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Bank of Maharashtra: Intrinsic Value & Share Price Analysis

Fair Value

₹71.01Overvalued by 12.01%vs CMP ₹80.70

P/E (8.2) × ROE (22.6%) × BV (₹46.40) × DY (2.73%)

₹92.34Undervalued by 14.42%vs CMP ₹80.70
MoS: +12.6% (Thin)Confidence: 38/100 (Low)Models: 3 Under, 1 Fair, 2 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹97.6829%Under (+21%)
Graham NumberEarnings₹93.7621%Under (+16.2%)
Earnings PowerEarnings₹44.1214%Over (-45.3%)
DCFCash Flow₹206.5114%Under (+155.9%)
EV/EBITDAEnterprise₹3.7812%Over (-95.3%)
Earnings YieldEarnings₹84.209%Fair (+4.3%)
Consensus (6 models)₹92.34100%Undervalued
Key Drivers: EPS CAGR 37.6% lifts DCF — verify sustainability. | Wide model spread (₹4–₹207) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 37.6%

*Investments are subject to market risks

Analyst Summary

Bank of Maharashtra operates in the Finance - Banks - Public Sector segment, current market price is ₹80.70, market cap is 62,071 Cr.. At a glance, stock P/E is 8.24, ROE is 22.6 %, ROCE is 6.03 %, book value is 46.4, dividend yield is 2.73 %. The latest intrinsic value estimate is ₹92.34, which is about 14.4% above the current price, so the page currently reads as potentially undervalued rather than fully priced. On operating trend, latest reported sales are about ₹24,948 Cr versus the prior period change of 21.7%, while latest net profit is about ₹5,542 Cr with a prior-period change of 36.1%. The 52-week range shown on this page is 94.5/51.7, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisBank of Maharashtra is a Public Limited Listed company incorporated on 16/09/1935 and registered in the State of Maharashtra, India. Company presently involved in the business activities of Banking Bu…

This summary is generated from the stock page data available for Bank of Maharashtra: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

59
Bank of Maharashtra scores 59/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health59/100 · Moderate
ROCE 6.0% WeakROE 22.6% ExcellentD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money85/100 · Strong
FII holding up 3.47% (6mo) AccumulatingDII holding up 4.22% MF buyingPromoter holding at 73.6% Stable
Earnings Quality50/100 · Moderate
Quarterly Momentum58/100 · Moderate
Profit (4Q): +23% YoY Positive
Industry Rank60/100 · Moderate
P/E 8.2 vs industry 8.4 In-lineROCE 6.0% vs industry 6.0% AverageROE 22.6% vs industry 14.0% Above peers

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily.

Share Price and Basic Stock Data

Last Updated: August 25, 2026, 5:15 am

Market Cap 62,071 Cr.
Current Price 80.7
Intrinsic Value₹92.34
High / Low 94.5/51.7
Stock P/E8.24
Book Value 46.4
Dividend Yield2.73 %
ROCE6.03 %
ROE22.6 %
Face Value 10.0
PEG Ratio0.22

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Bank of Maharashtra

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Bank of Maharashtra 62,071 Cr. 80.7 94.5/51.78.24 46.42.73 %6.03 %22.6 % 10.0
Indian Overseas Bank 63,893 Cr. 33.2 41.8/31.211.1 20.50.00 %6.07 %14.9 % 10.0
Bank of India 64,648 Cr. 142 178/1105.49 2003.27 %5.93 %12.4 % 10.0
UCO Bank 32,465 Cr. 25.9 34.2/22.211.5 27.11.70 %5.55 %8.61 % 10.0
IDBI Bank Ltd 94,546 Cr. 87.9 118/61.010.2 63.82.39 %5.92 %14.1 % 10.0
Industry Average150,215.23 Cr231.018.42192.432.42%6.01%14.03%7.46

All Competitor Stocks of Bank of Maharashtra

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue4,1314,4954,7895,0685,1725,4675,8756,0176,3256,7317,0547,1287,344
Interest 2,1492,3082,4492,6362,7052,8823,0753,2103,3813,6143,7623,8803,922
Expenses 1,6222,0981,8822,1642,0762,3392,3492,2192,2692,5612,4142,2752,348
Financing Profit359894582683902464505886755568789731,075
Financing Margin %9%2%10%5%8%4%8%10%11%8%12%14%15%
Other Income 6408226296686801,022894792788981825846933
Depreciation 0000000000000
Profit before tax 9999111,0889361,0701,2681,3441,3801,4631,5371,7031,8192,008
Tax % 22%8%19%2%3%4%4%4%4%3%6%10%11%
Net Profit 7778418849201,0381,2301,2951,3331,4121,5021,5041,6691,799
EPS in Rs 1.151.251.251.301.471.741.831.881.841.951.962.172.34
Gross NPA %2.94%2.47%2.28%2.19%2.04%1.88%1.85%1.84%1.80%1.74%1.74%1.72%1.60%
Net NPA %0.47%0.25%0.24%0.23%0.22%0.20%0.20%0.20%0.20%0.18%0.18%0.18%0.15%

Last Updated: February 6, 2026, 1:46 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 23, 2026, 1:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue11,95712,66513,05312,06211,09610,85011,49611,86913,01915,89920,49524,94828,257
Interest 8,4478,7909,1748,8867,7067,1157,2166,9706,9748,15710,67213,28115,178
Expenses 3,9183,9534,3326,7098,0349,8255,3306,7887,2786,3148,5429,3119,598
Financing Profit-409-78-453-3,533-4,643-6,090-1,050-1,889-1,2331,4281,2812,3563,482
Financing Margin %-3%-1%-3%-29%-42%-56%-9%-16%-9%9%6%9%12%
Other Income 9071,0201,0371,5251,5401,5681,6602,6492,6552,2833,0153,4763,585
Depreciation 1001151491181292412111882682622232910
Profit before tax 399827435-2,126-3,232-4,7633995711,1533,4484,0725,5427,066
Tax % 0%44%73%-36%-66%0%0%0%0%24%0%0%
Net Profit 399465118-1,356-1,112-4,7633995711,1532,6054,0725,5426,474
EPS in Rs 4.754.371.01-11.61-4.28-17.300.680.871.713.875.757.218.42
Dividend Payout % 21%18%0%0%0%0%0%0%29%34%24%21%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)16.54%-74.62%-1249.15%17.99%-328.33%108.38%43.11%101.93%125.93%56.31%36.10%
Change in YoY Net Profit Growth (%)0.00%-91.17%-1174.53%1267.15%-346.32%436.70%-65.27%58.82%24.01%-69.62%-20.21%

Bank of Maharashtra has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:7%
5 Years:17%
3 Years:24%
TTM:21%
Compounded Profit Growth
10 Years:28%
5 Years:70%
3 Years:69%
TTM:28%
Stock Price CAGR
10 Years:4%
5 Years:32%
3 Years:42%
1 Year:-15%
Return on Equity
10 Years:6%
5 Years:17%
3 Years:21%
Last Year:23%

Last Updated: September 5, 2025, 12:30 am

No data available for the Balance Sheet data table.

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity + -1,0832,9047,498-1,723-10,8426932,4476,896-1,44011,5817,628-11,336
Cash from Investing Activity + -151-151-99-134-106-100-169-300-175-260-495-506
Cash from Financing Activity + 1,885-186-771,1004,2206982173782284614,750-2,607
Net Cash Flow 6512,5677,322-758-6,7291,2922,4956,974-1,38711,78311,883-14,449
Free Cash Flow -1,2342,7537,399-1,858-10,9685842,2586,594-1,61711,3057,112-11,742
CFO/OP -12%38%140%-56%-1,058%11%48%120%-15%97%48%-56%

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
ROE % 6%6%1%-17%-13%-60%5%5%9%17%23%23%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters 86.46%86.46%86.46%86.46%86.46%79.60%79.60%79.60%79.60%73.60%73.60%73.60%
FIIs 0.59%0.45%1.04%1.20%1.26%1.54%1.72%1.89%2.35%4.92%5.55%5.82%
DIIs 5.17%4.71%4.68%4.58%4.46%10.88%10.67%10.40%10.06%13.50%13.93%14.28%
Public 7.76%8.37%7.80%7.75%7.81%7.99%8.00%8.11%8.00%7.97%6.93%6.32%
No. of Shareholders 6,06,0466,77,0878,46,7469,19,6639,48,4329,95,54310,06,2659,91,9309,74,4849,52,7759,01,4108,75,943

Shareholding Pattern Chart

No. of Shareholders

Bank of Maharashtra: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Kotak Midcap Fund 115,761,596 1.28 755.58108,261,5962026-02-23 06:17:326.93%
Aditya Birla Sun Life PSU Equity Fund 33,193,607 3.79 216.655,193,6082026-01-26 00:58:33539.12%
Kotak Large & Midcap Fund 30,000,000 0.65 195.8124,000,0002026-02-23 06:17:3225%
UTI Mid Cap Fund 25,000,000 1.42 163.1812,200,0002026-01-26 00:58:33104.92%
Canara Robeco Mid Cap Fund 14,182,185 2.28 92.5712,204,9382026-01-26 00:58:3316.2%
Aditya Birla Sun Life Multi Asset Allocation Fund 13,678,933 1.46 89.28N/AN/AN/A
Aditya Birla Sun Life Banking and Financial Services Fund 12,546,499 2.25 81.89N/AN/AN/A
Aditya Birla Sun Life Multi-Cap Fund 12,000,000 1.2 78.328,000,0002026-01-26 00:58:3350%
Aditya Birla Sun Life Large and Mid Cap Fund 11,506,474 1.33 75.1N/AN/AN/A
UTI Large & Mid Cap Fund 9,809,589 1.14 64.038,800,0002026-01-26 00:58:3311.47%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
Face Value10.0010.0010.0010.0010.00
Basic EPS (Rs.) 7.515.803.871.730.91
Diluted EPS (Rs.) 7.515.803.871.730.91
Cash EPS (Rs.) 7.556.044.262.111.13
Book Value[Excl.RevalReserv]/Share (Rs.) 34.8626.0221.2718.5516.97
Book Value[Incl.RevalReserv]/Share (Rs.) 37.3228.0623.4620.8918.76
Operating Revenue / Share (Rs.)32.4428.9423.6219.3418.09
Net Profit / Share (Rs.) 7.185.733.871.710.84
Net Profit After MI / Share (Rs.)7.215.753.871.710.87
Net Profit Margin (%) 22.1219.7816.378.844.64
Net Profit After MI And SOA Nargin (%)22.2119.8616.388.854.81
Operating Profit Margin (%)36.5031.6325.9613.237.32
Return On Assets (%) 1.501.320.970.490.29
Return On Equity / Networth (%)20.6622.0918.199.235.13
Net Interest Margin (X)3.153.192.892.612.48
Cost To Income (%)38.3637.5539.1344.2647.38
Interest Income / Total Assets (%)6.756.665.935.646.02
Non-Interest Income / Total Assets (%)0.930.970.851.141.33
Operating Profit / Total Assets (%)0.550.340.12-0.65-1.05
Operating Expenses / Total Assets (%)1.571.561.461.661.81
Interest Expenses / Total Assets (%)3.593.473.043.023.54
Enterprise Value (Rs.Cr.)328530.19301393.81243000.21201540.00178990.69
EV Per Net Sales (X)13.1714.7115.2815.4815.08
Price To Book Value (X)1.332.391.160.901.23
Price To Sales (X)1.432.151.050.861.15
Retention Ratios (%) 79.1875.6566.4170.82100.00
Earnings Yield (X)0.150.090.150.100.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

[display_about_company_data title=”About the Company – Qualitative Analysis”]

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Last Updated: August 25, 2026, 5:15 am
Author: Getaka|Social: XLinkedIn
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Bank of Maharashtra. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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