In Week of Mar 28, 2026, Bank of Maharashtra (Banks - PSU) is outperforming Nifty 500 with +24.7% relative strength. Fundamentals: Strong. On a 11-week streak.
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
Based on Q3 FY26 (Dec 2025) earnings • Updated Feb 22, 2026
What: CASA ratio maintained above 50% with 16% YoY growth enabling cost of funds at 4.10%
Impact: +₹400 Cr revenue
“CEO stated: 'Cost of fund stands at 4.10%, cost of deposit at 4.47%. We are maintaining a healthy CASA above 50%'”
What: Retail loans growing at 36% YoY with vehicle loans at 54% and gold loans at 56% YoY
Impact: +₹1800 Cr revenue
“CEO stated: 'Retail growth at 36% YoY, home loans at 28%, vehicle loans at 54%, and gold loans at 56% YoY'”
What: Recovery of one-time ₹290 cr hit from bank amalgamation in Q4
Impact: +₹290 Cr revenue
“CEO stated: 'Excluding the one-off ₹290 cr hit, treasury would have shown profit. We expect to offset this in the next quarter'”
Earnings deceleration risks from management commentary
Trigger: If deposit growth falls below 14%
Impact: -5 bps margin impact
Management view: CEO stated: 'We maintain an LDR of around 83-84%, which is considered optimal for profitability. No regulatory concern from RBI'
Monitor: Deposit growth rate
Trigger: If recovery delayed beyond Q4
Impact: -8 bps margin impact
Management view: CEO stated: 'Excluding the one-off ₹290 cr hit, treasury would have shown profit. We expect to offset this in the next quarter'
Monitor: Treasury income
Key quotes from recent conference calls
“NIM achieved 3.87% against guidance of 3.75%. Cost of fund stands at 4.10%, cost of deposit at 4.47% — Nidhu Saxena”
“Gross NPA reduced to 1.60% from 1.72% last quarter. Net NPA improved to 0.15% from 0.18%. Slippage ratio remains stable at 1.2% — Nidhu Saxena”
“Total business growth at 17.24% YoY, advances growth at 20% YoY, retail growth at 36% YoY — Nidhu Saxena”
“CRAR at 17.06% against guidance of 16%. CET1 at 13.10%. Maintaining strong PCR at 90.6% — CFO”
Forward-looking targets from management for FY26
Revenue Growth Target
17.24%
Implied PAT Growth
38%
Credit Growth Target
20%
NIM Guidance
3.75%
Key Milestones
• Maintain CASA above 50%
• Keep GNPA below 2%
• CRAR above 16%
• ROE above 20%
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +16% | +24% | Decelerating |
| PAT (Net Profit) | +27% | +69% | Stable |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Feb 22, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Bank of Maharashtra's latest quarterly results (Dec 2025) show
Bank of Maharashtra's profit is growing with an stable trend.
Bank of Maharashtra's revenue growth trend is decelerating.
Bank of Maharashtra's asset quality trend is improving.
Bank of Maharashtra's long-term compounding rates
Bank of Maharashtra's earnings growth is stable with positive momentum on a sequential basis.
Bank of Maharashtra's trailing twelve month (TTM) performance
Bank of Maharashtra appears significantly undervalued based on our fair value analysis.
Bank of Maharashtra's current PE ratio is 7.7x.
Bank of Maharashtra's current PE is 7.7x.
Bank of Maharashtra's price-to-book ratio is 1.5x.
Bank of Maharashtra is rated Strong with a fundamental score of 73.63/100. This score is calculated from objective financial metrics
Bank of Maharashtra has a debt-to-equity ratio of N/A.
Bank of Maharashtra's return ratios over recent years
Bank of Maharashtra's operating cash flow is positive (FY2025).
Bank of Maharashtra's current dividend yield is 2.33%.
Bank of Maharashtra's shareholding pattern (Dec 2025)
Bank of Maharashtra's promoter holding has decreased recently.
Bank of Maharashtra has been outperforming Nifty 500 for 11 consecutive weeks, indicating consistent outperformance.
Bank of Maharashtra is an established outperformer with 11 weeks of consecutive Nifty 500 outperformance.
Bank of Maharashtra has 3 key growth catalysts identified from recent earnings analysis
Bank of Maharashtra has 2 key risks worth monitoring
In Q3 FY26 (Dec 2025), Bank of Maharashtra's management highlighted
Bank of Maharashtra's management has provided the following forward guidance for FY26
Based on quantitative research signals, here is why Bank of Maharashtra may be worth studying
Bank of Maharashtra investment thesis summary:
Bank of Maharashtra's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
