Bank of Maharashtra (MAHABANK) Quarterly Report Analysis & Insights

Bank of Maharashtra

| Audited Standalone Financial Results – Quarter & Year Ended March 31, 2026

⬤20th Apr 26

Summary : Bank of Maharashtra reports strong profitability and capital raising plans, despite negative operating cash flow and fraud-related provisions.

Quarterly Report Analysis & Insights

Financial Disclosures

Standalone FY26: Interest Expended Rs. 15617.58 crore, Operating Expenses Rs. 6379.13 crore, Provisions & Contingencies Rs. 2968.45 crore
Consolidated FY26: Interest Expended Rs. 15616.15 crore, Operating Expenses Rs. 6379.93 crore, Provisions & Contingencies Rs. 2968.45 crore
COVID-19 stressed assets resolution plan: Personal Loan Rs. 1032.66 crore
COVID-19 stressed assets resolution plan: Corporate Persons Rs. 559.03 crore
COVID-19 stressed assets resolution plan: MSME Rs. 19.14 crore
Standalone FY26: Interest earned Rs. 29281.64 crore, Other Income Rs. 3540.89 crore
Consolidated FY26: Interest earned Rs. 29281.74 crore, Other Income Rs. 3541.98 crore
Standalone FY26: Net Cash Flow from Operating Activities Rs. -10988.79 crore, Net Cash Flow from Investing Activities Rs. -853.41 crore, Net Cash Flow from Financing Activities Rs. -2607.12 crore, Total Cash Flow During The Year Rs. -14449.32 crore
Consolidated FY26: Net Cash Flow from Operating Activities Rs. -11336.03 crore, Net Cash Flow from Investing Activities Rs. -506.16 crore, Net Cash Flow from Financing Activities Rs. -2607.12 crore, Total Cash Flow During The Year Rs. -14449.32 crore
Additional COVID-19 related provision of Rs. 1010 crores
Standalone FY26: Total Assets Rs. 42736.27 crore, Deposits Rs. 35056.44 crore, Advances Rs. 28810.43 crore, Investments Rs. 10148.02 crore, Net Worth Rs. 3027.24 crore
Consolidated FY26: Total Assets Rs. 42747.14 crore, Deposits Rs. 35053.82 crore, Advances Rs. 28810.43 crore, Investments Rs. 10158.79 crore, Net Worth Rs. 3038.92 crore
Consolidated results include subsidiary (Maharashtra Executor and Trustee Company Private Limited)
Consolidated results include associate (Maharashtra Gramin Bank)
Both standalone and consolidated financial results are provided
Consolidated results include a subsidiary and an associate

Corporate Overview

Primarily Domestic
Limited International operations
Managing non-performing assets
Addressing COVID-19 related provisions
Handling reported fraud cases
Ensuring regulatory compliance
Subject to RBI guidelines
Subject to SEBI regulations
Subject to Banking Regulation Act
Retail banking
Corporate/Wholesale banking
Treasury operations
Other banking operations
Confident and focused on growth
Emphasizes compliance and capital augmentation
Retail customers
Corporate clients
MSME sector
Treasury Operations
Corporate/Wholesale Banking Operations
Retail Banking Operations (including Digital Banking)
Other Banking Operations
633 branches audited by statutory branch auditors
2132 branches not subjected to audit
Raising capital up to Rs. 7,500 crore via equity shares/bonds
Issuing Long-Term Infra Bonds up to Rs. 10,000 crore (FY26-27)
Raising foreign currency bonds up to USD 500 million (FY26-27)

Risk Factors

Negative cash flow from operations.
Significant fraud cases reported.
Regulatory penalties levied by RBI.
Impairment loss from associate bank.

Key Drivers

Final dividend of 12% recommended.
Significant capital raising plans initiated.
Net non-performing assets remain low.
Unmodified audit opinion received.

Auditor’s Report

Unmodified opinion for standalone financial results
Unmodified opinion for consolidated financial results
Disclosures for Basel III Pillar 3, Leverage Ratio, Liquidity Coverage Ratio, Net Stable Funding Ratio were on website and unaudited
Unaudited financial results of associate Maharashtra Gramin Bank included in consolidated statements
Additional COVID-19 related provision of Rs. 1010 Crores as contingency provision
Impairment loss of Rs. 280.59 Crore due to amalgamation of Vidarbha Konkan Gramin Bank
Group's share of net loss of Rs. 3.78 crore from unaudited associate financial results

Board Commentary

Recommended Final dividend of 12% (Rs. 1.20 per equity share) for FY 2025-26
In addition to interim dividend of 10% (Rs. 1.00 per equity share) already paid
394 fraud cases reported in FY26 involving Rs. 990.00 crore
Provisions made for fraud cases totaling Rs. 873.99 crore
Additional COVID-19 related provision of Rs. 1010 crores
Impairment loss of Rs. 280.59 crore due to associate amalgamation
RBI levied penalties of Rs. 0.70 crores on the bank during FY26
Outstanding projects under implementation: Rs. 10950.45 crore
Plans to raise Rs. 7,500 crore equity capital
Plans to issue Rs. 10,000 crore Long-Term Infra Bonds
Plans to raise USD 500 million through foreign currency bonds

Corporate Governance

Auditors confirm compliance with ICAI Code of Ethics
Results reviewed by Audit Committee and approved by Board
Audit Committee is in place

Management Discussion & Analysis

Future Strategy

Strengthening capital base
Securing long-term funding for infrastructure projects
Ensuring compliance with public shareholding norms

Industry Overview

Active participation in co-lending arrangements for Retail and MSME sectors

Macroeconomic Outlook

Implied stable macro environment supporting growth

Operational Focus Areas

Effective management of NPAs
Robust fraud detection and provisioning
Adherence to regulatory guidelines

Performance Drivers

Capital augmentation initiatives
Issuance of infrastructure and foreign currency bonds
Focus on retail and MSME segments

Risk Control Measures

Adequate provisioning for NPAs and fraud cases
Strict adherence to SEBI and RBI regulations
Strategic capital raising to bolster financial strength

Critical Risks

Non-performing assets requiring significant provisions
Potential impact of fraud cases
Regulatory penalties and compliance costs
Market volatility affecting capital raising efforts
Unhedged foreign currency exposure