Bank of Maharashtra Share Price Target 2024 2025 2026 2027 2028 2029 2030 Fundamentals & Quarterly Results – Bank of Maharashtra is based in Pune, Maharashtra and is a state-owned public sector lender. It has the most significant number of branches in Maharashtra than any other publicly owned bank due to its overall number of personnel which stands at role. The bank lists in NSE as MAHABANK NSE before recording the fastest growth rate ever concerning its deposits collections ratio throughout the national industry history.
Latest Update – The net profit of the Bank of Maharashtra Ltd. , which is state-run, increased by approximately 47% when compared to previous year’s figures (YoY) during the first quarter of FY 2024-25. This was due to increased net interest income (NII) driven by strong business growth numbers.
Bank of Maharashtra Overview
Contents
The Bank of Maharashtra offers banking services. This includes Treasury, Corporate/Wholesale Banking, Retail Banking, and other banking operations are the segments of the bank.
| Company Name | Bank of Maharashtra |
|---|---|
| Listed at | NSE & BSE |
| Head Office | ‘Lokmangal’, 1501, Shivajinagar Pune-411005 |
| Board Of Directors |
|
| Official Website | bankofmaharashtra.in |
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Bank of Maharashtra Business Profile
The bank functions as an insurance agent providing bancassurance for life and non-life risks. For example, it has senior citizen saving scheme, Mahabank gold loan scheme, Suraksha payroll scheme, Pradhan Mantri Mudra Yojana. Also it has Pradhan Mantra Awas Yojana and non-resident accounts. In addition to this, BoM also offers foreign exchange, cash management, depository services, micro-finance, remittances, digital certificate on life certificate, doorstep banking, online trading, payment solutions in addition to mobile banking.
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Branch Network
The bank operates a network of 2029 branches and 1,850 ATMs across India, with majority (33%) of these branches situated in rural areas.
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Loan Book
Approximately 39% of the loan book belongs to the corporate & others category, closely followed by retail at 26%, MSME at 19% and lastly agriculture at 16%.
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Exposure
The agriculture industry has the most exposure at 15.1%, with housing following closely at 14%, infrastructure coming in as third with 11%, trade at a distant fourth place with 8.6%, NBFC emerging fifth position with 4.4%, professional services accounting for 4.4%, HFCs having 3.5% while other sectors represent the remaining 38.3% of all sectoral credits.
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METCO
METCO is a company that is 100% owned by the bank, providing services that complement those offered by banks, including advice and drafting of wills, financial transactions, management of children’s assets, property sales/purchase consultations, etc.
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Bank of Maharashtra Recent Update
- The Department of Financial Services notified that Vigilance Commissioner in the Central Vigilance Commission has been appointed as AS Rajeev who is the Managing Director and Chief Executive Officer of Bank of Maharashtra.
- PSU aside, Bank of Maharashtra was the best performer in recording 17.89% growth in deposit collection during Quarter three. Besides Bank of Maharashtra, only State Bank of India has been able to register a double-digit growth rate of 12.84% in deposits collection.
- Two new branches was opened in Gujarat and there is a promise to grow PSU bank’s businesses by 66% by Mr. ‘Asheesh Pandey,’ who happens to be the Executive Director of BOM. This information saw Bank of Maharastra’s sharesweaving a path upwards on the stock market.
- The bank of Maharashtra has announced that it will raise its Marginal Cost of Funds Based Lending Rate (MCLR) by 10 basis points across the board in the first full week of February 2024.
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Bank of Maharashtra Fundamentals & Quarterly Results
| Market Cap | ₹ 46,029 Cr. |
| Current Price | ₹ 65.0 |
| High / Low | ₹ 72.6 / 26.8 |
| Stock P/E | 11.3 |
| Book Value | ₹ 23.5 |
| Dividend Yield | 2.16 % |
| ROCE | 5.77 % |
| ROE | 25.8 % |
| Face Value | ₹ 10.0 |
| Debt to equity | 15.5 |
| Debt Capacity | -3.14 |
| Debt preceding year | ₹ 2,44,830 Cr. |
| Debt | ₹ 2,44,830 Cr. |
| Reserves | ₹ 9,060 Cr. |
| EPS | ₹ 5.75 |
| EPS last year | ₹ 5.75 |
| Pledged percentage | 0.00 % |
| FCF Prev Ann | ₹ -1,617 Cr. |
| EV/EBITDA | 18.1 |
| Industry PE | 9.46 |
| PEG Ratio | 0.48 |
| Piotroski score | 6.00 |
| Earnings yield | 5.53 % |
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Bank of Maharashtra Quarterly Results
| Metric | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 3,282 | 3,426 | 3,457 | 3,815 | 4,131 | 4,495 | 4,789 | 5,068 | 5,172 | 5,467 |
| Interest | 1,755 | 1,814 | 1,772 | 1,928 | 2,149 | 2,308 | 2,449 | 2,636 | 2,705 | 2,882 |
| Expenses | 1,812 | 1,321 | 1,349 | 1,507 | 1,622 | 2,098 | 1,882 | 2,164 | 2,076 | 2,339 |
| Financing Profit | -285 | 291 | 337 | 380 | 359 | 89 | 458 | 268 | 390 | 246 |
| Financing Margin % | -9% | 8% | 10% | 10% | 9% | 2% | 10% | 5% | 8% | 4% |
| Other Income | 611 | 522 | 317 | 503 | 640 | 822 | 629 | 668 | 680 | 1,022 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 327 | 813 | 654 | 883 | 999 | 911 | 1,088 | 936 | 1,070 | 1,268 |
| Tax % | 1% | 56% | 31% | 39% | 22% | 8% | 19% | 2% | 3% | 4% |
| Net Profit | 310 | 356 | 453 | 535 | 777 | 841 | 884 | 920 | 1,038 | 1,230 |
| EPS in Rs | 0.46 | 0.53 | 0.67 | 0.79 | 1.15 | 1.25 | 1.25 | 1.30 | 1.47 | 1.74 |
| Gross NPA % | 4.73% | 3.94% | 3.74% | 3.40% | 2.94% | 2.47% | 2.28% | 2.19% | 2.04% | 1.88% |
| Net NPA % | 1.24% | 0.97% | 0.88% | 0.68% | 0.47% | 0.25% | 0.24% | 0.23% | 0.22% | 0.20% |
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CAGR Report
| 10 Years | 5 Years | 3 Years | TTM / 1 Year | |
|---|---|---|---|---|
| Compounded Sales Growth | 6% | 14% | 20% | 29% |
| Compounded Profit Growth | 26% | 23% | 92% | 56% |
| Stock Price CAGR | 5% | 35% | 37% | 108% |
| Return on Equity | 2% | 14% | 18% | 26% |
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| Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|
| Promoters | 90.97% | 90.97% | 90.97% | 90.97% | 86.46% | 86.46% | 86.46% | 86.46% |
| FIIS | 0.16% | 0.20% | 0.16% | 0.26% | 0.68% | 0.59% | 0.45% | 1.04% |
| DIIS | 3.74% | 3.78% | 3.39% | 3.33% | 6.43% | 5.17% | 4.71% | 4.68% |
| Public | 5.13% | 5.05% | 5.49% | 5.44% | 6.42% | 7.76% | 8.37% | 7.80% |
| No. of Shareholders | 3,79,399 | 3,71,592 | 4,33,506 | 4,41,517 | 4,53,524 | 6,06,046 | 6,77,087 | 8,46,746 |
| Year | Lower Targets | Higher Targets |
|---|---|---|
| 2024 | 88 | 97 |
| 2025 | ₹100 | ₹110 |
| 2026 | ₹112 | ₹127 |
| 2027 | ₹130 | ₹145 |
| 2028 | ₹150 | ₹160 |
| 2020 | ₹180 | ₹190 |
| 2030 | ₹200 | ₹215 |
| Month | Lower Targets | Higher Targets |
|---|---|---|
| January | ₹83 | ₹85 |
| February | ₹85 | ₹89 |
| March | ₹83 | ₹85 |
| April | ₹87 | ₹89 |
| May | ₹85 | ₹90 |
| June | ₹87 | ₹92 |
| July | ₹89 | ₹95 |
| August | ₹92 | ₹99 |
| September | ₹88 | ₹95 |
| October | ₹91 | ₹94 |
| November | ₹93 | ₹97 |
| December | ₹100 | ₹110 |
| Month | Lower Targets | Higher Targets |
|---|---|---|
| January | ₹105 | ₹117 |
| February | ₹99 | ₹111 |
| March | ₹91 | ₹101 |
| April | ₹95 | ₹107 |
| May | ₹99 | ₹110 |
| June | ₹102 | ₹115 |
| July | ₹106 | ₹122 |
| August | ₹101 | ₹117 |
| September | ₹100 | ₹113 |
| October | ₹105 | ₹118 |
| November | ₹108 | ₹125 |
| December | ₹112 | ₹127 |
| Month | Lower Targets | Higher Targets |
|---|---|---|
| January | ₹116 | ₹137 |
| February | ₹109 | ₹133 |
| March | ₹101 | ₹128 |
| April | ₹103 | ₹133 |
| May | ₹107 | ₹137 |
| June | ₹111 | ₹139 |
| July | ₹115 | ₹141 |
| August | ₹111 | ₹139 |
| September | ₹107 | ₹135 |
| October | ₹119 | ₹137 |
| November | ₹125 | ₹140 |
| December | ₹130 | ₹145 |
| Month | Lower Targets | Higher Targets |
|---|---|---|
| January | ₹137 | ₹147 |
| February | ₹131 | ₹138 |
| March | ₹130 | ₹136 |
| April | ₹132 | ₹139 |
| May | ₹135 | ₹144 |
| June | ₹139 | ₹149 |
| July | ₹144 | ₹155 |
| August | ₹139 | ₹152 |
| September | ₹137 | ₹149 |
| October | ₹140 | ₹155 |
| November | ₹145 | ₹157 |
| December | 150 | 160 |
| Month | Lower Targets | Higher Targets |
|---|---|---|
| January | ₹157 | ₹167 |
| February | ₹151 | ₹168 |
| March | ₹146 | ₹160 |
| April | ₹142 | ₹157 |
| May | ₹135 | ₹144 |
| June | ₹139 | ₹149 |
| July | ₹144 | ₹155 |
| August | ₹150 | ₹160 |
| September | ₹157 | ₹169 |
| October | ₹160 | ₹175 |
| November | ₹175 | ₹187 |
| December | 180 | 190 |
| Month | Lower Targets | Higher Targets |
|---|---|---|
| January | ₹187 | ₹197 |
| February | ₹181 | ₹188 |
| March | ₹175 | ₹180 |
| April | ₹182 | ₹189 |
| May | ₹185 | ₹194 |
| June | ₹189 | ₹199 |
| July | ₹184 | ₹195 |
| August | ₹189 | ₹199 |
| September | ₹187 | ₹196 |
| October | ₹195 | ₹205 |
| November | ₹197 | ₹210 |
| December | 200 | 215 |
Official Website – bankofmaharashtra.in