Bank of Maharashtra (532525) Fair Value & Analysis

Financial · IN · Market cap ₹76.1B

Below-average quality, currently priced close to our fair value.

What matters now

• The price sits close to our fair value, market and models broadly agree here, little valuation tension.
• For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 18, 2026.

How to read this chart

60‑month range ₹13.24 – ₹93.82 · fair‑value band ₹64.16 – ₹106.93 · the ₹80.54 price screens below the ₹85.55 fair value. Dashed = 300-day average. As of Aug 18, 2026.

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Analysis

Bank of Maharashtra (532525) currently trades at ₹80.54, while our model-based Fair Value estimate is ₹85.55, implying the stock looks roughly 6.2% fairly valued today. The Quality Score stands at 37/100 (below-average quality), in the Financial sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Bank of Maharashtra generated revenue of ₹38.1B at a net margin of 11.4%. Revenue declined 2.8% year over year. It earns a return on equity of 3.8%. The stock trades on a trailing P/E of 14.8 (as of Aug 18, 2026). Fundamentals as of Aug 18, 2026

Our scenario range runs from ₹64.16 (bear case) to ₹106.93 (bull case); at ₹80.54, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 15% below its 52-week high and 61% above its 52-week low. For context, the median of 10 Financial peers we cover trades at -6% fair-value upside, at 6%, 532525 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Economic Profit (₹77.32) versus Dividend Discount (₹24.33). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

Bank of Maharashtra provides various banking products and services in India. The company operates through Treasury, Corporate/Wholesale Banking, Retail Banking, and Other Banking segments. It accepts savings, current, and term deposits, as well as capital gain account schemes.

Full company description

Bank of Maharashtra provides various banking products and services in India. The company operates through Treasury, Corporate/Wholesale Banking, Retail Banking, and Other Banking segments. It accepts savings, current, and term deposits, as well as capital gain account schemes. The company also provides term loans, overdrafts, letters of credit, guarantees, and other products, as well as loans for exporters, agriculturists, corporates, entrepreneurs, professionals, and individuals; housing, skill, educational, vehicle, gold, top up, personal, and consumer loans, as well as micro, small, and medium enterprise loans; schemes for solar water heating and lighting systems, and salary gains; and loans against properties. In addition, it offers mobile-point of sale, ATM, DEMAT, real time gross settlement, national electronic funds transfer, executors and trustee, e-SBTR, e-payment, online shopping/utility payment, online share investment and trading, unified payments interface, internet and mobile banking, payroll, and door step banking services, as well as ASBA services for corporate houses/institutional investors, such as LIC/GIC/mutual fund companies; and credit and debit cards, bancassurance products, mutual funds, and pension schemes. Further, the company provides non-resident ordinary and external, foreign currency non-resident, and resident foreign currency accounts, as well as inward and outward remittance services; and documentary credits and collections, import and export financing, guarantees, travel related forex, non-resident Indians, and risk management services, as well as collects direct taxes. As of March 31, 2020, it operated 1833 branches and 1851 ATMs. Bank of Maharashtra was founded in 1935 and is headquartered in Pune, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2016 – FY2025 · reported fiscal years

Bank of Maharashtra reported revenue of ₹60.4B in FY2020 versus ₹26.7B in FY2016, a compound +22.6%/yr. Reported net income was ₹55.4B in FY2025, compounding +76.5%/yr from FY2021.

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Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.