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Bank of Maharashtra

Q2 FY27

Bank of Maharashtra Q2 Results 2026 (FY27): Revenue & Margins

Q2 FY27 earnings call: what management said on revenue, margins and capex.

Price₹80

Market cap₹61.5K Cr

P/E8.2

Updated29 Oct 2026

Read4 min read

Bank of Maharashtra Q2 FY27 key numbers

Revenue: Large credit grew 38% YoY, with INR18,000 crores from IBU and INR18,000 crores from domestic large credit (19% growth).

As stated in Bank of Maharashtra's Q2 FY27 earnings call transcript · published 26 Oct 2026. Reported figures, not investment advice.

The short version

Bank of Maharashtra achieved strong business growth of 25% in September 2026 with advances growing 30% YoY. The bank has set guidance numbers across growth, profitability, asset quality, and capital adequacy, all of which have been met consistently.

From Bank of Maharashtra's Q2 FY27 earnings-call transcript · updated 29 Oct 2026.

Revenue & Sales Performance

Good growth

Bank of Maharashtra achieved strong business growth of 25% in September 2026 with advances growing 30% YoY.
Excluding IBU, credit growth remains robust at 23% YoY across all verticals (Retail, Agri, MSME).
Large credit grew 38% YoY, with INR18,000 crores from IBU and INR18,000 crores from domestic large credit (19% growth).
Current credit pipeline stands at INR23,000 crores with INR10,000 crores expected to disburse by March 2027.
Focus sectors for future growth include infrastructure (roads, power transmission, renewable energy), data centers, and metals.
Bank expects to maintain an 18% credit growth guidance, supported by ongoing branch expansions (77 branches added in H1 FY27).

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Profitability & Margins

The bank has set guidance numbers across growth, profitability, asset quality, and capital adequacy, all of which have been met consistently.
Credit growth guidance for FY27 is 18%, with current growth exceeding this (23% excluding IBU).
Robust credit pipeline of INR23,000 crores with INR10,000 crores expected to disburse by March '27.
Operating profit showed 31% year-on-year growth; net profit grew 41% Y-o-Y.
EPS has crossed INR3 for the first time; ROA is above 2%, and ROE improved by 440 bps to 27%.
Recovery from written-off accounts is projected annually at INR1,300-1,500 crores over the next 4-5 years, supporting profitability.

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Capital Expenditure Plans

Capex planned

The bank is aggressively opening branches in potential growth centers, requiring large-scale recruitment to support this expansion.
For FY24 and FY25, the bank has allocated substantial budgets for IT and cybersecurity to enhance digital capabilities and safeguard against cyber threats; INR900 crores was budgeted for IT in FY24, with INR985 crores allocated for FY25.
There is focus on investing in specialized skill sets in areas such as treasury, international banking unit (IBU), and technology through external recruitment.

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Fundraising & Capital Structure

The Bank of Maharashtra raised approximately $1.65 billion via FCNR (B) and OFCB foreign bond issuances, marking its first-ever foreign bond issuance.
This fundraising was well-timed, attracted 3x issue size subscription, and was done at good rates.
The raised foreign bonds are fixed for the next 5 years, expected to positively impact profitability.
The bank is cautious about cost of deposits and focuses on raising low-cost retail deposits rather than high-cost bulk deposits.

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Order Book & Pipeline

The current pipeline for the corporate book stands at approximately INR 23,000 crores.
Sector-wise breakup of the pipeline includes:
Power and infrastructure: 18%
Roads: 12%
Renewable energy: 10%
Metals and allied sectors: 10%
The bank is bullish on growth in infrastructure-related sectors such as ports, airports, roads, power transmission, and renewable energy.

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What the Q2 FY27 call signalled

2 of 3 strong

RevenueGood growth

MarginMargins steady

CapexCapex planned

What Bank of Maharashtra's management said in earlier quarters

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Frequently Asked Questions

What were Bank of Maharashtra Q2 FY27 results?

Bank of Maharashtra achieved strong business growth of 25% in September 2026 with advances growing 30% YoY. The bank has set guidance numbers across growth, profitability, asset quality, and capital adequacy, all of which have been met consistently.

What is Bank of Maharashtra share price analysis?

Bank of Maharashtra currently shows a moderate growth signal based on ranking data. The stock trades at a P/E of 8.2 with a market cap of ₹61,464 Cr. Investors should review the full earnings analysis for detailed insights.

Is Bank of Maharashtra planning capital expenditure?

The bank is aggressively opening branches in potential growth centers, requiring large-scale recruitment to support this expansion.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.