Bank of Maharashtra is a Pune-headquartered public sector bank that has been beating its own FY27 guidance on advances, asset quality and margins, even as deposit mobilisation lags the rest of the book. The Q2 FY 2026-2027 print will speak to whether deposit growth and the CASA ratio catch up to the 14-15% and ~50% targets, and whether the slippage ratio normalises below 1%.
| Results date | October 26, 2026 |
|---|---|
| Quarter | Q2 FY 2026-2027 |
| Previous quarter total income | Rs. 9,063.29 Cr (+15.03% YoY) |
| Previous quarter net profit | Rs. 2,020.19 Cr (+26.84% YoY) |
| Previous quarter NII | Rs. 3,770 Cr (+14.53% YoY) |
| Market cap | Rs. 60,891.32 Cr |
| CMP | Rs. 79.01 |
The Board of Directors will meet on Monday, 26 Oct 2026, to approve the unaudited standalone and consolidated financial results for the quarter and half-year ended 30 Sep 2026. The trading window has been closed from 1 Oct 2026 and reopens 48 hours after the results declaration.
An earnings call is scheduled for 26 Oct 2026 at 4:30 pm IST to discuss Q2 FY2026-27 performance. The call will be moderated by Siddharth Rajpurohit (Systematix Group), with MD & CEO Shri Nidhu Saxena.
The Q2 FY27 print will test whether Bank of Maharashtra can close its deposit-growth gap — Q1 FY27 deposits grew +12.93% against the 14-15% FY27 guidance and CASA slipped to 48.51% versus the ~50% target — while advances entered the quarter compounding at +26.90% YoY, well above the 18% guidance. System tailwinds favour a catch-up: bank deposit growth in August 2026 hit its highest level in 15 years, fresh term-deposit rates fell 18 bps into August (WADTDR-fresh 5.67% vs 5.85% in July), and RBI exempted 3-5 year term deposits mobilised 8 Jun-30 Sep 2026 from CRR/SLR — a direct incentive to chase the tenured deposits the bank wants. On margins, NIM of 3.85% ran 10 bps above the 3.75% guidance with cost of funds already down to 4.01%, though the post-quarter 25 bps repo hike to 5.50% with a calibrated-tightening stance reverses the easing tailwind for EBLR-linked yields (68.2% of floating-rate loans system-wide) from Q3 onward. Asset quality remains the standout — GNPA 1.45%, NNPA 0.13%, PCR 98.55% — but the slippage ratio of 1.23% has now run above the sub-1% guidance for four straight quarters, and the Q1 question on QoQ GNPA upticks in housing, vehicle, education and MSME sub-segments went unanswered. The ECL framework takes effect only 1 Apr 2027, so no P&L load is expected this quarter beyond any continued voluntary build, with an estimated ~Rs. 2,500 cr transition provision routed through net worth per management. The call will also cover the GIFT City IBU's USD 1 bn target — the 12-month window from the Oct 2025 statement closes around now against a USD 650 mn book at Q4 FY26 — and deployment of the USD 500 mn, 6.112% offshore bond issued 24 Sep 2026.
FY27 guidance scorecard vs Q1 FY27 tracking: Where each FY27 guidance metric stood after Q1 FY27:
Deposit growth catch-up and CASA recovery
Slippage normalisation and retail/MSME GNPA upticks
GIFT City IBU and offshore bond deployment
Branch expansion and ECL glide path
GNPA stood at 1.45% and NNPA at 0.13% as of Jun'26, with provision coverage ratio at 98.55% and credit cost at 0.99%, within the ~1% guidance. The slippage ratio of 1.23%, however, remains above the sub-1% FY27 guidance.
Deposits grew +12.93% YoY in Q1 FY27 against the 14-15% FY27 guidance, while CASA slipped to 48.51% versus the ~50% target. Management has described letting high-cost bulk deposits leave as a conscious strategy, and is relying on ~200 new branches annually and new stable-deposit products to attract deposits.
Management estimates a ~Rs. 2,500 cr provision over Apr 2027-Mar 2031 via a Rs. 100-125 cr quarterly glide, with the final RBI guidelines routing the impact through net worth rather than P&L. Management has said 'ECL does not remain a concern anymore' and is comfortable with buffer provisioning.
In Q1 FY27 the bank tracked above guidance on advances (+26.90% vs 18%), NIM (3.85% vs 3.75%), ROA (1.90% vs 1.80%), PCR (98.55% vs 98%) and CRAR (18.64% vs 18%), but below on deposit growth and CASA. The slippage ratio of 1.23% also runs above the sub-1% guidance.
The bank issued USD 500 mn of 5-year senior unsecured notes at 6.112% p.a. on 24 Sep 2026 via its GIFT City IFSC Banking Unit, rated BBB- (Stable) by Fitch and BBB by S&P. The stated use of proceeds is head office/foreign-branch funding and general corporate purposes.