Bank of Maharashtra

Bank of Maharashtra's net profit fell 328% to INR -47.6 bil in 2018

By Helgi Analytics - November 05, 2019

Bank of Maharashtra made a net profit of INR -47.6 bil under revenues of INR 52.8 bil in 2018, up -328% and 7.87% respectively compar...

Bank of Maharashtra's npls (as % of loans) fell 15.9% to 16.4% in 2018

By Helgi Analytics - November 05, 2019

Bank of Maharashtra's non-performing loans reached 16.4% of total loans at the end of 2018, down from 19.5% compared to the previ...

Bank of Maharashtra's net interest margin rose 8.25% to 2.33% in 2018

By Helgi Analytics - November 05, 2019

Bank of Maharashtra's net interest margin amounted to 2.33% in 2018, up from 2.15% compared to the previous year. Historic...

Profit Statement 2016 2017 2018
Net Interest Income INR bil 31.8 33.9 37.4
Fee Income (As % Of Revenues) % 14.9 16.3 17.0
Other Income INR bil 8.06 7.03 6.47
Total Revenues INR bil 46.8 49.0 52.8
Operating Profit INR bil 18.3 21.9 22.0
Provisions INR bil 32.0 33.4 69.8
Net Profit INR bil -13.6 -11.1 -47.6
Balance Sheet 2016 2017 2018
Interbank Loans INR bil 13.7 0.750 12.3
Customer Loans INR bil 955 858 827
Debt Securities INR bil 385 435 596
Total Assets INR bil 1,594 1,564 1,647
Shareholders' Equity INR bil 74.7 101 58.8
Interbank Borrowing INR bil 0 0 0
Customer Deposits INR bil 1,390 1,390 1,406
Issued Debt Securities INR bil 81.4 40.6 101
Ratios 2016 2017 2018
ROE % -16.6 -12.7 -59.7
ROA % -0.846 -0.704 -2.97
Costs (As % Of Assets) % 1.78 1.71 1.92
Costs (As % Of Income) % 61.0 55.2 58.4
Capital Adequacy Ratio % ... 11.0 11.9
Net Interest Margin % 1.98 2.15 2.33
Loans (As % Of Deposits) % 68.7 61.7 58.8
NPLs (As % Of Loans) % 17.0 19.5 16.4
Provisions (As % Of NPLs) % 33.7 47.0 70.0
Valuation 2016 2017 2018
Market Capitalisation (End Of Period) USD mil 579 555 542
Share Price (End Of Period) INR 33.7 27.7 11.3
Price/Earnings (P/E) ... ... ...
Price/Book Value (P/BV) 0.526 0.351 0.643
Dividend Yield % 0 0 0
Earnings Per Share (EPS) INR -11.6 -8.72 -14.2
Book Value Per Share INR 63.9 78.9 17.5
Dividend Per Share INR 0 0 0

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summary Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                  
Net Interest Income INR bil                     30.3 35.1 38.8 38.8 31.8    
Total Revenues INR bil                     39.5 44.0 48.8 49.0 46.8    
Operating Profit INR bil                     21.5 20.0 23.5 23.5 18.3    
Net Profit INR bil                     7.69 3.99 4.65 1.18 -13.6    
balance sheet                                  
Interbank Loans INR bil                     9.08 1.11 1.00 9.38 13.7    
Customer Loans INR bil                     755 889 986 1,076 955    
Debt Securities INR bil                     315 373 368 363 385    
Total Assets INR bil                     1,170 1,364 1,461 1,610 1,594    
Shareholders' Equity INR bil                     64.3 74.1 81.2 88.6 74.7    
Interbank Borrowing INR bil                     0 0 0 0 0    
Customer Deposits INR bil                     943 1,168 1,221 1,390 1,390    
Issued Debt Securities INR bil                     129 83.3 111 92.3 81.4    
ratios                                  
ROE %                     13.8 5.76 5.98 1.39 -16.6    
ROA %                     0.739 0.315 0.329 0.077 -0.846    
Costs (As % Of Assets) %                     1.73 1.89 1.79 1.66 1.78    
Costs (As % Of Income) %                     45.6 54.5 51.8 52.1 61.0    
Capital Adequacy Ratio %                     ... ... ... ... ...    
Net Interest Margin %                     2.92 2.77 2.75 2.53 1.98    
Interest Income (As % Of Revenues) %                     76.9 79.8 79.5 79.2 67.8    
Fee Income (As % Of Revenues) %                     11.9 12.4 12.2 12.9 14.9    
Equity (As % Of Assets) %                     5.49 5.43 5.56 5.50 4.69    
Loans (As % Of Deposits) %                     80.0 76.1 80.7 77.4 68.7    
Loans (As % Assets) %                     64.5 65.2 67.5 66.8 59.9    
NPLs (As % Of Loans) %         ...           1.49 3.18 6.36 9.37 17.0    
Provisions (As % Of NPLs) % ... ... ... ... ...           62.4 35.3 33.4 31.5 33.7    
valuation                                  
Market Capitalisation (End Of Period) USD mil ... ...                 623 538 625 510 579    
Number Of Shares (Average) mil                     590 711 1,001 1,112 1,168    
Share Price (End Of Period) INR ... ...                 57.9 46.7 39.3 30.4 33.7    
Earnings Per Share (EPS) INR                     13.0 5.61 4.64 1.06 -11.6    
Book Value Per Share INR                     109 104 81.1 79.7 63.9    
Dividend Per Share INR                     2.58 1.18 0.850 0 0    
Price/Earnings (P/E) ... ...                 4.44 8.34 8.48 28.6 ... ... ...
Price/Book Value (P/BV) ... ...                 0.531 0.448 0.485 0.382 0.526    
Dividend Yield % ... ...                 4.46 2.53 2.16 0 0    
Earnings Per Share Growth % ...                   43.9 -57.0 -17.2 -77.1 -1,192    
Book Value Per Share Growth % ...                   10.8 -4.33 -22.1 -1.77 -19.8    
income statement Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                  
Interest Income INR bil                     96.1 120 127 131 121    
Interest Cost INR bil                     65.8 84.5 87.9 91.7 88.9    
Net Interest Income INR bil                     30.3 35.1 38.8 38.8 31.8    
Net Fee Income INR bil                     4.70 5.45 5.93 6.30 7.00    
Other Income INR bil                     4.43 3.44 4.08 3.90 8.06    
Total Revenues INR bil                     39.5 44.0 48.8 49.0 46.8    
Operating Cost INR bil                     18.0 24.0 25.3 25.5 28.6    
Operating Profit INR bil                     21.5 20.0 23.5 23.5 18.3    
Provisions INR bil                     13.9 16.2 19.0 22.4 32.0    
Extra and Other Cost INR bil                     -0.094 -0.154 -0.165 -0.171 -0.160    
Pre-Tax Profit INR bil                     7.69 3.99 4.65 1.18 -13.6    
Tax INR bil                     0 0 0 0 0    
Minorities INR bil                     0 0 0 0 0    
Net Profit INR bil                     7.69 3.99 4.65 1.18 -13.6    
Dividends INR bil                     1.52 0.839 0.851 0 0    
growth rates                                  
Net Interest Income Growth % ...                   20.5 15.8 10.4 0.019 -18.1    
Net Fee Income Growth % ...                   23.7 15.9 8.88 6.21 11.1    
Total Revenue Growth % ...                   24.9 11.5 10.9 0.409 -4.39    
Operating Cost Growth % ...                   9.37 33.4 5.39 1.06 11.9    
Operating Profit Growth % ...                   41.8 -6.76 17.4 -0.294 -22.1    
Pre-Tax Profit Growth % ...                   76.1 -48.2 16.6 -74.6 -1,247    
Net Profit Growth % ...                   76.1 -48.2 16.6 -74.6 -1,247    
market share                                  
Market Share in Revenues % ... ... ... ... ... ... ... ... ...   1.67 1.63 1.61 1.45 1.16   ...
Market Share in Net Profit % ... ... ... ... ... ... ... ... ...   1.30 0.739 0.852 0.287 ... ... ...
balance sheet Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
balance sheet                                  
Cash INR bil                     52.7 59.9 66.5 83.8 153    
Interbank Loans INR bil                     9.08 1.11 1.00 9.38 13.7    
Customer Loans INR bil                     755 889 986 1,076 955    
Debt Securities INR bil                     315 373 368 363 385    
Fixed Assets INR bil                     14.3 14.5 14.3 16.9 15.9    
Total Assets INR bil                     1,170 1,364 1,461 1,610 1,594    
Shareholders' Equity INR bil                     64.3 74.1 81.2 88.6 74.7    
Of Which Minority Interest INR bil                     0 0 0 0 0    
Liabilities INR bil                     1,106 1,290 1,380 1,522 1,519    
Interbank Borrowing INR bil                     0 0 0 0 0    
Customer Deposits INR bil                     943 1,168 1,221 1,390 1,390    
Sight Deposits INR bil                     108 105 109 118 113    
Term Deposits INR bil                     835 1,063 1,112 1,271 1,277    
Issued Debt Securities INR bil                     129 83.3 111 92.3 81.4    
Other Liabilities INR bil                     33.5 38.3 47.1 39.6 47.7    
asset quality                                  
Non-Performing Loans INR bil         ...           11.4 28.6 64.0 104 172    
Gross Loans INR bil                     762 899 1,007 1,108 1,013    
Total Provisions INR bil ... ... ... ...             7.10 10.1 21.4 32.7 57.9    
growth rates                                  
Customer Loan Growth % ...                   34.6 17.8 10.9 9.09 -11.2    
Total Asset Growth % ...                   28.3 16.6 7.12 10.2 -1.00    
Shareholders' Equity Growth % ...                   35.5 15.3 9.62 9.08 -15.7    
Customer Deposit Growth % ...                   23.3 23.8 4.55 13.8 0.043    
market share                                  
Market Share in Customer Loans % ... ...                 1.37 1.38 1.39 1.35 1.16   ...
Market Share in Total Assets %                     1.35 1.35 1.31 1.28 1.12   ...
Market Share in Customer Deposits %                     1.50 1.62 1.50 1.52 1.31   ...
ratios Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
ratios                                  
ROE %                     13.8 5.76 5.98 1.39 -16.6    
ROA %                     0.739 0.315 0.329 0.077 -0.846    
Costs (As % Of Assets) %                     1.73 1.89 1.79 1.66 1.78    
Costs (As % Of Income) %                     45.6 54.5 51.8 52.1 61.0    
Capital Adequacy Ratio %                     ... ... ... ... ...    
Tier 1 Ratio %                     ... ... ... ... ...    
Net Interest Margin %                     2.92 2.77 2.75 2.53 1.98    
Interest Spread % ...                   2.56 2.39 2.38 2.18 1.69    
Asset Yield %                     9.24 9.44 8.97 8.50 7.53    
Cost Of Liabilities % ...                   6.68 7.05 6.59 6.32 5.84    
Payout Ratio %                     19.8 21.1 18.3 0 0    
Interest Income (As % Of Revenues) %                     76.9 79.8 79.5 79.2 67.8    
Fee Income (As % Of Revenues) %                     11.9 12.4 12.2 12.9 14.9    
Other Income (As % Of Revenues) %                     11.2 7.81 8.35 7.96 17.2    
Equity (As % Of Assets) %                     5.49 5.43 5.56 5.50 4.69    
Loans (As % Of Deposits) %                     80.0 76.1 80.7 77.4 68.7    
Loans (As % Assets) %                     64.5 65.2 67.5 66.8 59.9    
NPLs (As % Of Loans) %         ...           1.49 3.18 6.36 9.37 17.0    
Provisions (As % Of NPLs) % ... ... ... ... ...           62.4 35.3 33.4 31.5 33.7    
Provisions (As % Of Loans) % ... ... ... ...             0.940 1.14 2.17 3.04 6.07    
Cost of Provisions (As % Of Loans) %                     2.11 1.97 2.03 2.18 3.15    
other data Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
other data                                  
Employees                 ... ... ... ... ... ... ...    
Sight (As % Of Customer Deposits) %                     11.4 9.00 8.95 8.52 8.14    

Get all company financials in excel:

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Bank of Maharashtra's net interest income rose 10.1% to INR 37.4 bil in 2018

By Helgi Analytics - November 05, 2019

Bank of Maharashtra generated total banking revenues of INR 52.8 bil in 2018, up 7.87% compared to the previous year. Historically, the bank’s revenues containing of interest, fee and other non-interest income reached an all time high of INR 52.8 bil in 2018 an...

Bank of Maharashtra's capital adequacy ratio rose 7.81% to 11.9% in 2018

By Helgi Analytics - November 05, 2019

Bank of Maharashtra's capital adequacy ratio reached 11.9% at the end of 2018, up from 11.0% compared to the previous year. Historically, the bank’s capital ratio hit an all time high of 13.4% in 2010 and an all time low of 10.3% in 2007. The Tier 1 ratio amo...

Bank of Maharashtra's customer loan growth rose 64.1% to -3.65% in 2018

By Helgi Analytics - November 05, 2019

Bank of Maharashtra's customer loan growth reached -3.65% in 2018, up from -10.2% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 39.2% in 2006 and an all time low of -11.2% in 2016. In the last decade, the...

Bank of Maharashtra's customer deposits rose 1.20% to INR 1,390 bil in 2018

By Helgi Analytics - November 05, 2019

Bank of Maharashtra's customer deposits reached INR 1,390 bil in 2017, down 0.053% compared to the previous year. Indian banking sector accepted customer deposits of INR 110,303 bil in 2017, up 3.61% when compared to the last year. Bank of Maharashtra acc...

Bank of Maharashtra's total revenues rose 7.87% to INR 49.0 bil in 2018

By Helgi Analytics - November 05, 2019

Bank of Maharashtra generated total banking revenues of INR 49.0 bil in 2017, up 4.55% compared to the previous year. Indian banking sector banking sector generated total revenues of INR 4,320,359 mil in 2017, up 7.41% when compared to the last year. ...

Bank of Maharashtra's customer loans fell 3.65% to INR 858 bil in 2018

By Helgi Analytics - November 05, 2019

Bank of Maharashtra's customer loans reached INR 858 bil in 2017, down 10.2% compared to the previous year. Indian banking sector provided customer loans of INR 88,362 bil in 2017, up 7.04% when compared to the last year. Bank of Maharashtra accounted for...

Bank of Maharashtra's price/earnings (P/E) rose 238% to 28.6 in 2015

By Helgi Analytics - November 05, 2019

Bank of Maharashtra stock traded at INR 30.4 per share at the end 2015 implying a market capitalization of USD 510 mil. Since the end of 2010, the stock has depreciated by -54.4 % implying an annual average growth of -14.5 %. In absolute terms, the value of the compan...

Bank of Maharashtra's share price (end of period) fell 59.3% to INR 30.4 in 2018

By Helgi Analytics - November 05, 2019

Bank of Maharashtra stock traded at INR 30.4 per share at the end of 2015 implying a market capitalization of USD 510 mil. Since the end of 2010, the stock has depreciated by -54.4 % implying an annual average growth of -14.5 %. In absolute terms, the value of the com...

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Bank of Maharashtra Logo

Finance

Bank of Maharashtra has been growing its revenues and asset by 11.6% and 10.8% a year on average in the last 10 years. Its loans and deposits have grown by 9.20% and 10.4% a year during that time and loans to deposits ratio reached 58.8% at the end of 2018. The company achieved an average return on equity of -3.99% in the last decade with net profit growing nan% a year on average. In terms of operating efficiency, its cost to income ratio reached 58.4% in 2018, compared to 59.4% average in the last decade.

Equity represented 3.57% of total assets or 7.12% of loans at the end of 2018. Bank of Maharashtra's non-performing loans were 16.4% of total loans while provisions covered some 70.0% of NPLs at the end of 2018.

Valuation

Bank of Maharashtra stock traded at INR 11.3 per share at the end of 2018 resulting in a market capitalization of USD 542 mil. Over the previous five years, stock price fell by 75.90000000000001% or 24.7% a year on average. That’s compared to an average ROE of -16.3% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of x and price to book value (PBV) of 0.643x in 2018.