Bank of Maharashtra Q4 FY26: Profit up 35%, dividend

Results snapshot and why it matters

Bank of Maharashtra (BoM) reported strong earnings for the quarter and year ended March 31, 2026, alongside a dividend recommendation and a multi-part fund-raising plan for FY27. The Q4 print showed a sharp year-on-year rise in profit and net interest income, while the bank also disclosed improved asset quality metrics. Separately, a provisional business update pointed to faster balance-sheet expansion, led by advances growth and steady deposit mobilisation. For investors, the combination of higher profitability, low reported NPAs, and planned capital and bond issuance puts focus on how the bank funds growth while staying compliant with shareholding and capital requirements.

Q4 FY26 profit rises 35% YoY

BoM posted a standalone net profit of ₹2,014.09 crore in Q4 FY26, up 34.89% from ₹1,493.08 crore a year earlier. The quarter’s numbers were released amid live earnings updates that also tracked board decisions on dividends and fund-raising. The bank’s annual performance was also highlighted in the same set of updates, framing the quarterly result as part of a broader earnings momentum through FY26.

Net interest income up nearly 19% YoY

Net interest income (NII) rose 18.81% year-on-year to ₹3,702 crore in the January to March quarter of FY26, compared with ₹3,116 crore in the year-ago period. The NII growth matters because it reflects performance of the core lending franchise and funding profile, particularly as deposit costs and loan repricing influence margins across the sector. The update did not provide the quarter’s NIM, but it positioned the NII jump as a key driver of the earnings outcome.

FY26 profit and income: full-year performance

For the year ended March 31, 2026, BoM reported annual net profit of ₹7,019.32 crore. Total annual income for FY26 was ₹32,822.53 crore. On a consolidated basis, net profit after minority interest for the year ended March 31, 2026, was ₹7,016.86 crore, which includes subsidiary and associate entities.

Dividend: final payout plus interim already paid

The board recommended a final dividend of ₹1.20 per equity share, at a rate of 12% on face value of ₹10 each, for FY26, subject to shareholder approval at the ensuing AGM. This is in addition to an interim dividend of ₹1.00 per equity share (10%) declared on January 13, 2026, and paid during the financial year. The two-stage dividend structure was flagged in the live updates alongside the results release.

Fund-raising plan for FY27: equity, infra bonds, and USD bonds

BoM’s board approved multiple fund-raising avenues for FY27, to be executed in multiple tranches where applicable. The bank approved issuance of long-term infrastructure bonds up to ₹10,000 crore during FY27. It also approved raising long-term funds by issuing foreign currency bonds up to $100 million in multiple tranches during FY27. In addition, the board approved raising capital up to ₹7,500 crore through equity capital via routes including preferential allotment to GOI, LIC, FI and or via QIP, FPO, rights, ESPS issue, and or Basel III Additional Tier I bonds and or Tier II bonds, subject to necessary approvals.

Asset quality and capital position as of March 31, 2026

BoM reported improved asset quality metrics as of March 31, 2026. Gross NPA ratio stood at 1.45% and net NPA ratio at 0.13%. Provision coverage ratio was reported at 98.59%. The Basel III capital adequacy ratio was reported at 18.36% for the period, which the bank cited as evidence of a strong capital position.

Deposits and advances: business update shows faster growth

In a separate update, BoM reported a 14% year-on-year increase in total deposits for the fiscal year ended March 31, 2026. Total deposits were ₹350,585 crore as of March-end, compared with ₹307,143 crore in the previous fiscal year. Global advances grew 22% to ₹292,115 crore from ₹239,837 crore a year ago. The update also said total business crossed ₹642,000 crore.

The bank highlighted the RAM (Retail, Agriculture, and MSME) segment as a key driver, contributing ₹179,000 crore to the total book. Domestic corporate advances were reported at ₹112,000 crore, up from approximately ₹94,000 crore last year. Domestic credit-deposit ratio improved to 82% from 78% in the previous year. CASA deposits were reported up 13% to ₹184,000 crore, with a CASA ratio of 53%, and the cost-to-income ratio was cited at approximately 37%.

Stock reaction captured in live updates

Ahead of the results announcement, BoM shares rose 2.05% to ₹74.22 on the NSE, according to the live updates. Separately, the business update narrative said the share price rose by nearly 4.5% in Monday’s trade, and that the stock opened at ₹64.22 versus the previous close of ₹63.89. These moves were tied to investor focus on deposit and advances growth and expectations around the dividend.

Key numbers at a glance

Shareholding compliance context and earlier fund-raise

A separate disclosure in the provided material said BoM planned to raise ₹2,000 crore through an equity issue by FY26 to comply with SEBI’s requirement of 75% public shareholding by August 2026. It said the Government of India held nearly 80% in the bank at the time of that update. Managing Director and CEO Nidhu Saxena said the bank was evaluating the mode and timing, including an Offer for Sale of part of the government’s stake or a fresh equity issuance, and that around ₹2,000 crore should suffice at prevailing prices.

The same update noted that in October 2024 the bank raised ₹3,500 crore through a QIP, which reduced the government’s stake by 7% to 79.6% as of June 30, 2025. It also reported capital adequacy ratio at 20.06% and CET1 ratio at 15.62% at the end of June 2025.

What to watch next

The immediate next milestone is shareholder approval of the final dividend at the ensuing AGM. Markets will also track execution and timing of the FY27 fund-raising plan across equity and bond issuances, and how the bank manages growth while maintaining reported asset quality and capital ratios.