Net interest income (NII) rose 18.81% year-on-year to Rs 3,702 crore in Q4FY26 from Rs 3,116 crore in Q4FY25, while also registering an 8.19% sequential increase. Net revenues, comprising net interest income and other income, rose 13.26% year-on-year to Rs 4,640 crore in Q4FY26 from Rs 4,097 crore in Q4FY25. On a sequential basis, revenues increased 6.55%.
Operating profit grew 16.92% year-on-year to Rs 2,946 crore in Q4FY26 compared with Rs 2,520 crore in the corresponding period, and improved 7.69% on a quarter-on-quarter basis.
Asset quality improved during the quarter, with gross NPA declining to 1.45% as of March 31, 2026, compared with 1.74% a year ago and 1.60% reported in the previous quarter. Net NPA also eased to 0.13% from 0.18% in the year-ago period and 0.15% in the previous quarter.
The provision coverage ratio stood at 98.59% as of March 31, 2026, improving from 98.26% a year earlier and 98.41% as of December 31, 2025.
For FY26, net profit rose 27.17% to Rs 7,019 crore, while net interest income increased 17.13% to Rs 13,664 crore. The domestic net interest margin stood at 3.91%.
HDFC Securities has maintained a Buy rating on Bank of Maharashtra with a target price of Rs 90, implying an upside potential of 20% from current market levels. The brokerage has cited strong earnings performance supported by around 22% year-on-year loan growth. Deposit growth stood at about 14% YoY, trailing advances, while the CASA ratio improved to nearly 52.5%.The brokerage highlighted that credit costs remain below 1%, alongside improving asset quality. It also noted that the bank’s strong deposit franchise helps keep funding costs low and supports margins. Estimate upgrades have been driven by sustained growth and better asset quality trends. However, it flagged the need to monitor risks in the agriculture and MSME portfolios.
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