Interim report
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341'-b ale Iaitk at i\'laharasht ra AXI/ISDISTEXI125/2025-26 The Vice President BSE Ltd., P.J Towers, Dalal Street, Mumbai-400 001 The Vice President National Stock Exchange of India Ltd., Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai-400 051 BSE Scrip Code: 532525 NSE Scrip Code: MAHABANK Date: 13th Jan., 2026 Dear Sin Madam, Sub: Outcome of Board Meeting of the Bank held on 13th January, 2026 Financial Results of Bank for the quarter ended on 3l December, 2025 Ref: AX1115D15TEX112212025-26 dated 7th January, 2026 We wish to inform that the Board of Directors of Bank, at their meeting held today ie., on Tuesday, 13th January, 2026 at Pune interalIa, considered and approved the following: Unaudited (Reviewed) Financial Results (Standalone and Consolidated) of the Bank for the Quarter ended on 31.12.2025. U. Declared interim dividend for the FY 2025-26 at the rate of 10% (1.00) per equity share having Face value of 10 each of Bank. Further, pursuant to Regulation 30, 33, 52 and other applicable Regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith the following: A copy of Unaudited (Reviewed) Financial Results (Standalone and Consolidated) of the Bank for the Quarter ended on 31.12.2025 along with Limited Review Report of Auditors thereon and declaration of Audit Report with unmodified opinion. ii. Statement of utilisation of issue proceeds and NIL Statement of Deviation/variation in utilization of issue proceeds for the quarter ended on 31.12.2025. Hi. Security Cover Certificate as on 31 .12.2025. The meeting of Board of Directors of Bank commenced at 10.45 am and the said agenda(s) concluded at 02.00 pm (1ST). Thereafter, the meeting continued for other agenda items. The above information will be made available on the Bank's website: https://bankofmaharashtra.bank.in/financial-results Kindly take the same on your records. Yours faithfully, (Vishal Sethia) Company Secretary & Compliance Officer End: As above UtIR q,iqlcv.f/Head Office: "Lokmangal", 1501, Shivajinagar, Pune-411005 q,itifl cpiqkwicorporate Office: 134/1, Mont Claire, Baner- Pashan Link Road, Pashan, Pune -411021 020 71658139 ci/ Email:investor servicesmahabank.coin ict/Website: www.bankofmaharashtra.barik.in Confidential
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MIs. G D Apte & Co. Chartered Accountants, D-509, Neelkanth Business Park, Nathani Rd, Vidhya Vihar West, Mumbai - 400086. MIs. Sagar & Associates Chartered Accountants, H. No.6-3-244/5 Saradadevi Street Premnagar, Hyderabad - 500004 MIs. Manubhai & Shah LLP Chartered Accountants, G-4, Capstone, Opp Chirag Motors, Sheth Mangaldas Road, Ellisbridge, - 380006 - MIs. S. Singhal & Co. Chartered Accountants, 5-4, Gordhan Enclave, 43, Yudhister Marg, C-Scheme, Jaipur - 302005 Independent Auditors' Limited Review Report on Unaudited Standalone Financial Results of Bank of Maharashtra for the Quarter and Nine Months ended December 31, 2025 pursuant to the Regulation 33 & Regulation 52 Read with Regulation 63(2) of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, as amended. To, The Board of Directors, Bank of Maharashtra, Pune. 1. We have reviewed the accompanying Statement of unaudited Standalone Financial Results of Bank of Maharashtra ("the Bank") for the Quarter and Nine Months ended December 31, 2025 ('the Statement'), being prepared and submitted by the Bank pursuant to the requirements of Regulation 33 & Regulation 52 read with Regulation 63(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015, as amended ("the SEBI Regulations") except for the disclosures relating to "Pillar 3 under Basel III Capital Regulations, Leverage Ratio, Liquidity Coverage Ratio and Net Stable Funding Ratio" which have been disclosed on the Bank's website and in respect of which a link has been provided in the Statement and have not been reviewed by us. This statement is the responsibility of the Bank's Management and has been reviewed and approved by the Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review. 2. This Statement, which is the responsibility of the Bank's Management and reviewed and approved by the Bank's Board of Directors, has been prepared by bank's management in accordance with the recognition and measurement principles laid down in Accounting Standard AS 25 "Interim Financial Reporting", issued by the Institute of Chartered Accountants of India (ICAl), the relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank of India (RBI) from time to time ("RBI Guidelines") and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. Restricted
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3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Perfonned by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India (ICAl). This standard requires that we plan and perform the review to obtain moderate assurance as to whether the statement is free of material misstatement. A review of interim financial information consists of making enquiries, primarily of person responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the standards of Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. The Unaudited Standalone Financial Results incorporate the relevant returns of 20 branches, International Banking Unit situated in Gujarat International Finance Tec-City and Treasury & International Banking Division reviewed by us. In the conduct of our review, we have also relied upon the review reports received from the concurrent auditors of 43 branches specifically appointed for this purpose. These review reports cover 55.02 percent of the advances portfolio of the bank. Apart from these review reports, we have also relied upon various information and returns received from the branches of the bank. 5. Based on our review conducted as above, subject to limitations as mentioned in Para 3 & 4 above, nothing has come to our attention that causes us to believe that the accompanying Statement of Unaudited Standalone Financial Results together with the notes thereon prepared in accordance with the applicable accounting standards and other recognized accounting practices and policies, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52 read with Regulation 63(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, including the manner in which it is to be disclosed or that it contains any material misstatement or that it has not been prepared in accordance with the relevant applicable guidelines / prudential norms issued by the Reserve Bank of India in respect of income recognition, asset classification, provisioning and other related matters, except for the disclosures relating to Pillar 3 under Basel III Capital Regulations, Leverage Ratio, Liquidity Coverage Ratio and Net Stable Funding Ratio as at December 31, 2025, which have been disclosed on the Bank's website and in respect of which a link has been provided in the Statement and have not been reviewed by us. 6. Emphasis of Matter: We draw attention to a) Note No. 1 to the accompanying Statement of unaudited financial results, regarding absence of sufficient number of Independent Directors on the
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Board, the Bank has invoked Para 14A of Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1970 and placed the quarterly/nine-months financial results directly to the Board of Directors for want of quorum in Audit Committee of the Board. b} Note No. 12 to the accompanying Statement of unaudited financial results, regarding Bank continuing to hold COVID-19 related provision of Rs. 1200 Crores as contingency provision as on December 31, 2025. Our conclusion is not modified in respect of above matters. 7. Other Matters The Statement includes comparative figures for the quarter ended September 30, 2025, year ended March 31, 2025, and quarter and Nine months ended December 31, 2024, which were reviewed by an earlier set of four audit firms as joint auditors, two of those are continuing audit firms, and they have expressed unmodified conclusion/opinion vide their report dated October 14, 2025, April 25, 2025, and January 15, 2025. Our conclusion is not modified in respect of the above matter For MIs. Manubhai. For MIs. G D & Shah LLP For MIs. Sagar and Apte & Co. Associates Chartered Accountants I FRN-100SPW Chartered Accountants FRN- 106041W/ W100136 Chartered Accountants FRN -0035 lOS CA S B Rashinkar CA Vitesh D. Gandhi CA D. Manohar Partner Partner Partner M No 103483 M No 110248 M No 029644 UDIN: UDIN: UDIN: 26103483LTBV1Y6891 26110248TNDUJM3504 W43 Place: Pune Date: January 13, 2026 For MIS. S. Singhal & Co. Chartered Accountants FRN - 001526C CA Mukesli Khandelwal Partner M No 074661 UDIN: 2607466 1XCISJR7O77 Restricted
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MIs. G D Apte & Co. Chartered Accountants, D-509, Neelkanth Business Park, Nathani Rd, Vidhya Vihar West, Mumbai - 400086. MIs. Manubhai & Shah LLP Chartered Accountants, G-4, Capstone, Opp Chirag Motors, Sheth Mangaldas Road, Ellisbridge, Ahmedabad- 380006 Mis. Sagar & Associates Chartered Accountants, H. No.6-3-244/5 Saradadevi Street Premnagar, Hyderabad - 500004 MIs. S. Singhal & Co. Chartered Accountants, S-4, Gordhan Enclave, 4B, Yudhister Marg, C- Scheme, Jaipur - 302005 Independent Auditors' Limited Review Report on Unaudited Consolidated Financial Results of Bank of Maharashtra for the Quarter and Nine Months ended December 31, 2025 pursuant to the Regulation 33 and Regulation 52 Read with Regulation 63(21 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 as amended. To, The Board of Directors, Bank of Maharashtra Pune. 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial results of Bank of Maharashtra ("the Parent" or "the Bank"), its subsidiary (the Parent and its subsidiary together referred to as "the Group") and its share of the net profit/(loss) after tax of its associate for the Quarter and Nine months ended December 31, 2025 ('the Statemenfl, being submitted by the Bank pursuant to the requirements of Regulation 33 and Regulation 52 read with Regulation 63(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015 as amended, except for the disclosures relating to "Pillar 3 under Basel III Capital Regulations, Leverage Ratio, Liquidity Coverage Ratio and Net Stable Funding Ratio" which have been disclosed on the Bank's website and in respect of which a link has been provided in the Statement and have not been reviewed by us. This statement is the responsibility of the Bank's Management and has been reviewed and approved by the Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review. Restricted
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2. The Statement, which is the responsibility of the Bank's Management and reviewed and approved by the Bank's Board of Directors, has been prepared by bank's management in accordance with the recognition and measurement principles laid down in Accounting Standard AS 25 Interim Financial Reporting", issued by the Institute of Chartered Accountants of India (ICAl), the relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank of India (RBI) from time to time ("RBI Guidelines") and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entltgj', issued by the Institute of Chartered Accountants of India (ICAl). This standard requires that we plan and perform the review to obtain moderate assurance as to whether the statement is free of material misstatement. A review of interim financial information consists of making enquiries, primarily of person responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the standards of Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable. 4. The Statement includes results of the following entities: i. Bank of Maharashtra (Parent) ii. The Maharashtra Executor and Trustee Company Private Limited (Subsidiary Company) iii. Maharashtra Gramin Bank (Associate) 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the concurrent auditors and other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement prepared in accordance with the recognition and measurement principles laid down in the aforesaid Accounting Standard, RBI
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Guidelines and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52 read with Regulation 63(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended, including the manner in which it is to be disclosed or that it contains any material misstatement or that it has not been prepared in accordance with the relevant applicable guidelines/prudential norms issued by the Reserve Bank of India in respect of income recognition, asset classification, provisioning and other related matters, except for the disclosures relating to Pillar 3 under Basel III Capital Regulations, Leverage Ratio, Liquidity Coverage Ratio and Net Stable Funding Ratio as at December 31, 2025, which have been disclosed on the Bank's website and in respect of which a link has been provided in the Statement and have not been reviewed by us. 6. Emphasis of Matter: We draw attention to: a) Note No. 1 to the accompanying Statement of unaudited financial results, regarding absence of sufficient number of Independent Directors on the board, the Bank has invoked Para 14A of Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1970 and placed the quarterly/nine months financial results directly to the Board for want of quorum in Audit Committee of the Board. b) Note No. 12 to the accompanying Statement of unaudited financial results, regarding Bank continuing to hold COVID-19 related provision of Rs. 1200 Crores as contingency provision as on December 31, 2025. c) Note No. 18 to the accompanying Statement of unaudited financial results and para 5(a) and 5(b) of the Emphasis of Matter paragraph (EOM) included in the Independent Auditors' Limited Review Report on the Financial Results of Maharashtra Gramin Bank, an associate of the Parent, issued by an independent firm of Chartered Accountants vide their report dated January 9, 2026, the said EOM is reproduced as under: Note No. 6 relating to Un-amortized Pension Liability amounting to 209.59 Crores as permitted by RBI in terms of their letter no. RBI/2024-25/ 127 DOR.ACC.REC.No.67/2 1.04.018/2024-25 Dt. 20 Mar, 2025. (Refer Note No. 18(i) to the Statement of unaudited financial results for the period ended December 31, 2025).
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ii. Notes No. 3,11,12 and 13 relating to the reconciliation and elimination of entries in inter branch and internal/office accounts including those relating to e-VKGB and issues relating to IS Audit, process of migration and compliance relating to Micro, Small and Medium Enterprise Development Act,2006 and disclosure if any required; which are at different stages. (Refer Note No. 18(u) to 18(v) to the Statement of unaudited financial results for the period ended December 31, 2025). Our conclusion on the Statement is not modified in respect of the above matters. 7. Other Matters: a) In the conduct of our review, we have also relied upon the review reports received from the concurrent auditors of 43 branches specifically appointed for this purpose, included in the standalone unaudited interim financial results of the Parent included in the Group. Apart from these review reports, we have also relied upon various information and returns received from the branches of the bank. b) We did not review the interim financial results of the subsidiary included in the unaudited consolidated financial results, whose interim financial result reflects total assets of Rs. 25.54 Crore as at December 31, 2025 and total revenues of Rs. 0.78 Crore and Rs. 2.56 Crore and total net profit after tax of Rs. 0.27 Crore and Rs. 0.95 Crore for the quarter/nine months ended December 31, 2025, respectively as considered in the unaudited consolidated financial information. The unaudited consolidated financial results also include Group's share of net profit/(loss) after tax of Rs. 19.41 Crore and Rs. (34.20) Crore for the quarter/nine months ended December 31, 2025, respectively, as considered in the unaudited consolidated financial results, in respect of the associate, whose interim financial results has not been reviewed by us. These interim financial results have been reviewed by other auditors whose reports have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiary and associate, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. a a I Li (1 JAIPUR ¼.J \i::ý::ji;;/ ';3e' Restricted
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c) The Statement includes comparative figures of the group for the quarter ended September 30, 2025, year ended March 31, 2025 and quarter and nine months ended December 31, 2024, which were reviewed by an earlier set of four audit firms as joint auditors, two of those are continuing audit firms, and they have expressed unmodified conclusion/opinion vide their report dated October 14, 2025, April 25, 2025, and Jarivaiy 15, 2025. Our conclusion on the Statement is not modified in respect of the above matters. For MIs. G B Apte &Co. Chartered Accountants FRN-10051 W CAVitesh D. Gandhi CA S B Rashinkar For MIs. Manubhai & Shah LLP Chartered Accountants FRN- 106041W/ W100 136 Partner MNo 103483 - UDIN: 26 103483SPXEKD9864 Partner MNo 110248 For MIs. Sagar & Associates Chartered Accountants FRN - 0035 lOS CA D. Manohar Partner M No 029644 UDIN: 26110248RSTFNC9446 Place: Pune Date: January 13, 2026 UDIN: 26029644PGUDZF7622 For MIs. S. Singhal & Co. Chartered Accountants FRN - 001526C CA Mukesh Kumar Khandelwal Partner M No 074661 UDIN: 2607466 1YKJDPV693S Restricted
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U1 Bank of Maharashtra BANER PASHAN LINK ROAD, PASHAN, PUNE-411021 CORPORATE OFFICE: MONTCLAIRE, UNAUDITED STANDALONE FINANCIAL RESULTS FOR QUARTER I NINE MONTHS ENDED 31ST DECEMBER 2025 ( in Iakh) PARTICULARS QUARTER ENDED NINE MONTHS ENDED 31.12.2025 30.09.2025 31.12.2024 31.12.2025 31.12.2024 31.03.2025 UNAUDITED UNAUDITED AUDITED 1 Interest earned (a) + (b) + (c) + (d) 734420 712838 632465 2152649 1821667 2494745 (a) Interest / discount on advances I bills 564710 545071 491693 1650520 1405834 1929151 (b) Income on Investment 165095 163382 136699 477748 398058 536043 (c) Interest on balances with Reserve Bank of India and other inter bank funds 2582 3232 3101 20153 13762 20263 (d) Others 2033 1153 972 4228 4013 9288 2 Othe Income 93286 84523 78778 260300 247351 345417 A. TOTAL INCOME (1+2) 827706 797361 711243 2412949 2069018 2840162 3 Interest Expended 392192 388081 338138 1156492 966754 1328188 4 Ope ating Expenses (e) + (f) 161957 151855 142804 468481 422336 580071 (e) Employees cost 79786 82206 84968 250026 256126 344223 (f) Otheroperating expenses 82171 69649 57836 218455 166210 235848 B. TOTAL EXPENDITURE (3)+(4) (excluding Provisions and Contingencies) 554149 539936 480942 1624973 1389090 1908259 C. OPERATING PROFIT (A-B) . (Profit before Provisions and Contingencies) 273557 257425 230301 787976 679928 931903 D. Provisions (otherthantax) and Contingencies (Net) Of which: Provisions for Non-performing Assets 72819 75587 84070 235148 261329 359655 65998 58301 59319 196202 177774 241732 E. Exceptional Items - - - - - - F. NetProfit/(Loss)beforeTax(C-D-E) 200738 181838 146231 552828 418599 572248 G. Provision for taxes (Tax Expenses) 22805 18524 5586 52305 15928 20269 H Net Profit! (Loss) after Tax (F-G) 177933 163314 140645 500523 402671 551979 I. Extraordinary items ( net of tax expense) - - - - - - J Net Profit/(Loss)forthe period (H-I) 177933 163314 140645 500523 402671 551979 5 Paid-up equity share capital (F.V. of Rs. 10/- share) 769155 769155 769155 769155 769155 769155 6 Reserves excluding revaluation reserves (as per Balance Sheet of previous accounting year) 1890346 1890346 1114918 1890346 1114918 1890346 7 Analytical ratios (i) Percentage of shares held by Govt. of India 73.60 79.60 79.60 73.60 79.60 79.60 (U) Capital Adequacy Ratio (Basel Ill) (in %) 17.06 18.13 18.71 17.06 18.71 20.53 (a) CET 1 Ratio 13.10 14.05 13.60 13.10 13.60 15.83 (b) Additional Tier 1 Ratio 0.85 0.91 1.10 0.85 1.10 1.03 (iU) Earning per share (Not Annualized) 2.31 2.12 1.83 6.51 5.53 7.48 (iv) NPA Ratios (a) Amount of gross non performing assets 438779 437206 412430 438779 412430 418452 (b) Amount of net non performing assets 41229 44208 44277 41229 44277 43178 (c) % of gross NPAs 1.60 1.72 1.80 1.60 1.80 1.74 (d) % of net NPAs 0.15 0.18 0.20 0.15 0.20 0.18 (v) Return on Assets (annualized) (%) 1.86 1.82 1.78 1.83 1.74 1.75 (vi) Paid up Debt Capital! Outstanding Debr (%) 19.79 24.10 43.57 19.79 43.57 25.19 (vU) Debr* Equity Ratio 0.60 0.60 0.45 0.60 0.45 0.72 (vhi) Total debts* to Total Assets (%) 7.72 6.67 4.60 7.72 4.60 6.46 (ix) Operating Margin (%) 33.05 32.28 32.38 32.66 32.86 32.81 (x) Net Profit Margin (%) 21.50 20.48 19.77 20.74 19.46 19.43 (xi) Net Worth 2992284 2893385 2530969 2992284 2530969 2588052 (xii) Capital/Debenture Redemption Reserve - - - - - - (xUi) Outstanding Redeemable Preference Shares - - - - - - ficet0tsoioe . R
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C'D Sank of N-1aF-iarasl--itra STANDALONE SEGMENT REPORI1NG DECEMBER 2025 !. In luRks SN. PARTICULARS QUARTER ENDED NINE MONTH ENDED YEAR ENDED 31.122025 30.09.2025 31.122024 31.12.2025 31.12.2024 31.032025 tJnaudited} (Llnatadieed} (IJraaydited) (Unutudited) Uraaudite (haadftedl Segment Revenue a) TretauryOperationo 155786 180934 148800 528023 433587 - $87789 b) Corporate lWholanale Banking Operatiorn 287682 265856 235779 813962 714502 980330 ci Retail Banking Operations 378313 347083 328392 1064654 908313 1247218 1) Digital Banking 27 22 14 70 27 - 44 2) OTher Retail Barking 378202 347861 320378 1064584 907886 1247174 d) 011rer Banking Operations 6919 3528 2472 14310 12916 24025 a) Unallocated . 8 . 0 Total $21786 797361 711143 2412940 2861018 2848102 Less: Inter Segment Revenue . e - 0 - Income from Operatimnu 827706 797341 711143 2412140 2061018 2*48102 - 2 Segment ReasOn I FroSt / (Losnl before Taxi a) Treanury Opemtions 13582 43287 29628 110381 99583 135629 b) Corporate lvmoleralo Uanking Operations 80208 68306 56098 204270 183704 .270800 ci Retell Banking Operatioeta 105027 67772 59524 222979 125009 159756 1) Digital Banking (19) (43) 26) (91) (871 (129) 2) Other Retell Barking 105046 67815 59550 223070 126096 156884 d) Other Banking Operations 1920 2473 980 6197 3303 6064 e) Unallocated . . . Total 200730 181838 146231 552820 418899 572148 Less: Other un-allocable expenditure net off . . 0 - 0 * Total Profit before Tax 206738 181838 146231 552820 418599 - 51224$ Taxes including Deferred Tanee 22805 18524 5586 52305 15328 20268 Enbanr8naryProli8/Loaa 0 - 0 - Net Profit atlerTex 177933 163314 140845 580623 492871 551978 3 Segment Assets (SAl - a) Treasury Operations 98512750 18077301 8450292 10512750 8450282 11203706 b) Corporate I ce,olesale Banking 12892709 12102755 12189388 12592709 12189369 12030780 c) Retail Banking 14485192 13331524 10602592 14485192 10682592 11310341 1) Digital Banking 1475 1222 736 1475 736 - 835 2) Otter Retail Baxkieg 14483717 13330303 10631855 14413717 10631855 11378606 di Other bankirg operatiantu 1172830 1611986 1352378 1172830 1352378 1459942 n) Unallocated 258935 249280 254296 258935 254286 239447 Total assets 39322418 37372856 32569546 39322416 32968546 31914fl6 4 Segment Lisloilitien (SL) a) Treasury Operatiora 10343634 3893346 8315391 10343634 8315921 11067911 b) Crapornte /998,oteaale Banking 11427446 10926010 10973558 11753964 10873156 11455424 c) Rslait Banking 12814060 12013335 9667943 12814080 3687043 10274402 1) Digital Bauking 1723 1452 1350 I723 1050 1290 2) Orhnr Retail Banking 12812337 12011883 9655393 12812337 3685993 10273112 d) Other heal/rig oparelirns 1406279 373483 1304833 1073741 1304633 1152179 e) Uretlocatnd 0 0 35267 0 35267 115373 0 Capital & Reservea & Sarplar 3333995 3160682 2753454 3330998 2753454 2846927 Total liabilIties 39322416 37372856 32989546 39322416 32969546 38994216 Capital Employed )SA.SL) a) Treasury Operations 169116 177355 134301 163116 134301 135796 b) Corporate I Wholesale Banking Opsrebxnn 1132726 1176755 1316230 1132726 1316233 1175336 c) Retail Barking Operatonn 1671132 1318189 1005548 1671132 1005548 1105939 1) Digital Banking (249) 230) (314) (248) (314) (356) 2) Other Retail Banking 1671361 r 318419 1305e62 1671381 1005862 110695 d) Other Barking Operations 99089 238503 78345 99089 78345 307763 a) Unallocated 251935 249280 219030 256335 219339 124094 Total 3330990 3166682 2753454 3330990 2753454 2848821 GEOGER.APHICAL SEGMENTS QUARTER ENDED NINE MONTH ENDED YEAR ENDED 31.122025 30.09.2025 31.122924 31.122025 31.122024 31.03.2025 (IJaseudited) (unsudlted) (Unaudited) )Unuudlt.d) )Urtendtted) (Aeadlted) I Revenue ''S.. a Domestic 523950 796754 711243 2408585 2069018 2840162 Intemalianal 3755 607 HA 4363 NA NA Total 827705 797361 711243 2412945 2069018 2840162 2 Asaets - a Oxmeotir 1593239 37279980 32639546 38966096 32969546 36914216 International 263452 92808 NA 356320 NA NA Total 1866691 37372856 32969546 1856691 32969546 3661421'S Bate I. prrhaxs pence tigarea bass kerr xagroupad/reclxxx4ed nleerevernenrxxa,y to slake thrIll comparable (Ma/oam aggrrçated eapoaxra locale 0000ler pall bnto,r Ra. 7.5 Cr. box been canal/as as tislail Eapea,o'r.) 2 As per Rat paideooaa and iv compliance alt, 9ee appocakle Acnaaotiag Standanda, the Bask ha, claoailrd 7raaaaq OpmaOmsT llntad Saakmg OprlalooaT 81,olraaln Barking 4matcsoTaad Other Backlog Cpn'aticnfaa psl'ma,y beater,, aegmarla and force peepcaa ofcompniaaca e,,ffi AS-lisa Sagn,aenl Rapartap lassee by cit Dooeaa', and 11r1om50'naal as aacaday,igaagmpkic argmeata. 3 lalaonatiav ahoid Digital Banking Segmantrapoqlad usa oab-oagmaal afRaatil saakiaq Segment I, related I, Dig/al 8aakipa tin/a ortha Bask
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c Bank of Maharashtra CORPORATE OFFICE: MONTCLAIRE, BANER PASHAN LINK ROAD, PASHAN, PUNE-411021 UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER! NINE MONTHS ENDED 31ST DECEMBER 2025 ( in lakh PARTICULARS QUARTER ENDED NINE MONTHS ENDED YEAR ENDEE 31.12.2025 30.09.2025 31.12.2024 31.12.2025 31.12.2024 31.03.2025 (Unaudited) (Unaudited) (Audited) 1 Interest earned (a) + (b) + (c) + (d) 734422 712836 632468 2152656 1821677 249475 (a) Interest / discount on advances (bills 564710 545071 491693 1650520 1405834 192915 (b) Income on Investment 165097 163380 136702 477755 398068 53605 (c) Interest on balances with Reserve Bank of India and other inter bank funds 2582 3232 3101 20153 13762 2028 (d) Others 2033 1153 972 4228 4013 928 2 Other Income 93300 84550 78798 260370 247408 34550: A. TOTAL INCOME (1+2) 827722 797386 711266 2413026 2069085 284026 3 Interest Expended 392156 388040 338103 1156387 966657 132805 4 Operating Expenses (e) + (1) 161976 151872 142824 468535 422392 58015' (e) Employees cost 79769 82188 84955 249976 256090 34417 (f) Other operating expenses 82207 69684 57869 218559 166302 23597: B. TOTAL EXPENDITURE (3)+(4) (excluding Provisions and Contingencies) 554132 539912 480927 1624922 1389049 190820 C. OPERATING PROFIT (A-B) (Profit before Provisions and Contingencies) 273590 257474 230339 788104 680036 93205: 0. Provisions (other than tax) and Contingencies (Net) 72818 75588 84069 235147 261330 35965' Of which: Provisions for Non-performing Assets 65998 58301 59319 196202 177774 241 73: E. Exceptional Items - - - - - - F. Net Profit ((Loss) before Tax (C-D-E) 200772 181886 146270 552957 418706 57239: 6. Provision for taxes 22814 18536 5597 52340 15957 2030: H Net Profit! (Loss) after Tax (F-G) 177958 163350 140673 500617 402749 55208' I. Extraordinary items ( net of tax expense) - - - - . - J Net Profit! (Loss) for the period (H-I) 177958 163350 140673 500617 402749 55208 K Share in profit of Associates " 1941 3511 487 -3420 1197 209 L Share of Minority Interest - - - - - - M Net Profit! Loss after Minority Interest (J+K-L) 179899 166861 141160 497197 403946 554Th 5 Paid-up equity share capital (FV of Rs. 10 per share) 769155 769155 769155 769155 769155 76915 6 Reserves excluding revaluation reserves (as per Balance Sheet of previous accounting year) 1912217 1912217 1134591 1912217 1134591 191221' 7 Analytical ratios (i) Percentage of shares held by Govt. of India 73.60 79.60 79.60 73.60 79.60 79.61 (ii) Capital Adequacy Ratio (Basel III) (%) NA (a) CET I Ratio (b) Additional Tier 1 Ratio (Hi) Earning per share (in Rs.) (Not Annualized) 2.34 2.17 1.84 6.46 5.55 7.5 (iv) NPA Ratios a) Amount of gross non performing assets 438779 437206 412430 438779 412430 41845: b) Amount of net non performing assets 41229 44208 44277 41229 44277 43171 c)%of gross NPAs 1.60 1.72 1.80 1.60 1.80 1.7' d) % of net NPAs 0.15 0.18 0.20 0,15 0.20 0.11 (v) Return on Assets (annualized) (%) 1.88 1.86 1.78 1.81 1.75 1.71 (vi) Operating Margin (%) 33.21 32.59 32.43 32.56 32.91 32.8' (vU) Net Profit Margin (%) 21.68 20.83 19.83 20.63 19.51 19.51 (vHi) Consolidated Net Worth 3001 870 2871955 2551906 3001870 2551906 2609911
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C*i) Sanl-c of N.'laFnarasl-itra CONSOLIDATED SEGMENT REPORTING DECEMBER 2025 !. In laths SN. PARTICULARS QUARTER ENDED NINE MONTH ENDED YEAR ENDED 31.121025 30.09.202! 3112.2024 31.122025 31.12.2024 31.032025 (Llnaudioed} (Uneudited) (Unaudited) (Utnaudll.d( (Unoudited( (Audited) Segment Revenue a) Treasury Operations 155705 090934 148600 520523 433587 587789 b) Corporals! Who)eoala Basking Operations 287682 265818 231779 813962 714502 98O33 o) Retail Banking Operattoea 378319 347683 328392 1064654 908013 1247218 *1) Digial Banking 27 22 14 70 27 44 2) Oilier Retail Banking 378202 347861 328378 1064584 907985 1247174 8) Other Barking Operaocoo 7876 7064 2982 10967 14100 27014 e) Unallocated 0 0 0 0 0 0 Total 929883 800997 711753 2409886 2670282 2842351 Less: Inter Segment Revenue 0 0 0 0 0 0 Income from OpersOone 820663 805697 711753 2400106 2070282 2842351 2 Segment Results I Profit) (Loss) before Tax a) Treaaary Operatonu 93582 43207 28629 119381 99503 135829 b( Corporate [Wholesale Barking Operations 80224 68323 56113 204316 183746 270857 c) Retail Banking Operaoeero 106048 67785 59545 223038 126063 159827 1) Digital Barking (19) (43) (25) (91) (87) (129) 2) Other Retail Bsnkirg 106067 67830 59571 223130 126158 159966 d) Other Barking Operations 3059 5332 1470 2601 4511 8173 e)Uaatlecated 0 0 0 8 0 Total 282713 185397 146757 549535 419903 5744U Less: Other una11acs81u eopenditure coo off 0 3 0 0 0 0 Total Profit before Tax 202713 189397 146757 549535 419903 574404 Taxes including Defetord Taxes 22014 t 0536 5597 52339 15957 20308 Elteaondinary Profit) Lone B 3 0 0 8 0 Net Profit afterTax 179099 166881 141100 497197 403845 554178 3 SegmentAsseta a)TneaoeryOperaoors 18512790 10077301 8450292 10512750 8450292 11203736 b) Corporate [Wholesale Banking 12092789 12102765 12186388 12892709 62189380 12630760 c) Retail Banking 14485132 13231524 10692592 14465192 60692592 11380341 1)DigitalBarkiag 1475 1222 736 1475 736 935 2) Other Retail Barking 14483717 32)3)303 10691055 14483717 10691655 01279405 d) Other baaldrg opar001ooro 1181819 1588812 [4)3245 1181619 1402245 1461107 e) Unallocated 258934 249280 254206 258934 254296 239467 Total aseets 39331204 2735068) 32989813 39331204 32989813 36935301 4 Segment liabiutles a)TreaoaryOperations 18343534 0893346 8315991 1034)634 8)15001 11067911 b) Corporate [Wholesale Barking 11759984 18926010 10073158 11759384 18873158 11455424 c( Retail Bankir; 12814060 1201)335 9687843 12014060 9687043 13274402 1) Digital Barking 1723 1452 1850 172) 1050 1290 2) Other Retail Barkiog 12012337 12011083 9665903 12812337 8685993 1073112 it) Other baakirg operations 1372935 t 972731 1303552 1072935 1)0)852 1151473 e) Unolkacated t 35267 0 35267 119373 Capital & Reserves & Surplus 3340591 3139268 2774462 3340591 2774402 2870198 Total lIabilities 39331204 37350663 32919013 39331204 32989813 38935349 5 Capital Employed - (SegmenfAnnets. Segment Liabil0iea) a) Treasury Operattona 188116 177955 134301 n69116 134301 135795 b) Corporate t Wholesale Banking Opeutiono 1132726 1176755 1316230 1132726 1316230 1175336 c) Retail Barking Operutioeo 1671132 [318109 1005040 1671132 1605548 1105939 '1) Digital Banking (249) 233) (314) (249) (304) (356) 2) Other Retail Barking 1671301 1308419 0009662 1671381 1005662 1136295 d) Other Banking Operations 108603 217081 99294 100683 69264 329634 e) Unattocaled 250035 249209 219023 250935 210029 124094 Total 3340591 3139280 2774402 3340591 2774492 2870798 GEOGEPAPHICAL SEGMENTS QUARTER ENDED NINE MONTH ENDED YEAR ENDED 31.122929 30.09.2025 31.12.2024 31.12.2025 31.12.2024 31.03.2025 (Lltaaladlted) (Unaetdtted) (uneudlted) (Unaud0ed) (IJnaudtted) (Audlfed} I Revenue a Domestic 825909 800290 700753 2405243 2070282 2842351 lntem000qtal 3755 607 NA 4363 NA NA Total 829684 800097 711753 2409506 2070202 2042351 2 Assets a Domestic 39667753 37257804 32989613 39367793 32988613 - 30935361 b lulematonol 263452 928(6 NA 263452 NA NA Total 39331204 37350693 32a99013 39331204 32880613 86935381 Note 0 Peadoos period figures have teen negrxuped/reriussffied wh meal necessary to ala e rtam comparable Mexico agnrogutad exposure to ova counrxerparl balsa Ps 700th n hero considered an Retutt Exposure) 2 As per PSi gei*9oreo ondse cemplruxce coin the upptcekte Accouvhrq Slundundo. Oh Bark bus cnuontttnd 7maaoty Operuocens. 34etunt Berekeeu rutiunnT 34lonieoute Seething Operalloeaard terar Masking Opererie sac primary bontrneuo sogsoontn end! r tue purpose efcompd once with 45-07 xx Segerent Reposxtrnp issued by CAt rynpranlic' and totaneatsseur so oacxodayleeoqreptric oegnegtn 3 leecrnxratin ubnouoipirel Seeking Se9nennl repeled eeaonsb-segmoxl x!Reebl uuxb/ne Oegnrreolis related to Otgtlut Bunking Veto o70a Bunk
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NOTES FORMING PART OF STANDALONE AND CONSOLIDATED (UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER 2025 The above Financial Results have been reviewed and approved by the Board of Directors in their meeting held on 13th January 2026. In the absence of sufficient number of Independent Directors on the Board, Bank has invoked Para 14A of the Nationalized Banks (Management and Miscellaneous Provisions) Scheme, 1970 and placed the quarterly/nine months financial results directly to the Board for review and approval for want of quorum in Audit Committee of the Board. These results have been subjected to "Limited Review" by the Statutory Central Auditors of the Bank and are in compliance with SEBI (Listing Obligations and Disclosures Requirements) Regulation, 2015. 2 These financial results have been prepared in accordance with the recognition and measurement principles generally accepted in India, including the Accounting Standards issued by ICAl, and relevant provisions of the Banking Regulation Act,1949 and circulars, guidelines and directions issued by Reserve Bank of India (RBI) from time to time and in compliance with the presentation and disclosure requirements of regulation 33 and 52 read with Regulation 63(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("the Listing Regulations") as amended including relevant circulars issued by the SEBI from time to time. 3 The Financial Results for the quarter! nine months ended 31st December 2025 have been arrived at after considering provision for non-performing assets, standard assets (including COVID -19 related provision), restructured accounts, loss on sale of assets to ARCs, provision towards non-performing investments, fair valuation of investments, provision for exposure to entities with unhedged foreign currencies, provision on project finance, provision for employee benefits, depreciation on fixed assets, taxes and other usual and necessary provisions on the basis of prudential norms, estimates and specific guidelines issued by RBI. 4 The Bank has applied its accounting policies in the preparation of these financial results that are consistent with those followed in the annual financial statements for the year ended 31st March 2025. - 5 Based on the available financial statements and the declaratiQcs from borrowers, the Bank has estimated the liability towards unhedged foreign currency exposure to their constituents in terms of RBI Circular DOR.MRG.REC.76!00-00-007!2022-23 dated 11.10.2022 and holds a provision of 4.44 crores as on 3V' December 2025. 6 As per extant RBI guidelines, Banks are required to make Pillar III disclosures including leverage ratio, liquidity coverage ratio and Net Stable Funding Ratio (NSFR) under the Basel Ill framework. Accordingly, such applicable disclosures have been placed on the website of the Bank which can be accessed at the following link: https:/!www.bankofmaharashtra.in/basel-iii- disclosure. These disclosures have not been subjected to audit or review by the Statutory Central Auditors of the Bank. 7 The Provision Coverage Ratio (PCR) as on 3Vt December 2025 is 98.41% 8 During the 9 Months ended December 31, 2025, the Bank has reported 285 fraud cases involving 807.28 crores with a loss of 725.71 crores. Out of which 57 cases amounting. to 1.79 crores were related to digital payment fraud and were reimbursed to customers by debiting profit & loss account, requiring no provisioning. Further in respect of remaining fraud cases, bank is holding 100% provisions to the extent of loss i.e. 723.92 crores. Out of the above, 4 cases of borrowal frauds of earlier years were later deactivated as fraud by RBI in compliance with the Hon'ble Supreme Court Judgement. All the 4 borrowal frauds amounting to 601.23 Crores are now re-declared as fraud during 9 months of FY 2025-26 after following due process. 9 During the 9 months, the Reserve Bank of In.ia has levied penalties of the bank. Jhçe has for .t . -cember 2025.
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10 On V December 2025, the Government of India, as promoter, initiated and successfully completed an Offer for Sale (OFS) of 46.15 crore equity shares, representing 6% of the Company's paid-up capital, in line with SEBI guidelines. The OFS involved only the sale of existing shares with no proceeds to the Bank. During the quarter, the Offerfor Sale (OFS) was successfully completed, resulting in compliance with SEBI's minimum public shareholding requirement of 25%. 11 Board of Directors in its meeting dated 131h January 2026 has approved Interim Dividend @10% i.e. 1 per equity share (Face Value of 10/- per share). 12 The Bank continues to hold COVID-19 related provision as contingency provision amounting to 1200 crores as on 31st December2025. 13 During the 9 month ended 3l December 2025, the Bank has done following PSLC transactions in e-Kuber portal of RBI: in crore PSLC Category Amount sold Amount purchased Commission earned Commission paid PSLC-Agri NIL 5000 NIL 63.61 14 Impact of RBI Circular No RBI/2018-19/2013 DBR No BP.BC.45/21.04.04812018-19 dated 07.06.2019 on resolution of stressed assets - Revised framework is as follows: in crore Amount of Loans impacted by RBI Circular (A) Amount of loans to be classified as NPA (B) Amount of Loans as on 3Pt December 2025, out of (B) classified as NPA (C) Addl. Provision required for loans covered under RBl circular. (D) Provision out of (D) already made by 3Vt December 2025 850.10 - - - - 15 Details of loan transferred/ acquired during the quarter ended 31st December 2025 under the RBI Master Direction on Transfer of Loan Exposures dated 24th September 2021 are given below: i. The Bank has not transferred any stressed loan (Non-performing asset and Special Mention Account) and loan not in default. U. Details of loans not in default acquired through assignment are given below: Particulars flncrore (Quarter) Uncrore (9 Months) Aggregate amount of loans acquired 5,080.82 11,462.37 Weighted average residual maturity (in months) 35.81 33.16 Weighted average holding period by originator (in months) 10.27 9.31 Retention of beneficial economic interest by the originator 10.00% 10.00% Tangible security coverage 7.22% 12.72% The loans acquired are not rated as these are to non-corporate borrowers. iii. The Bank has not acquired any stressed loan. iv. Recovery Ratincis assicined to Outstandinci SRs by the credit ratina aaencies: Recovery Rating Band* Amount in crore RR1 - RR2 - RR3 - RR4 - RR5 - Rating Withdrawn - \ ,4--Sý\ /%iý\
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16 The Consolidated Financial Results are prepared in accordance with AS 21 on "Consolidated Financial Statements" and AS 23 on "Accounting for investment in Associates'. 17 The Consolidated Financial Results of the group are comprised as under: - Bank of Maharashtra (Parent). H. The Maharashtra Executor and Trustee Company Private Limited (Subsidiary Company). Hi. Maharashtra Gramin Bank (Associate). In respect of Maharashtra Gramin Bank, Central Government vide Gazelle Notification No. CG-DL-E-07042025-262329 dated 07.04.2025 notified amalgamation of Vidharbha Konkan Gramin Bank (VKGB) with Maharashtra Gramin Bank (MGB). Accordingly, Vidharbha Konkan Gramin Bank, sponsored by Bank of India is amalgamated into Maharashtra Gramin Bank Sponsored by Bank of Maharashtra with effect from May l 2025 (having 35% share). Further, on account on the above amalgamation of VKGB with MGB, the carrying amount of bank investment in associate amounting to 380.02 crores has been adjusted as under " Bank undertook valuation of its associate and accordingly impairment loss of Rs 290.49 crore was booked in Standalone Financial Statement of the Bank during the quarter. " Balance amount of Rs.89.53 crore has been adjusted in opening Reserves & Surplus of the consolidated financials as per AS-23 "Accounting for investment in Associates". 18 In respect of Maharashtra Gramin Bank (Associate) (MGB): i. Maharashtra Gramin Bank (Employees') Pension Regulations, 2018 has been published in Gazette of India, and also amended the pension regulation, published in official gazelle on 05 Nov 2024. According to the amended gazette now the effective date of pension changed from Vt April 2018 to 01 Nov 1993. Due to the change in the effective liability of pension trust arises in the form of Pension arrears from 01 Nov 1993 to 31 Mar 2018. However, RBI vide their letter no. RBI/2024-25/127 DOR.ACC.REC.No.67/21.04.018/2024- 25 Dt. 20 Mar, 2025, has permitted Banks to amortize the said additional liability over a period of not exceeding 5 (five) years, beginning with financial year 2024-25, subject to a minimum of 1/5th of the total amount being expensed every year. Bank has opted the said provision of RBI and accordingly charged an amount of 1612.26 Iakhs for the quarter ended on December 31,2025 and Rs. 4,299.36 Iakhs for the Eight months' period ended on December 31,2025; to the Profit & Loss account and the balance unamortized expense of Rs 20959.39 lakhs has been carried forward. Had the MGB charged the entire additional liability to the Profit and Loss Account, the net profit (after tax) for the quarter ended and from the period ended on December 31,2025 would have been lower by Rs 20959.39 lakhs and Rs 20959.39 lakhs respectively and thereby the MGB profit! loss before tax for the quarter ended, and for 8 months ended on December 31, 2025 would have been Rs (-)15413.71 Iakhs and Rs (-) 33993.42 lakhs respectively. U. As per the Government of India notification no. CG-DL-E-07042025-262329 da " 7th April 2025, Maharashtra Gramin Bank and Vidarbha Konkan Gramin Bank were y; . ' tid on 30.I . " 5, and new -. named Ma -rashtra Gramin Bank came i . -nw" om in : , .-nk") is an amalgamated e t-. om Maharashtra Gramin Ba\ and
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erstwhile Vidarbha Kokan Gramin Bank(e-VKGB). In preparation of these financial results, the Bank has followed the accounting policies predominantly being followed by e-MGB unless otherwise stated. Even though, Erstwhile VKGB bank got amalgamated and new entity came into existence effective May 01,2025, the IT systems of both the erstwhile Banks was merged on September 12, 2025 on day end and gone live on 15th September, 2025 start of the day. However, on review it has been noticed that some minor fields are not imported or properly placed in required fields without affecting financials. The process needs streamlining and accounting and rationalization of some of the heads in office accounts/deposit accounts/other accounts etc., is also being done. The management is in the process of carrying out data migration audit for ensuring full veracity of data and the migration process. Di. Inter Branch Reconciliation/internal office accounts: Reconciliation of Inter Branch transactions and internal/office accounts is under progress at different stages at the branches and/or Central Office Departments. Steps are being taken to eliminate the outstanding entries as at the earliest. In respect of e-VKGB, the detailed exercise of identifying the break-ups of office accounts and reconciliation of various heads is in progress, also issues identified in the IS audit of MGB are also under the process of being addressed. The necessary accounting adjustments if any required shall be carried out on the completion of such process. The Management however does not anticipate any material consequential effect of pending reconciliation and elimination of outstanding entries. iv. Suspense Heads: There are certain suspense heads operational at branches and at bank (MGB). These are appearing in Schedule 5 of the Balance Sheet (MGB's). Reconciliation of these entries are continuously on (T+1) day basis. v. MGB has initiated the process of capturing the data relating to enterprises which have been providing goods and services to the entities, falling within the purview of Micro, Small and Medium Enterprises Development Act, 2006, in the accounting system. Pending system augmentation, the disclosure in respect of the amount payable to such Micro, and Small Enterprises as of 31st December, 2025 has not been made in the financial statements. In view of the management, the impact of interest, if any, that may be payable in accordance with the provisions of the Act is not expected to be material. 19 Status of Investor Complaints received during the quarter ended 3l December 2025: Complaints un-resolved at the beginning of the quarter Received Resolved Unresolved at the end of the quarter Nil 1 1 Nil
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20 Disclosure on Project Finance: SI. No Item Description Number of accounts Total outstanding (in crore) 1 Projects under implementation accounts at the beginning of the quarter. 152 12444.33 2 Projects under implementation accounts sanctioned durinq the quarter. 55 1160.85 3 Projects under implementation accounts where DCCO has been achieved during the quarter 32 2023.95 4 Projects under implementation accounts at the end of the quarter. (1+2-3) 175 11581.23 5 Out of '4' accounts in respect of which resolution process involving extension in original / extended DCCO, as the case may be, has been invoked. - - 5.1 Out of '5' accounts in respect of which Resolution plan has been implemented. - - 5.2 Out of '5' accounts in respect of which Resolution plan is under implementation. - - 5.3 Out of '5' accounts in respect of which Resolution plan has failed. - - 6 Out of '5', accounts in respect of which resolution process involving extension in original / extended DCCO, as the case may be, has been invoked due to change in scope and size of the project. - - 7 Out of's', account in respect of which cost overrun associated with extension in original / extended DCCO, as the case may be, was funded. - - 7.1 Out of '7', accounts where SBCF was sanctioned during financial closure and renewed continuously. - - 7.2 Out of '7', accounts where SBCF was not pre-sanctioned or renewed continuous. - - 8 Out of '4' accounts in respect of which resolution process not involving extension in original / extended DCCO, as the case may be, has been invoked. - - 8.1 Out of '8' accounts in respect of which Resolution plan has been implemented. - - 8.2 Out of '8' accounts in respect of which Resolution plan is under implementation. - - 8.3 Out of '8' accounts in respect of which Resolution plan has failed. - - 21 Figures of the previous period have been regrouped I reclassified / rearranged, wherever necessary to confirm to the current period's classification.
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22 Summarized Balance Sheet: (tin Lakh) STANDALONE CONSOLIDATED LIABILITIES ASAT ASAT 31.12.2025 31.12.2024 31.03.2025 31.12.2025 31.12.2024 31.03.2025 Reviewed Reviewed Audited Reviewed Reviewed Audited Capital 769155 769155 769155 769155 769155 769155 Reserves & Surplus 2561842 1984299 2079771 2571436 2005247 2101642 Minority Interest - - - - - - Deposits 32166113 27900727 30714260 32163776 27898616 30712030 Borrowings 3035813 1516421 2385251 3035813 1516421 2385252 Other Liabilities & Provisions 789493 798943 965777 791024 800373 967301 TOTAL 39322416 32969545 36914214 39331204 32989612 36935380 ASSETS ::I0e5 with Reserve 1067833 1546639 3799299 1067833 1546639 3799300 and Money at 14242 2036 420187 14248 2040 420191 Investments 10299982 8054422 8200479 10308703 8074622 8221573 Advances 26952685 22496086 23608380 26952685 22496086 23608380 Fixed Assets 285794 237937 291559 285798 237941 291562 OtherAssets 701880 632425 594310 701937 632484 594374 TOTAL 39322416 32969545 36914214 39331204 32989812 36935380 Nitesh'Kumar Jam Keyur Talati Suñil Ohoot Asst. General Manager, FM&A Asst. General Manager, FM&A Chief Financial Officer pbh4Kiran Rohit Rishi Executive Director Executive Director Date: 13th January 2026 Place: Pune 1411A Nidhu Saxena Managing Director & CEO
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ae aiiq' tü'ç Lank of Maharaslitra 4RV1 i,t'R T5I 3O OW ufluie OW AXI/ISD/STEX12025-26 The Vice President BSE Ltd., P.J Towers, Dalal Street, Mumbai-400 001 The Vice President National Stock Exchange of India Ltd., Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai-400 051 BSE Scrip Code: 532525 NSE Scrip Code: MAHABANK Date: 13.01.2026 Dear Sir! Madam, Sub: Declaration regarding the Limited Review Report with Unmodified Opinion for the Unaudited Financial Results (Standalone and Consolidated) of the Bank for the quarter ended 31.12.2025 Pursuant to Regulation 33, 52 and 63 (2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby confirm that the Statutory Central Auditors of Bank have issued their Limited Review Report with an unmodified opinion for the unaudited Financial Results (Standalone and Consolidated) of the Bank for the quarter ended 3Vt December, 2025. We request you to kindly take the above information on your records. Thanking you, Yours faithfully, For Bank of Maharashtra (Sunil Dhoot) Chief Financial Officer BH cbiqlcv.1 / Head Office: "Lokmangal", 1501, Shivajinagar, Rune 411005 q'iqTc cpjcifiq / Corporate Office: 134/1, Mont Claire, Baner- Pashan Link Road, Pashan, Rune 411O21 t*t/TeI.: 020 71658139 ivf/ Email: investor servicesL'thbankofnlaharashtra.bank.in ac'Hi*c/ Website: ww.bankofrnaharashtra.bank.i Confidential
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acv ari i.iitç hank of Maharashtra iRfl aL '3 eaiu17uu eajrtw Statement of utilization of issue proceeds of listed non-convertible debt securities for the quarter ended 31.12.2025 (As per Regulation 52(7) of SEBI (LODR) Regulations, 2015) Name of the Issuer SIN Mode of Fund Raising (Public issues! Private placement) Type of instrument Date of raising funds Amount Raised Funds utilized Any deviation (Yes/ No) If Yes, then specify the purpose of for which the funds were utilized Remarks, if any NIL The issue proceeds of the non-convertible debt securities have fully been utilized and that there are no deviations in the use of the said proceeds from the objects stated in the Information Memorandum(s) / Disclosure Document(s). Name of Signatory: Sunil Dhoot Designation: Chief Financial Officer Date: 13.01.2026 Place: Pune Confidential
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act auitii 6ii'ç Bank of Maharaslitra 'nn %H't'I Zn cju uiiuiIau eai#uI Statement of Deviation or Variation in the use of the proceeds of equity shares raised through public issue, rights issue, preferential issue etc. (As per Regulation 32(1) of SEBI (LODR) Regulations, 2015) Name of listed entity Bank of Maharashtra Mode of Equity Fund Raising Not raised during the quarter Type of instrument Not applicable Date of Raising Funds Not applicable Amount Raised Nil Report filed for quarter ended 31.12.2025 Is there a Deviation / Variation in use of funds raised? Not applicable Whether any approval is required to vary the objects of the issue stated in the prospectus! offer document? Not applicable If yes, details of the approval so required? Not applicable Date of approval Not applicable Explanation for the Deviation / Variation Not applicable Comments of the audit committee after review Not applicable Comments of the auditors, if any Not applicable Objects for which funds have been raised and where there has been a deviation, in the following table: Original Object Modified Object, if any Original Allocation Modified allocation, if any Funds Utilised Amount of DeviationNariation forthe quarter according to applicable object (INR Crores and in %) Remarks, if any Not applicable Deviation could mean: (a) Deviation in the objects or purposes for which the funds have been raised (b) Deviation in the amount of funds actually utilized as against what was originally disclosed. Name of Signatory: Sunil 'hoot Designation: Chief Financial Officer Date: 13.01.2026 Place: Pune Confidential
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a aitii M5Idt Bank of Maharashtra tifl?f 1 (JbJ ffl 3fJ 0d1U04u &wdai Statement of Deviation or Variation in the use of the proceeds of issue of listed non- convertible debt securities (As per Regulation 52(7) of SEBI (LODR) Regulations, 2015) Name of listed entity Bank of Maharashtra Mode of Fund Raisins Not raised during the quarter Type of instrument Not Applicable Date of Raising Funds Not Applicable Amount Raised Nil Report filed for quarter ended 31.12.2025 Is there a Deviation / Variation in use of funds raised? Not applicable Whether any approval is required to vary the objects of the issue stated in the prospectusl offer document? Not applicable If yes, details of the approval so required? Not applicable Date of approval Not applicable Explanation for the Deviation I Variation Not applicable Comments of the audit committee after review Not applicable Comments of the auditors, if any Not applicable Objects for which funds have been raised and where there has been a deviation, in the following table: Not Applicable Original Object Modified Object, if any Original Allocation Modified allocation, if any Funds Utilised Amount of DeviationNariation for the quarter according to applicable object (INR Crores and in %) Remarks, if any Not applicable Deviation could mean: (a) Deviation in the objects or purposes for which the funds have been raised (b) Deviation in the amount of funds actually utilized as against what was originally disclosed. I Name of Signatory: SunTTh "ot Designation: Chief Financial Officer Date: 13.01.2026 Place: Pune Confidential
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S. Sing/ta! & 0;S To The Board of Directors Bank of Maharashtra Pune GORDHAN ENCLAVE, lind FLOOR. 4B, VUDHISTER MARG, C- SCHEME, JAJPUR-302005 PH. 0141-4913729 CERTIFICATE WITH REFERENCE TO SECURITY COVER IN RESPECT OF LISTED UNSECURED DEBT SECURITIES FOR THE QUARTER AND NINE MONTHS ENDED 31.12.2025. We have been requested by Bank of Maharashtra ("The Bank") vide its appointment letter AXI/FM&A/SCA App/Q3/2025-26 dated 3Qth December 2025 to verify and certify, compliance with respect to Security Cover in respect of listed unsecured debt securities as per regulation 54(2) read with regulation 56 (1) (d) of SEBI (LODR) Regulation, 2015 & as per circular SEBI/HO/MIRSD/CRADT/CIR/P/2020/230 dated 12th November, 2020 & SEBI/HO/MIRSD/MIRSD CRADT/CIR/P/2022/67 dated ]9th May, 2022. This certificate is required for the onward submission to stock exchanges and debenture trustee only. Management's Responsibilities The responsibility for compliance with regard to instructions contained in Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 published on 2nd September, 2015 & as per circular SEBI/HO/MIRSD/CRADT/CIR/P/2020/230 dated 12th November, 2020 & SEBI/HO/MIRSD/MIRSD/CRADT/CIR/P/2022/67 dated 191h May, 2022 is that of the management of the Bank. The Bank's responsibility is to put in place controls and suitable triggers to ensure that above regulations are adhered to. Auditor's Responsibility Our responsibility is to provide the reasonable assurance on Bank's compliance with respect to Security Cover in respect of listed debt securities as per regulation 54(2) read with regulation 56(1)(d) of SEBI (LODR) Regulation, 2015, as to the accuracy in the computation of Security Coverage Ratio in respect of listed debt securities. We conducted our independent review in accordance with the Guidance Note on Reports or Certificates for Special Purposes (Revised 2016) issued by the Institute of Chartered Accountants of India. The Guidance Note requires that we comply with the ethical requirements of the Code of Ethics issued by the Institute of Chartered Accountants of India. We have complied with the relevant applicable requirerhents of the Standard on Quality Control (SQC) 1, Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements. Restricted
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S. Singhal & C.. REVIEW PROCEDURES PERFORMED: GORDHAN ENCLAVE. lind FLOOR, 4B, VUDHISTER MARG, C- SCHEME, JAIPUR-302005 PH. : 0141-4913729 a) Traced the value of assets and liabilities forming part of Annexure I viz., security cover certificate from the Unaudited Financial Statements, underlying books of account and other relevant records and documents maintained by the Bank for the nine months ended 3}st December 2025. b) Verification of terms/covenants of the issue of the listed debt securities. c) Verification of compliance with SEBI Circular regarding Security Coverage Ratio. d) Obtained necessary representations from the management. OPINION Based on examination of unaudited books of accounts and other relevant records/documents, hereby certify that: a) The Bank of Maharashtra has vide its Board Resolution and information memorandum/ offer document and under various Debenture Trust Deeds, has issued the following listed debt securities: (Rs. In Crore) ISIN Private Placement! Public Issue Secured! Unsecured Sanctioned Amount Cover! Security Required lNE457A08183 Private Placement Unsecured 1612.00 NA 1NE457A08175 Private Placement Unsecured 811.00 NA INE457A08167 Private Placement Unsecured 1000.00 NA lNE457A08159 Private Placement Unsecured 259.00 NA 1NE457A08142 Private Placement Unsecured 515.00 NA 1NE457A08134 Private Placement Unsecured 880.00 NA lNE457A08126 Private Placement Unsecured 348.00 NA 1NE457A081 18 Private Placement Unsecured 710.00 NA 1NE457A08100 Private Placement Unsecured 290.00 NA 1NE457A08092 Private Placement Unsecured 1000.00 NA 1NE457A08084 Private Placement Unsecured 100.00 NA 1NE457A08076 Private Placement Unsecured 205.00 NA 1NE457A08068 Private Placement Unsecured 200.70 NA 1NE457A08035 Private Placement Unsecured 500.00 NA TOTAL 8430.70 b) Securities Cover for listed debt securities: Based on our examination and procedures performed by us, as referred above and according to the information & explanations given to us, we report that the data related to Security Cover as laid down in Annexure as at 31st December 2025 has been extracted accurately from the Books of account for the nine months ended 31 December 2025 pursuant to the requirements of Regulation 54 read under Reg 56(1)(d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the "SEBI Regulations") and Circular No. SEBI/HO/MIRSD/ MIRSD CRADT/ClR/P/2022/67 dated May 19, 2022. The Security cover certificate is being issued in consonance with SEBI regulations and shall have no effect on the seniority of such instruments and all other terms and conditions applicable for the issue of the bonds as specified by RBl Master Cjçjar no. Restricted
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£ Singh a! & Co. GOROHAN ENCLAVE, llnd FLOOR, 4B, VUDHISTER MARG, C- SCHEME, JAIPUR-302005 PH. : 0141-4913729 DBR.No.BP.BC.1/21.06.201/2015-16 dated July 1, 2015 for Basel II compliant bonds, as amended time, and the terms of issue. c) Compliance of all the covenants/terms of the issue in respect of listed debt securities information under Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 in terms of the provision of regulation 56(1)(d) as amended from time to time- Covenant Compliance Certificate as on 31.12.2025: We have examined the compliances made by the Bank in respect of the covenants / terms of the issue of the listed debt securities and certify that the covenants/terms of the issue have been complied by the Bank. Based on the examination of the unaudited books of accounts and other relevant records/documents, we hereby certify that: We certify that the Bank has complied with all the covenant/terms of the issue mentioned in the offer document/Information Memorandum and/or Debenture Trust Deed for the above mentioned Non-convertible debt securities. Further, please find below the list of the covenant which the Bank has failed to comply for the quarter. Covenant Document reference Date of breach NIL Cure period (if any) Restriction on use This certificate has been issued at the request of the Bank for onward submission to stock exchanges and debenture trustee only. It should not be used by any other person, without our consent. Accordingly, we do not accept or assume any liability or any duty of care or for any other purpose or to any other party to whom it is shown or into whose hands it may come without our prior consent in writing. Place: Pune Date: 13th January 2026 For M/s. $ singhal & Co Chartered Accountants ERN: - 001526C CA Mukesh K ar Kha delwal Partner M No. 074661 UDlN-26074661 ZCMXCB3492 Restricted
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uN siossy tI!MP000 s1ssv sn JO 1JPJ SS3JOJJ U1)fJOM wamdinba UB UBIJ S.LISSV
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Intangible Assets under Development Investments Loans Inventories Trade Receivable Cash and Cash Equivalents Bank Balances other than Cash and Cash Equivalents Others Total LIABILITIES Debt securities to which this certificate pertains Other debt sharing pan- passu charge with above debt not to be filled Other Debt Subordinated debt Borrowings Bank Debt Sec unties Others
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Trade payables Lease Liabilities Provisions Others Total NIL Coveton. ,Market H, :r____t_.__._ 4 ' - ...... j t J1rr.tti.i I I 4 j .. ' tç - I Exclusiv C Security Cover Ratio Part Passu Security Cover Ratio I -- ,-. '1'' -j"t - -I i This column shall include book value of assets having exclusive charge and outstanding book value of debifor which this certficate is issued. ii This column shall include book value of asseis having exclusive charge and outstanding book value of all corresponding debt other than column C. iii This column shall include debifar which this certficate is issued having any pan passu charge - Menlion Tes, else No. iv This column shall tnclude a) book value of assets having pari-passu charge b) outstanding book value of debt for which this certjflcate is issued and c). other debt sharing pan- passu charge along with debt for which certificate is issued. v This column shall include book value of all other assets having pan passu charge and outstanding book value of corresponding debt. vi This column shall include all those assets which are not charged and shall include all unsecured borrowings including subordinated debt and shall include only those assets which are paid for. In order to match the liability amount with financials. it is necessary to eliminate the debt which has been counted more than once (included under exclusive charge column as also under pan passu). On the assets side, there shall not be elimination as there is no overlap. Assets which are considered at Market Value like Land, Building, Residential/Commercial Real Estate to be stated at Market Value. Other assets having charge to be stated at book value/Carrying Value. ' The market value shall be calculated as per the total value of assets mentioned in Column 0.