Interim report
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, Bank of Maharashtra Investor Services Department Corporate Off ice: Montclaire, 134/I, Saner- Pashan Link Road, Pashan, Rune 411021 E-mail: investor services©bankofmaharashtrabank.in Phone no - 020-71658139 wwwbankotmaharashtrabanKin AXIIISDISTEXI79I2O26-27 Date: 26th Oct., 2026 The Vice President BSE Ltd., P.J Towers, Dalal Street, Fort, 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 Dear Sir! Madam, Sub: Outcome of Board Meeting of the Bank held on 26th Oct., 2026 Financial Results of the Bank for the quarter and half- year ended on 30 September, 2026 Ref: Our letter no. AX111501STEX17712026-27 dated 2Vt Oct., 2026 Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that Board of Directors of Bank at their meeting held on Monday, 26th October, 2026 intera/fa considered and approved the Unaudited (Reviewed) Financial Results (Standalone and Consolidated) of the Bank for the Quarter and Half-year ended 30.09.2026. 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: i) A copy of Unaudited (Reviewed) Financial Results (Standalone and Consolidated) of the Bank for the quarter and half-year ended on 30th September, 2026 along with Limited Review Report of Auditors thereon and declaration of Audit Report with unmodified opinion. U) Statement of utilisafion of issue proceeds and NIL Statement of Deviation/variation in utilization of issue proceeds for the quarter ended on 30th September, 2026. Ui) Security Cover Certificate as on 30th September, 2026. The meeting of Board of Directors of Bank commenced at 01.45 PM and the said agenda(s) concluded at 03.05 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 Thanking you Yours faithfully, For Bank of Maharashtra ffCTIt f4- 7I ,J (Vishal Sethia) - Company Secretary & Compliance Officer End : As above Restricted
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GD Apte & Co. Chartered Accountants, D-509, Neelkanth Business Park, Nathani Rd, Vidhya Vihar West, Mumbai - 400086. Sagar & Associates Chartered Accountants, H. No.6-3-244/S Saradadevi Street Premnagar, Hyderabad - 500004 Manubhai & Shah LLP Chartered Accountants, 4th Floor, Capital One, Opp. Ashok Vatika BRTS Stop, Ambli Bopal 'Road, Ahmedabad 380058 S. Singhal & Co. Chartered Accountants, S-4, Gordhan Enclave, 4B, Yudhister Marg, C-Scheme, Jaipur - 302005 Independent Auditors' Limited Review Report on Unaudited Standalone Financial Results of Bank of Maharashtra for the Quarter and Half year ended September 30, 2026 pursuant to the Regulation 33 & 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 half year ended September 30, 2026 ('the Statement'), being prepared and submitted by the Bank pursuant to the requirements of Regulation 33 & 52 read with Regulation 63(2) of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, as amended ("the SEBI Regulations") except for the disclosures relating to "Pillar 3 disclosure as at September 30, 2026 including Leverage Ratio, Liquidity Coverage Ratio and Net Stable Funding Ratio" under Basel III Capital Regulations 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. 2. This Statement, which is the responsibility of the Bank's Management and approved by the Bank's Board of Directors, has been prepared 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 (ICAI), 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 Entlty"ç 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 Page 1 of 3
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GD Apte & Co. Chartered Accountants Sagar & Associates Chartered Accountants Manubhai & Shah LLP Chartered Accountants S. Singhal & Co. Chartered Accountants 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. These Unaudited Standalone Financial Results incorporate the relevant returns of 20 domestic branches 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 including 1 International Banking Unit situated in Gujarat International Finance Tec-City specifically appointed for this purpose. These review reports cover 51.79 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 read 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, except for the disclosures relating to Pillar 3 disclosure as at September 30, 2026, or that it contains any material misstatement or that it has not been prepared in accordance with the relevant prudential norms issued by the Reserve Bank of India in respect of income recognition, asset classification, provisioning and other related matters. 6. Emphasis of Matter: We draw attention to note no. 13, which states that COVID 19 related contingency provisions amounting to Rs. 250 Crore have been reversed during the quarter ended September 30, 2026 and the bank continues to hold provisions amounting to Rs. 510 Crore as on September 30 2026. Our conclusion is not modified in respect of the above matter. Page 2 of 3
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GD Apte & Co. Chartered Accountants Sagar & Associates Chartered Accountants Manubhai & Shah LISP Chartered Accountants S. Singhal & Co. Chartered Accountants 7. The Statement includes comparative figures for the quarter and half year ended September 30, 2025, which were reviewed by an earlier set of four audit firms as joint auditors, two of those are continuing audit finns, and they have expressed unmodified conclusion vide their report dated October 14, 2025. Our conclusion is not modified in respect of the above matter. ForGDApte& For Manubhai & For Sagar and Co. Shah LLP Associates Co. Chartered Chartered Chartered Chartered Accountants Accountants Accountants Accountants FRN- 100515W FRN-106041W/ FRN-0035105 W100136 FRN - 001526C CACMDixit Partner CA Jignesh D. Shah M No 017532 Partner MNo 100116 CA Karthik Chowdary B K Partner M No 289051 UDIN: 260 17532ANMBKY3707 UDIN: 26 100 116VOUWUE22O3 Place: Pune Date: October 26, 2026 UDIN: 26289051LEERVD 1907 CARGGupta - Partner M No 0750481 UDIN: 26o75o48LocNTI49o8 Restricted Page 3 of 3
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GD Apte & Co. Chartered Accountants, D-509, Neelkanth Business Park, Nathani Rd, Vidhya Vihar West, Mumbai - 400086. Sagar & Associates Chartered Accountants, H. No.6-3-244/5 Saradadevi Street Premnagar, Hyderabad - 500004 Manubhai & Shah LLP Chartered Accountants, 4th Floor, Capital One, Opp. Ashok Vatika BRTS Stop, Ambli Bopa.l Road, Ahmedabad 380058 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 Half year ended September 30, 2026 pursuant to the ReguLation 33 and 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 Nine. 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial results of Bank of Maharashti-a ("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 after tax of its associate for the Quarter and Half year ended September 30, 2026 ('the Statement'), being submitted by the Bank pursuant to the requirements of Regulation 33 and 52 read with Regulation 63(2) of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 as amended, except for the disclosures relating to consolidated "Pillar 3 disclosure as at September 30, 2026 including Leverage Ratio, Liquidity Coverage Ratio and Net Stable Funding Ratio" under Basel III Capital Regulations 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. 2. The Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared 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 Page]. of 5
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GD Apte & Co. Chartered Accountants Sagar & Associates Chartered Accountants Manubhal & Shah LLP Chartered Accountants S. Singhal & Co. Chartered Accountants 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 Perfonned by the Independent Auditor of the Entitgf , 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 referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement read with notes thereon, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Accounting Standard, RBI Guidelines and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and 52 read with Regulation 63(2) of the SEBI (Listing Obligations and Page 2 of S
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GD Apte & Co. Chartered Accountants Sagar & Associates Chartered Accountants Manubhai & Shah LLP Chartered Accountants S. Singhal & Co. Chartered Accountants Disclosure Requirements) Regulations 2015, as amended, including the manner in which it is to be disclosed, except for the disclosures relating to the consolidated Pillar 3 disclosure as at September 30, 2026, including Leverage Ratio, Liquidity Coverage Ratio and Net Stable Funding Ratio" under Basel III Capital Regulations as 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, or that it contains any material misstatement or that it has not been prepared in accordance with the relevant prudential norms issued by the Reserve Bank of India in respect of income recognition, asset classification, provisioning and other related matters. 6. Emphasis of Matter: We draw attention to note no. 13, which states that COVID 19 related contingency provisions amounting to Rs. 250 Crore have been reversed during the quarter ended September 30, 2026 and the bank continues to hold provisions amounting to Rs. 510 Crore as on September 30 2026. Our conclusion on the Statement is not modified in respect of above matters. 7. We did not review the interim financial results of 43 branches including 1 International Banking Unit situated in Gujarat International Finance Tee-City included in the unaudited standalone financial results of the parent included in the Group whose results reflect total advances (asset) of Rs. 44194.34 Crore as at 30th September 2026 and total revenues of Rs. 1262.79 Crore and Rs. 1994.41 crore for the quarter ended September 30, 2026 and for period from April 1, 2026 to September 30, 2026, respectively as considered in the unaudited standalone interim financial results of the parent included in the Group. The interim financial results of these branches have been reviewed by the concurrent auditors whose reports have been furnished to us, and our conclusion in so far as it relates to the amounts and disclosures included in respect of these branches, is based solely on the report of such concurrent auditors and the procedures performed by us as stated in paragraph 3 above. Page 3 of 5
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GD Apte & Co. Chartered Accountants Sagar & Associates Chartered Accountants Manubhai & Shah LLP Chartered Accountants S. Singhal & Co. Chartered Accountants We did not review the interim financial result of a subsidiary included in the unaudited consolidated financial results, whose interim financial result reflects total assets of Rs. 30.12 Crore as at September 30, 2026 and total revenues of Rs. 0.49 Crore and Rs. 0.93 Crore and total net profit after tax of Rs. 0.38 Crore and Rs. 0.73 Crore for the quarter ended September 30, 2026 and for period from April 1, 2026 to September 30, 2026, respectively as considered in the unaudited consolidated financial results. The unaudited consolidated financial results also include Group's share of net profit/(loss) after tax of Rs. (173.48) Crore and Rs. (170.70) Crore for the quarter ended September 30, 2026 and for period from April 1, 2026 to September 30, 2026, respectively, as considered in the unaudited consolidated financial results, in respect of associate, whose interim financial result 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 this 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. Our conclusion on the Statement is not modified in respect of the above matters. S. The Unaudited Consolidated Financial Results includes the interim financial results of 2797 branches and other offices included in the unaudited standalone results of the parent included in the Group which have not been reviewed, whose interim financial results reflect total advances (asset) of Rs. 202963.96 Crore as at 30th September 2026 and total revenues of Rs. 3794.78 Crore and Rs. 7365.02 Crore for the quarter ended September 30, 2026 and for period from April 1, 2026 to September 30, 2026, respectively., as considered in the respective unaudited standalone financial results of the parent included in the Group. Page 4 of 5
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GD Apte & Co. Chartered Accountants Manubhai & Shah LLP Chartered Accountants Sagar & Associates Chartered Accountants S. Singhal & Co. Chartered Accountants Our conclusion on the Statement is not modified in respect of the above matter. 9. The Statement includes comparative figures of the Group for the quarter and half year ended September 30, 2025, 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 vide their report dated October 14, 2025. Our conclusion on the Statement is not modified in respect of the above matter. ForGDApte& For Manubhai & For Sagar and For S. Singhal & Co. Shah LLP Associates Co. Chartered Chartered Chartered Chartered Accountants Accountants Accountants Accountants FRN- 100515W FRN- 106041W/ W100136 FRN -0035 lOS FRN - 001526C Partner CA Jignesh D. Shah M No 017532 UDIN: 26017532EN1GDU1060 Partner M No 100116 UDIN: 26100116QDL0UY9341 Place: Pune Date: October 26, 2026 Restricted CA Karthi Chowdary B K Partner MNo 289051 UDIN: 2628905 1PPAJVHÔ7S3 CA R G Gupta Partner M No 075048 UDIN: 26075048NRDTQD7820 Page 5 of 5
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S Bank of Maharashtra \ CORPORATE OFFICE: MONTCLAIRE, BANER PASHAN LINK ROAD, PASHAN, PUNE-411021 UNAUDITED STANDALONE FINANCIAL RESULTS FOR QUARTER I HALF-YEAR ENDED 301H SEPTEMBER 2026 (t in Iakh) Particulars QUARTER ENDED HALF YEAR ENDED YEAR ENDED 30.09.2026 30.06.2026 30.09.2025 30.09.2026 30.09.2025 31.03.2026 UNAUDITED UNAUDITED AUDITED 1 Interest earned (a) + (b) + (c) + (d) 860637 803463 712838 1664100 1418229 2928164 (a) Interest! discount on advances / bills 682305 626636 545071 1308941 1085810 2249031 (b) Income on Investment 170382 172420 163382 342802 312653 651984 (c) Interest on balances with Reserve Bank of India and other inter bank funds 3617 3105 3232 6722 17571 21856 (d) Others 4333 1302 1153 5635 2195 5293 2 Other Income 112904 102866 84523 215770 167014 354089 A. TOTAL INCOME (1+2) 973541 906329 797361 1879870 1585243 3282253 3 Interest Expended 465214 426466 388081 891680 764300 1561758 4 Operatinq Expenses (e)+(f) 171460 168146 151855 339606 306524 637913 (e) Employees cost 91788 100701 82206 192489 170240 337577 (f) Other operating expenses 79672 67445 69649 147117 136284 300336 B. TOTAL EXPENDITURE (3)+(4) (excluding Provisions and Contingencies) 636674 594612 539936 1231286 1070824 2199671 C. OPERATING PROFIT (A-B) (Profit before Provisions and Contingencies) 336667 311717 257425 648584 514419 1082582 D. Provisions (other than tax) and Contingencies (Net) 65445 84041 75587 149486 162329 296845 Of which: Provisions for Non-performing Assets 12111 75476 58301 87587 130204 262612 E. Exceptional Items - - - - - - F. Net Profit! (Loss) before Tax (C-D-E) 271422 227676 181838 499098 352090 785737 G. Provision for taxes (Tax Expenses) 40463 25657 18524 66120 29500 83805 H Net Profit! (Loss) afterTax (F-G) 230959 202019 163314 432978 322590 701932 I. Extraordinary items (net of tax expense) - - - - - - J Net Profit! (Loss) for the period (H-I) 230959 202019 163314 432978 322590 701932 5 Paid-up equity share capital (F.V. of Rs. 10/- share) 769156 769156 769156 769156 769156 769156 6 Reserves excluding revaluation reserves (as per Balance Sheet of previous accounting year) 2359718 2359718 1890346 2359718 1890346 2359718 7 Ana ytical ratios (i) Percentage of shares held by Govt. of India 73.60 73.60 79.60 73.60 79.60 73.60 (ii) Capital Adequacy Ratio (Basel Ill) (in %) 18.51 18.64 18.13 18.51 18.13 18.36 (a) GET 1 Ratio 15.61 15.56 14.05 15.61 14.05 14.59 (b) Additional Tier 1 Ratio 0.76 0.79 0.91 0.76 0.91 0.82 (Hi) Earning per share (NotAnnualized) 3.00 2.63 2.12 5.63 4.19 9.13 (iv) NPA Ratios (a) Amount of gross non performing assets 411355 443428 437206 411355 437206 424597 (b) Amount of net non performing assets 39613 40494 44208 39613 44208 38374 (c) % of gross NPAs 1.25 1.45 1.72 1.25 1.72 1.45 (d) % of net NPAs 0.12 0.13 0.18 0.12 0.18 0.13 (v) Return on Assets (annualized) (%) 2.02 1.90 1.82 1.96 1.81 1.86 (vi) Paid up Debt Capital! Outstanding Debt (%) 11.50 15.50 24.10 11.50 24.10 17.05 (vh) Debt** Equity Ratio 0.86 072 0.60 0.86 0.60 0.70 (vHi) Total debts* to Total Assets (%) 10.22 9.09 6.67 10.22 6.67 8.24 (ix) Operating Margin (%) 34.60 34.39 32.28 34.50 32.45 32.98 (x) Net Profit Margin (%) 23.72 22.29 20.48 23.03 20.35 21.39 (xi) Net Worth 3424021 3278038 2893385 3424021 2893385 3027242 (xii) Capital/Debenture Redemption Reserve - - - - - - (xUi) Outstanding Redeemable Preference Shares - - - - - - 'lo al Debts & Outstanding Debt represents totat borrowings of the Bank. 'tebt represents borrowings with residuai maturity of more than one year. Note: Disciosure of interest service Coverage Ratio & Debt service coverage Ratio is not appticable to Bank.
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ct:; S a n I-c of N'l a I-i a ra s Fit ra Corporate Office: 134/I, Montolaire, Baner Pashars Link Road, Paslnain, Pune" 21 STAJIDALONE SEGMENT REPORTING SEPTEMBER 2026 (tin laRks) SN. PARTICULARS QUARTER ENDED HALF YEAR ENDED YEAR ENDED 30,092026 30.01.2026 30.09.2015 30.09.2026 30.09.2025 31.032026 (Unrniditsd) (Urnaudited) (Unsudited) (Unatadited) (Unaudited) (Aedlted) Segment Revenue a) Treasury Operations 171360 203706 100934 375074 364237 697946 b) Corporale / Wholesale Banking Operations 354333 3041937 265816 655270 526280 1108568 c) Retail Banking Operations 437470 395036 347083 832506 606335 1455299 '1) Oigtal Banking 38 32 22 70 43 100 2) Other Retail Banking 437432 395004 347061 832436 606292 1455199 d) Other Banking Operations 10370 6650 3528 17020 8391 20440 a) Unallocated B 0 0 0 B Total 973541 901329 791361 1579670 1555243 3282153 Less: Inter Segment Revenue . . 0 - Income from Operations 973541 906329 797361 1879870 1555243 3282253 2 Segment ReseNt I Profit! (Loss) before Tax I a) Treasury Operations 28034 54025 43287 62059 105799 149588 b) Corporate/Wholesale Banking Operations 104922 84273 61306 189195 124062 369385 c) Retail Banking Operations 130678 86045 67772 216723 117952 316414 '1) Dgtal Banking (42) (33) (43) (75) (72) (109) 2) Other Retail Banking 130720 86078 67815 216790 110024 316523 4) Other Banking Operations 7768 3)33 2473 11121 4277 10350 4 Unallocated 0 0 0 0 0 Total 271422 227676 181038 499098 352090 785737 Less: Other sin-a9ocable expendlare net off - - 0 Total Profit before Tax 271422 227676 181838 499098 352090 785737 Taxes incladirg Deferred Taxes 40463 25657 18524 66120 265(0 83805 Ertraordinary Profit I Loss - - 0 Net Profit after Tax 230959 202019 163314 432978 322590 701932 3 Segment Assets (SA) a) TreasuryOperahons 10315791 10266692 10077301 10315791 10077301 12075358 b) Corporate/Wholesale Banking 16214951 14699631 12102765 16214951 12102765 14184939 c) Retail Banking 16791566 15931433 13331524 16791586 13331524 15032071 *1) Oigtal Banking 2028 1746 1222 2029 1222 1504 2) Other Retail Banking 16789537 15929687 13330303 16789537 13330303 15030567 4) Otherbarking operations 3258724 1502765 1611986 3258724 1611986 1177439 e) Unallocated 271583 229796 249280 271583 249280 266466 Total assets 46452615 42630317 37372856 46852615 37372056 41736273 4 Segment Liabilities (SI) a) Treasury Operations 10125955 10096505 9609346 10125955 9899346 11879453 b) Corporate/Wholesale Basking 16212825 13898216 10916010 16212825 10926010 13005493 C) Retail Basking 16766885 14358103 12013334 16766885 12013334 13419191 '1) Digtal Banking 2748 2243 1452 2748 1452 1969 2) OtkerRetait Banking 16764137 14355950 12011882 16764137 12011882 13417222 d)Otherbankingoperafions 6608 719817 1373403 6608 1373483 1121355 n)Unallocaiod 0 0 0 0 0 Cap8al & Resernes &Sarpins 3740342 3557580 3160663 3740342 3160663 3310782 Total liabilities 46852615 42630317 37372855 46052615 37372856 42736273 5 Capital Employed )SA-SL) a) TreasuryOpera8ons 189836 170187 177955 189836 177955 195905 b) Corporate/Wholesale Barking Operations 2126 801415 1176755 2126 1178755 1179447 c) Retail Banking Operations 24681 1573240 1310186 24681 1310189 1612860 *1) Digtal Banking (497) 497) 230) 497) 230) (465) 2) Other Retail Banking 25178 1573737 1318410 25178 1318419 1613345 d) OlherBanking Operations 3252116 782948 238504 3252116 230504 56064 e) Unallocated 27158) 229796 249280 271583 249260 266466 Total 3746342 3557586 3160683 3140342 3160683 3310782 GEOGERAPHICAL SEGMENTS QUARTER ENDED HALF YEAR ENDED YEAR ENDED 30.092026 30.06.2026 30.09.2025 30.09.2026 30.09.2025 31.03.2026 (Unaudited) (Unaudiled) )Unaiadited) (Unauditsd) (Unaudted) (Aadlted) I Revenue a Domestic 951565 897260 796754 1846825 1584636 3270579 tnternatonal 21976 9069 607 31045 607 11674 Total 973541 906329 797361 1879870 1585243 3262253 2 Assets Domestic 44878524 41780238 37279988 44678524 37279988 42022460 International 1974091 850079 92866 1974091 92866 713793 Total 46852615 42630317 37372856 46852615 37372656 42736273 Note I Pronoun pox/sd figures tsavr beer rngrcmped / reclassified wherever necessary to make them comparable Maximum aggregated exposure I one counter past below Ru nfl Cr. has been considered as erelbltEeposura) 2 As per RBI guidelenes nerd in nmnplianoe with the xpplicabte Asxnting Standards, the Bask has classified rreassne Operators?. 'Retell Ba king eraf/ms, 'Wholexatr Banking Operalionx",and Other Banking Operalims' as prinra.ny baniness segmenls Oc.neutic and "Inlematsonal' as secenday/gecgrmphic xegnnenls far the purpose ofcompliaeron eith AS- I 7cm Segmenl Reporting issued by tCAl 3. In/sensation abotel Digital Banking Segmenl reported as a sab-segmeel 0/Retail Banking Segment is rota/edo Lhgital Basking Units c/the Banal.
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iM Bank of Maharashtra 4* - Statement of Standalone Cash Flow for the Half-Year Ended 30th September, 2026 ( in Lakhs) Particulars Half-Year Ended 30.09.2026 Half-Year Ended 30.09.2025 (Unaudlted) (Unaudited) A. Cash Flow From Operating Activities: .i';1 ' ' 'j (:. .et Income Interest received during the half-yearfrom advances, Investments etc. '54 .j'O4[' ''-k,., 14,18,229 Other Income Z T',tjit7 '1 ' ''""4 1,67,014 15,85,243 Less: Expenditure & Provisions k- -. - - --,:,,cY.. - Interest Paid during the year on Deposits and Borrowings r4Jk: a - - 7,64,300 Operating Expenses " ,: -----,,'- 3,06,524 Provisions & Contingencies %T.rll f ,' 1,91,829 12,62,653 &. ,'- -. --Net Increase In Cash due to Increase of Income over Expenses Ts:i -. ' ''' 3,22,590 *z H Add : Non Cash Items & Items Considered Separately z:-,: - .4 . - Provisions & Contingencies -7 j If - '. 't'-,. 1,91,829 Depreciation on Fixed Assets . . -;'-'i ' -' -' ' ". 17,242 Profit/Loss on sale of Fixed Assets 1 'u:)j - 't (126) Interest on Bonds, PCPS and IPDl ''--" l)icyj1 '-' 34,334 Increase! Decrease in reserve on account of fair valuation of Investments / Foreign currency translation reseive C " 'c7 ' - L ' (9 106) 2 34173 5,56,763 Less: Direct Taxes Paid (Net) r' F'--'-""- 47,500 Cash Profit Generated From Operations (I) 5,09,263 Increase ((Decrease) of Operating Liabilities: '_' :,itA1 4- - --a'" Deposits L1Y'F I 264818 Borrowings other than Bond Borrowings 'frlp:"-Y;'., 1,07,114 Other Liabilities & Provision (3,01,503) Total of Increase of Operating Liabilities ':"t'"1 ,,-4>-g 70,429 Less: Increase I (Decrease) of Operating Assets ' Investments 't" .-ic-ç 14,41,690 Advances PyJR' 1410438 Other Assets r49' ) (14,254) Total of Increase of Operating Assets ' 28,37,874 Net Increase Of Operating Liabilities Over Operating Assets (II) (27,67,445) Cash Flow From Operating Activities (A) = (1+11) dz '2ý (22,58,182) B. Cash Flow From Investing Activities twt g4,-c - Sale of Fixed Assets 2, 1,433 Purchase of Fixed Assets - -' (19,155) 4E' Net Cash Flow Form Investing Activities (B) N' (17,722) FC,' '. C. Cash Flow From Financing Activities: '4E t' " . -:t49.stL s,.. 'h,A-.- i) Redemption of Bonds t-:-.'. - ii) Issue of Foreign Currency Bonds si) Dividend Paid on Equity Shares iv) Interest on Bonds, PCPS and IPDI - £ (92,' -. (34--8) ' , S, - - (115 373) (34,334) v) Issue of Equity Shares! Share Application Money - - - t,: ' - Cash Flow From Financing Activities (C) ' '' " iQU4 (1,49,707) Total Cash Flow During The Year (A+B+C) - ',46i)'6j4o (24,25,612) Cash and Cash equivalents at the beginning of the year - -- ,- - -: - Cash & Balance with RBI - 2;4;53i 37,99,299 Balances with Banks & Money at Call & Short notice - ' - 'A,1Q024 4.20,187 -27ç74,555 42,19,486 Cash and Cash equivalents at the end of the half year - -,' - Cash & Balances with RBI , -. - - 2,18:497 17,27,639 Balance with banks & money at call & Short notice T' -2,I'97 66,235 - ' 17,93,874 Total Cash Flow During The Year , - - '6j6,139 (24,25,612) Note: Previous year figures have been regrouped and reciassjp6'itc,s ary. _P4 & F$Y S'\ c 47 ifMWt) ( *ii4o tt JLJ - '4:
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S Bank of Maharashtra CORPORATE OFFICE: MONTCLAIRE, BANER PASHAN LINK ROAD, PASHAN, PUNE-411021 4HH UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER! HALF-YEAR ENDED 30T1 SEPTEMBER 2026 (. in Iakh) Particulars QUARTER ENDED HALF YEAR ENDED YEAR ENDED 30.09.2026 30.06.2026 30.09.2025 30.09.2026 30.09.2025 31 .03.2026 (Unaudited) (Unaudited) (Audited) 1 Interest earned (a) + (b) + (c) + (d) 860639 803465 712836 1664104 1418234 2928174 (a) Interest / discount on advances / bills 682305 626636 545071 1308941 1085810 2249031 (b) Income on Investment 170385 172422 163380 342807 312658 651994 (c) Interest on balances with Reserve Bank of India and other inter bank funds 3617 3105 3232 6722 17571 21856 (d) Others 4332 1302 1153 5634 2195 5293 2 Other Income 112928 102888 84550 215816 167070 354198 A. TOTAL INCOME (1+2) 973567 906353 797386 1879920 1585304 3282372 3 Interest Expended 465173 426429 388040 891602 764231 1561615 4 Operating Expenses (e) + (f) 171476 168161 151872 339637 306559 637993 (e) Employees cost 91765 100682 82188 192447 170207 337519 (f) Other operating expenses 79711 67479 69684 147190 136352 300474 B. TOTAL EXPENDITURE (3)t(4) (excluding Provisions and Contingencies) 636649 594590 539912 1231239 1070790 2199608 C. OPERATING PROFIT (A-B) (Profit before Provisions and Contingencies) 336918 311763 257474 648681 514514 1082764 D. Provisions (other than tax) and Contingencies (Net) 65445 84041 75588 149486 162329 296845 Of which: Provisions for Non-performing Assets 12111 75476 58301 87587 130204 262612 E. Exceptional Items - - - - - - F. Net Profit/(Loss) before Tax (C-D-E) 271472 227722 181886 499195 352185 785919 C. Provision for taxes 40476 25668 18536 66144 29526 83856 H Net Profit / (Loss) after Tax (F-G) 230997 202054 163350 433051 322659 702064 I. Extraordinary items (net of tax expense) - - - - - - J Net Profit! (Loss) for the period (H-I) 230997 202054 163350 433051 322659 702064 K Share in profit of Associates (17348) 278 3511 (17070) (5361) (378) L Share of Minority Interest - - - - - - M Net Profit/Loss after Minority Interest (J+K-L) 213648 202332 166861 415981 317298 701686 5 Paid-up equity share capital (FV of Rs. loper share) 769156 769156 769156 769156 769156 769156 6 Reserves excluding revaluation reserves (as per Balance Sheet of previous accountinq year) 2371400 2371400 1912217 2371400 1912217 2371400 7 Analytical ratios (i) Percentage of shares held by Govt. of India 73.60 7360 79.60 73.60 79.60 73.60 (ii) Capital Adequacy Ratio (Basel Ill) (%) NA (a) CET 1 Ratio (b) Additional Tier 1 Ratio Qii) Earning per share (in Rs.) (Not Annualized) 2.78 2.63 2.17 5.41 4.13 9.12 (iv) NPA Ratios a)Amountof gross non performing assets 411355 443428 437206 411355 437206 424597 b) Amount of net non performing assets 39613 40494 44208 39613 44208 38374 c) % of gross NPAs 1.25 1.45 1.72 1.25 1.72 1.45 d) % of net NPAs 0.12 0.13 0.18 0.12 0.18 0.13 (v) Return on Assets (annualized) (%) 1.87 1.90 1.86 1.89 1.78 1.86 (vi) Operating Margin (%) 33.42 34.42 32.59 33.91 32.23 32.98 (vH) Net Profit Margin (%) 22.34 22.32 20.83 22.33 20.08 21.38 (viii) Consolidated Net Worth 3418701 3290029 2871955: 3418701 2871955 3038919
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a Zk ic o C 1%'t a a r a s Ix t .r a Corporate Office: 134)1, Montclalre, Baner Pertain Link Road. Parhan, Pure "21 CONSOLIDATED SEGMENT REPOR11NG SEPTEMBER 2026 (t Ira laUra) SN. PARTiCULARS QUARTER ENDED HALF YEAR ENDED YEAR ENDED 30092026 30.062026 30.09.2025 30.092026 30.092025 31.032026 (Unaudiled) (Unaudited) (unaudlted) (Unaudited) (Unaudited) (Audited) Segment Revenue a) Treasury Operators 171368 203706 100934 375074 364237 697946 hI Corporate/Wholesale Banking Operaliors 354333 300937 265016 655270 526260 1108568 a) Retail Banking Operatons 437470 395036 347083 832506 680335 1455299 1) Diglal Banking 38 32 22 70 43 100 2) Other Retail Banking 437432 395004 347061 832436 686292 1455199 d) Other Banking Operators (6952) 6952 7064 0 3091 20181 e) Unallocated 0 0 0 0 0 0 Total 956219 906631 300897 1862850 1579943 3231994 Lens: Inter 6egmerl Revenue 0 0 0 0 Incoonetron,Operatorn 996219 901631 300897 1812850 1579943 3231994 2 Segment Renulta [Profit) Loan) before Tax I a) Treasary Opera/cnn 28034 54025 43287 82059 105799 149588 b) Corporate / Wholesale Banking Operatons 104939 84289 66323 189228 124)92 309447 c) Retail Bankirg Operators 130703 86066 67795 216769 117991 316495 *1) Digital Barking (42) 33) 43) (75) (72) (109) 2) OftrerRetaloarkirg 130745 86099 67838 216843 118063 316604 dl OtherBankirg Operators (9551) 3620 5992 5931) (1058) 10011 e) Uaaiocated 0 6 0 0 0 TOUT 254124 228000 185397 432125 346824 785541 Less: Other rn-allocable espenditnre nel off 0 6 0 0 0 TOUT Profit beforeTax 254124 226000 185397 482125 346824 785541 Taxes including Deterred Taxes 40476 25660 18536 66144 29526 83855 Enbaordinary Pro)t / Loss 0 0 0 0 0 NetProfltafterTax 213648 202331 168881 415981 311298 701886 3 Segment Anre1a a)TreasuryOperatons 10315791 10266692 10077301 10315791 16077301 12075358 b) Corporate/Wholesale Banking 16214951 14699631 12102765 16214951 12102755 14184939 a) Retail Bankirg 16791566 15931433 13331524 16791566 13331524 15032071 '1) Digital Banking 2029 1746 1222 2029 1222 1504 2) Other Retail Banking 16789537 15929697 13330303 16799537 13330303 1503567 d) Other banking operators 3252547 1513914 1589812 3252547 1569812 1198305 e) Unallocated 271583 229796 249280 271583 249280 266486 Total assets 46846438 42641416 37350683 41846438 37350683 427471)9 4 Segment 8abi96e9 a) Treasury Operators 10125955 1(096505 9899346 10125955 9899346 11879453 b) Corporate/Wholesale Banking 16212825 13896216 10926010 16212825 10926(10 13005493 c) Retail Barking 16766885 14358193 12013335 16766985 12013335 13419191 1) Digital Banking 2748 2243 1452 2748 1452 1989 2) Other Retail Banking 16764137 14355950 12011883 16764137 12011983 13417222 d) Other banking operators 5747 71)982 1372730 5747 1372730 1120539 e)Unallocated 0 0 0 8 0 0 8) Cital & Reserves & Surplus 3735026 3569580 3139261 3735026 3139261 3322463 Total aabi8ties 46846438 42641476 37350183 46046439 37350683 42747139 5 Capital Employed (Segment Aaaeta" Segment Uabil"en) a) Treanary Operators 199836 170167 177955 189836 177955 195905 b) Corporate / Wholesale Banking Operators 2126 801415 1176755 2126 1176755 1179447 c) Retail Banking Operators 24681 1573240 1318189 24681 1316189 1612880 1) Digital Barking (497) 497) 230) (719) (230) (465) 2) OthrrRetail Barking 25178 1573737 1318419 25400 1318419 1613345 d) Other Bankirg Operators 3246800 794942 217082 3246860 217082 67765 e) Unallocated 271583 229796 249280 271563 249280 266468 Total 3735026 3569580 3139261 3735026 3139261 3322413 GEOGERAPHICALSEGMENTS QUARTER ENDED HALF YEAR ENDED YEAR ENDED 30.09.2026 30.01.2026 30.09.2025 30.09.2025 30.09.2025 31.03,2026 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (IJnaudfted) (Audited) 1 Revenne a Dorarextc 934243 897562 800290 1831805 1579336 3270320 International 21976 9069 607 31045 697 11674 ToUT 956219 906631 800997 1862850 1579943 3281994 2 Asaetr a Domestic 44872347 41791397 37257815 44872347 37257815 42033346 Internalonal 1974091 850079 92858 1974091 92868 713793 TOUT 46046438 42641476 37350683 46846438 37358683 42747139 Note 1. Pies/n sper/ra/ tguren hare been rngrcoped / reclass/fied wherever necessary to make them comparable Maximum aggregated exposure I ore counter part below I/s. 1.5 Cr. has been anna/dared ax ReTail Esporarr) 2 Ar per RBI gn/delnas and in ccenpliance wi/h the app/sabre Accnunsng Standards, the Bank has clans/ted Treasury Opera/stir. Retail Ba king Operation?. Wholesale Banking Operatnnn,anrd Other Bnnhrxg OperaTions as prlmaty bias/ness segments, "Donors/s and "rnternatonatxcxecnndaylgeograplric aegmeetn for the parpcnsr of compliance with AS- I? or Segmenr Repealing issued by S-Al. '5. rnrsrmatos beast DIg/at Bank/np SegmenT rrpnard ax a csb-/ggenl o(ReTant Banking Segment/s reratedto Dig/tar Barking Un/sn! The Bank
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Bank of Maharashtra Statement of Consolidated Cash Flow for the Half Year Ended 30th September, 2026 Particulars Half Year Ended 30.09.2025 I.'' (Unaudited) A. Cash Flow From Operating Activities: S'- -, - tscome Interest received during the year Thom advances, lnvestmentsetc. ,,, '1 ¼." ' ' , 14,18.234 Share of eaminqs/ loss in Associates Li' - i J ,' "'j,rs 'NI& (5,361) Other Income 1,67,070 15,79,943 Less: Expenditure & Provisions "< Interest Paid during the year on Deposits and Borrowings t....2jff'TJ4I .'t',att4'j 7,64.231 Operating Expenses ,i'-,,. ,sJ( IY"' 4qf ,4.>, 3,06,559 Provisions & Contingencies "'- T 'i ' 1,91655 12.62,645 Net Increase In Cash due to Increase of Income over Expenses 24.4' 'F" -- 3,17,298 ':'Z' k4' Add: Non Cash Items & Items Considered Separately ',&' Provisions & Contingencies '5rt'Q1 '- 191.855 Depreciation on Fixed Assets '&' 17,244 Profit/Loss on sale of Fixed Assets ;<. '' (126) Share of Earnings/Loss in associates ti, - 5,361 Interest on Bonds, PCPS and IPDI '' 34,334 (9 106) 239562 rfl'zWei r -. 556860 " , Less: DirectTaxes Paid (Net) d,.L',.!4L-q,ç , - ,.,,, 47500 Cash Profit Generated From Operations (I) '. 5,09.360 Increase! (Decrease) of Operating Liabilities: r :rpW'- r'1 4P' Deposits -i! , 2,64,718 Borrowings other than Bond Borrowings j-,j .S 1,07,113 Other Liabilities & Provision 'ç; -Wi' J-L44g; (3,01,473) Total of Increase of Operating Liabilities !. '74 " tç 5$' 70,358 Less: Increase! (Decrease) of Operating Assets '' 'i' i-,2j t,j&r'f Investments tP1. 14,36,329 Advances . I"' - . 6s.<- 1' 14,10,439 OtherAssets J ?t2,4Maa (14,232) Total of Increase of Operating Assets - ,., ' 75t:. 28.32,536 Net Increase Of Operating Liabilities Over Operating Assets (II) '',('t'a4c0) (27,62,178) /' 4', -- '. -':. ". Cash Flow From Operating Activities (A) (1+11) -' . ''''' ,, (22,52,818) '5, ' "'i "T'Q''tl" ,'S, B. Cash Flow From Investing Activities , - - , Ti _' .\v I Sale of Fixed Assets tFiØ) <3 1,433 Purchase of Fixed Assets ,, , ' (1! . t''' (19,158) Share of Earnings/Loss in associates -,. - , - (t'p7.0) ..' S ,, --' (5,361) Net Cash Flow Form Investing Activities (B) ("90) (23 086) C. Cash Flow From Financing Activities: . . .' , , '(54,000) - - , , , ' i) lssue/ (Redemption) of Bonds i) Issue of Foreign Currency Bonds ' . 4,79,127 , ' - ii) Dividend Paid on Equity Shares (92.299) , ' ' -- "- (1,15,373) iv) Interest on Bonds, PCPS and IPDI (34,824) , .. (34,334) v) Issue of Equity Shares /(Share Apilication Money) -, , ' , ' ,; - Cash Flow From Financing Activities (C) , 3,02,004 (1,49,707) Total Cash Flow During The Year (A+B+C) 6,78,143 (24.25,611) Cash and Cash equivalents at the beginning of the year Cash & Balance with RBI 26,64,53t 37,99,300 Balances with Banks & Money at Call & Short notice 1,10,029 4,20,191 27,14,580 42,19,491 Cash and Cash equivalents atthe end of the half year Cash & Balances with RBI 32,18,497 17,27,640 Balance with banks & money at call & Short not/ce 2,32,206 66,240 34,50703 17,93,880 Total Cash Flow Du The Year 6,7&143 (24,25,611) Note: Prey ou,plt been regrouped and 3 (IAHMAD ) (iHvD4MD)1 ( , I (Q/çjp0\ /%'t" -" - HAl '0t1AccO %/ aV't,
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NOTES FORMING PART OF STANDALONE AND CONSOLIDATED (REVIEWED) FINANCIAL RESULTS FOR QUARTER AND THE HALF YEAR ENDED 30TH SEPTEMBER 2026 1 The above Financial Results have been reviewed and recommended by the Audit Committee of the Board and approved by the Board of Directors in their respective meeting held on 26th October 2026. These results have been subject to "Limited Review" by the Statutory Central Auditors of the Bank as per requirement of SEBI (Listing Obligations and Disclosures Requirements) Regulation, 2015 (as amended). 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 CAl, and relevant provisions of the Banking Regulation Act,1949 and circulars, guidelines and directions issued by 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 and half year ended 30th September 2026 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, and fair valuation of investments, provision for exposure to entities with unhedged foreign currencies, 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 preparation of annual financial statements for the year ended 3Js1 March 2026 except for Investment Fluctuation Reserve (IFR). 5 In accordance with the RBI circular No. RBI/2026-27/83DOR.MRc3.RECNo71/10000 001/2026-27 dated 18.05.2026 regarding the Classitication, Valuation and Operations of Investment Portfolio (Second Amendment) Directions, 2026, the requirement to maintain the Investment Fluctuation Reserve (IFR) has been discontinued. Accordingly, the Bank has transferred the outstanding IFR balance of 1091.10 crorestothe Balance of Profit during the half year ended 30th September 2026. 6 Based on the available financial statements and the declarations from borrowers, the Bank has estimated the liability towards unhedged foreign currency exposure to their constituents in terms of RBI Circular no. RBl/DOR/2025-26/}57/DOR/CREREC 76/07-02- 001/2025-26 dated 281h November 2025 and holds a provision of 3.84 crores as on 3Q1h September 2026. 7 As per extant RBI guidelines, banks are required to make Pillar II 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 bank in/basel-iii-disclosure These disclosures have not been subjected to audit or review by the Statutory Central Auditors of the Bank. 8 During the half year ended 3Qth September 2026, the Bank has redeemed Basel III compliant Tier II bonds of 500.00 crores on maturity.
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9 During the Q2 of FY 2026-27, the Bank raised unsecured foreign currency bonds of USD 500 Million under Medium-Term Note (MTN) programme with maturity in September 2031 through Gift IBU. 10 Non-Performing Assets Provision Coverage ratio is 98.53% (including technicaily written off) as on 30th September 2026 (98.34% as on 30th September 2025). 11 During Q2 of FY 2026-27 (1st July 2026 to 3Qtb September 2026), the Bank has reported 63 fraud cases involving an aggregate amount of 308.19 crores. Against this, the Bank effected a recovery of 15.86 crores. Further, in one case, the account had already been settied in 2021 and the sacrifice ledger balance of 18.91 crores had written of earlier. Accordingly, the net loss to the Bank works out to 273.42 crores (Total amount involved 308.19 crores less recovery of 15.86 crores and previously written-off amount of 18.91 crores), bank is holding provision to the extent of loss i.e. 273.42 crores. There is no case related to digital payment frauds. Thus, Bank is holding 100% provision against the extent of loss to the Bank (i.e. Z 273.42 crores). 12 During the half year ended 30th September 2026, Reserve Bank of India has levied penalties of 0.02 crore on the bank. The same has been provided for as on 30th September 2026. 13 The Bank additionally holds COVID-19 related provision as contingency provision amounting to 510 crores as on 30th September 2026 (Quarter ended 30th June 2026, 760 crores and Previous Year ended 31st March 2026, 1010 crores, corresponding Quarter ended 30th September 2025 1200 crores). The management has reassessed this, not being in the nature of floating provision, and has decided fo reverse the same in calibrated manner in this financial year and accordingly during the quarter ended 3Qth September 2026, the Bank has reversed an amount of 250 crores out of total provision held amounting to 760 crores ( 250 crores during the quarter ended 3Qth June 2026 and 190 crores during year ended 3]st March 2026). 14 During the period ended 30.09.2026, an additional provision of 500 crores towards anticipated Expected Credit Loss (ECL) impact (Quarter ended 30th June 2026: NIL) has been created by the bank. 15 During the half year ended 30th September 2026, the Bank has done following PSLC transactions in e-Kuber portal of RBI: PSLC Category Amount sold Amount purchased Commission earned Commission paid PSLC- Agri NIL 3000 0.00 16.40 16 Impact of RBI Circular No RBI/DOR/2025-26/165 DOR.STR. REC. 84/21.04.048/2025-26 dated 28th November 2025 on resolution of stressed assets - Revised framework is as follows:
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in crores Amount of Loans impacted by RBl Circular (A) Amount of loans to be classified as NPA (B) Amount of Loans as on 30th September 2026, out of (B) classified as NPA (C) Addi. Provision required for loans covered under RBI circular. (D) Provision out of (D) already made by 3O" September 2026 498.20 - - - - 17 Details of resolution plan implemented under the RBI Resolution Framework for COVID- 19 related stressed assets as per RBI circular dated August 6, 2020 (Resolution Framework 1.0) and May 5, 2021 (Resolution Framework 2.0) as of 3Qth September 2026 are as under: ( in crores) Type of the Borrower Exposure to accounts classified as Standard consequent to implementatio n of resolution plan - Position as at the end of 315t March 2026 (A) Of (A), aggregate debt that slipped into NPA during the half- year 30th September 2026 Of (A) amount written off during the half-year 30th September 2026 Of (A) amount paid by the borrowers during the half-year 30th September 2026 Exposure to accounts classified as Standard consequent to implementatio n of resolution plan - Position as of 30"' September 2026 :nal 1032.66 31.20 18.59 104.76 975.65 Corporate Persons* 559.03 0.00 0.00 34.27 524.76 of which 19.14 0.00 0.00 0.70 18.44 Others 0.00 0.00 0.00 0.00 0.00 Total 1591.69 31.20 18.59 139.03 1500.41 *As defined in Section 3(7) of the Insolvency and Bankruptcy Code, 2016 18 Details of loan transferred! acquired during the half year ended 3Q1h September 2026 in terms of RBl's Master Direction on Transfer and distribution of Credit Risk issued vide circular No RBI,'DOR,'2025-26,'159 DOR.STR.REC.No.78/21 .04.048!2025-26 dated 28th November 2025, are given below: i. The Bank has not transferred or acquired Stressed loan. H. The Bank has not transferred non-performing assets (NPAs). Hi. Details of loans not in default acquired through assignment are given below: in crores SN Particulars During Q2 of FY 2026-27 During Hi of FY 2026-27 1 Whether Bank has transferred any stressed loan during the period? It yes, please provide details. No No 2 Details of Loans not in default acquired through assignment a) Aggregate Amount of Loan acquired during the period ended on 30.09.2026 3841.53 8499.87
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b) Weighted average residual maturity (in months) 25.23 20.02 c) Weighted average holding period by originator (in months) 5 88 5 46 d) Retention of beneficial economic interest by the originator 1 0 e) Tangible security coverage 51.29% 62.45% 3 Rating-wise distribution of rated loans NA, as exposure to single underlying borrowers in pool is less than 5 crores on which external rating in not required! mandatory. 4 Details of loans acquired during the year From SCBs, RRBs, Co-operative Banks, AIFIs, SFBs and NBFC5 including Housing Finance Companies (HFCs) i. Aggregate principal outstanding of loans acquired 3771.35 7334.99 U. Aggregate consideration paid 3841.53 8499.87 iii. Weighted average residual tenor of loans acquired 25.23 20.02 iv. The Bank has not acquired any stressed loan. v. Recovery Ratings assigned to Outstanding SRs by the credit rating agencies: Recovery Rating Band* Amount In crores RR1 - RR2 - RR3 - RR4 - RR5 - Rating Withdrawn - Unrated - Total - *Recovew rating is as assigned by various external agencies. 19 The Consolidated Financial Results are prepared in accordance with AS 21 on "Consolidated Financial Statements" and AS 23 on "Accounting for investment in Associates". 20 The Consolidated Financial Results of the group are comprised as under: - Bank of Maharashtra (Parent). The Maharashtra Executor and Trustee Company Private Limited (Subsidiary Company). Maharashtra Gramin Bank (Associate). 2] The current tax expenses and deferred tax expenses are determined in accordance with the provisions of the Income Tax Act, 2025 and as per the Accounting Standard 22- 'Accounting for Taxes on Income'.
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22 In accordance with provision under SEBI (LODR) Regulations, 2015 (as amended), for the purpose of consolidated financial results for quarter and half year ended 30th September 2026, minimum eighty percent of each of consolidated revenue, assets and profits have been subjected to "Limited Review". 23 Other income includes fee/charges/commission income, profit/ loss on sale of assets (net), profit/ loss on sale of investments, profit/loss on revaluation of investments (FVTPL & HFT), penal charges, earnings from foreign exchange and derivative transactions, income from sale of PSLC certificates, recoveries from accounts previously written off, dividend income etc. 24 Status of Investor Complaints received during the quarter ended 3Q1h September 2026: Complaints un-resolved at the beginning of the quarter Received Resolved Unresolved at the end of the quarter Nil 2 2 Nil 25 Disclosure on Project Finance: SI. No item Description Number of Accounts Total outstanding ( in crores) 10304.61 1 Projects under implementation accounts at the beginning of the quarter. 194 2 Projects under implementation accounts sanctioned durinq the quarter. 76 586 63 3 Projects under implementation accounts where DCCO has been achieved during the quarter 195648 4 Projects under implementation accounts at the end of the quarter. (1+2-3) 236 10861 77* 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. 29 1418.12 5.1 Out of '5'- accounts in respect of which Resolution plan has been implemented. 1 16297 5.2 Out of '5' - accounts in respect of which Resolution plan is under implementation. 28 1255 15 5.3 Out of '5' - accounts in respect of which Resolution plan has tailed. - - 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 ot the proiect. - - 7 Out of '5', 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. - -
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SI. No Item Description Number of Accounts Total outstanding ( in crores) 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. - - It incudes movement of 1927.01 crores during Q2 2026-27 in projects under implementation accounts existing at the beginning of the quarter. 26 The following tables set forth, for the periods indicated, necessary details of Co-Lending Arrangements (CLAs) on an aggregate basis as per Reserve Bank of India (Commercial Banks - Transfer and Distribution of Credit Risk) Directions, 2025. Sr No. Particulars During Q2 of FY 2026-27 During Hi of FY 2026-27 1 No. of CLA Partners 9 9 2 Quantum of CLA (!in crores) 2976.27 2976.27 3 Weiqhted Average ROI 9.39% 9.39% 4 Fees Paid (Exclusive of GST) ( in crores) 1.20 3.50 5 Fees Charged (Exclusive of GST) (! in crores) 0.03 0.03 6 Broad Sectors Retail and MSME Retail and MSME 7 Performance of Loans under CLA Satisfactory DLG is provided one partner, which is less than 5% Satisfactory DLG is provided one partner, which is less than 5% 8 Details of Default Loss Guarantee 27 Figures of the previous period have been regrouped I reclassified / rearranged, wherever necessary to conform to the current period's classification.
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28 Statement of Assets & Liabilities ( in takEn) CAPITAL & LIABILITIES STANDALONE CONSOLIDATED ASAT ASAT 30.09.2026 30.09.2025 31.03.2026 30.09.2026 30.09.2025 31.03.2026 Reviewed Reviewed Audited Reviewed Reviewed Audited Capitol 769156 769156 769156 769156 769156 769156 Reserves&Surplus 2971186 2391527 2541626 2965870 2370105 2553308 Minority Interest - - - - - - Deposits 37640736 30979079 35056437 37637995 30976748 35053824 Borrowings 4788955 2492365 3523358 4788955 2492365 3523358 Other Liabilities & Provisions 682582 740729 845696 684462 742309 847493 TOTAL 46852615 37372856 42736273 46846438 37350683 42747139 ASSETS 3218497 1727640 2664531 3218497 1727640 2664531 Balances with Banks and Money at Call & Short Notice 232197 66235 110024 232206 66240 110029 Investments 9948321 9642169 10148017 9942024 9619901 10158790 Advances 32564106 25018818 28810430 32564106 25018818 28810430 Fixed Assets 295954 290437 296177 295958 290442 296179 Other Assets 593540 627557 707094 593647 627642 707180 TOTAL 46852615 37372856 42736273 46846438 37350683 42747139 Nites marJain eyurlalati Asst. General Manager, Asst. General Manager, FM&A FM&A Sushanta ttiar Mohanty " . ha Kiran Executive Director Date: 26th October 2026 Place: Pune xecutive 'irector Sunil Dhoot Chief Financial Officer NidhO Saxena Managing Director & CEO
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Bank of Maharashtra Investor Services Department Corporate Office: Montclaire, 134/1, Saner- Pashan Link Poad. Pashar. Puns- 411021 E-mait investor services©bankofmaherashtra bankin Phone no - 020-71658139 vMtwbankofmaharashtrabankir, AXI/ISD/STEXI2O26-27 The Vice President BSE Ltd., P.J Towers, Dalal Street, Fort, 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: 26th Oct., 2026 Dear Sin 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 and Half year ended 30.09.2026 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 and Half-year ended 3O" September, 2026. We request you to kindly take the above information on your records. Thanking you, Yours faithfully, For Ban of Maharashtra (Sunil Dhoot) Chief Financial Officer
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2w Bank of Maharashtra Investor Services Department Corporate Office: Montclaire, 134/1, Baner- Peahen tink Peed. Peahen, Pune- 411021 E-mail: investor servicesibankofmeherashtre bankin Phone no - 020-71658139 v.wwbenkotmaherashtra.benk.in Statement of utilization of issue proceeds of listed non-convertible debt securities for the quarter ended 30.09.2026 (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, f 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 Dhbdt Designation: Chief Financial Officer Date: 26.10.2026 Place: Pune ,pk0 confidential
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Bank of Maharashtra Investor Services Department Corporate Office: Montclaire, 134/1, Baner- Pashan Link Road, Pashan,Pune-411021 E-mail: investor servicesrbankofmeharashtrabank.in Phone no - 020-71658139 'mvw.bankofmaharashtrabarikin 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 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 30.09.2026 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: 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. Name of Signatory: Sunil DtIoot Designation: Chief Financial Officer Date: 26.10.2026 Place: Pune confidential
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2w Bank of Maharashtra Investor Services Department Corporate Office: Montclaire, 134/1, Baner- Pashan Link Poad, Peshan, Pune- 411021 E-mail: investor services©bankofmaharashtra.bankin Phone no - 020-71658139 vnwtbankofrneharashtre.benk.in 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 30.09.2026 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 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 Deviation/Variation forthe quarter according to applicable object (lNR 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. fD1toof Name of Signatory: Sunil hoot Designation: Chief Financial Officer Date: 26.10.2026 Place: Pune confidential
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S. Sing/ia! & fl. "Miss- \ GORDI-IAN ENCLAVE, find FLOOR, 4B, YLJDHISTER MARG, C- SCHEME, JAIPUR-302005 PH. 0141-4913729 Independent Auditors Certificate To The Board of Directors & Debenture Trustees Bank of Maharashtra Pune CERTIFICATE ON SECURITY COVERAGE AND COMPLIANCE OF FINANCIAL COVENANTS IN RESPECT OF LISTED UNSECURED NON-CONVERTIBLE DEBT SECURITIES OF BANK OF MAHARASHTRA FOR THE QUARTER/HALF YEAR ENDED 30.09.2026. We have been requested by Bank of Maharashtra ("The Bank") vide its appointment letter AX1/FM&A/SCA App/Q2/2026-27 dated ]9th October 2026 to verify and certify, compliance with respect to Security Cover in respect of listed unsecured non-convertible debt securities as per SEBI circular SEBI/HO/DDHS-PoD-1 /P/CIR/2025/1 17 dated 13th August 2025 This certificate is required for the onward submission to stock exchanges and debenture trustee only. Management's Responsibilities The implementation and usage of fund received, creating security cover and being compliant of the covenants of the debt borrowings in line with agreed terms with the lender and preparation, accuracy and completeness of the details mentioned in the Annexure I is the responsibility of the Management of the Bank including the preparation and maintenance of all accounting records and other relevant supporting documents. This responsibility includes designing, implementing and maintaining internal control relevant to the preparation and presentation of the details given in the Annexure I and applying an appropriate basis of preparation; and making estimates that are reasonable in the circumstances. The Management is also responsible for ensuring that the Bank complies with the related requirements of the Securities Exchange Board of India (SEBI) and Reserve Bank of India (RBI) as applicable in this regard. 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 audit 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 requirements 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.
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S. Singlial & 0".. a GORDI-LAN ENCLAVE, llnd FLOOR. 4B, VUDHISTER MARG, C- SCHEME, JAJPLJR-302005 PH. : 0141-4913729 AUDIT PROCEDURES PERFORMED: a) Traced the value of assets and liabilities forming part of Annexure 1 viz., security cover certificate from the audited Financial Statements, underlying books of account and other relevant records and documents maintained by the Bank for the quarter/half year ended 30th September 2026. 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 audited 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 1NE457A08183 Private Placement Unsecured 1612.00 NA lNE457A08175 Private Placement Unsecured 811.00 NA 1NE457A08167 Private Placement Unsecured 1000.00 NA INE457A08159 Private Placement Unsecured 259.00 NA INE457A08142 Private Placement Unsecured 515.00 NA 1NE457A08134 Private Placement Unsecured 880.00 NA 1NE457A08126 Private Placement Unsecured 348.00 NA 1NE457A081 18 Private Placement Unsecured 710.00 NA 1NE457A08100 Private Placement Unsecured 290.00 NA lNE457A08092 Private Placement Unsecured 1000.00 NA 1NE457A08084 Private Placement Unsecured 100.00 NA 1NE457A08076 Private Placement Unsecured 205.00 NA lNE457A08068 Private Placement Unsecured 200.70 NA TOTAL 7930.70 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 30th September 2026 hcis been extracted accurately from the Books of account for the half year ended 30th September 2026 pursuant to the SEBI circular SEBI/HO/DDHS-PoD-1 /P/CIR/2025/1 17 dated 13th August 2025
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£Sing/*ul&Ca, SS.. IF: GORDHAN ENCLAVE, llnd FLOOR, 4B, VUDHISTER MARG, C- SCHEME, JAJPUR-302005 PH. : 0141-4913729 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 30.09.2026: 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 audited 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. For M/s. $ Singhal & Co Chartered Accountants FRN: - 1526C CA R.G Gupta Partner M No. 075048 U DIN - 26075048VEKMFY5829 Place: Pune Date: 26th October 2026
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uN t([' cr1 1'7 } I TI yThr Fsn' I r7jflI nim crttilC,ts, I r I IJ .±----" j 1)ThFn') i'jr' - LTt,4 ±-Srft I '5pIi$'f' I b. rI : -,-r- LiTifl1%L 111 jlyryr IiTiTvum±. £ I niio; ICIII -: SaSSy oqtu1fluI iBAP00O siassy asfl JO J!)J juawdinb3 1UJ sassy
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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 pm! to he filled Other Debt Subordinated debt Borrowings Bank Debt Securities Others
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Trade payahles Lease Liabilities Provisions Others Total NIL "T; r ,Coyer6n1J :ç <r I --J j' H - . ..,. _______________ 'f-F. .;' . $ . . .. - I - .'' --- -1 '' Exclusiv e Security Cover Ratio Pan Passu Security Cover Ratio a-- . This column shall include book vahie of assets having exclusive charge and outstanding book value of debt foi which this certificate s issued. ii This column shall include book value of assets having exclusive charge and outstanding book value of all corresponding debt other han column C. iii This column shall include dehtfor which this certificate is issued having any pan passu charge - Mention Yes, else No. iv This column shall include a) hook value of assets having pari-passu charge I,) outstanding book value of debt for which this certificate is issued and cj other debt sharing pan- passu charge along with debt/or which certificate is issued. v This column shall include book value of all other assets having paripassu 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. 'vj,7 order to match the liability amount with financials, it is uecessary to eliminate the debt which has been counted more than once (included under exclusive charge colummi as also under pan passuj On the assets side, there shall not be elimination as there is no overlap. "1Acets which are considered at Market Value like Land, Building. Residential/ om,nercial Real Estate to be stated at Market Value. Other assets having charge to he stated at book value/Cammying Value. The market value shall he calculated as per the total value of assets n,entioned in Column 0.