Analysts/Institutional Investor Meet/Con. Call Updates

Investor Services Department Corporate Office: Montclaire, 134/1, Baner- Pashan Link Road, Pashan, Pune 411021 E-mail: investor_services@bankofmaharashtra.bank.in Phone no - 020-71658139 www.bankofmaharashtra.bank.in AX1/ISD/STEX/45/2026-27 Date: 16th July, 2026 The Vice President The Vice President BSE Ltd., National Stock Exchange of India Ltd., P.J Towers, Exchange Plaza, Dalal Street, Fort, Bandra Kurla Complex, Mumbai-400 001 Bandra (East), Mumbai-400 051 BSE Scrip Code: 532525 NSE Scrip Code: MAHABANK Dear Sir/ Madam, Sub: Transcript of Earnings Conference Call with Investors / Analysts held on 10th July, 2026. Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the transcript of conference call with Investors/ Analysts regarding Financial Results of the Bank for the quarter ended 30.06.2026 held on Friday, 10th July, 2026. The transcript of conference call is uploaded on Bank’s website and same can be accessed through below link: https://bankofmaharashtra.bank.in/financial-results Kindly take the same on your records. Thanking you Yours faithfully, For Bank of Maharashtra (Vishal Sethia) Company Secretary & Compliance Officer Encl : As above Restricted “Q1 FY 2026-27 Earnings Conference Call” July 10, 2026 MANAGEMENT: MR. NIDHU SAXENA – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER EXECUTIVE DIRECTORS, CHIEF GENERAL MANAGERS & GENERAL MANAGERS OF THE BANK Restricted Page 1 of 20 Bank of Maharashtra July 10, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Bank of Maharashtra Limited Q1 FY '27 Earnings Conference Call, hosted by Nuvama Wealth. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star and then zero on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Raj Jha from Nuvama Wealth. Thank you. And over to you, sir. Moderator: Thank you, Sagar. Good evening, everyone. Thank you all for joining Bank of Maharashtra's Q1 FY '27 Post Results Conference Call. From the management team, we have Mr. Nidhu Saxena, Managing Director and CEO; Mr. Prabhat Kiran, Executive Director; and Mr. Sushanta Kumar Mohanty, Executive Director. We, at the Nuvama Wealth team are grateful to the bank for giving us the opportunity to host this conference call. Without further delay, I would now like to hand over the call to Mr. Nidhu Saxena for his opening remarks. Post that, we will open the floor for the Q&A session. Over to you, sir. Nidhu Saxena: Thank you. And at the outset, I extend a warm welcome to all the investors for joining this investor call. June 2026, Q1 of this FY, has yet another good quarter of business growth for the bank, wherein we have seen no major challenges around our asset quality, which is getting maintained at the same good healthy levels. The stress in the loan book also is being well managed. There has been improvement around that. Our efficiency ratios, profitability ratios also have -- is showing signs of consistency, and we continue to consistently maintain our performance over now past several quarters. Coming to specific numbers. We had, in my last interaction, shared the guidance number on around 15, 16 parameters. I'm happy to share that all the guidance around the growth parameters, the profitability parameters, asset quality parameters, profitability, efficiency parameters. We are maintaining a performance in this Q1, which is above the guidance numbers. Specifically speaking, total business, which was guidance of 16% to 17%. We have grown year-on-year by 19%, INR1,04,000 crores of business is added in the past one year. Total advances against 18%, we have grown at Y-o-Y 27%, INR65,000 crores of advances have been added. Total deposits also 14% against 14% guidance, we are 13%. The CASA within which have also grown year-on-year by 9% by -- in percentage terms and INR14,000 crores in amount terms. The RAM book versus corporate book, the ratio has been maintained at 63:37. Our individually, our Retail has grown at 25%, Agri at 30% MSME at 23%, and corporate book also has a healthy 30% growth year-on-year. Gross NPA is maintained at the March level 1.45% against our guidance of maintaining it below 2%. NNPA likewise, against our guidance of maintaining less than 0.25% is maintained at Restricted Page 2 of 20 Bank of Maharashtra July 10, 2026 0.13%. PCR stands at a healthy 98.55%. Recovery performance in the Q1 also has been reasonably good. INR709 crores of recovery happened within which cash is INR490 crores odd, and upgrades are INR208 crores. Recovery from the write-off book has been INR305 crores in the Q1. Our stress percentage also has come down in the overall loan book to 3.18%, which is 140 bps improvement year-on-year in the stress percentage. In terms of amount wise also, the stress number has come down in absolute terms by INR1,300 crores. The leaving SMA 0, SMA 1 plus SMA 2 that book also has registered improvement of 5 basis points. It is now at 1.34% year-on-year. Coming to the profitability. Operating profit has shown a healthy growth of 21% year-on-year with adding INR547 crores, our OP is INR3,117 crores. Net profit for the Q1 is INR2,020 crores, which is a year-on-year increase of 27%. The NIM stands at 3.85%. It has been a reduction of 10 bps, but we are healthy 10 bps above our guidance number of 3.75%, which again, I would say, is a decent number to maintain at this level. ROA at 1.9% is, again, an improvement of 10 bps year-on-year. Likewise, ROE has improved 165 bps year-on-year and stands at 24.65%. The cost of funds and cost of deposits both have seen improvement by way of reduction by 25 bps and 22 bps, respectively. Our credit cost has also come down by 20 basis points and has remained within our guidance of maintaining credit cost below 1%. CET1 capital adequacy, 15.56%, CRAR at 18.64% qualifies us to be well-capitalized, adequately capitalized bank. I think these are the high-level information that I will share. I would like to take questions from investors and then we would like to also keep adding some more inputs around the overall decent performance in the bank in the Q1. Moderator: Should we open the floor for questions now, sir? Nidhu Saxena: Yes, please. Moderator: Thank you very much sir. Your first question comes from the line of Priyank Chheda with Vallum Capital. Please go ahead. Priyank Chheda: Hi, this is a Priyank Chheda from Vallum Capital. What a fantastic start to FY '27, Nidhu, sir! First question, our NII growth, which is net interest income growth has lagged our total advances growth of 27% versus NII growth of 14.5%. And I understand as well as reconciled that PPOP growth, which is operating profit growth has been 21%, which is again higher, but still lagging the loan growth, which only means that NIMs have a bit compressed. And yet, they are higher than what you have guided? So just would like to understand, would you want us to only focus on operating profit growth along with the higher -- way higher loan growth, which is with the system level growth, which is also expanding and improving. So just guide us on how NII growth with loan growth would pan out for the full year or Q1, anything to call out as one-off? Nidhu Saxena: So while if you look at the... Restricted Page 3 of 20 Bank of Maharashtra July 10, 2026 Moderator: Sorry for that, sir. Nidhu Saxena: Yes, so I'll be audible to the investors, right? Am I audible? Moderator: Yes, sir, you are. Nidhu Saxena: Okay. There was a -- I think, recorded message, which played. Anyway. Coming to the question, if you see the NII guidance, which was given as 15% and the NIM guidance, you rightly observed at 3.75%. What we have done in Q1, it is we have maintained both the nu [Showing first 8,000 characters — download PDF for full document]