Bank of Maharashtra (NSE:MAHABANK) Cyclically Adjusted PB Ratio: (As of Aug. 19, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

NSE:MAHABANK Bank of Maharashtra NSE:MAHABANK
61 GF Score
Price ₹79.82
GF Value ₹71.17
Valuation Modestly Overvalued
! 3 Warning Signs
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What is Bank of Maharashtra Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Bank of Maharashtra  (NSE:MAHABANK) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Bank of Maharashtra Cyclically Adjusted PB Ratio Related Terms


Bank of Maharashtra Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Bank of Maharashtra's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Bank of Maharashtra Cyclically Adjusted PB Ratio Chart

Bank of Maharashtra Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.94 0.78 1.23

Bank of Maharashtra Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 1.04 1.24 1.23 0.00

Bank of Maharashtra Cyclically Adjusted PB Ratio Competitor Comparison

For the Banks - Regional subindustry, Bank of Maharashtra's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Bank of Maharashtra Cyclically Adjusted PB Ratio vs Banks Industry

For the Banks industry and Financial Services sector, Bank of Maharashtra's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Bank of Maharashtra's Cyclically Adjusted PB Ratio falls into.


NSE:MAHABANK
61GF Score
Bank of Maharashtra NSE:MAHABANK
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Bank of Maharashtra Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Bank of Maharashtra's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Bank of Maharashtra's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=0/167.3573*167.3573
=0.000

Current CPI (Jun. 2026) = 167.3573.

Bank of Maharashtra Quarterly Data

Book Value per Share CPI Adj_Book
201212 0.000 83.774 0.000
201303 97.144 85.687 189.734
201403 88.306 91.425 161.648
201503 76.401 97.163 131.596
201603 75.836 102.518 123.799
201703 63.928 105.196 101.704
201803 38.742 109.786 59.058
201806 0.000 111.317 0.000
201809 0.000 115.142 0.000
201812 0.000 115.142 0.000
201903 21.368 118.202 30.254
201906 18.203 120.880 25.202
201909 18.416 123.175 25.022
201912 18.641 126.235 24.713
202003 18.731 124.705 25.137
202006 18.912 127.000 24.922
202009 18.272 130.118 23.501
202012 18.510 130.889 23.667
202103 18.762 131.771 23.829
202106 19.088 134.084 23.825
202109 19.612 135.847 24.161
202112 20.072 138.161 24.314
202203 20.893 138.822 25.188
202206 21.566 142.347 25.355
202209 22.360 144.661 25.868
202212 23.512 145.763 26.995
202303 23.461 146.865 26.735
202306 24.958 150.280 27.794
202309 26.257 151.492 29.007
202312 27.724 152.924 30.341
202403 28.060 153.035 30.686
202406 0.000 155.789 0.000
202409 32.325 157.882 34.265
202412 36.071 158.323 38.129
202503 37.324 157.552 39.647
202506 0.000 159.755 0.000
202509 40.814 162.289 42.089
202512 43.432 163.281 44.516
202603 43.196 164.272 44.007
202606 0.000 167.357 0.000

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Bank of Maharashtra (NSE:MAHABANK) Overvalued in 2026?

Based on GuruFocus' analysis, Bank of Maharashtra stock appears to be overvalued. The current stock price of ₹79.82 is trading 12.2% above its estimated GF Value™ of ₹71.17. GuruFocus considers Bank of Maharashtra to be Modestly Overvalued.

Key valuation signals for NSE:MAHABANK:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹71.17 vs. price of ₹79.82 (12.2% above fair value)
  • GF Score™: 61/100 with 3 warning signs

No single metric tells the full story. See the NSE:MAHABANK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Bank of Maharashtra Business Description

Other Exchanges 532525:India
Address Lokmangal, 1501, Shivaji Nagar, Pune, MH, IND, 411005
Bank of Maharashtra is an Indian banking corporation. The bank offers various deposit schemes, including savings accounts, current accounts, term deposits, and capital gain accounts. It also provides credit facilities such as term loans, overdrafts, letters of credit, and guarantees. The bank organizes its business in four segments, namely Treasury, Corporate/Wholesale banking; Retail banking; and Other banking operations. Its Treasury segment includes investment, balances with banks outside India, and interest accrued on investments; the corporate banking segment includes all advances to trusts, partnership firms, companies, and statutory bodies; retail banking includes exposure to individuals and small businesses. The bank principally generates revenue within India.
61GF Score

Get the complete analysis for NSE:MAHABANK

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₹79.82
Price
₹71.17
GF Value