Bank Of Baroda

•

bankofbaroda.inBSE: 532134NSE: BANKBARODA

Market Cap₹ 1,22,975 Cr.

Current Price

High / Low₹ 326 / 234

Stock P/E7.3

Book Value₹ 300

Price to Book0.84

Dividend Yield3.57 %

ROCE11.9 %

ROE13.8 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Other Retail Banking-Retail Banking: 41.8% • Corporate/Wholesale Banking: 34.7% • Treasury: 23.1%

AI Sector View

AI GENERATED

Financial Services

Buy

Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.

Confidence

84%

View full sector analysis →

PROS

Company has delivered good profit growth of 89.1% CAGR over last 5 years
Comfortable capital adequacy - CAR of 15.8%
Asset quality is healthy - gross NPA of just 1.9%
Strong provisioning - provision coverage ratio of 93.3%
Healthy loan book growth of 16.5% with stable asset quality

CONS

A large part of profit comes from other income (62.8% of PBT)
Recent results are weak - TTM profit is down 13.8% versus prior year
Operating margins have contracted to 25.4% from 30.0%
Thin net interest margin of 2.4%
Growth is decelerating - 3Y profit CAGR (12.4%) trails the 5Y trend (89.1%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Financial ServicesBankBank - Public

Part ofNIFTY BANK NIFTY NEXT 50 NIFTY DIV OPPS 50 NIFTYLARGEMIDCAP250 NIFTY100 EQL WGT

S.No.	Name
1.	SBIN	997.00	10.68	920292.57	1.74	24579.04	13.65	136240.49	8.36	12.16	52.34
2.	UNIONBANK	178.00	6.58	135878.18	2.81	5368.17	29.77	27427.10	1.21	14.57	69.42
3.	PNB	116.65	6.07	134065.18	2.57	5339.15	191.40	33589.17	3.12	13.26	75.40
4.	BANKBARODA	237.80	6.77	122974.99	3.57	1572.59	-53.08	35114.52	6.84	11.20	33.10
5.	INDIANB	852.90	8.99	114882.56	2.14	3299.48	48.73	18095.14	11.11	16.28	67.14
6.	CANBK	123.90	5.66	112385.37	3.39	4864.08	61.96	32957.16	4.55	14.46	68.47
7.	MAHABANK	84.17	8.59	64739.82	2.61	2020.54	26.83	8034.65	13.90	16.53	68.61
8.	IOB	33.13	10.71	63797.08	0.00	1659.24	49.25	8777.57	18.82	11.31	54.56
9.	BANKINDIA	139.80	5.40	63646.30	3.33	3138.46	77.92	20096.90	8.83	10.97	73.18
10.	UCOBANK	23.98	12.18	30069.86	1.83	652.43	24.09	6744.59	15.10	11.00	54.71
11.	CENTRALBK	30.75	6.10	27833.06	3.90	1328.95	5.43	9725.90	12.79	8.27	67.83
12.	PSB	22.78	11.68	16163.74	1.71	331.51	23.16	3213.37	10.40	9.07	71.38

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	26,556	27,862	28,605	29,583	29,629	30,278	31,277	31,117	31,091	31,511	31,750	32,642	33,211
Interest Expended	15,559	17,031	17,504	17,791	18,029	18,641	19,491	19,622	19,657	19,557	19,949	20,148	20,686
Net Interest Income	10,997	10,831	11,101	11,793	11,600	11,637	11,786	11,494	11,435	11,954	11,800	12,494	12,525
	3,322	4,171	2,810	4,191	2,487	5,166	3,400	4,735	4,675	3,515	3,600	3,967	3,470
Total Income	0	0	0	0	35,801	39,455	37,732	39,896	38,404	38,434	39,999	39,988	36,681
Operating Expenses	6,495	6,982	6,897	7,878	6,926	7,326	7,522	8,097	7,873	7,893	8,024	7,391	7,868
Operating Profit	7,824	8,020	7,015	8,106	7,161	9,477	7,664	8,132	8,236	7,576	7,377	9,069	8,127
Provisions & Contingencies	1,947	2,161	666	1,302	1,011	2,336	1,082	1,552	1,967	1,232	799	3,150	643
Profit before Tax	5,878	5,859	6,349	6,804	6,151	7,141	6,582	6,581	6,270	6,343	6,578	5,919	1,804
Tax %	30.75%	27.41%	27.87%	28.18%	27.52%	26.65%	26.51%	23.29%	27.56%	24.18%	23.16%	5.12%	29.14%
Net Profit	4,070	4,253	4,579	4,886	4,458	5,238	4,837	5,048	4,541	4,809	5,055	5,616	1,278
EPS	8	8	9	9	9	10	9	10	9	9	10	11	0

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	0	0	0	0	0	0	0	1,12,606	1,22,301	1,26,994	—
Interest Expended	28,687	28,127	31,290	48,532	41,686	37,259	48,233	67,884	75,783	79,311	80,340
Net Interest Income	-28,687	-28,127	-31,290	-48,532	-41,686	-37,259	-48,233	44,722	46,518	47,682	—
	6,758	6,657	6,294	10,317	12,934	11,484	10,026	14,495	15,788	15,757	14,553
Total Income	0	0	0	0	0	0	0	1,27,101	1,38,089	1,42,750	1,55,102
	0	0	0	0	0	0	0	28,252	29,871	31,180	—
Operating Profit	-28,687	-28,127	-31,290	-48,532	-41,686	-37,259	-48,233	30,965	32,435	32,259	—
	8,813	14,779	12,437	20,589	15,185	12,669	6,686	6,076	5,980	7,149	—
Profit before Tax	2,473	-2,791	698	-1,802	5,556	9,386	19,727	24,890	26,454	25,110	20,645
Tax %	0.00%	-0.00%	0.00%	-0.00%	0.00%	0.00%	0.00%	28.53%	25.98%	20.27%	18.83%
Net Profit	1,383	-2,432	434	546	829	7,272	14,110	17,789	19,581	20,021	16,758
EPS	6	-11	1	1	2	14	27	34	38	39	—

COMPOUNDED SALES GROWTH

10 Years:: 11%
5 Years:: 12%
3 Years:: 12%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 89%
3 Years:: 12%

STOCK PRICE CAGR

10 Years:: 4%
5 Years:: 25%
3 Years:: 6%
1 Year:: 0%

RETURN ON EQUITY

10 Years:: 7%
5 Years:: 14%
3 Years:: 15%
Last Year:: 14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	461	529	529	924	1,034	1,034	1,034	1,034	1,034	1,034
	39,841	42,864	45,411	70,931	76,010	84,874	97,187	1,11,188	1,35,890	1,52,173
	6,01,675	5,91,315	6,38,690	9,45,984	9,66,997	10,45,939	12,03,688	13,35,136	14,72,035	16,48,487
	30,611	62,572	67,201	93,069	66,848	1,03,899	1,01,910	94,402	1,23,716	1,56,357
Other Liabilities & Provisions	22,286	22,718	24,113	47,006	44,474	42,252	54,740	44,035	48,571	51,110
Total Liabilities	6,94,875	7,20,000	7,80,987	11,57,916	11,55,365	12,78,000	14,58,562	159	178	201
ASSETS	-	-	-	-	-	-	-	-	-	-
	22,780	22,700	26,662	32,646	38,841	71,184	54,883	54,840	56,068	62,155
Balances with Banks & Money at Call	1,27,690	70,198	62,568	89,255	81,572	51,471	40,821	40,284	69,781	91,926
	1,29,631	1,63,185	1,82,298	2,74,615	2,61,220	3,15,795	3,62,485	3,69,817	3,85,398	3,86,415
	3,83,259	4,27,432	4,68,819	6,90,121	7,06,301	7,77,155	9,40,998	10,65,782	12,09,558	14,09,094
	5,758	5,367	6,990	8,889	8,016	9,922	8,707	7,913	12,376	11,879
	25,757	31,119	33,651	62,390	59,415	52,472	50,668	47,162	48,066	47,694
Total Assets	6,94,875	7,20,000	7,80,987	11,57,916	11,55,365	12,78,000	14,58,562	159	178	201

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	17,194	-61,088	-4,120	930	-4,609	7,529	-19,747	-5,457	28,020	30,975
Cash from Investing	-426	-563	-3,957	141	-269	-3,967	-1,563	-574	-855	-685
Cash from Financing	-198	4,079	4,409	14,590	3,390	-1,319	-5,642	5,452	3,560	-2,059
	16,570	-57,573	-3,668	15,660	-1,488	2,242	-26,952	-579	30,725	28,232

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	6.00	-9.19	1.64	1.18	1.60	14.06	27.28	34.40	37.86	38.72
Book Value (₹)	159.39	152.10	156.59	142.35	148.98	166.12	189.93	217.01	264.77	296.26
Dividend per Share (₹)	1.20	0.00	0.00	0.00	0.00	2.85	5.50	7.60	8.35	8.50
PROFITABILITY
Net Interest Margin %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.92%	2.70%	2.45%
ROA %	0.20%	-0.34%	0.06%	0.06%	0.07%	0.60%	1.03%	1.17%	1.16%	1.06%
ROE %	3.80%	-6.32%	1.06%	1.02%	1.16%	8.93%	15.33%	16.91%	15.72%	13.80%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	47.71%	47.94%	49.15%
ASSET QUALITY
Gross NPA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.28%
Net NPA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.60%
Provision Coverage %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	93.29%	93.94%
Slippage Ratio %	—	—	—	—	—	—	—	—	—	—
BALANCE SHEET & LIQUIDITY
CASA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	38.53%	37.82%	37.20%
Credit-Deposit Ratio %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.07%	0.08%	0.09%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	16.31%	17.19%	15.82%
GROWTH & VALUATION
Net Profit Growth %	125.63%	-275.82%	117.83%	25.99%	51.77%	777.28%	94.02%	26.08%	10.08%	2.25%
Book Value Growth %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	14.25%	22.01%	11.89%
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	7.68x	6.03x	6.39x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.22x	0.86x	0.84x
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.88%	3.66%	3.44%

Shareholding Pattern

Numbers in percentages

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	63.97	63.97	63.97	63.97	63.97	63.97	63.97	63.97
	9.87	8.90	8.98	8.08	8.71	9.84	9.69	10.14
	16.35	17.86	17.97	18.79	18.93	18.72	18.92	18.33
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	9.56	9.00	8.83	8.89	8.31	7.37	7.33	7.46

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10

General Updates

2026-09-10 - Bank Of Baroda has informed the Exchange about MCLR w.e.f 12th September 2026

2026-09-09

Resignation of Director/KMP/SMP

2026-09-09 - Bank Of Baroda has informed the Exchange about Resignation of Director/KMP/SMP

2026-09-09

Resignation of Director/KMP/SMP

2026-09-09 - Bank Of Baroda has informed the Exchange about Resignation of Director/KMP/SMP

2026-09-09

Change in Management

2026-09-09 - Bank Of Baroda has informed the Exchange about change in Management

2026-09-08

General Updates

2026-09-08 - Bank Of Baroda has informed the Exchange about Disclosure under Regulation 30

2026-09-02

General Updates

2026-09-02 - Bank Of Baroda has informed the Exchange about Notice of Strike

2026-09-02

General Updates

2026-09-02 - Bank Of Baroda has informed the Exchange about Investor Conference - Outcome

2026-08-31

Resignation of Director/KMP/SMP

2026-08-31 - Bank Of Baroda has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-31

Change in Management

2026-08-31 - Bank Of Baroda has informed the Exchange about change in Management

News

Recent coverage and analyst commentary for BANKBARODA

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Free 5nance Account

Name

SBIN

997.00

10.68

920292.57

1.74

24579.04

13.65

136240.49

8.36

12.16

52.34

UNIONBANK

178.00

6.58

135878.18

2.81

5368.17

29.77

27427.10

1.21

14.57

69.42

PNB

116.65

6.07

134065.18

2.57

5339.15

191.40

33589.17

3.12

13.26

75.40

BANKBARODA

237.80

6.77

122974.99

3.57

1572.59

-53.08

35114.52

6.84

11.20

33.10

INDIANB

852.90

8.99

114882.56

2.14

3299.48

48.73

18095.14

11.11

16.28

67.14

CANBK

123.90

5.66

112385.37

3.39

4864.08

61.96

32957.16

4.55

14.46

68.47

MAHABANK

84.17

8.59

64739.82

2.61

2020.54

26.83

8034.65

13.90

16.53

68.61

IOB

33.13

10.71

63797.08

0.00

1659.24

49.25

8777.57

18.82

11.31

54.56

BANKINDIA

139.80

5.40

63646.30

3.33

3138.46

77.92

20096.90

8.83

10.97

73.18

UCOBANK

23.98

12.18

30069.86

1.83

652.43

24.09

6744.59

15.10

11.00

54.71

CENTRALBK

30.75

6.10

27833.06

3.90

1328.95

5.43

9725.90

12.79

8.27

67.83

PSB

22.78

11.68

16163.74

1.71

331.51

23.16

3213.37

10.40

9.07

71.38

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

26,556

27,862

28,605

29,583

29,629

30,278

31,277

31,117

31,091

31,511

31,750

32,642

33,211

Interest Expended

15,559

17,031

17,504

17,791

18,029

18,641

19,491

19,622

19,657

19,557

19,949

20,148

20,686

Net Interest Income

10,997

10,831

11,101

11,793

11,600

11,637

11,786

11,494

11,435

11,954

11,800

12,494

12,525

3,322

4,171

2,810

4,191

2,487

5,166

3,400

4,735

4,675

3,515

3,600

3,967

3,470

Total Income

35,801

39,455

37,732

39,896

38,404

38,434

39,999

39,988

36,681

Operating Expenses

6,495

6,982

6,897

7,878

6,926

7,326

7,522

8,097

7,873

7,893

8,024

7,391

7,868

Operating Profit

7,824

8,020

7,015

8,106

7,161

9,477

7,664

8,132

8,236

7,576

7,377

9,069

8,127

Provisions & Contingencies

1,947

2,161

666

1,302

1,011

2,336

1,082

1,552

1,967

1,232

799

3,150

643

Profit before Tax

5,878

5,859

6,349

6,804

6,151

7,141

6,582

6,581

6,270

6,343

6,578

5,919

1,804

Tax %

30.75%

27.41%

27.87%

28.18%

27.52%

26.65%

26.51%

23.29%

27.56%

24.18%

23.16%

5.12%

29.14%

Net Profit

4,070

4,253

4,579

4,886

4,458

5,238

4,837

5,048

4,541

4,809

5,055

5,616

1,278

EPS

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

1,12,606

1,22,301

1,26,994

—

Interest Expended

28,687

28,127

31,290

48,532

41,686

37,259

48,233

67,884

75,783

79,311

80,340

Net Interest Income

-28,687

-28,127

-31,290

-48,532

-41,686

-37,259

-48,233

44,722

46,518

47,682

—

6,758

6,657

6,294

10,317

12,934

11,484

10,026

14,495

15,788

15,757

14,553

Total Income

1,27,101

1,38,089

1,42,750

1,55,102

28,252

29,871

31,180

—

Operating Profit

-28,687

-28,127

-31,290

-48,532

-41,686

-37,259

-48,233

30,965

32,435

32,259

—

8,813

14,779

12,437

20,589

15,185

12,669

6,686

6,076

5,980

7,149

—

Profit before Tax

2,473

-2,791

698

-1,802

5,556

9,386

19,727

24,890

26,454

25,110

20,645

Tax %

0.00%

-0.00%

0.00%

-0.00%

0.00%

28.53%

25.98%

20.27%

18.83%

Net Profit

1,383

-2,432

434

546

829

7,272

14,110

17,789

19,581

20,021

16,758

EPS

-11

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

LIABILITIES

Equity Capital

461

529

924

1,034

39,841

42,864

45,411

70,931

76,010

84,874

97,187

1,11,188

1,35,890

1,52,173

6,01,675

5,91,315

6,38,690

9,45,984

9,66,997

10,45,939

12,03,688

13,35,136

14,72,035

16,48,487

30,611

62,572

67,201

93,069

66,848

1,03,899

1,01,910

94,402

1,23,716

1,56,357

Other Liabilities & Provisions

22,286

22,718

24,113

47,006

44,474

42,252

54,740

44,035

48,571

51,110

Total Liabilities

6,94,875

7,20,000

7,80,987

11,57,916

11,55,365

12,78,000

14,58,562

159

178

201

ASSETS

22,780

22,700

26,662

32,646

38,841

71,184

54,883

54,840

56,068

62,155

Balances with Banks & Money at Call

1,27,690

70,198

62,568

89,255

81,572

51,471

40,821

40,284

69,781

91,926

1,29,631

1,63,185

1,82,298

2,74,615

2,61,220

3,15,795

3,62,485

3,69,817

3,85,398

3,86,415

3,83,259

4,27,432

4,68,819

6,90,121

7,06,301

7,77,155

9,40,998

10,65,782

12,09,558

14,09,094

5,758

5,367

6,990

8,889

8,016

9,922

8,707

7,913

12,376

11,879

25,757

31,119

33,651

62,390

59,415

52,472

50,668

47,162

48,066

47,694

Total Assets

6,94,875

7,20,000

7,80,987

11,57,916

11,55,365

12,78,000

14,58,562

159

178

201

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

17,194

-61,088

-4,120

930

-4,609

7,529

-19,747

-5,457

28,020

30,975

Cash from Investing

-426

-563

-3,957

141

-269

-3,967

-1,563

-574

-855

-685

Cash from Financing

-198

4,079

4,409

14,590

3,390

-1,319

-5,642

5,452

3,560

-2,059

16,570

-57,573

-3,668

15,660

-1,488

2,242

-26,952

-579

30,725

28,232

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

PER SHARE

EPS (₹)

6.00

-9.19

1.64

1.18

1.60

14.06

27.28

34.40

37.86

38.72

Book Value (₹)

159.39

152.10

156.59

142.35

148.98

166.12

189.93

217.01

264.77

296.26

Dividend per Share (₹)

1.20

0.00

2.85

5.50

7.60

8.35

8.50

PROFITABILITY

Net Interest Margin %

0.00%

2.92%

2.70%

2.45%

ROA %

0.20%

-0.34%

0.06%

0.07%

0.60%

1.03%

1.17%

1.16%

1.06%

ROE %

3.80%

-6.32%

1.06%

1.02%

1.16%

8.93%

15.33%

16.91%

15.72%

13.80%

0.00%

47.71%

47.94%

49.15%

ASSET QUALITY

Gross NPA %

0.00%

2.28%

Net NPA %

0.00%

0.60%

Provision Coverage %

0.00%

93.29%

93.94%

Slippage Ratio %

—

BALANCE SHEET & LIQUIDITY

CASA %

0.00%

38.53%

37.82%

37.20%

Credit-Deposit Ratio %

0.00%

0.07%

0.08%

0.09%

0.00%

16.31%

17.19%

15.82%

GROWTH & VALUATION

Net Profit Growth %

125.63%

-275.82%

117.83%

25.99%

51.77%

777.28%

94.02%

26.08%

10.08%

2.25%

Book Value Growth %

0.00%

14.25%

22.01%

11.89%

P/E (x)

0.00x

7.68x

6.03x

6.39x

P/B (x)

0.00x

1.22x

0.86x

0.84x

0.00%

2.88%

3.66%

3.44%

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

63.97

9.87

8.90

8.98

8.08

8.71

9.84

9.69

10.14

16.35

17.86

17.97

18.79

18.93

18.72

18.92

18.33

Government

0.00

9.56

9.00

8.83

8.89

8.31

7.37

7.33

7.46

Bank Of Baroda

AI Sector View

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Bank Of Baroda

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Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

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Cash Flows

Ratios

Shareholding Pattern

Documents

News

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