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Bank of Baroda

BANKBARODA NSE

Key Fundamentals

LargecapPublic Sector BankBanks
Market Cap
1.3L Cr
Volatility
Moderate
P/E Ratio
7.14
EBITDA
₹26,908 Cr
Return on Equity
11.64%
Debt to Equity
0
Book Value
₹325.83
EPS
₹36.82
52W High
₹325.5
52W Low
₹230.81

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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62 extracted metrics + investor summaries across FY15–FY26.

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Tapetide Score

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Technical Indicators

Key Insights

Strengths

3
  • Stock is trading at 0.77 times its book value
  • Stock is providing a good dividend yield of 3.39%.
  • Company has been maintaining a healthy dividend payout of 21.3%

Weaknesses

3
  • Company has low interest coverage ratio.
  • Contingent liabilities of Rs.8,63,069 Cr.
  • Company might be capitalizing the interest cost

Growth Rate

Revenue Growth
2.58% ↘
Net Income Growth
-4.80% ↗
Cash Flow Change
-4.20% ↘
ROE
-15.96% ↗
ROCE
-10.72% ↗
EBITDA Margin (Avg.)
-1.22% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 16h ago
AI opinion · based on fundamentals
Risk medium

Bank of Baroda trades at a market cap of Rs.1,28,772 Cr with a PE of 7x and PB of 0.77x, reflecting a valuation below book value. The bank has delivered 13% ROE over the last year with a 3-year compounded sales growth of 13%, while carrying contingent liabilities of Rs.8,63,069 Cr.

Bull Case 8
  • Stock trades at 0.77x book value, offering a significant discount to its net asset base
  • PE ratio of 7x is well below the broader market average, indicating undemanding earnings valuation
  • Dividend yield of 3.39% is attractive relative to most large-cap peers, supported by a 21.3% payout ratio
  • Compounded profit growth of 73% CAGR over 5 years reflects a strong earnings recovery cycle
  • 3-year ROE of 15% and 5-year ROE of 14% demonstrate sustained improvement in return on equity
  • Compounded sales growth of 13% over both 3-year and 5-year periods indicates consistent top-line expansion
  • TTM profit growth of 14% shows continued earnings momentum in the most recent period
  • 5-year stock CAGR of 25% indicates the market has recognized the bank's turnaround over the medium term
Bear Case 8
  • Contingent liabilities of Rs.8,63,069 Cr are nearly 6.7x the market cap, posing a material tail risk if even a fraction crystallizes
  • Low interest coverage ratio suggests vulnerability to margin compression or rising credit costs
  • Last year ROE declined to 13% from the 3-year average of 15%, indicating potential moderation in return profile
  • TTM sales growth has slowed to 5% versus 13% over 3 and 5 years, signaling decelerating revenue momentum
  • 10-year ROE averages only 10%, reflecting the bank's historical struggles with asset quality and profitability
  • Possible capitalization of interest costs may overstate reported asset values and understate true expenses
  • 10-year stock CAGR of just 5% shows that long-term shareholders have seen minimal wealth creation despite recent recovery
  • 1-year stock CAGR of only 4% suggests recent price stagnation despite continued profit growth of 14% TTM

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 1d ago
Headwinds 2
  • $600M NMC settlement hits profit Jul 30

    Q1FY27 net profit fell 71.8% YoY to ₹1,278 crore due to a one-off USD 600 million NMC Group litigation settlement, masking underlying growth.

  • Cyber-security incident disclosed Jul 27

    Bank of Baroda reported a possible Business Email Compromise cyber-security incident with no financial impact disclosed yet, but regulatory scrutiny expected.

Positives 4
  • Normalized profit up 21.7% Jul 30

    Excluding the NMC settlement, Q1FY27 normalized profit grew 21.7% to ₹5,528 crore driven by 9.5% NII growth and GNPA improving to 1.99%.

  • ₹6,000 crore bond issuance approved Aug 7

    CRC approved AT1/Tier II bond issuance of up to ₹6,000 crore in tranches through March 31, 2027, strengthening capital buffers.

  • Subsidiary stake sale to BNP Paribas Jul 24

    IndiaFirst Life Insurance transferring 25.96% stake to BNP Paribas Cardif via share purchase agreement, subject to regulatory approvals.

  • Foreign currency fundraise planned Jul 17

    Board to consider raising foreign currency funds via bonds and loans, diversifying funding sources beyond domestic markets.

Neutral 5
  • New CTO Rakesh Nema appointed Aug 5

    Rakesh Nema appointed as CGM & Chief Technology Officer at BCC Mumbai with over 25 years of banking experience.

  • Senior management reshuffled Jul 22

    Multiple CGM appointments (Shailendra H, Ashwini Kumar) and new Group CCO Ritesh Kumar (18 years experience) effective July-August 2026.

  • GCO retirement and succession Aug 1

    Elango Balasubramaniam retired as Group Chief Compliance Officer on July 31, 2026; Ritesh Kumar took over effective August 1.

  • Emkay investor conference attendance Aug 6

    Bank of Baroda representatives to attend Emkay Global's flagship conference on August 12, 2026, for in-person investor meeting.

  • Q1FY27 analyst meet recording shared Jul 24

    Audio and video recording of Media and Analyst Meet for Q1FY27 results made publicly accessible per SEBI LODR regulations.

TL;DR: Bank of Baroda's underlying business is performing well with 21.7% normalized profit growth and improving asset quality (GNPA at 1.99%), but the headline Q1FY27 numbers were severely distorted by the $600M NMC one-off settlement. Capital raising plans (₹6,000 crore bonds, foreign currency funds) and the BNP Paribas stake sale signal proactive balance sheet management. The key risk is whether any further legacy litigation surfaces, but with management reaffirming full-year guidance the trend appears constructive once the one-off is absorbed.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
28,003
29,263
30,042
31,072
31,143
31,902
32,570
32,820
32,866
33,318
33,600
34,514
35,115
Expenses
11,040
12,216
10,556
12,269
10,879
12,755
10,654
12,712
12,928
11,548
12,390
13,155
12,130
Financing Profit
902
-480
1,484
494
1,682
-119
1,772
-165
-368
1,579
624
582
1,684
Fin. Margin %
3%
-2%
5%
2%
5%
0%
5%
0%
-1%
5%
2%
2%
5%
Other Income
5,316
6,503
5,042
6,538
4,658
7,553
5,163
7,076
5,538
5,116
6,399
5,474
522
Interest
16,060
17,528
18,002
18,309
18,582
19,266
20,143
20,273
20,307
20,191
20,586
20,776
21,301
Depreciation
0
0
0
0
0
0
0
0
0
0
0
0
0
PBT
6,217
6,023
6,526
7,033
6,340
7,434
6,935
6,911
5,170
6,695
7,024
6,057
2,206
Tax %
31%
28%
27%
29%
28%
27%
26%
23%
35%
24%
23%
7%
29%
Net Profit
4,468
4,426
4,815
5,160
4,764
5,405
5,250
5,447
3,517
5,181
5,501
5,872
1,839
EPS in Rs
8.61
8.5
9.26
9.92
9.14
10.36
10.08
10.48
6.71
9.93
10.53
11.22
3.45
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
44,915
45,799
44,473
46,056
52,906
78,895
74,314
73,385
94,139
1,18,379
1,27,945
1,34,298
1,36,546
Expenses
13,466
25,391
19,250
26,093
25,815
40,583
38,636
37,518
38,239
44,387
45,533
48,058
49,223
Financing Profit
902
-11,700
-4,372
-9,197
-5,414
-11,728
-7,523
-2,948
5,957
4,093
4,147
4,381
4,469
Fin. Margin %
2%
-26%
-10%
-20%
-10%
-15%
-10%
-4%
6%
3%
3%
3%
3%
Other Income
5,449
5,992
7,937
7,992
7,887
12,191
15,254
14,395
16,639
23,399
24,939
22,527
17,511
Interest
30,547
32,107
29,596
29,160
32,506
50,040
43,201
38,815
49,942
69,899
78,265
81,860
82,855
Depreciation
368
525
540
901
948
1,697
1,357
1,438
2,032
1,694
1,467
1,963
0
PBT
5,983
-6,233
3,024
-2,106
1,525
-1,234
6,373
10,008
20,565
25,799
27,619
24,945
21,981
Tax %
36%
-19%
41%
-9%
29%
-176%
77%
23%
29%
29%
26%
22%
—
Net Profit
3,950
-5,033
1,855
-1,836
1,166
981
1,620
7,933
15,005
18,869
20,865
20,070
18,392
EPS in Rs
17.69
-21.99
7.88
-7.13
4.16
2.01
2.99
15.18
28.82
36.29
40.06
38.38
35.13
Div. Payout %
18%
0%
15%
0%
0%
0%
0%
19%
19%
21%
21%
22%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
444
462
462
530
530
925
1,036
1,036
1,036
1,036
1,036
1,036
Reserves
41,574
42,041
42,605
46,036
54,466
75,179
81,354
90,833
1,04,019
1,18,677
1,45,467
1,64,833
Borrowing
35,502
33,845
31,242
64,860
68,868
95,753
71,263
1,09,526
1,07,910
1,01,959
1,35,813
1,70,297
Deposits
6,29,981
5,86,690
6,17,257
6,07,451
6,65,589
9,73,228
9,95,910
10,75,804
12,34,682
13,59,980
14,96,688
16,75,895
Other Liabilities
26,465
28,134
27,649
28,919
30,217
54,850
53,104
62,922
78,224
73,123
82,762
89,425
Total Liabilities
7,33,966
6,91,173
7,19,216
7,47,796
8,19,670
11,99,935
12,02,667
13,40,121
15,25,871
16,54,775
18,61,766
21,01,485
Fixed Assets
2,978
6,359
5,930
5,532
7,368
9,268
8,438
11,098
9,865
9,054
13,544
13,107
CWIP
0
0
0
0
0
0
2
1
3
6
1
1
Investments
1,24,739
1,28,894
1,40,716
1,75,137
1,95,716
2,89,727
2,81,859
3,47,587
3,97,487
4,07,136
4,27,380
4,35,778
Other Assets
6,06,248
5,55,920
5,72,570
5,67,126
6,16,586
9,00,941
9,12,367
9,81,435
11,18,516
12,38,580
14,20,842
16,52,599
Total Assets
7,33,966
6,91,173
7,19,216
7,47,796
8,19,670
11,99,935
12,02,667
13,40,121
15,25,871
16,54,775
18,61,766
21,01,485
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
17,838
-10,011
17,865
-59,692
-1,449
18,531
-887
6,210
-21,271
-6,274
34,892
33,426
Investing
-556
-4,005
-551
-414
-2,537
-139
-471
-3,645
-1,096
-1,285
-6,494
-3,275
Financing
-6
-616
-198
3,413
4,449
14,729
-986
-998
-5,488
5,476
3,790
-1,806
Net Cash Flow
17,276
-14,632
17,116
-56,692
462
33,120
-2,344
1,567
-27,855
-2,084
32,188
28,345
Free Cash Flow
17,282
-14,016
17,314
-60,105
-3,986
18,393
-1,146
2,805
-22,057
-7,153
28,979
31,911
CFO/OP
57
-56
66
-304
11
49
12
20
-28
3
54
44
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
10%
-12%
4%
-4%
2%
1%
2%
9%
15%
17%
16%
13%

Shareholding Pattern

As of Jun 2026
Promoters 63.97%
DIIs 18.42%
FIIs 10.14%
Public 6.07%
Others 1.40%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
63.97%
63.97%
63.97%
63.97%
63.97%
63.97%
63.97%
63.97%
63.97%
63.97%
63.97%
63.97%
63.97%
63.97%
63.97%
63.97%
63.97%
63.97%
63.97%
63.97%
63.97%
63.97%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
12.39%
12.27%
12.40%
11.45%
9.87%
8.91%
8.98%
8.08%
8.71%
9.84%
9.69%
10.14%
DIIs
15.83%
14.40%
14.69%
14.63%
15.02%
16.75%
17.54%
17.95%
17.00%
14.30%
16.00%
16.00%
16.30%
16.04%
16.60%
18.12%
18.23%
19.06%
19.01%
18.81%
19.01%
18.42%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
9.85%
9.68%
10.14%
9.66%
7.75%
7.75%
7.03%
6.78%
6.97%
6.61%
6.58%
6.55%
6.29%
7.22%
8.04%
7.53%
7.47%
7.42%
6.87%
6.13%
6.00%
6.07%
Others
10.35%
11.95%
11.20%
11.75%
13.25%
11.53%
11.45%
11.30%
12.06%
15.12%
1.06%
1.21%
1.03%
1.33%
1.51%
1.46%
1.35%
1.47%
1.44%
1.25%
1.33%
1.40%
No. of Shareholders
10,46,430
11,95,490
12,41,140
13,63,560
12,64,080
12,81,420
12,19,440
12,37,080
12,78,020
12,39,960
12,70,480
12,89,440
13,29,620
14,11,270
17,11,550
16,93,920
16,89,800
16,31,560
15,65,740
14,77,400
14,59,930
14,60,580

Documents

1
Concall - May 2017 May 2017
2
Concall - Aug 2017 Aug 2017
3
Concall - Feb 2018 Feb 2018
4
Concall - Jan 2019 Jan 2019
5
Concall - May 2022 May 2022

Frequently Asked Questions about Bank of Baroda

What does Bank of Baroda do?
Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.(Source : Company Web-site)
Where is Bank of Baroda (BANKBARODA) listed?
Bank of Baroda is listed on the Indian stock exchanges. It is listed on NSE: BANKBARODA and BSE: 532134. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Bank of Baroda belong to?
Bank of Baroda operates in the Banks sector within the Public Sector Bank industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Bank of Baroda?
Bank of Baroda has a market capitalisation of approximately ₹128772.09 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Bank of Baroda?
The Price-to-Earnings (PE) ratio of Bank of Baroda is 7.14. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Bank of Baroda?
Over the past 52 weeks, Bank of Baroda has traded between a low of ₹230.81 and a high of ₹325.5. This range helps investors understand the stock's price volatility and recent trading levels.
Does Bank of Baroda pay dividends?
Yes, Bank of Baroda has a dividend yield of 3.39%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Bank of Baroda?
Bank of Baroda has a Return on Equity (ROE) of 11.64%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Bank of Baroda on Tapetide?
On Tapetide, you can view Bank of Baroda's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.(Source : Company Web-site)

Website bankofbaroda.bank.in
CEO Dr. Debadatta Chand
Employees 75,008
Listed 1997-02-19
Face Value ₹ 2
Issued Size 5,17,13,62,179

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