Concern
Returns declining
ROE declined from 15.5% to 12.5% year on year.
Importance 43 / 95 · profitability
Bank Of Baroda · Research view
Bank Of Baroda
NSE: BANKBARODABSE: 532134ISIN INE028A01039Face value ₹2standalone
₹232
+1.78% · 2026-10-01 · 52-wk ₹228–₹324
Financials to FY2026 · 5 years of history · prices to 2026-10-01consolidatedstandalone
Section 02 · Synthesis
What stands out?
The strongest observations the engine found, ranked. Every line is generated from the filed numbers by a fixed rule — no opinion, no estimate.
StrengthConcernWatchContext
Strength
Loan book growing double-digit
Advances grew 16.4% year on year (FY2025 → FY2026).
Importance 35 / 95 · growth
Section 03 · The company
Who is this company?
Classified by the exchange under Financial Services › Financial Services › Banks › Public Sector Bank.
- Market cap
- ₹1.20 L cr
- FY2026 total income
- ₹1,42,750 cr
- FY2026 net profit
- ₹20,021 cr
- Net worth
- ₹1,53,209 cr
- Advances
- ₹14,09,094 cr
- EPS (basic)
- ₹38.72
- Listed
- NSE · BSE
- Reporting
- Banking (Sch. III)Apr–Mar
Peer set used on this page: 8 public sector bank.
Section 04 · Business performance
Is the business growing?
Total incomeNet profit
Advances (loans)Deposits
Strength
Advances grew 16.4% year on year (FY2025 → FY2026).
Rule BANK_LOAN_GROWTH_STRONG
- Advances growth per year
- +16.0%over 4 years
- Advances growth
- +16.5%vs last year
- Deposits growth
- +12.0%vs last year
- Net profit growth
- +2.2%vs last year
Section 05 · Recent activity
What changed recently?
Quarterly results, the trailing-twelve-months snapshot, and verified corporate actions — kept separate from each other and from the annual story above. Every figure traces to a filed number; nothing here is external news or commentary.
Concern
Q1 FY27 net profit was ₹1,783 cr, down 48.6% from ₹3,469 cr a year earlier.
Rule QTR_PROFIT_GROWTH_YOY
Watch
Q1 FY27 net profit declined 48.6% vs the same quarter last year, reversing the growth seen in the two preceding quarters (+4.4% and +4.2%).
Rule QTR_TREND_REVERSAL
Watch
Q1 FY27 net profit declined 48.6% while total income grew 7.6% vs the same quarter last year — a gap of 56.2 percentage points.
Rule QTR_PROFIT_VS_REVENUE_GROWTH
A. Quarterly results
Total incomeNet profit
| Quarter | Total income | YoY | Net profit | YoY |
|---|---|---|---|---|
| Q2 FY25 | 39,455 | — | 5,355 | — |
| Q3 FY25 | 37,732 | +7.5% | 5,214 | +8.9% |
| Q4 FY25 | 39,896 | +6.1% | 5,420 | +5.6% |
| Q1 FY26 | 38,404 | +7.3% | 3,469 | −26.6% |
| Q2 FY26 | 38,434 | −2.6% | 5,134 | −4.1% |
| Q3 FY26 | 39,999 | +6.0% | 5,443 | +4.4% |
| Q4 FY26 | 39,988 | +0.2% | 5,648 | +4.2% |
| Q1 FY27 | 41,317 | +7.6% | 1,783 | −48.6% |
B. TTM snapshot
Trailing twelve months to 30 Jun 2026 · sum of the last 4 contiguous quarters
- Total income
- ₹1,59,738 crTTM
- PBT
- ₹21,981 crTTM
- Net profit
- ₹18,008 crTTM
C. Corporate actions
5 Jun 2026DividendDividend - Rs. - 8.5000 — ₹8.50/share
6 Jun 2025DividendFinal Dividend - Rs. - 8.3500 — ₹8.35/share
28 Jun 2024DividendDividend - Rs. - 7.6000 — ₹7.60/share
30 Jun 2023DividendDividend - Rs. - 5.5000 — ₹5.50/share
17 Jun 2022DividendDividend - Rs. - 2.8500 — ₹2.85/share
22 Jun 2017DividendDividend - Rs. - 1.2000 — ₹1.20/share
16 Jun 2015DividendDividend - Rs. - 3.2000 — ₹3.20/share
22 Jan 2015Stock splitStock Split From Rs.10/- to Rs.2/- — 10:2
12 Jun 2014DividendFinal Dividend - Rs. - 10.5000 — ₹10.50/share
20 Jan 2014DividendInterim Dividend - Rs. - 11.0000 — ₹11.00/share
13 Jun 2013DividendDividend - Rs. - 21.5000 — ₹21.50/share
14 Jun 2012DividendDividend - Rs. - 17.0000 — ₹17.00/share
23 Jun 2011DividendDividend - Rs. - 16.5000 — ₹16.50/share
24 Jun 2010DividendDividend - Rs. - 15.0000 — ₹15.00/share
18 Jun 2009DividendDividend - Rs. - 9.0000 — ₹9.00/share
6 Nov 2008OtherGeneral
17 Jul 2008DividendDividend - Rs. - 8.0000 — ₹8.00/share
13 Jul 2001DividendDividend - Rs. - 4.0000 — ₹4.00/share
Section 06 · Business performance
Is it becoming more profitable?
Net interest margin (left)Return on equity (right)
Concern
ROE declined from 15.5% to 12.5% year on year.
Rule ROE_DETERIORATED_YOY
- NIM FY2026
- 2.52%
- Cost-to-income
- 49.1%
- ROE FY2026
- 13.8%
- ROA FY2026
- 1.06%
Section 07 · Financial health
Is financial health improving?
Gross NPA %Net NPA %
Asset quality and capitalisation over the loaded history are shown above.
Net worth (capital + reserves)
- Gross NPA FY2026
- 1.89%
- Net NPA
- 0.45%
- Credit cost
- 0.55%of advances
- Credit / deposit
- 85%
Section 08 · Relative position
How does it compare with peers?
Ranked against 8 public sector bank (FY2026, consolidated). No peer-relative rule fired for this company.
Return on equity
BANKBARODA · 7th of 8 · set median 15.2%
P/E ratio
BANKBARODA · 5th of 8 · set median 6.4×
- P / E
- 6.7×TTM to Jun 26
- P / B
- 0.7×latest book
- P / S
- 0.8×TTM sales
- Earnings yield
- 15.0%TTM to Jun 26
On the trailing twelve months. Last full year: P/E 6.2× · P/S 0.8× · ROE 12.5%.
Section 09 · The stock
How has the stock performed?
Long-term price performance is shown above.
- 1-year return
- −10.7%
- 3-year return
- +8.3%
- 5-year return
- +181.1%
- From 52-wk high
- −28.6%
Section 10 · Technical data
What does the technical data say?
Price-action indicators as of 2026-10-01. Secondary to the fundamentals above — included for timing context, not as a signal.
- vs 50-day avg
- Below₹241
- vs 200-day avg
- Below₹270
- RSI (14)
- 42.3neutral
- MACD histogram
- -0.2
- From 52-wk high
- −28.6%
- From 52-wk low
- +1.8%
- 30-day volatility
- 18.0%ann.
- 6-month return
- −11.0%
Section 11 · Open questions
What should I investigate further?
Observations the engine tagged watch or deteriorating — prompts for your own research, not conclusions.
- ConcernReturns decliningROE declined from 15.5% to 12.5% year on year.ROE_DETERIORATED_YOY · conviction 43
Data coverage is complete — 5 years of financials (FY2022–FY2026), full P&L, balance sheet and cash-flow statement, sector metrics fully mapped.
Section 12 · Reference
The numbers
The full statements, kept deliberately secondary. Every figure traces to a BSE Integrated Filing (inline XBRL); ratios are recomputed from the normalised facts.
| Metric | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Total income | 81,365 | 99,614 | 1,27,101 | 1,38,089 | 1,42,750 |
| Interest earned | 69,881 | 89,589 | 1,12,606 | 1,21,442 | 1,26,994 |
| Interest expended | 37,259 | 48,233 | 67,884 | 75,783 | 79,311 |
| Net interest income | 32,621 | 41,356 | 44,722 | 45,659 | 47,682 |
| Pre-provision operating profit | 22,389 | 26,864 | 30,965 | 32,435 | 32,259 |
| Provisions & contingencies | 13,002 | 7,137 | 6,076 | 5,980 | 7,149 |
| Profit before tax | 9,386 | 19,727 | 24,890 | 26,454 | 25,110 |
| Net profit | 7,272 | 14,110 | 17,789 | 19,581 | 20,021 |
| EPS (₹) | 14.1 | 27.3 | 34.4 | 37.9 | 38.7 |
| Net worth | 86,763 | 98,223 | 1,12,224 | 1,36,926 | 1,53,209 |
| Total debt | 1,03,899 | 1,01,910 | 94,402 | 1,23,716 | 1,56,357 |
| Advances | 7,77,155 | 9,40,998 | 10,65,782 | 12,09,558 | 14,09,094 |
| Deposits | 10,45,939 | 12,03,688 | 13,26,958 | 14,72,035 | 16,48,487 |
| Borrowings | 1,03,899 | 1,01,910 | 94,402 | 1,23,716 | 1,56,357 |
| Investments | 3,15,795 | 3,62,485 | 3,69,817 | 3,85,398 | 3,86,415 |
| Gross NPAs | 54,059 | 36,764 | 31,834 | 27,835 | 27,059 |
| Net NPAs | 13,365 | 8,384 | 7,213 | 6,994 | 6,316 |
| Operating cash flow | 7,529 | −19,376 | −5,457 | 28,020 | 30,975 |
| Ratio | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Growth | |||||
| Advances growth YoY | — | 21.1 | 13.3 | 13.5 | 16.5 |
| Deposits growth YoY | — | 15.1 | 10.2 | 10.9 | 12.0 |
| Profit growth YoY | — | 94.0 | 26.1 | 10.1 | 2.2 |
| Profitability | |||||
| Net interest margin % | 2.6 | 3.0 | 2.9 | 2.7 | 2.5 |
| Cost-to-income % | 49.2 | 47.7 | 47.7 | 47.9 | 49.1 |
| Return on equity % | 8.4 | 15.3 | 16.9 | 15.7 | 13.8 |
| Return on assets % | 0.6 | 1.0 | 1.2 | 1.2 | 1.1 |
| Asset quality | |||||
| Gross NPA % | 6.6 | 3.8 | 2.9 | 2.3 | 1.9 |
| Net NPA % | 1.7 | 0.9 | 0.7 | 0.6 | 0.4 |
| Credit cost % | 1.7 | 0.8 | 0.6 | 0.5 | 0.5 |
| Credit / deposit % | 74.3 | 78.2 | 80.3 | 82.2 | 85.5 |