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Dossier · BANK OF BARODA · 29 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
BANK OF BARODA NSE: BANKBARODA · BSE: 532134
Financial Services › Financial Services › Banks › Public Sector Bank
BANK OF BARODA
StateQ1 FY27 filed
Last close · 28 Oct 2026₹231.82
Market cap₹120.0k cr
TTM P/E · P/B · EV/EBITDA6.6 · — · —
A Public Sector Bank that earns the bulk of its revenue from interest on loans and from its investment book. In the period ending 31 December 2024, Retail Banking (excluding Digital) generated Rs. 41,361.21 crore (36.6% of segment revenue) from home, personal and other retail loans; Wholesale Banking generated Rs. 39,518.29 crore (35.0%) from lending to large and mid-size corporates and related fee income; Treasury Operations contributed Rs. 24,882.5 crore (22.0%) from the bank's holdings of government and other securities; and Other Banking Operations contributed Rs. 7,225.57 crore (6.4%). Digital Banking was a negligible contributor at Rs. 0.84 crore. Global business crossed Rs. 30.78 lakh crore at end-FY26, with advances up 16.2% YoY and the RAM (Retail, Agriculture, MSME) book at 61% of advances; the retail book alone crossed Rs. 3 lakh crore. Asset quality stood at Gross NPA 1.89%, Net NPA 0.45% and Provision Coverage Ratio 93.94%, on total assets of Rs. 21,01,501.85 crore. Deposit cost — 4.78% in Q4 FY26 — is the principal input cost, with lending rates set against the bank's MCLR (8.75% on the one-year tenor). Fee income is also earned through subsidiaries including IndiaFirst Life Insurance and BOB Capital Markets; BoB Securities and Giltedge Ltd became operational on 1 April 2026 and a pension fund subsidiary is in the pipeline. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Retail Banking - Other Retail (37%), Wholesale Banking (35%), Treasury Operations (22%), Other Banking Operations (6%), Retail Banking - Digital Banking (0%). Cyclical, asset-heavy public sector commercial bank with a large treasury book.
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
₹ crore · consolidated
FY22
FY23
FY24
FY25
FY26
Revenue
—
—
—
—
—
EBITDA (ex other income)
—
—
—
—
—
margin %
—
—
—
—
—
Owners' profit
7,850
14,905
18,767
20,716
19,477
EPS, as reported (₹)
15.18
28.82
36.29
40.06
38.38
ROE % · ROCE %
— · —
— · —
— · —
— · —
— · —
Debt / equity (x)
—
—
—
—
—
Cash from operations
6,538
(21,271)
(6,274)
34,892
33,426
Capex
—
—
—
—
—
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · BANK OF BARODA · 29 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
₹ crore
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
Q3 FY26
Q4 FY26
Q1 FY27
Revenue
—
—
—
—
—
—
—
—
Profit before tax
7,434
6,935
6,911
5,170
6,695
7,024
6,057
2,206
Net profit
5,455
5,117
5,307
3,352
5,070
5,407
5,648
1,573
EPS (₹)
10.36
10.08
10.48
6.71
9.93
10.53
11.22
3.45
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Peers — basic industry group, by market cap
Company
M.cap ₹ cr
P/E
P/B
EV/EBITDA
ROE %
ROCE %
Rev CAGR 5y %
EBITDA m. %
STATE BANK OF INDIA
8,83,184
10.3
—
—
—
—
—
—
UNION BANK OF INDIA
1,39,321
6.8
—
—
—
—
—
—
PUNJAB NATIONAL BANK
1,38,272
6.3
—
—
—
—
—
—
BANK OF BARODA ◆
1,20,028
6.6
—
—
—
—
—
—
INDIAN BANK
1,12,592
8.8
—
—
—
—
—
—
CANARA BANK
1,06,898
5.4
—
—
—
—
—
—
BANK OF MAHARASHTRA
61,456
8.2
—
—
—
—
—
—
BANK OF INDIA
60,515
5.1
—
—
—
—
—
—
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 4: Where the company sits in its group
Metric
Company
Group median
Rank
Better than
P/E (TTM)
6.6
7.5
5 of 12
64%
Profit growth
(53.1)
28.3
12 of 12
0%
Market cap
120028
84177
4 of 12
73%
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · BANK OF BARODA · 29 October 2026Page 3 of 3
Exhibit 5: Filings of the last 90 days, with the measured price reaction
Date · filing
Category
Importance
Next day %
5-day %
26 Oct 2026 · Bank of Baroda schedules Q2 FY2026-27 media and analyst meets
results
low
—
—
23 Oct 2026 · Government nominee director changed on Bank of Baroda board
management changes
medium
—
—
21 Oct 2026 · Board meeting on Oct 30 to consider Q2 FY27 results
results
low
—
—
14 Oct 2026 · Bank of Baroda clarifies media reports on lawsuit by Raghuram Shetty
regulatory legal
high
—
—
9 Oct 2026 · Bank of Baroda keeps MCLR rates unchanged across all tenors
business updates
medium
—
—
8 Oct 2026 · Notice on special window for dematerialisation of physical shares
compliance
minimal
—
—
7 Oct 2026 · BOB: CARE Reaffirms AAA Rating with Stable Outlook
credit debt
medium
—
—
7 Oct 2026 · Bank of Baroda revises BRLLR lending rate up by 25 bps to 8.15 percent
business updates
medium
—
—
5 Oct 2026 · Bank of Baroda - Statement of Outstanding Bonds as on 30 Sep 2026
credit debt
low
—
—
3 Oct 2026 · Bank of Baroda Q2 FY26 provisional: global business up 17.45% YoY
business updates
medium
—
—
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
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A rating (BUY / ADD / REDUCE / SELL)
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More audited years; no estimates
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Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
