Is Bank of Maha overvalued or undervalued?

As of 17 October 2025, the valuation grade for Bank of Maha has moved from very attractive to attractive. The company is currently considered undervalued, with a PE ratio of 7.17, a Price to Book Value of 1.39, and a PEG ratio of 0.46. Notably, Bank of Maha's return on equity stands at 19.38%, indicating strong profitability relative to its equity base.
In comparison to its peers, Bank of Maha's valuation metrics are favorable; for instance, SBI is classified as very expensive with a PE ratio of 11.24, while Bank of Baroda and Canara Bank are both attractive with PE ratios of 6.94 and 6.37, respectively. Despite a slight decline in stock price recently, Bank of Maha has outperformed the Sensex over the year and the past three years, with returns of 5.78% and 202.86%, respectively, reinforcing its position as an undervalued asset in the public sector banking space.