Physicswallah Ltd
PWL NSE
Physicswallah Ltd
Consumer ServicesNSE: PWL BSE: 544609 E-Learning
Key Fundamentals
SmallcapE-LearningConsumer ServicesMarket Cap
₹35,200 Cr
Volatility
Moderate
P/E Ratio
809
EBITDA
₹317 Cr
Return on Equity
-15.66%
Debt to Equity
0.23
Book Value
₹15.6
52W High
₹161.99
52W Low
₹77.72
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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33 extracted metrics + investor summaries across FY22–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
2- Company has reduced debt.
- Company is expected to give good quarter
Weaknesses
4- Stock is trading at 7.68 times its book value
- Promoter holding has decreased over last quarter: -1.03%
- Earnings include an other income of Rs.233 Cr.
- Working capital days have increased from 8.91 days to 227 days
Growth Rate
Revenue Growth
28.31% ↗
Net Income Growth
-86.92% ↘
Cash Flow Change
139.27% ↗
ROE
-116.23% ↘
ROCE
-92.12% ↘
EBITDA Margin (Avg.)
3.23% ↗
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 18h agoAI opinion · based on fundamentals
Risk high
Physicswallah Ltd trades at a market cap of Rs.35,200 Cr with a PE of 2,427x and PB of 7.78x. The company has delivered strong TTM sales growth of 33% and profit growth of 125%, but working capital days have deteriorated sharply from 8.91 to 227 days, and earnings quality is affected by Rs.233 Cr of other income.
Bull Case 7
- TTM revenue growth of 33% demonstrates continued top-line momentum in the edtech space
- Compounded profit growth of 125% on a TTM basis shows significant operating leverage kicking in
- 3-year compounded sales CAGR of 74% reflects sustained hypergrowth trajectory
- Company has reduced debt, improving balance sheet strength and financial flexibility
- Expected to deliver a good upcoming quarter based on operational trends
- 3-year compounded profit CAGR of 23% indicates the business is moving toward sustainable profitability
- Market cap of Rs.35,200 Cr positions it as a scaled edtech player with platform economics potential
Bear Case 8
- PE ratio of 2,427x implies negligible current earnings relative to market valuation
- Working capital days have surged from 8.91 to 227 days, signaling severe cash conversion deterioration
- Earnings include Rs.233 Cr of other income, raising questions about core operating profitability
- Stock trades at 7.78x book value, demanding significant future growth to justify the premium
- Promoter holding decreased by 1.03% in the last quarter, indicating potential insider dilution or selling
- Zero dividend yield with no near-term income return to shareholders
- ROE reported at 0% for the last year, indicating negligible return generation on equity capital
- Limited historical data with no 5-year or 10-year CAGR available, making long-term consistency unverifiable
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 1d ago Positives 2
- Revenue up 24%, K-12 surges 88% Aug 20
Q1FY27 revenue reached ₹1,054 crore, up 24% YoY. Online revenue grew 33% driven by K-12 segment surging 88%, while offline grew 16%.
- Net loss narrows sharply Aug 14
Net loss narrowed to ₹229 million from ₹1.26 billion YoY, a drastic improvement. Pre-Ind AS EBITDA improved 624 bps to -₹44 crore, signaling better operational leverage and cost discipline.
Neutral 2
- Director Sandeep Singhal resigns Aug 20
Non-Executive Nominee Director Sandeep Singhal resigned effective August 19, 2026, citing personal and professional commitments.
- Q1FY27 earnings call hosted Aug 11
PhysicsWallah hosted an earnings conference call on August 14, 2026, to discuss unaudited results for the quarter ended June 30, 2026.
TL;DR: Physicswallah is demonstrating strong revenue momentum with 24% YoY growth and impressive K-12 traction at 88%, while sharply narrowing losses from ₹1.26B to ₹229M shows improving unit economics. No material headwinds emerged this period. The trend is clearly improving, with the key question being when the company crosses into sustained profitability.
Quarterly Results
| Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales | 832 | 810 | 610 | 847 | 1,051 | 1,082 | 919 | 1,054 |
| Expenses | 698 | 626 | 838 | 923 | 870 | 846 | 890 | 1,111 |
| Operating Profit | 134 | 184 | -229 | -76 | 181 | 236 | 29 | -57 |
| OPM % | 16% | 23% | -38% | -9% | 17% | 22% | 3.1% | -5% |
| Other Income | 31 | 40 | 25 | 55 | 47 | 41 | 36 | 109 |
| Interest | 13 | 19 | 28 | 33 | 25 | 21 | 23 | 26 |
| Depreciation | 89 | 93 | 98 | 98 | 105 | 113 | 122 | 111 |
| PBT | 62 | 111 | -330 | -152 | 99 | 144 | -81 | -84 |
| Tax % | 34% | 31% | -12% | -16% | 29% | 29% | -14% | 5% |
| Net Profit | 41 | 77 | -289 | -127 | 70 | 102 | -69 | -88 |
| EPS in Rs | 7.42 | 15.11 | -1.34 | -0.55 | 0.33 | 0.35 | -0.26 | -0.27 |
Profit & Loss
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|
| Sales | 233 | 744 | 1,940 | 2,887 | 3,900 | 4,106 |
| Expenses | 99 | 766 | 2,916 | 2,688 | 3,530 | 3,717 |
| Operating Profit | 134 | -22 | -975 | 199 | 370 | 389 |
| OPM % | 57% | -2.9% | -50% | 7% | 9% | 9% |
| Other Income | 2 | 28 | 146 | -6 | 179 | 233 |
| Interest | 0 | 21 | 65 | 85 | 102 | 94 |
| Depreciation | 4 | 75 | 298 | 366 | 437 | 450 |
| PBT | 132 | -89 | -1,193 | -259 | 10 | 78 |
| Tax % | 25% | -6% | -5% | -6% | 344% | — |
| Net Profit | 98 | -84 | -1,131 | -243 | -24 | 15 |
| EPS in Rs | 16.37 | -13.57 | -173 | -0.99 | -0.08 | 0.15 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 6 | 218 | 286 |
| Reserves | 100 | -189 | -1,253 | 472 | 4,234 |
| Borrowings | 0 | 956 | 1,687 | 1,831 | 1,052 |
| Other Liabilities | 67 | 1,307 | 2,040 | 1,647 | 2,104 |
| Total Liabilities | 173 | 2,080 | 2,481 | 4,168 | 7,677 |
| Fixed Assets | 27 | 1,121 | 1,464 | 1,586 | 1,833 |
| CWIP | 6 | 5 | 0 | 9 | 5 |
| Investments | 24 | 205 | 173 | 1,401 | 2,426 |
| Other Assets | 116 | 748 | 844 | 1,172 | 3,413 |
| Total Assets | 173 | 2,080 | 2,481 | 4,168 | 7,677 |
Cash Flow
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Operating | 59 | 270 | 212 | 507 | 833 |
| Investing | -58 | -1,076 | -43 | -1,513 | -3,282 |
| Financing | 0 | 848 | -165 | 1,007 | 2,755 |
| Net Cash Flow | 1 | 42 | 4 | 0 | 306 |
| Free Cash Flow | 37 | 124 | 1 | 340 | 494 |
| CFO/OP | 69 | -1,354 | -22 | 256 | 233 |
Ratios
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 0 | 6 | 7 | 5 | 8 |
| Inventory Days | — | 174 | — | — | — |
| Days Payable | — | 398 | — | — | — |
| Cash Conversion Cycle | 0 | -217 | 7 | 5 | 8 |
| Working Capital Days | -82 | -214 | -112 | -88 | 227 |
| ROCE % | — | -15% | -172% | -3% | 4% |
Documents
1
Press Release- Physicswallah And Vi Strategic Partnership.
8 May - PhysicsWallah partners with Vi to bundle PW Pi Pro with Edu+ prepaid plans in Rajasthan and UP East. 8 May - PhysicsWallah partners with Vi to bundle PW Pi Pro with Edu+ prepaid plans in Rajasthan and UP East.
2
Rumour verification - Regulation 30(11)
15 Apr - PhysicsWallah clarifies no material event on rumored Rojgar With Ankit stake acquisition. 15 Apr - PhysicsWallah clarifies no material event on rumored Rojgar With Ankit stake acquisition.
3
Announcement Under Regulation 30 Of SEBI(LODR) - Update On Receipt Of Order
14 Apr - Income tax demand reduced from Rs. 263.34 crore to Rs. 192.76 crore; company has appealed. 14 Apr - Income tax demand reduced from Rs. 263.34 crore to Rs. 192.76 crore; company has appealed.
Frequently Asked Questions about Physicswallah Ltd
What does Physicswallah Ltd do?
Physicswallah is an edtech company offering test preparation courses for various competitive examinations like JEE, NEET, UPSC, etc., and upskilling courses like Data science and analytics, banking and finance, software development, etc[1]
Where is Physicswallah Ltd (PWL) listed?
Physicswallah Ltd is listed on the Indian stock exchanges. It is listed on NSE: PWL and BSE: 544609. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Physicswallah Ltd belong to?
Physicswallah Ltd operates in the Consumer Services sector within the E-Learning industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Physicswallah Ltd?
Physicswallah Ltd has a market capitalisation of approximately ₹35199.86 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Physicswallah Ltd?
The Price-to-Earnings (PE) ratio of Physicswallah Ltd is 809.00. 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 Physicswallah Ltd?
Over the past 52 weeks, Physicswallah Ltd has traded between a low of ₹77.72 and a high of ₹161.99. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Physicswallah Ltd?
Physicswallah Ltd has a Return on Equity (ROE) of -15.66%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Physicswallah Ltd on Tapetide?
On Tapetide, you can view Physicswallah Ltd'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
Physicswallah is an edtech company offering test preparation courses for various competitive examinations like JEE, NEET, UPSC, etc., and upskilling courses like Data science and analytics, banking and finance, software development, etc[1]