Physicswallah Ltd
PWL NSE
Physicswallah Ltd
Consumer ServicesNSE: PWL BSE: 544609 E-Learning
Key Fundamentals
SmallcapE-LearningConsumer ServicesMarket Cap
₹34,206 Cr
Volatility
Moderate
P/E Ratio
780.8
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
Log in to view Physicswallah Ltd insights
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 7.41 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 5d agoAI opinion · based on fundamentals
Risk high
Physicswallah Ltd trades at a market cap of Rs.37,581 Cr with a negative PE of -1,643.8x, reflecting continued losses despite strong revenue growth of 35% TTM. The company has reduced debt but faces deteriorating working capital efficiency with days rising from 8.91 to 227 days.
Bull Case 7
- Revenue compounding at 74% CAGR over 3 years indicates rapid scale-up in the edtech/consumer services space
- TTM sales growth of 35% shows continued top-line momentum even on a larger base
- Company has actively reduced debt, improving balance sheet flexibility for future investments
- Compounded profit growth of 87% TTM suggests losses are narrowing significantly on a trajectory toward breakeven
- 3-year compounded profit growth of 23% indicates a structural improvement in unit economics over time
- Market cap of Rs.37,581 Cr reflects investor confidence in the long-term addressable market for education services in India
- Other income of Rs.179 Cr provides a cash cushion that supports operations during the growth phase
Bear Case 8
- Negative PE of -1,643.8x confirms the company is still loss-making with no clear timeline to sustained profitability
- Working capital days have surged from 8.91 to 227 days, signaling severe deterioration in cash conversion efficiency
- Stock trades at 8.43x book value despite negative earnings, implying heavy premium on future expectations with no current profit support
- Low interest coverage ratio indicates operating profits are insufficient to comfortably service debt obligations
- Promoter holding decreased by 1.03% in the last quarter, which may signal reduced insider confidence or dilution
- Earnings quality is questionable as Rs.179 Cr other income forms a material portion of reported financials, masking core operating weakness
- Zero dividend yield with no return of capital to shareholders, typical for loss-making entities with uncertain cash flow generation
- ROE reported at 0% for the last year reflects an inability to generate meaningful returns on shareholder equity
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 1h ago Positives 3
- Net loss narrows sharply Aug 14
Net loss narrowed to ₹229M from ₹1.26B YoY, a dramatic 82% reduction indicating strong operational leverage and cost discipline.
- Revenue up 34% YoY Aug 14
Q1 consolidated revenue rose 34% YoY to ₹9.3B, showing sustained top-line momentum in the edtech segment.
- Sarrthi IAS becomes subsidiary Jul 17
Acquired additional 11% stake in Sarrthi IAS for ₹71.81 Cr, raising total holding to 51% and making it a subsidiary to strengthen UPSC prep vertical.
Neutral 1
- Q1FY27 earnings call scheduled Aug 11
PhysicsWallah hosted an earnings conference call on August 14, 2026 to discuss unaudited standalone and consolidated results for the quarter ended June 30, 2026.
TL;DR: Physicswallah is executing well on its path to profitability, with an 82% reduction in net loss alongside 34% revenue growth in Q1. The Sarrthi IAS acquisition signals continued inorganic expansion into competitive exam segments. No material headwinds are visible in this news cycle. 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
Announcement under Regulation 30 (LODR)-Newspaper Publication
15 Aug - Physicswallah Limited has informed regarding newspaper publication of Financial Results for the quarter ended June 30, 2026. 15 Aug - Physicswallah Limited has informed regarding newspaper publication of Financial Results for the quarter ended June 30, 2026.
2
Announcement Under Regulation (30) LODR- Appointment Of Secretarial Auditor
14 Aug - Board approved appointment of M/s. Naresh Verma & Associates as secretarial auditor for five years, subject to shareholder approval. 14 Aug - Board approved appointment of M/s. Naresh Verma & Associates as secretarial auditor for five years, subject to shareholder approval.
3
Announcement under Regulation 30 (LODR)-Change in Directorate
14 Aug - Anoop Kumar Mittal appointed as Additional Non-Executive Independent Director for five years from August 14, 2026. 14 Aug - Anoop Kumar Mittal appointed as Additional Non-Executive Independent Director for five years from August 14, 2026.
4
Announcement under Regulation 30 (LODR)-Amendments to Memorandum & Articles of Association
14 Aug - Board approved new AoA based on Table-F, subject to shareholder and regulatory approvals. 14 Aug - Board approved new AoA based on Table-F, subject to shareholder and regulatory approvals.
5
Announcement under Regulation 30 (LODR)-Acquisition
14 Aug - On August 14, 2026, Physicswallah approved acquiring remaining 10% of BIGPL, making it wholly owned. 14 Aug - On August 14, 2026, Physicswallah approved acquiring remaining 10% of BIGPL, making it wholly owned.
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 ₹34206.39 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 780.80. 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]