Physicswallah Ltd
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]
- Market Cap ₹ 36,561 Cr.
- Current Price ₹ 128
- High / Low ₹ 162 / 121
- Stock P/E
- Book Value ₹
- Dividend Yield 0.00 %
- ROCE -4.57 %
- ROE -117 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
Cons
- Company has low interest coverage ratio.
- Earnings include an other income of Rs.120 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Consumer Discretionary Consumer Services Other Consumer Services E-Learning
Part of BSE IPO
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 10m | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 25 | 232 | 735 | 1,536 | 2,334 | |
| 15 | 100 | 744 | 2,413 | 2,261 | |
| Operating Profit | 9 | 133 | -10 | -876 | 73 |
| OPM % | 38% | 57% | -1% | -57% | 3% |
| 0 | 2 | 29 | 15 | 120 | |
| Interest | 0 | 0 | 20 | 59 | 77 |
| Depreciation | 0 | 3 | 80 | 211 | 267 |
| Profit before tax | 9 | 131 | -81 | -1,131 | -150 |
| Tax % | 25% | 25% | -5% | -5% | -10% |
| 7 | 98 | -77 | -1,071 | -136 | |
| EPS in Rs | 6,930.00 | 16.29 | -12.80 | -178.50 | -0.62 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 116% |
| TTM: | 52% |
| Compounded Profit Growth | |
|---|---|
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| 5 Years: | % |
| 3 Years: | % |
| TTM: | 84% |
| Stock Price CAGR | |
|---|---|
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| 1 Year: | % |
| Return on Equity | |
|---|---|
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| 5 Years: | % |
| 3 Years: | % |
| Last Year: | -117% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 6 | 6 | 6 | 218 | 1,053 |
| Reserves | 7 | 99 | 89 | -866 | 920 | 995 |
| 0 | 0 | 956 | 2,389 | 1,747 | 897 | |
| 41 | 66 | 801 | 838 | 1,302 | 2,012 | |
| Total Liabilities | 48 | 171 | 1,852 | 2,367 | 4,188 | 4,957 |
| 1 | 13 | 585 | 935 | 1,121 | 1,110 | |
| CWIP | 0 | 6 | 5 | 0 | 9 | 0 |
| Investments | 3 | 38 | 494 | 516 | 1,828 | 2,833 |
| 44 | 114 | 768 | 916 | 1,229 | 1,015 | |
| Total Assets | 48 | 171 | 1,852 | 2,367 | 4,188 | 4,957 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 45 | 57 | 267 | 295 | 471 | |
| -4 | -58 | -1,092 | -150 | -1,515 | |
| 0 | 0 | 850 | -148 | 1,039 | |
| Net Cash Flow | 41 | -1 | 24 | -3 | -6 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 22 | 0 | 3 | 4 | 5 |
| Inventory Days | 162 | ||||
| Days Payable | 314 | ||||
| Cash Conversion Cycle | 22 | 0 | -149 | 4 | 5 |
| Working Capital Days | -557 | -81 | -186 | -101 | -86 |
| ROCE % | 235% | -10% | -80% | -5% |
Documents
Announcements
-
Closure of Trading Window
29 Dec - Trading window closed Jan 1, 2026 until 48 hours after Q3/9M Dec 31, 2025 unaudited results.
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Announcement Under Reg 30 (LODR) - Acquisition Of Land By Wholly Owned Subsidiary Of The Company
23 Dec - Wholly-owned subsidiary acquired 1.76-acre Ranchi land for INR 69,49,72,800, sale deed dated 23-Dec-2025.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 20 Dec
-
Shareholder Meeting / Postal Ballot-Notice of Postal Ballot
19 Dec - Postal ballot to approve/adopt ESOPs (3,67,64,700 options), extend to group, amend AOA; e-voting Dec20–Jan18.
-
Announcement Under Regulation 30 (LODR) - Amendment To The Shareholders Agreement
18 Dec - Third SHA amendment (Dec 18, 2025): increases Xylem stake from 64.98% to 77.27%; revises tranches and EBITDA-based valuation.
Concalls
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Dec 2025Transcript PPT REC
Business Profile[1][2]
PhysicsWallah is one of India’s leading edtech cos offering affordable education through online, offline, and hybrid formats. The company has diversified offerings across 13 education categories, including JEE, NEET, UPSC, and new-age upskilling domains such as data science, banking and finance, and software development.