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 ₹ 41,372 Cr.
- Current Price ₹ 143
- High / Low ₹ 162 / 77.7
- Stock P/E 2,664
- Book Value ₹ 17.9
- Dividend Yield 0.00 %
- ROCE 3.68 %
- ROE 0.50 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
Cons
- Stock is trading at 7.98 times its book value
- Company has low interest coverage ratio.
- Earnings include an other income of Rs.164 Cr.
- Working capital days have increased from 20.0 days to 247 days
* 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.
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 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 25 | 232 | 735 | 1,536 | 2,334 | 3,245 | |
| 15 | 100 | 744 | 2,413 | 2,261 | 2,994 | |
| Operating Profit | 9 | 133 | -10 | -876 | 73 | 251 |
| OPM % | 38% | 57% | -1% | -57% | 3% | 8% |
| 0 | 2 | 29 | 15 | 120 | 164 | |
| Interest | 0 | 0 | 20 | 59 | 77 | 93 |
| Depreciation | 0 | 3 | 80 | 211 | 267 | 337 |
| Profit before tax | 9 | 131 | -81 | -1,131 | -150 | -16 |
| Tax % | 25% | 25% | -5% | -5% | -10% | 153% |
| 7 | 98 | -77 | -1,071 | -136 | -40 | |
| EPS in Rs | 6,930.00 | 16.29 | -12.80 | -178.50 | -0.62 | -0.14 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 166% |
| 3 Years: | 64% |
| TTM: | 39% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 18% |
| 3 Years: | 30% |
| TTM: | 110% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| Last Year: | 1% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 6 | 6 | 6 | 218 | 286 |
| Reserves | 7 | 99 | 89 | -866 | 920 | 4,826 |
| 0 | 0 | 956 | 2,389 | 1,747 | 985 | |
| 41 | 66 | 801 | 838 | 1,302 | 1,687 | |
| Total Liabilities | 48 | 171 | 1,852 | 2,367 | 4,188 | 7,784 |
| 1 | 13 | 585 | 935 | 1,121 | 1,192 | |
| CWIP | 0 | 6 | 5 | 0 | 9 | 5 |
| Investments | 3 | 38 | 494 | 516 | 1,828 | 3,192 |
| 44 | 114 | 768 | 916 | 1,229 | 3,395 | |
| Total Assets | 48 | 171 | 1,852 | 2,367 | 4,188 | 7,784 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 45 | 57 | 267 | 295 | 471 | 821 | |
| -4 | -58 | -1,092 | -150 | -1,515 | -3,310 | |
| 0 | 0 | 850 | -148 | 1,039 | 2,776 | |
| Net Cash Flow | 41 | -1 | 24 | -3 | -6 | 287 |
| Free Cash Flow | 44 | 36 | 127 | 89 | 336 | 643 |
| CFO/OP | 476% | 68% | -3,029% | -34% | 649% | 336% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 22 | 0 | 3 | 4 | 5 | 6 |
| Inventory Days | 162 | |||||
| Days Payable | 314 | |||||
| Cash Conversion Cycle | 22 | 0 | -149 | 4 | 5 | 6 |
| Working Capital Days | -557 | -81 | -186 | -101 | -86 | 247 |
| ROCE % | 235% | -10% | -80% | -5% | 4% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| ACPU (Online) - Average Collection Per User INR |
|
||
| Education Categories count |
|||
| Offline Student Enrolments million |
|||
| Total Faculty Members count |
|||
| Total Offline Centers count |
|||
| Total Paid Users million |
|||
| Unique Transacting Users (Online) million |
|||
| PW App Daily Active Users (DAU) million |
|||
Extracted by Screener AI
Documents
Announcements
-
Announcement Under Regulation 30 (LODR)- Grant Of Stock Options
2d - Physicswallah granted 2,23,100 stock options under ESOP Plan 2025 on July 11, 2026.
-
Announcement Under Regulation 30 (LODR) - Grant Of Stock Options
2 Jul - NRC approved 7,40,984 stock options under ESOP Plan 2025 on July 2, 2026.
-
Closure of Trading Window
29 Jun - Trading window closed from July 1, 2026 until 48 hours after Q1 FY27 results.
-
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
20 Jun - Physicswallah Limited has informed regarding allotment of equity shares pursuant to exercise of stock options.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
12 Jun - Physicswallah Limited has informed regarding Schedule of Analysts'' and Investors'' Conference/Meet.
Concalls
-
May 2026TranscriptPPTREC
-
Feb 2026TranscriptPPTREC
-
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.