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 ₹ 30,708 Cr.
- Current Price ₹ 107
- High / Low ₹ 162 / 77.7
- Stock P/E
- Book Value ₹ 7.16
- Dividend Yield 0.00 %
- ROCE -4.57 %
- ROE -117 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
Cons
- Stock is trading at 15.0 times its book value
- 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.
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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| 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 |
| Free Cash Flow | 44 | 36 | 127 | 89 | 336 |
| CFO/OP | 476% | 68% | -3,029% | -34% | 649% |
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% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Average Collection Per User (Online) INR |
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| Average Engagement Time per Student Minutes |
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| Cumulative App Downloads Million |
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| Education Categories with >100M Collections Number |
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| Offline Student Enrollments Million |
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| PW Pathshala Centers Number |
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| PW Vidyapeeth Centers Number |
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| Total Faculty Members Number |
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| Total Number of Paid Users Million |
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| Total Offline Centers Number |
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| Unique Online Transacting Users Million |
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Extracted by Screener AI
Documents
Announcements
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Rumour verification - Regulation 30(11)
15 Apr - PhysicsWallah clarifies no material event on rumored Rojgar With Ankit stake acquisition.
- Clarification sought from Physicswallah Ltd 15 Apr
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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.
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018 7 Apr
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
4 Apr - Physicswallah to meet JM Financial Institutional Securities on April 8, 2026 in Noida.
Concalls
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Feb 2026TranscriptPPTREC
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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.