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 ₹ 27,679 Cr.
- Current Price ₹ 96.8
- High / Low ₹ 162 / 77.7
- Stock P/E 1,782
- 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 5.41 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 | ||
| -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 | 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 | |
|---|---|---|---|
| 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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Compliances-Reg.24(A)-Annual Secretarial Compliance
28 May - Annual secretarial compliance report notes 2-day delayed disclosure of ₹263.34 crore income-tax demand notice.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
28 May - Audio recording of May 27, 2026 earnings conference call for FY26 results is now available on the website.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 28 May
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
28 May - Audio recording of FY26 earnings conference call held May 27, 2026 made available online.
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Announcement under Regulation 30 (LODR)-Change in Management
27 May - Board re-appointed Grant Thornton Bharat LLP as internal auditor and Bahadur Murao & Co. as cost auditor for FY2026-27.
Concalls
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May 2026TranscriptPPTREC
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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.