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 ₹ 36,078 Cr.
- Current Price ₹ 126
- High / Low ₹ 162 / 77.7
- Stock P/E
- Book Value ₹ 15.8
- Dividend Yield 0.00 %
- ROCE 4.02 %
- ROE -0.48 %
- 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.179 Cr.
- Working capital days have increased from 9.30 days to 227 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 233 | 744 | 1,941 | 2,887 | 3,900 | |
| 99 | 766 | 2,098 | 2,688 | 3,530 | |
| Operating Profit | 134 | -22 | -157 | 199 | 370 |
| OPM % | 57% | -3% | -8% | 7% | 9% |
| 2 | 28 | -672 | -6 | 179 | |
| Interest | 0 | 21 | 65 | 85 | 102 |
| Depreciation | 4 | 75 | 298 | 366 | 437 |
| Profit before tax | 132 | -89 | -1,193 | -259 | 10 |
| Tax % | 25% | -6% | -5% | -6% | 344% |
| 98 | -84 | -1,131 | -243 | -24 | |
| EPS in Rs | 16.37 | -13.57 | -173.40 | -0.99 | -0.08 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 74% |
| TTM: | 35% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 23% |
| TTM: | 87% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
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| Last Year: | 0% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 6 | 218 | 286 |
| Reserves | 100 | -189 | -1,252 | 472 | 4,234 |
| 0 | 956 | 2,461 | 1,831 | 1,052 | |
| 67 | 1,307 | 1,270 | 1,647 | 2,104 | |
| Total Liabilities | 173 | 2,080 | 2,485 | 4,168 | 7,677 |
| 27 | 1,121 | 1,464 | 1,586 | 1,833 | |
| CWIP | 6 | 5 | 0 | 9 | 5 |
| Investments | 24 | 205 | 173 | 1,401 | 2,426 |
| 116 | 748 | 848 | 1,172 | 3,413 | |
| Total Assets | 173 | 2,080 | 2,485 | 4,168 | 7,677 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 59 | 270 | 212 | 507 | 833 | |
| -58 | -1,076 | -43 | -1,513 | -3,282 | |
| 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% | -139% | 256% | 233% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 0 | 6 | 5 | 5 | 8 |
| Inventory Days | 174 | ||||
| Days Payable | 398 | ||||
| Cash Conversion Cycle | 0 | -217 | 5 | 5 | 8 |
| Working Capital Days | -82 | -214 | -111 | -88 | 227 |
| ROCE % | -15% | -37% | -2% | 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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Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
2d - Physicswallah Limited has informed regarding allotment of equity shares pursuant to exercise of stock options.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
12 Jun - Physicswallah Limited has informed regarding Schedule of Analysts'' and Investors'' Conference/Meet.
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Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
10 Jun - Physicswallah Limited has informed regarding allotment of equity shares pursuant to exercise of stock options under Employees Stock Option Plan, 2022.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
8 Jun - Physicswallah Limited has informed regarding Schedule of Investor Meet.
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Announcement Under Regulation 30 (LODR) - Grant Of Stock Options
5 Jun - NRC approved grant of 11,94,830 stock options under ESOP Plan 2025 on June 5, 2026.
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.