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 ₹ 38,272 Cr.
- Current Price ₹ 132
- High / Low ₹ 162 / 77.7
- Stock P/E 255
- Book Value ₹ 16.1
- Dividend Yield 0.00 %
- ROCE 3.99 %
- ROE -0.63 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
Cons
- Stock is trading at 8.15 times its book value
- Earnings include an other income of Rs.278 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
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 | TTM | |
|---|---|---|---|---|---|---|
| 233 | 744 | 1,940 | 2,887 | 3,900 | 4,297 | |
| Sales growth | +219% | +161% | +49% | +35% | +30% | |
| 99 | 766 | 2,916 | 2,813 | 3,529 | 3,813 | |
| Operating Profit | 134 | -22 | -975 | 73 | 370 | 484 |
| OPM % | 57% | -2.9% | -50% | 2.5% | 9% | 11% |
| 2 | 28 | 146 | 120 | 179 | 278 | |
| Interest | 0 | 21 | 65 | 85 | 102 | 95 |
| Depreciation | 4 | 75 | 298 | 366 | 437 | 459 |
| Profit before tax | 132 | -89 | -1,193 | -259 | 10 | 208 |
| Tax % | 25% | -6% | -5% | -6% | 344% | |
| 98 | -84 | -1,131 | -243 | -24 | 107 | |
| EPS in Rs | 0.45 | -0.38 | -4.82 | -0.99 | -0.08 | 0.37 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 74% |
| TTM: | 30% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 23% |
| TTM: | 169% |
| Stock Price CAGR | |
|---|---|
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| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| Last Year: | -1% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 6 | 218 | 286 | 290 |
| Reserves | 100 | -189 | -1,253 | 472 | 3,411 | 4,398 |
| 0 | 956 | 1,687 | 1,831 | 1,876 | 998 | |
| 67 | 1,307 | 2,040 | 1,647 | 2,125 | 2,566 | |
| Total Liabilities | 173 | 2,080 | 2,481 | 4,168 | 7,697 | 8,252 |
| 27 | 1,121 | 1,464 | 1,586 | 1,830 | 1,709 | |
| CWIP | 6 | 5 | 0 | 9 | 8 | 1 |
| Investments | 24 | 205 | 173 | 1,401 | 2,426 | 2,968 |
| 116 | 748 | 844 | 1,172 | 3,433 | 3,574 | |
| Total Assets | 173 | 2,080 | 2,481 | 4,168 | 7,697 | 8,252 |
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 | 1 | 306 |
| Free Cash Flow | 37 | 124 | 1 | 340 | 494 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 69% | -1,354% | -22% | 693% | 233% |
Ratios
Consolidated / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 0 | 6 | 7 | 5 | 8 |
| Inventory Days | 174 | ||||
| Days Payable | 398 | ||||
| Cash Conversion Cycle | 0 | -217 | 7 | 5 | 8 |
| Working Capital Days | -82 | -214 | -112 | -88 | 20 |
| ROCE % | -15% | -172% | -9% | 4% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
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| ACPU (Online) - Average Collection Per User INR ・Standalone data |
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| Education Categories count ・Standalone data |
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| Offline Student Enrolments million ・Standalone data |
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| Total Faculty Members count ・Standalone data |
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| Total Offline Centers count ・Standalone data |
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| Total Paid Users million ・Standalone data |
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| Unique Transacting Users (Online) million ・Standalone data |
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| PW App Daily Active Users (DAU) million ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
- 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
- Physicswallah will host its first Investor Day 2026 on November 18 in Mumbai for analysts and investors.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
- Physicswallah Limited has informed regarding Transcript of Earnings Conference Call Q2FY27.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
- Physicswallah Limited has informed regrading newspaper publication of financial results for the quarter and half year ended September 30, 2026
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Audio recording of November 4, 2026 earnings conference call is now available online.
Concalls
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Nov 2026Transcript PPT REC
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Aug 2026Transcript PPT
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May 2026REC
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Feb 2026Transcript REC
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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.