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 ₹ 35,202 Cr.
- Current Price ₹ 121
- High / Low ₹ 162 / 77.7
- Stock P/E 576
- Book Value ₹ 15.8
- Dividend Yield 0.00 %
- ROCE 4.02 %
- ROE -0.48 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company is expected to give good quarter
Cons
- Stock is trading at 7.68 times its book value
- Promoter holding has decreased over last quarter: -1.03%
- Earnings include an other income of Rs.233 Cr.
- Working capital days have increased from 8.91 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 | TTM | |
|---|---|---|---|---|---|---|
| 233 | 744 | 1,940 | 2,887 | 3,900 | 4,106 | |
| 99 | 766 | 2,916 | 2,688 | 3,530 | 3,717 | |
| Operating Profit | 134 | -22 | -975 | 199 | 370 | 389 |
| OPM % | 57% | -2.9% | -50% | 7% | 9% | 9% |
| 2 | 28 | 146 | -6 | 179 | 233 | |
| Interest | 0 | 21 | 65 | 85 | 102 | 94 |
| Depreciation | 4 | 75 | 298 | 366 | 437 | 450 |
| Profit before tax | 132 | -89 | -1,193 | -259 | 10 | 78 |
| Tax % | 25% | -6% | -5% | -6% | 344% | |
| 98 | -84 | -1,131 | -243 | -24 | 15 | |
| EPS in Rs | 16.37 | -13.57 | -173.43 | -0.99 | -0.08 | 0.15 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 74% |
| TTM: | 33% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 23% |
| TTM: | 125% |
| 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 | -1,253 | 472 | 4,234 |
| 0 | 956 | 1,687 | 1,831 | 1,052 | |
| 67 | 1,307 | 2,040 | 1,647 | 2,104 | |
| Total Liabilities | 173 | 2,080 | 2,481 | 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 | 844 | 1,172 | 3,413 | |
| Total Assets | 173 | 2,080 | 2,481 | 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% | -22% | 256% | 233% |
Ratios
Consolidated Figures in Rs. Crores / 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 | 227 |
| ROCE % | -15% | -172% | -3% | 4% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | |
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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)-Resignation of Director
- Sandeep Singhal resigned as Non-Executive Nominee Director effective close of August 19, 2026.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
- Physicswallah Limited has informed regarding Transcript of Earnings Conference Call Q1FY27.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
- Physicswallah Limited has informed regarding newspaper publication of Financial Results for the quarter ended June 30, 2026.
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Announcement under Regulation 30 (LODR)-Monitoring Agency Report
- CARE issued Q1 FY27 monitoring report; no deviation, but Rs192 crore tax demand appeal remains pending.
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Announcement under Regulation 30 (LODR)-Acquisition
- On August 14, 2026, Physicswallah approved acquiring remaining 10% of BIGPL, making it wholly owned.
Concalls
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Aug 2026TranscriptPPT
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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.