Physicswallah Limited
₹129.15-₹3.35 (-2.5%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹36,744 Cr
- EV / EBITDA
- -45.2x
- Revenue
- ₹2,334 Cr
- Net margin
- -69.7%
- ROCE
- -57.3%
Price chart
Technical chartScreen technicals →-16.8% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- +4.4%
- 3M
- +3.2%
- 6M
- +19.0%
- 1Y
- -16.8%
- 5Y
- -4.2%
52-week range
Day change -₹3.35 (-2.5%) from ₹133 to ₹129 · Last close Oct 30, 2026
AI Summary
Indian StockStrengths1
- Healthy return on equity of 124.5%
Concerns1
- Negative free cash flow (₹1044 Cr)
Rule-based from financial data. Not advice.
About the company
Physicswallah Limited offers test preparation courses and study materials.
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Physicswallah Limited offers test preparation courses and study materials. The company's test preparation courses, including joint entrance exam, national eligibility cum entrance test, and foundation; other-test preparation courses for other competitive entrance examinations for undergraduate and post-graduate studies, public administration jobs, and professional qualifications; and upskilling courses for students and professionals. It offers its courses through online channels, which includes its social media channels, website, and apps; hybrid centers, its two-teacher model where a student attends a live online classes at a physical center and can benefit from another faculty that is present at the center to resolve questions and participate in revision classes; offline centers where its faculty conducts live classes in a physical center. It also offers hospitality services. The company was incorporated in 2020 and is based in Noida, India.
- Sector
- Education
- Shares outstanding
- 287 Cr shares
- ISIN
- INE0LP301011
- BSE code
- 544609
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹36,744 Cr
- EV / EBITDA
- -45.2x
- EV / Sales
- 25.4x
- P/S
- 23.9x
- 52-week high
- ₹155.20
- 52-week low
- ₹79.63
Profitability
- Operating margin
- -57.0%
- Net margin
- -69.7%
- EBITDA margin
- -56.1%
- ROE
- 124.5%
- ROCE
- -57.3%
- ROA
- -45.2%
- Dividend payout
- 0.0%
- Tax rate
- -5.0%
- Other income, % of PBT
- -1.3%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹2,334 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 52.0%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹861 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -4631.6%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -87.3%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹295 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 10.5%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹3.00 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 27.8%
Solvency and efficiency
- Current ratio
- 1.71
- Debt / Assets
- 1.01
- Debt / EBITDA
- -2.77
- Financial leverage
- -2.75
- CFO / Net profit
- -0.28
- Cash / Market cap
- 2.5%
- Cash per share
- ₹3.19
- Asset turnover
- 0.65
- Fixed asset turnover
- 1.64
- Capital intensity
- 0.61
- Debtor days
- 4 days
- Cash conversion cycle
- 4 days
Where the revenue went
FY2025 ended in a loss, so the lines are listed rather than drawn as a flow.
| Line | FY2025 |
|---|---|
| Sales | ₹2,334 Cr |
| Expenses | ₹2,261 Cr |
| Operating profit | ₹73 Cr |
| Other income | ₹120 Cr |
| Interest | ₹77 Cr |
| Depreciation | ₹267 Cr |
| Profit before tax | -₹150 Cr |
| Tax and other | -₹14 Cr |
| Net profit | -₹136 Cr |
Revenue and net profit
Revenue grew 52.0% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2022 | ₹232 Cr | ₹98 Cr |
| FY2023 | ₹735 Cr | -₹77 Cr |
| FY2024 | ₹1,536 Cr | -₹1,071 Cr |
| FY2025 | ₹2,334 Cr | -₹136 Cr |
Cash flows
FY2025: ₹471 Cr from operations, -₹1,044 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹45 Cr | ₹41 Cr |
| FY2022 | ₹57 Cr | -₹1 Cr |
| FY2023 | ₹267 Cr | -₹825 Cr |
| FY2024 | ₹295 Cr | ₹145 Cr |
| FY2025 | ₹471 Cr | -₹1,044 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹2,334 Cr+52.0%1Y
- Net profit
- -₹136 Cr
- Cash from operations
- ₹471 Cr
- Free cash flow
- -₹1,044 Cr-820.0%1Y
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹2,334 Cr | ₹73 Cr | — | -₹136 Cr | ₹471 Cr | -₹1,044 Cr | -12.0% | +52.0% | -87.3% |
Monthly returns
Month-by-month returns of PWL across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹4,188 Cr |
| Equity capital | ₹218 Cr |
| Reserves | ₹920 Cr |
| Borrowings | ₹1,747 Cr |
| Other liabilities | ₹1,302 Cr |
| Assets | ₹4,188 Cr |
| Fixed assets | ₹1,121 Cr |
| Capital work in progress | ₹9 Cr |
| Investments | ₹1,828 Cr |
| Other assets | ₹1,229 Cr |
Market cap against peers
2 peers: same sector group, nearest by size.
P/E against peers
PWL has no positive P/E; the peer median is 38.2x.
Not shown (no positive earnings and no EV / Sales): Physicswallah Limited.
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| Physicswallah LimitedPWLthis company | ₹36,744 Cr | — | — | 124.5% | -45.2x |
| NIIT Learning Systems LimitedNIITMTS | ₹5,719 Cr | 45.2x | 7.6x | 17.5% | 39.1x |
| CRIZAC LIMITEDCRIZAC | ₹4,522 Cr | 31.2x | 7.3x | 46.0% | 16.6x |
| Peer median | — | 38.2x | 7.5x | 46.0% | 27.9x |
Year-to-date ROI
PWL since 1 January, against earlier years.
Historical volatility
PWL's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2022 | 57.0% |
| FY2023 | -1.0% |
| FY2024 | -57.0% |
| FY2025 | 3.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹2,334 Cr |
| Costs | |
| Interest | ₹77 Cr |
| Expenses | ₹2,261 Cr |
| Operating profitOperating Profit | ₹73 Cr |
| Other income and charges | |
| Profit before tax | -₹150 Cr |
| Tax | |
| Net profitNet Profit | -₹136 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹4,188 Cr |
| Equity capitalEquity Capital | ₹218 Cr |
| Reserves | ₹920 Cr |
| Borrowings | ₹1,747 Cr |
| Other liabilitiesOther Liabilities | ₹1,302 Cr |
| AssetsTotal Assets | ₹4,188 Cr |
| Fixed assetsFixed Assets | ₹1,121 Cr |
| Capital work in progressCWIP | ₹9 Cr |
| Investments | ₹1,828 Cr |
| Other assetsOther Assets | ₹1,229 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹471 Cr |
| Investing cash flowCash from Investing Activity | -₹1,515 Cr |
| Financing cash flowCash from Financing Activity | ₹1,039 Cr |
| Change in cashNet Cash Flow | -₹6 Cr |
Learn while you research
Academy chapters picked for Physicswallah Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Growth Investing52% revenue growth is in the top tier, learn how to value growth.7 min read
- 04 Sectors & IndustriesHow to classify and compare companies across sectors.6 min read
- 05 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read
- 06 How to Read a Cash-Flow StatementProfit can be manipulated; cash flow rarely lies.7 min read