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Physicswallah (PWL) had a P/E of 448.3× on 6 Nov 2026, above the industry P/E of 18.4×, and the shares are 20% below their 52-week high. Sales grew 74% a year over 3 years, with ROCE of 1.6% and ROE of 2.9%. Debt is 0.21× equity. It is a mid-cap company with a market cap of ₹37,813 Cr, the largest of 31 Education & Training Services companies by market cap; the shares fell 16% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year
Open
₹132.20
Day high
₹132.20
Day low
₹128.40
Prev. close
₹132.20
Volume
39.9 L

Health check

2 good · 4 to check
  • ReturnsAhead

    −16.3% over a year, better than 5 of 7 peers.

  • Price tagPricier

    P/E 448.3 vs industry 18.4.

  • GrowthStrong

    Sales +73.6% a year over 3 years.

  • ProfitabilityWeak

    ROCE 1.6% vs peer median 18.1%.

  • Balance sheetStretched

    Debt 0.21× equity, interest covered 1.1×, Piotroski 7 of 9.

  • Red flags2 to check

    Return on equity is low at 2.9%.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Education & Training Services

30 listed peers. Screen the industry

Mid cap

₹37,813 Cr, the largest of 31 in its industry.

Market sensitivity

Measuring against the NIFTY 50…

Key metrics

Last 12 months to Sep 2026: sales ₹4,294 Cr · profit ₹94 Cr
Market cap
₹37,813 Cr
Mid cap
P/E
448.3
Industry 18.4
Price to book
8.24
Peers 2.05
Dividend yield
0.00%
ROE
2.9%
Peers 16.6%
ROCE
1.6%
Peers 18.1%
Debt to equity
0.21
Debt ₹1,000 Cr
EPS (TTM)
₹0.29
Face value ₹1
OPM (TTM)
12.2%
Net margin 2.2%
Sales growth
+18.2%
Latest quarter vs a year ago
Profit growth
+101.3%
Latest quarter vs a year ago
Price to sales
8.81
EV/EBITDA 118.9

Strengths and risks

Strengths

  • Quarterly profit up 101.3% on a year ago.
  • Quarterly sales up 18.2% on a year ago.
  • Positive operating cash flow in each of the last 4 years.

Risks to check

  • Return on equity is low at 2.9%.
  • P/E of 448.3 against an industry P/E of 18.4.

Derived automatically from reported figures. Not a recommendation.

About Physicswallah

Physicswallah Limited offers online and offline coaching and study material for test preparation of various competitive exams in India. It offers various courses for competitive exams, including IIT JEE, NEET, ESE, GATE, AE/JE, Olympiad, UPSC, and state PSC; government exams, such as judiciary, SSC, defence, teaching, JAIIB and CAIIB, railway, nursing, banking; undergraduate and postgraduate entrance exams that includes MBA, IPMAT, IIT JAM, law, CUET UG,…

Headquarters
Noida
Employees
16,289
Sector
Consumer Defensive
ISIN
INE0LP301011
Website
pw.live

Price range

52 weeks

₹77.72₹161.99

Today

₹128.40₹132.20
Avg volume (3M)
1.3 Cr
1-year return
minus 16.3%
From 52-week high
minus 19.7%

Analyst consensus

10 analysts
BuyMean target ₹147.70 plus 13.6%

Target range, with today’s price

Low ₹110.00High ₹200.00

Consensus from Yahoo Finance. Not a recommendation.

Peers · Education & Training Services

Compare with peersScreen the whole industry
Company
PWLPhysicswallah130.00minus 1.66%37,813448.38.241.6%−0.9%10.7%73.6%–0.00%minus 16.3%
SEILShanti Educational Initiatives178.12plus 6.61%2,868494.837.4310.4%8.0%23.8%71.6%20.5%0.00%minus 13.4%
CRIZACCrizac157.13minus 2.40%2,75013.24.1147.7%32.5%34.0%30.1%25.0%5.09%minus 48.7%
NIITMTSNIIT Learning Systems169.14minus 0.15%2,3379.61.4317.4%16.6%17.9%12.7%8.8%1.92%minus 47.1%
NIITLTDNIIT70.74minus 1.20%969181.40.911.2%0.7%−1.2%4.6%18.5%1.41%minus 30.6%
JAROJaro Institute of Technology Management and Research339.85minus 0.92%75712.92.0518.9%19.9%23.0%30.9%65.6%1.75%minus 44.8%
GLOBALGlobal Education143.68minus 0.55%73128.15.4126.8%20.9%40.8%14.8%5.5%0.70%plus 103.5%
APTECHTAptech82.23minus 0.56%47719.51.92–9.8%6.4%––5.43%minus 23.5%
Median of 7 peers–−0.56%96919.52.0518.1%16.6%23.0%22.5%19.5%1.75%−30.6%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrSep 25Dec 25Mar 26Jun 26Sep 26
1,0511,0829191,0541,242
8698398931,067976
18224425.6−12.7266
17.3%22.5%2.8%−1.2%21.4%
47.264.735.810972.3
24.820.723.325.526
105113122111113
−0.6−30.73.2−44.39.5
98.9144−80.6−84.3209
29.5%28.8%14.2%−4.6%32.0%
72.3101−74.9−77.6146
0.250.36-0.26-0.270.48

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
+73.6%
ROE
2.9%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
7411,9332,8743,877
–+160.9%+48.7%+34.9%
7352,0902,6743,495
6.3−157200382
0.9%−8.1%7.0%9.9%
69−43486
20.664.175.185.8
75.1298366437
−69−669−51.165
−89.4−1,193−2599.9
6.0%5.2%5.9%343.6%
−81.4−1,040−216−22.5
-0.28-3.64-0.75-0.08

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
661,053286
−189−1,252−3634,234
5708479971,052
1,6952,8812,4702,104
2,0822,4814,1567,677
6581,0181,2241,382
19.41320.69.5
0.612799.7191
7425311,9275,045
6627928841,049
2,0822,4814,1567,677

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
270212507833
−1,076−42.9−1,513−3,283
848−1651,0072,755
42.14.40.6306
−146−236−172−343
124−24.5335490

Shareholding pattern

Source: NSE filings
71.2%
promoters
  • Promoters71.17%
  • Public28.83%
  • As of 30 Sep 2026
QuarterSplitPromotersPublicPromoter change
30 Sep 202671.17%28.83%minus 0.10
30 Jun 202671.27%28.73%minus 1.03
31 Mar 202672.30%27.70%0.00
31 Dec 202572.30%27.70%0.00
17 Nov 202572.30%27.70%–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you