Physicswallah Ltd.

•

pw.liveBSE: 544609NSE: PWL

Market Cap₹ 39,523 Cr.

Current Price

High / Low₹ 162 / 78

Stock P/E1938.8

Book Value₹ 15

Price to Book5.95

Dividend Yield0.00 %

ROCE3.7 %

ROE-1.0 %

Face Value₹ 1

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ABOUT

AI Sector View

AI GENERATED

Consumer Services

Buy

Consumer services have a mixed operating backdrop but strong market sponsorship. Foreign tourist arrivals in India rose 6.0% YoY (2026-06), export of services grew 13.0% YoY (2026-06), and headline tourist arrivals were 584000 (Jun/26), though airport passenger traffic was -2.0% YoY (2026-06). Strong FPI inflow of INR 19847 crore over 3 months to 2026-08-31 supports a Buy stance despite some travel softness.

Confidence

73%

View full sector analysis →

PROS

Company is almost debt free
Operating margins have improved to 9.5% from 1.9%

CONS

Company is loss-making at the operating / net level
A large part of profit comes from other income (2333.7% of PBT)
Company has a low return on capital employed of -66.5%
Receivables are growing faster than sales - a possible quality concern
Company has a low return on equity of -0.3% over last 3 years
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.11x)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Consumer ServicesEducation & TrainingEducational Institutions

Part ofNIFTY TOTAL MKT NIFTY 500 NIFTY SMLCAP 250

S.No.	Name
1.	PWL	136.05	1938.81	39522.65	0.00	-882.80	-595.06	10539.50	1144.20	3.69	-5.41
2.	CRIZAC	186.75	14.82	3267.80	4.28	46.17	0.77	201.21	-3.97	52.73	30.40
3.	SEIL	192.75	533.94	3103.28	0.00	2.82	-2.76	16.30	7.51	10.42	26.28
4.	VERANDA	225.30	15.07	2174.29	0.00	33.87	467.88	149.54	7.37	22.75	35.96
5.	JARO	454.35	26.64	1011.86	1.10	11.17	48.33	70.75	16.60	25.32	21.43
6.	GLOBAL	126.91	24.78	645.99	0.79	3.75	-11.05	14.21	-4.15	29.17	41.68
7.	CPEDU	177.45	13.53	322.83	1.41	8.08	12.54	14.35	-1.17	46.88	64.15
8.	CLEDUCATE	59.30	0.00	321.96	0.00	-1.67	55.01	127.51	-12.47	2.03	13.62
9.	CPCAP	136.05	5.49	247.51	0.00	13.31	23.50	21.95	47.39	9.83	93.11
10.	TREEHOUSE	5.95	0.00	25.17	0.00	-2.13	-233.00	1.15	-20.14	-6.84	-212.70

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	832	810	610	847	1,051	1,082	919	1,054
	698	626	838	1,054	870	846	890	1,247
Operating Profit	134	184	-229	-207	181	236	29	-193
OPM %	16.11%	22.70%	-37.49%	-24.45%	17.23%	21.84%	3.13%	-18.32%
	31	40	25	55	47	41	36	109
Interest	13	19	28	33	25	21	23	26
Depreciation	89	93	98	98	105	113	122	111
Profit before Tax	62	111	-330	-152	99	144	-81	-84
Tax %	34.08%	30.85%	12.26%	16.46%	29.49%	28.84%	14.17%	-4.70%
Net Profit	0	0	0	-127	70	102	-69	-88
	0.18	0.37	-1.17	-0.46	0.28	0.37	-0.26	-0.27

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	744	1,941	2,887	3,900	4,106
	759	2,916	2,813	3,530	3,853
Operating Profit	-14	-975	74	370	253
OPM %	-1.93%	-50.25%	2.55%	9.49%	6.17%
	28	146	120	179	233
Interest	21	65	85	102	94
Depreciation	83	298	366	437	450
Profit before Tax	-89	-1,193	-259	10	77
Tax %	6.00%	5.16%	5.91%	343.65%	81.48%
Net Profit	-84	-1,131	-243	-24	14
EPS	-0.38	-173.41	-0.99	-0.08	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 74%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 0%
Last Year:: -1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	6	6	218	286
Minority Interest	132	74	29	50
	-257	-1,434	269	3,917
	1,648	2,599	1,149	1,208
Trade Payables	52	129	187	249
	495	1,042	2,224	1,923
Total Liabilities	2,076	2,416	4,077	7,632
	1,121	1,464	1,586	1,830
Capital Work in Progress	5	0	7	5
	205	173	1,401	2,426
	23	53	77	102
	0	27	42	82
Cash & Bank	530	79	175	1,126
	193	620	790	2,061
Total Assets	2,076	2,416	4,077	7,632

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	296	212	507	833
Cash from Investing	-1,076	-43	-1,513	-3,282
Cash from Financing	848	-165	1,007	2,755
	42	4	1	306

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Nov 2025	Dec 2025	Mar 2026	Jun 2026
	72.30	72.30	72.30	71.27
	11.90	12.40	11.56	12.01
	12.83	12.75	13.46	13.12
Government	0.00	0.00	0.00	0.00
	2.98	2.56	2.68	3.60

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10

ESOP/ESOS/ESPS

2026-09-10 - Physicswallah Limited has informed the exchange regarding allotment of equity shares pursuant to exercise of stock options.

2026-09-09

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-09 - Physicswallah Limited has informed the exchange regarding Schedule of Analyst/Investor Meet.

2026-09-08

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-08 - Physicswallah Limited has informed the Exchange regarding Schedule of Analysts and Investor Meet.

2026-09-02

Copy of Newspaper Publication

2026-09-02 - Physicswallah Limited has informed informed the exchange regarding Newspaper Publication of information pertaining to the 06th AGM of the Company (Post-Dispatch).

2026-09-01

General Updates

2026-09-01 - Physicswallah Limited has informed the Exchange regarding letter to Shareholders providing Web-Link

2026-09-01

Shareholders meeting

2026-09-01 - Physicswallah Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 25, 2026

2026-08-28

Copy of Newspaper Publication

2026-08-28 - Physicswallah Limited has informed the Exchange regarding newspaper publication of information pertaining to the 06th AGM of the Company (Pre-Dispatch).

2026-08-20

Resignation of Director/KMP/SMP

2026-08-20 - Physicswallah Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-20

Resignation

2026-08-20 - Physicswallah Limited has informed the Exchange regarding Resignation of Non- Executive Nominee Director of the company w.e.f. August 19, 2026.

News

Recent coverage and analyst commentary for PWL

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Physicswallah Ltd.

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Name

PWL

136.05

1938.81

39522.65

0.00

-882.80

-595.06

10539.50

1144.20

3.69

-5.41

CRIZAC

186.75

14.82

3267.80

4.28

46.17

0.77

201.21

-3.97

52.73

30.40

SEIL

192.75

533.94

3103.28

0.00

2.82

-2.76

16.30

7.51

10.42

26.28

VERANDA

225.30

15.07

2174.29

0.00

33.87

467.88

149.54

7.37

22.75

35.96

JARO

454.35

26.64

1011.86

1.10

11.17

48.33

70.75

16.60

25.32

21.43

GLOBAL

126.91

24.78

645.99

0.79

3.75

-11.05

14.21

-4.15

29.17

41.68

CPEDU

177.45

13.53

322.83

1.41

8.08

12.54

14.35

-1.17

46.88

64.15

CLEDUCATE

59.30

0.00

321.96

0.00

-1.67

55.01

127.51

-12.47

2.03

13.62

CPCAP

136.05

5.49

247.51

0.00

13.31

23.50

21.95

47.39

9.83

93.11

TREEHOUSE

5.95

0.00

25.17

0.00

-2.13

-233.00

1.15

-20.14

-6.84

-212.70

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

832

810

610

847

1,051

1,082

919

1,054

698

626

838

1,054

870

846

890

1,247

Operating Profit

134

184

-229

-207

181

236

-193

OPM %

16.11%

22.70%

-37.49%

-24.45%

17.23%

21.84%

3.13%

-18.32%

109

Interest

Depreciation

105

113

122

111

Profit before Tax

111

-330

-152

144

-81

-84

Tax %

34.08%

30.85%

12.26%

16.46%

29.49%

28.84%

14.17%

-4.70%

Net Profit

-127

102

-69

-88

0.18

0.37

-1.17

-0.46

0.28

0.37

-0.26

-0.27

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

744

1,941

2,887

3,900

4,106

759

2,916

2,813

3,530

3,853

Operating Profit

-14

-975

370

253

OPM %

-1.93%

-50.25%

2.55%

9.49%

6.17%

146

120

179

233

Interest

102

Depreciation

298

366

437

450

Profit before Tax

-89

-1,193

-259

Tax %

6.00%

5.16%

5.91%

343.65%

81.48%

Net Profit

-84

-1,131

-243

-24

EPS

-0.38

-173.41

-0.99

-0.08

—

Dividend Payout %

0.00%

—

Mar 2023

Mar 2024

Mar 2025

Mar 2026

218

286

Minority Interest

132

-257

-1,434

269

3,917

1,648

2,599

1,149

1,208

Trade Payables

129

187

249

495

1,042

2,224

1,923

Total Liabilities

2,076

2,416

4,077

7,632

1,121

1,464

1,586

1,830

Capital Work in Progress

205

173

1,401

2,426

102

Cash & Bank

530

175

1,126

193

620

790

2,061

Total Assets

2,076

2,416

4,077

7,632

Mar 2023

Mar 2024

Mar 2025

Mar 2026

296

212

507

833

Cash from Investing

-1,076

-43

-1,513

-3,282

Cash from Financing

848

-165

1,007

2,755

306

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Nov 2025

Dec 2025

Mar 2026

Jun 2026

72.30

71.27

11.90

12.40

11.56

12.01

12.83

12.75

13.46

13.12

Government

0.00

2.98

2.56

2.68

3.60

Physicswallah Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Physicswallah Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI