Physicswallah Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹38,439 Cr
- P/E
- 629.00
- ROE
- -0.63%
- PEG
- 27.92
- Price to sales
- 9.37
- Debt to equity
- 0.51
- 52W high / low
- ₹155 / ₹79.6
- EBITDA margin
- 9.48%
- Net profit margin
- -0.38%
- Promoter holding
- 71.27%
- Sales (last year)
- ₹4,106 Cr
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]
Guidance scorecard · Q1 FY27 call
What Physicswallah Ltd's management guided
and where it ranks in Other Consumer Services
Other Consumer Services
RevenueQ1 FY27 call
20–40%- Physicswallah Limited aims for a 30% revenue growth for FY27, maintaining prior guidance despite NEET exam cycle shifts.
- Online revenue growth was 33% driven by diversification into new categories such as K-12 and skilling courses.
- Offline revenue grew 14%, with expectations to improve as NEET enrollments normalize in upcoming quarters.
- K-12 and vernacular categories show strong hyper-growth with enrollments up 41%-70% and revenue doubling in state boards.
- NEET PG and competitive exam categories like CA, CS, ACCA expect 30%-50% enrollment growth and 100% collections growth in skilling segments.
- New initiatives including AI-powered digital books, AI tutors, and platforms like PW Books, "Earners," Pi, and PW Talk are expected to contribute to future revenue.
2 more points from Physicswallah Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Physicswallah Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Focus on capital allocation towards new online content and category expansion, both organically and inorganically.
- Opportunistic and limited offline expansion based on geographies fitting cohort economics; decisions on new centers expected in next two quarters.
- Keen interest in AI-first opportunities to complement offerings, including investment in personalized AI tutors (beta phase) and AI-driven digital initiatives like AI tutor, AI companion, and Ask AI doubt-solving engine.
2 more points from Physicswallah Ltd's call on capex
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FundraisingQ1 FY27 call
See what Physicswallah Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Ask what Physicswallah Ltd said on the order book →
Full Q1 FY27 analysisRanges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Other Consumer Services
on management's own guidance
- 2
- Mach Travel SolutionsGood growth1
- Vinsys IT Serv.Good growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Other Consumer Services companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | Mach Travel Solutions | 20–40% | Up 0–2% | ₹459 Cr | 22.7 |
| 2 | Physicswallah LtdThis stock | 20–40% | Flat | ₹38,872 Cr | 636.1 |
| 3 | Vinsys IT Serv. | 20–40% | Flat | ₹869 Cr | 29.2 |
| 4 | 20–40% | Flat | ₹312 Cr | — | |
| 5 | 20–40% | Flat | ₹277 Cr | 25.0 | |
| 6 | 20–40% | Flat | ₹65 Cr | 18.5 |
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Pro shows every company guiding 40%+ revenue growth →Full Other Consumer Services rankingFinancials of Physicswallah Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Physicswallah Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales + | 832 | 810 | 610 | 847 | 1,051 | 1,082 | 919 |
| Expenses + | 698 | 626 | 838 | 923 | 870 | 846 | 890 |
| Operating Profit | 134 | 184 | -229 | -76 | 181 | 236 | 29 |
| OPM % | 16% | 23% | -38% | -9% | 17% | 22% | 3% |
| Other Income + | 31 | 40 | 25 | 55 | 47 | 41 | 36 |
| Interest | 13 | 19 | 28 | 33 | 25 | 21 | 23 |
| Depreciation | 89 | 93 | 98 | 98 | 105 | 113 | 122 |
| Profit before tax | 62 | 111 | -330 | -152 | 99 | 144 | -81 |
| Tax % | 34% | 31% | -12% | -16% | 29% | 29% | -14% |
| Net Profit + | 41 | 77 | -289 | -127 | 70 | 102 | -69 |
| EPS in Rs | 7.42 | 15.11 | -1.34 | -0.55 | 0.33 | 0.35 | -0.26 |
Financials of Physicswallah Ltd
Profit & Loss
Annual income statement trend
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Sales + | 233 | 744 | 1,941 | 2,887 | 3,900 |
| Expenses + | 99 | 766 | 2,098 | 2,688 | 3,530 |
| Operating Profit | 134 | -22 | -157 | 199 | 370 |
| OPM % | 57% | -3% | -8% | 7% | 9% |
| Other Income + | 2 | 28 | -672 | -6 | 179 |
| Interest | 0 | 21 | 65 | 85 | 102 |
| Depreciation | 4 | 75 | 298 | 366 | 437 |
| Profit before tax | 132 | -89 | -1,193 | -259 | 10 |
| Tax % | 25% | -6% | -5% | -6% | 344% |
| Net Profit + | 98 | -84 | -1,131 | -243 | -24 |
| EPS in Rs | 16.37 | -13.57 | -173.40 | -0.99 | -0.08 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
Financials of Physicswallah Ltd
Balance Sheet
Capital structure and asset base
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 6 | 218 | 286 |
| Reserves | 100 | -189 | -1,252 | 472 | 4,234 |
| Borrowings + | 0 | 956 | 2,461 | 1,831 | 1,052 |
| Other Liabilities + | 67 | 1,307 | 1,270 | 1,647 | 2,104 |
| Total Liabilities | 173 | 2,080 | 2,485 | 4,168 | 7,677 |
| Fixed Assets + | 27 | 1,121 | 1,464 | 1,586 | 1,833 |
| CWIP | 6 | 5 | 0 | 9 | 5 |
| Investments | 24 | 205 | 173 | 1,401 | 2,426 |
| Other Assets + | 116 | 748 | 848 | 1,172 | 3,413 |
| Total Assets | 173 | 2,080 | 2,485 | 4,168 | 7,677 |
Financials of Physicswallah Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Cash from Operating Activity + | 59 | 270 | 212 | 507 | |
| Cash from Investing Activity + | -58 | -1,076 | -43 | -1,513 | |
| Cash from Financing Activity + | 0 | 848 | -165 | 1,007 | |
| Net Cash Flow | 1 | 42 | 4 | 0 | |
| Free Cash Flow | 37 | 124 | 1 | 340 | |
| CFO/OP | 69% | -1,354% | -139% | 256% |
Financials of Physicswallah Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 0 | 6 | 5 | 5 | 8 |
| Inventory Days | 174 | ||||
| Days Payable | 398 | ||||
| Cash Conversion Cycle | 0 | -217 | 5 | 5 | 8 |
| Working Capital Days | -82 | -214 | -111 | -88 | 227 |
| ROCE % | -15% | -37% | -2% | 4% |
Guidance history
How Physicswallah Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Flat | Planned | — | — |
| Q4 FY26 call → | 20–40% | Up 2%+ | None planned | — | Rising |
| Q3 FY26 call → | 20–40% | Flat | Planned | Planned | — |
| Q2 FY26 call → | 20–40% | Up 2%+ | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Continue your research
What Physicswallah Ltd's management said in earlier quarters
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