Physicswallah

NSE: PWL · E-Learning

52W Range₹78 ₹162

Snapshot

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Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

PhysicsWallah is an Indian edtech company providing affordable test preparation and upskilling courses across online, offline, and hybrid formats. It serves students across 13 categories, including competitive exams like JEE, NEET, and UPSC, alongside professional domains such as data science and software development.

Business Model

The company generates revenue through the sale of educational courses and content delivered via its digital platform and physical learning centres. Its model focuses on high-volume, affordable pricing to capture a broad student base across India.

Growth Outlook

Growth is driven by the expansion of its hybrid learning centre network and the diversification of its portfolio into new-age professional upskilling domains. The company continues to scale its presence in both competitive exam preparation and career-oriented training.

  • Education Categories:13

Key Risks

  • Market Competition. The Indian edtech sector is highly competitive, with numerous players vying for market share through aggressive pricing and marketing.
  • Regulatory Environment. Changes in government regulations regarding online education and coaching centres could impact operational costs and business models.
  • Customer Acquisition Costs. Rising costs to acquire new students in a saturated digital market may pressure profit margins.
  • Technological Disruption. Rapid advancements in AI and alternative learning platforms could render existing course content or delivery methods obsolete.

Price

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Peers · E-Learning

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
PhysicswallahPWL
25,0539.0%
MPS LimitedMPSLTD
2,59320.1713.625.7%33.0%34.1%40.2%-28.7%
Veranda LearningVERANDA
1,36917.3411.689.4%40.7%30.0%17.0%-12.3%
Jaro InstituteJARO
1,04319.8712.2530.4%14.7%18.9%

As of Mar 2026

Financials