# Physicswallah share price today (Physicswallah Ltd, NSE: PWL)

> Physicswallah share price today: ₹128.64 at the NSE close on 3 November 2026, down 4.2% in a year. Physicswallah (NSE: PWL) is worth ₹37,414 crore, trades at a P/E of 612.3 and has closed between ₹79.56 and ₹151.38 over the past 52 weeks. > Physicswallah Ltd's results are improving, while its P/E is near the low end of its own history over 5 months, higher than only 27% of past readings. PWL · Platform - Education · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/physicswallah-ltd

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## Key numbers

- Price: ₹128.64 (−4.2% in a year)
- P/E: 612.3× (lower than 73% of the last 5 months)
- Revenue (Jun 2026): ₹1,054 Cr (+24.4% on a year ago)
- Profit (Jun 2026): −₹88.0 Cr
- Operating margin: −5.0% (+4.0 points on a year ago)
- ROCE: 4%, FY26

Biggest thing to watch: the price has already been rising for 14 weeks, so timing is the risk more than the business. ## What is the Physicswallah share price today? Physicswallah Ltd's share price was ₹128.64 at the close on 3 November 2026. It has been rising for 14 weeks. That is 2.5% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹80 and ₹151, and at that close it sat 68% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 5 weeks in a row. Over the last 1 year the share price moved −4% while the NIFTY 500 moved −9%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Physicswallah this quarter? Three changes stood out: revenue up on a year earlier for 4 quarters in a row (every quarter we can compare), profit up on a year earlier for 4 quarters in a row (every quarter we can compare) and operating margin up 4 points on a year earlier. 1. Revenue up on a year earlier for 4 quarters in a row (every quarter we can compare) In the June 2026 quarter revenue was ₹1,054 crore, +24.4% on a year earlier. Why: Revenue rose because newer online courses grew fast, with K-12 online revenue nearly doubling from a year earlier. Next results: check whether the delayed NEET enrollments and government exam timing show up in first-half revenue. From the earnings call on 14 Aug 2026. 2. Profit up on a year earlier for 4 quarters in a row (every quarter we can compare) In the June 2026 quarter profit was ₹-88 crore, +30.7% on a year earlier. Why: The loss shrank because staff costs fell and marketing and distribution costs grew slower than revenue. Next results: check whether the offline business gets closer to breaking even, since management now aims for near profitability rather than full profit. From the earnings call on 14 Aug 2026. 3. Operating margin up 4 points on a year earlier -5% in the June 2026 quarter, from -9%. Why: The operating margin improved because staff costs fell and marketing and distribution costs grew slower than revenue. From the earnings call on 14 Aug 2026. ## What are Physicswallah's latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Physicswallah reported revenue of ₹1,054 crore, up 24.4% from ₹847 crore a year earlier, and a loss of ₹88.0 crore. ### Physicswallah results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹1,054 crore | ₹847 crore | +24.4% |
| Profit | loss of ₹88.0 crore | loss of ₹127 crore | n/a |
| Earnings per share | ₹−0.27 | ₹−0.55 | n/a |
| Operating margin | −5.0% | −9.0% | +4.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Physicswallah's management discussed these results on a call held on 14 August 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Physicswallah share price history? Physicswallah closed at ₹128.64 on 3 November 2026, down 4.2% from ₹134.31 a year earlier (21 November 2025). Its highest weekly close since November 2025 was ₹147.43 on 10 July 2026. ### Physicswallah share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹119.95 | +7.2% |
| 1 month ago · 1 Oct 2026 | ₹120.17 | +7.0% |
| 6 months ago · 30 Apr 2026 | ₹108.58 | +18.5% |
| 1 year ago · 21 Nov 2025 | ₹134.31 | −4.2% |
| Earliest weekly close in our records · 21 Nov 2025 | ₹134.31 | −4.2% |
| Highest weekly close since November 2025 · 10 Jul 2026 | ₹147.43 | −12.7% |
| Lowest weekly close since November 2025 · 6 Mar 2026 | ₹82.99 | +55.0% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (55 weekly closes from 21 November 2025 to 3 November 2026.)

## What is the latest news on Physicswallah? 3 Nov 2026: Physicswallah closed at ₹128.64, up 7.2% on the week and up 7.0% on the month. 14 Aug 2026: Physicswallah held its results call for April to June 2026. Management guided: FY27 revenue growth 30% and operating profit growth 100%. ### Earlier

- Results for April to June 2026: Revenue up 24.4% on a year earlier. ## What dividend does Physicswallah pay? Physicswallah has paid no dividend on the NSE since its first NSE close in our records (21 November 2025), the start of the period we checked. No. Physicswallah Ltd paid out 0% of its profit as dividends in each of its last 5 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Physicswallah management say on the latest results call? On the call for April to June 2026, held on 14 August 2026, Physicswallah's management guided: FY27 revenue growth 30% and operating profit growth 100%. > “No, we do not want to introduce star teachers in offline. We produce our own teachers through our faculty training program, and the batch size is only 80 students.”
> Alakh Pandey, on the call for April to June 2026

### What management guided

- Offline business to reach near profitability this year; slower expansion and focused execution support the goal. - Offline steady-state profitability at 13-15%; ARPU and stronger outcomes are the stated levers. - Curious Junior online business to reach break-even this year. - AI tutor to roll out to students by next quarter after beta. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/59318/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 14 August 2026.)

## What to watch in Physicswallah's next results? When Physicswallah reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: FY27 revenue and operating profit delivery against the annual plan - check whether NEET and government-examination timing converts into H1 performance. - What to check (from the call)
- FY27 revenue and operating profit delivery against the annual plan - check whether NEET and government-examination timing converts into H1 performance. - Offline near-profitability trajectory - check ARPU, results, utilization and newer-category drag in the blended business. - AI Tutor rollout after beta - check student adoption, usage and monetization once released. - Finzy Fintech divestment - check customer-process completion and any subsequent capital-allocation disclosure. ## Which stock lists is Physicswallah on? Physicswallah is on 2 of our India lists: Momentum stocks and Small & mid cap stocks. - [Momentum stocks Market cap cr: 37632.4383285526](https://www.sectoralpha.in/momentum-stocks-india)
- [Small & mid cap stocks Size rank in India: 234](https://www.sectoralpha.in/small-cap-stocks-india)

## Is Physicswallah profitable? Physicswallah Ltd posted a net loss of ₹88.0 Cr in the Jun 2026 quarter. The full FY26 year was a loss of ₹24.0 Cr. That loss is 8.3% of the quarter's revenue. The same quarter a year earlier lost ₹127 Cr. 4 of the last 8 reported quarters were loss-making. ## How much revenue does Physicswallah make, and is it growing? Physicswallah Ltd reported ₹1,054 Cr of revenue in the Jun 2026 quarter, +24.4% on the same quarter a year earlier. That is the 4th quarter in a row with growth on the year before. Over 4 years it has grown 102.3% a year on average. The last full year, FY26, came in at ₹3,900 Cr. The last four reported quarters add to ₹4,106 Cr. FY26 revenue was ₹3,900 Cr, +35.1% on the year before. Recent pace: the last four quarters grew +33.8% on average, against 102.3% a year over the longer run, so this year is growing slower than its own long-run rate. ## How much of every ₹100 of sales does Physicswallah keep? Physicswallah Ltd's operating margin was −5.0% in the Jun 2026 quarter, 4.0 percentage points higher than the same quarter a year ago. Across 5 years it has been between −50.0% and 57.0%. The latest quarter is within that range. Why the margin moved: operating margin changed +3.6 percentage points on the year while gross margin changed −0.2 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales. ## Is Physicswallah's profit turning into cash? Physicswallah Ltd's cash-flow history is too short to judge how much of its profit turns into cash. In FY26 it brought in ₹833 Cr of operating cash against −₹24.0 Cr of profit. After ₹680 Cr of spending on assets, ₹153 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. What to look at next: the bigger use of cash is spending on new assets, at 1.6× depreciation over three years. The next section checks what that spending is building. ## Where does Physicswallah's cash go? Physicswallah Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 8 days in FY26, up from 0 days in FY22. It spent ₹1,813 Cr on assets over the last 3 years. At FY26 sales of ₹3,900 Cr, each day of that cycle ties up about ₹10.7 Cr, so roughly ₹85.0 Cr is tied up in the business at any time. Spending on assets: ₹1,813 Cr over the last 3 years, against ₹1,101 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹8.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Physicswallah's P/E ratio, and how does it compare with its own history? Physicswallah Ltd's P/E is 612.3×, near the low end of its own history: it has been lower only 27% of the time. Its usual P/E (the middle reading) is 1,496.0×, over 5 months of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹0.15. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. The PEG ratio, which only the second data source has, is not shown on this page: its two data sources disagree by up to 18% on reported income across 8 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Is the Physicswallah business getting better or worse? Physicswallah Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 4 quarters of 1 measure, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result. The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## How much does Physicswallah earn on its capital? Physicswallah Ltd earned a ROCE of 4% in FY26. That is up from a low of −172% in FY24. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a −0.6% net margin and 0.51× asset turnover (sales divided by assets). Why the return is what it is (FY26): a −0.6% net margin × 0.51× asset turnover × 2.08× leverage (assets divided by equity) ≈ −0.6% on equity. The margin does its share; borrowing is a big part of it. The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 18% on reported income across 8 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Does Physicswallah have too much debt? Physicswallah Ltd had ₹1,876 Cr of borrowings against ₹3,697 Cr of equity in FY26, so its debt is 0.51× its equity. Its operating profit is 4 times its interest bill. Over 4 years borrowings went from ₹0.0 Cr to ₹1,876 Cr. Over the last 3 of those years it spent ₹1,813 Cr on assets. Part of the spending on assets is being paid for with borrowed money. The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 18% on reported income across 8 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What is the Physicswallah shareholding pattern? No group of Physicswallah Ltd's owners changed its stake by a full percentage point over the last 4 quarters. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. ## How far is Physicswallah from balance-sheet trouble? For Physicswallah Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Physicswallah rank in its industry? 48.6 out of 100, rank 3 of 3 in Platform - Education, with 41% of the evidence available. It is provisional, so it is ranked below companies with full evidence. Physicswallah Ltd scores 48.6 out of 100 against the 3 companies it is compared with in Platform - Education, ranking 3. Some evidence is missing, so the score is pulled toward the middle on purpose. The three scored parts add up to the total exactly: 32.3 + 3.8 + 12.5 = 48.6 (no relative-strength reading this week; its 20 points are shared across the other three). This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Physicswallah compared with? Physicswallah ranks 3 of 3 Platform - Education companies on the 4-Factor Sector Score, with 48.6 out of 100. 1. [Crizac Ltd](https://www.sectoralpha.in/stocks/crizac-ltd) CRIZAC · quiet · Evidence leans up · 75% evidence 57.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.9/35 · Revenue 4.7% · Profit 10.7% · Operating margin change -4 points · 100% evidence Capital efficiency 22.0/25 · ROCE 52.3% · Operating margin 35% · 100% evidence Valuation 15.0/20 · P/E 11.6× · PEG 0.34 · 50% evidence Relative strength 7.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -32.3% · 1 year -54.8% · 25% evidence · 0 of 12 weeks ahead Exact sum: 12.9 + 22 + 15 + 7.5 = 57.4 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 2. [Jaro Institute of Technol. Mgt. and Research Ltd](https://www.sectoralpha.in/stocks/jaro-institute-of-technol-mgt-and-research-ltd) JARO · quiet · Evidence leans up · 61% evidence 55.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.1/35 · Revenue 12.7% · Profit 33.3% · Operating margin change -2 points · 88% evidence Capital efficiency 22.2/25 · ROCE 22.1% · Operating margin 21% · 100% evidence Valuation 10.0/20 · P/E 12.8× · PEG n/a · 0% evidence Relative strength 7.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -29% · 1 year -48.2% · 25% evidence · 0 of 12 weeks ahead Exact sum: 16.1 + 22.2 + 10 + 7.5 = 55.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. Physicswallah Ltd this page PWL · turning · Too little evidence to rank firmly · 41% evidence 48.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 32.3/43.75 · Revenue 32.5% · Profit 100% · Operating margin change 4 points · 62% evidence Capital efficiency 3.8/31.25 · ROCE 4% · Operating margin -5% · 76% evidence Valuation 12.5/25 · P/E 614× · PEG n/a · 0% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 32.3 + 3.8 + 12.5 = 48.6 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Platform - Education](https://www.sectoralpha.in/sectors/platform-education), all 3 compared on one page. ## Which companies are close to Physicswallah in size? Physicswallah is the largest of 3 Platform - Education companies on Sector Alpha by market value (scores of 30 October 2026). It is the largest. Just below it: Crizac and Jaro Institute of Technol. Mgt. and Research. ### Platform - Education companies close in size

1. Physicswallah Ltd ₹37,519 crore
2. [Crizac Ltd](https://www.sectoralpha.in/stocks/crizac-ltd) ₹2,425 crore
3. [Jaro Institute of Technol. Mgt. and Research Ltd](https://www.sectoralpha.in/stocks/jaro-institute-of-technol-mgt-and-research-ltd) ₹726 crore

[All 3 Platform - Education companies, largest first](https://www.sectoralpha.in/sectors/platform-education#all-companies)

### Companies close in size in other industries

1. [K P R Mill Ltd](https://www.sectoralpha.in/stocks/k-p-r-mill-ltd) ₹38,099 crore · Textiles - Spinning
2. [PTC Industries Ltd](https://www.sectoralpha.in/stocks/ptc-industries-ltd) ₹37,946 crore · Castings - Steel/Alloy
3. Physicswallah Ltd ₹37,519 crore
4. [Rail Vikas Nigam Ltd](https://www.sectoralpha.in/stocks/rail-vikas-nigam-ltd) ₹37,462 crore · Infra - Construction & Contracting
5. [Anand Rathi Wealth Ltd](https://www.sectoralpha.in/stocks/anand-rathi-wealth-ltd) ₹37,392 crore · Finance - Capital Markets - Wealth Management

## What else do people ask about Physicswallah? ### What is Physicswallah's share price today? Physicswallah Ltd's share price is ₹128.64, −4.2% over the past year. The whole company is worth ₹37,414 Cr on the market. In the last 52 weeks it traded between ₹80 to ₹151; today it is 68% of the way up from the low, 2.5% above its 200-day average (as of 3 November 2026). ### What were Physicswallah's latest quarterly results? Physicswallah Ltd reported revenue of ₹1,054 Cr and a net loss of ₹88.0 Cr for the Jun 2026 quarter. Earnings per share were −₹0.27. The operating margin was −5.0%, 4.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Physicswallah's market cap? Physicswallah Ltd's market capitalisation is ₹37,414 Cr at a share price of ₹128.64. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Physicswallah performing? Physicswallah Ltd's share price has been rising for 14 weeks. Over the past 13 weeks it has done better than the NIFTY 500, for 5 weeks running. This describes what the data did, not a rating (as of 3 November 2026). ### Will Physicswallah's share price go up? This page does not forecast Physicswallah Ltd's share price. What it shows instead: the share price is ₹128.64, and it has been rising for 14 weeks. Its P/E of 612.3× is higher than 27% of its own last 0 years (as of 3 November 2026). ### Who owns Physicswallah? Promoters own 71.2% of Physicswallah Ltd, foreign institutions 10.7%, domestic institutions 14.9% and the public 3.3% (latest quarter). No group of owners changed its stake by a full point over the last two years (as of 3 November 2026). ### Where is Physicswallah in its business cycle? Physicswallah Ltd's FY26 operating margin was 9.0%, against a 5-year range of −50.0% to 57.0%: the middle of its own range, neither a peak nor a low. The latest quarter was −5.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Physicswallah story? Biggest thing to watch: the price has already been rising for 14 weeks, so timing is the risk more than the business. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Physicswallah a stock worth studying right now? What the numbers show: Physicswallah Ltd's results are improving, while its P/E is near the low end of its own history over 5 months, higher than only 27% of past readings. The main open question: the next one or two quarters of results. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Physicswallah share price forecast for 2026? What management itself guided: FY27 revenue growth 30% and operating profit growth 100%. ## Lists

- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india
- Small & mid cap stocks: https://www.sectoralpha.in/small-cap-stocks-india

This is research, not advice. We’re not SEBI-registered.