Loading…
Indian edtech company providing affordable online and offline coaching for competitive exams like JEE and NEET.
Indian edtech company providing affordable online and offline coaching for competitive exams like JEE and NEET.
Students pay course fees, kept low, so the number of enrolments and the shift from online to centre-based classes, where fees are higher, drive revenue. Alakh Pandey, the YouTube teacher who founded the company, remains its public face, and free videos draw in students who then buy paid courses.
In one line: India's low-cost Chegg/Kaplan hybrid for exam coaching.
Moat: narrow (brand, cost advantage, distribution). Low-cost, high-volume content model built a large user base before rivals could match pricing.
Headquarters: Noida, India · Founded: 2020 · Employees: 18,977
Size PhysicsWallah (PWL.NS) is an India Industrials company (Miscellaneous Commercial Services) with a market value of $4.00B, the 242nd largest of 1,058 India companies the cockpit tracks. Shares closed at ₹130.00 on 6 Nov 2026.
Performance Over six months the shares gained 18.2%, against +9.2% for the median peer and 0.0% for the India market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 35.1% over the last twelve months (peer median +7.0%); the operating margin is 1.5% (peer median 10.6%).
Valuation It trades at 100.9× forward earnings against a peer median of 14.4× (most expensive of 19).
Capital Return on invested capital runs 12.9 points below its cost of capital (14.9% WACC).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹43.0B | ₹39.0B | ₹28.9B | ₹19.4B | ₹7.44B |
| Revenue growth | — | +35% | +49% | +161% | — |
| Gross profit | ₹9.86B | ₹7.00B | ₹4.05B | -₹448M | ₹1.15B |
| EBITDA | ₹5.23B | ₹3.82B | ₹1.99B | -₹1.55B | ₹529M |
| Net income | ₹936M | -₹225M | -₹2.16B | -₹10.4B | -₹814M |
| Free cash flow | n/a | ₹6.05B | ₹3.44B | ₹319M | ₹1.46B |
| Capital expenditure | n/a | ₹3.43B | ₹1.72B | ₹2.36B | ₹1.46B |
| Total debt | ₹10.0B | ₹10.5B | ₹9.97B | ₹24.6B | ₹14.3B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | PWL.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.9% | +6.8% | 5th lowest of 21 |
| 6-month return | +18.2% | +9.2% | 9th highest of 21 |
| Distance from 52-week high | -19.8% | -12.8% | 5th lowest of 21 |
| Revenue growth (TTM) | +35.1% | +7.0% | 4th highest of 21 |
| Operating margin | 1.5% | 10.6% | lowest of 21 |
| Forward P/E | 100.9× | 14.4× | most expensive of 19 |
| ROIC minus cost of capital | -12.9 pp | +4.3 pp | lowest of 18 |
| EV / EBITDA | 67.7× | 9.0× | most expensive of 16 |
| Net debt / EBITDA | -4.6× | 1.5× | 2nd least indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| PhysicsWallah PWL.NS | India | $4.00B | +18% | +35% | 1% | 100.9× | n/a | n/a |
| SAI Life Sciences SAILIFE.NS | India | $4.02B | +64% | +27% | 21% | 89.2× | n/a | n/a |
| Centre Testing International 300012.SZ | China | $3.96B | -5% | +15% | 16% | 22.1× | 14.2% | +13.2% |
| East Buy 1797.HK | Hong Kong | $4.11B | +22% | +34% | 11% | 38.5× | 18.4% | +54.3% |
| Alsok 2331.T | Japan | $3.79B | -1% | +7% | 8% | 13.7× | -6.0% | +4.9% |
| GEO GEO | United States | $3.66B | +28% | +15% | 12% | 13.5× | 6.8% | +2.3% |
| Serco SRP.L | United Kingdom | $3.60B | +5% | +1% | 5% | 14.9× | 1.9% | +4.9% |
| MITIE MTO.L | United Kingdom | $3.56B | +23% | +11% | 3% | 14.2× | 14.1% | +17.6% |
| Brink's BCO | United States | $4.54B | +3% | +7% | 10% | 11.8× | 0.1% | +7.3% |
| Teleperformance TEP.PA | France | $4.60B | +3% | -3% | 10% | 5.0× | -10.2% | +12.2% |
| Loomis LOOMIS.ST | Sweden | $3.46B | +12% | +1% | 11% | 12.6× | -9.1% | +9.7% |
| MAXIMUS MMS | United States | $3.43B | +2% | -3% | 11% | 7.9× | -8.5% | +9.4% |
| Dizal Pharmaceutical 688192.SS | China | $4.68B | +18% | +720% | 69% | 9.5× | -8.4% | +95.9% |
| Shenzhen Fortune Trend Technology 688318.SS | China | $3.36B | -21% | -3% | 56% | 69.5× | n/a | n/a |
| L&T Technology Services LTTS.NS | India | $4.79B | +13% | +2% | 15% | 29.4× | 31.0% | +15.1% |
| Aalberts AALB.AS | Netherlands | $4.87B | +6% | 0% | 10% | 14.6× | 12.9% | +3.4% |
| Jianshe Industry Group (Yunnan) 002265.SZ | China | $3.12B | -11% | +42% | 5% | n/a | 26.3% | +47.9% |
| ABM Industries ABM | United States | $3.10B | +32% | +6% | 5% | 12.5× | -2.0% | +7.9% |
| JHT Design 603061.SS | China | $3.07B | -8% | +93% | 34% | n/a | 43.9% | +30.4% |
| TriNet TNET | United States | $3.05B | +56% | -4% | 6% | 15.1× | -3.3% | +4.4% |
| FTI Consulting FCN | United States | $5.33B | +19% | +8% | 10% | 18.7× | -3.6% | +9.0% |