PhysicsWallah share price listing: Strong debut on Dalal Street on Tuesday
The edtech company’s shares opened at ₹145 on the NSE and ₹143.10 on the BSE, significantly above the issue price of ₹109. The stock continued to climb after listing, rising another 11% on the NSE as investor interest remained strong.
The company’s market entry comes as India’s education sector experiences rapid expansion. The domestic market, valued at ₹15–16 trillion in FY25, is projected to grow at around 10% annually and reach ₹24–26 trillion by FY30. This surge is supported by rising educational infrastructure, with universities increasing from 903 to 1,168 and colleges from 39,050 to 45,473 between FY18 and FY22, News.Az reports, citing foreign media.
Despite the successful listing, analysts remain cautious about the risks ahead. PhysicsWallah continues to face losses and uncertain profitability, with rising operational costs and tough competition in the edtech and offline coaching space. The company’s dependence on student enrolments and key faculty adds further vulnerability, especially as it pushes for rapid offline expansion.
Financially, PhysicsWallah recorded impressive revenue growth between FY23 and FY25, with revenue rising to ₹2,886.6 crore and adjusted operating profit reaching ₹432 crore. However, net losses widened sharply to ₹243.3 crore in FY25 from ₹84.1 crore in FY23. Its adjusted Ebitda margin also slipped slightly to 15% from 16% during the period, although its offline Average Revenue Per User rose steadily to ₹40,404.6.
At the upper valuation band, the company is priced at ₹31,500 crore. While still loss-making, analysts say PhysicsWallah’s strong brand presence, loyal student base, and hybrid model could position it well for long-term expansion if it manages execution risks effectively.
Similar news
