Shares of PhysicsWallah Ltd. declined 3% on Thursday, February 26, extending losses to three of the last four sessions as selling pressure persisted in the edtech counter.
As of 1:20 pm IST, more than 70 lakh shares had changed hands. The decline has pulled the company’s market capitalisation down to ₹25,451 crore, sharply lower than its listing valuation of nearly ₹45,975 crore on November 18, 2025.
Stock Trades Below Short Term Averages
With the latest fall, the stock is now trading below all major short term moving averages, including the 5 day, 10 day, 20 day and 30 day averages, indicating continued technical weakness.On technical charts, the Relative Strength Index stands at 27.4. An RSI reading below 30 is typically considered an oversold condition, suggesting that the stock has witnessed heavy selling in recent sessions.
Shares were last trading 3.05% lower at ₹89.05, significantly below the IPO price of ₹109 per share.
Lock In Expiry Adds Supply Pressure
On February 12, the three month shareholder lock in period ended, unlocking 71.7 million shares, or 3% of the company’s outstanding equity, for trading. The additional supply in the market has coincided with the recent weakness in the stock.The company had delivered a strong market debut in November 2025, listing at ₹145 on the NSE and ₹143.10 on the BSE against an issue price of ₹109, translating into listing gains of 36%.
Currently, only two analysts track the stock, with one maintaining a Buy rating and the other recommending a Sell.
Growth Plans and Profitability Target
Co founder and whole time director Prateek Maheshwari has stated that the company is aiming to turn profitable within the next 12 months.Following its listing, the edtech platform outlined plans to accelerate expansion with a sharper focus on southern India, deepen its presence across 11 Indic languages, and expand into additional exam categories.
Around 52% of revenue currently comes from the online segment, while the remainder is contributed by offline centres. The company expects this mix to remain broadly stable as both segments grow.
Revenue rose more than 40% in FY24 25, and the company is projecting growth of over 30% in the coming years, with no immediate plans for inorganic expansion.
Founded in 2016 by Alakh Pandey, PhysicsWallah began with free physics lessons on YouTube and gained prominence during the pandemic. The company now operates 303 offline centres across 152 cities in India and the Middle East.
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