Physicswallah Limited (PWL.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-113.9%

-₹17.89

vs ₹128.47 price

Levered DCF

₹17.56

After debt service

Piotroski score

—

Altman Z-score

—

Rating

D+

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022
P/E	-1,091.25×	-206.99×	-42.65×	-554.43×
P/B	5.25×	29.12×	-35.62×	-243.07×
P/S	6.58×	15.45×	22.97×	59.91×
EV / EBITDA	73.16×	247.79×	-54.43×	7,115.79×
Gross margin	35.3%	33.9%	25.5%	35.5%
Operating margin	-3.3%	-5.8%	-23.6%	-3.0%
Net margin	-0.6%	-7.5%	-53.8%	-11.0%
Current ratio	2.9×	1.56×	0.66×	1.59×
Debt / equity	0.23×	0.65×	-0.68×	-3.12×
Interest coverage	-1.46×	-2.23×	-7.1×	-1.07×
Dividend yield	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022
Return on equity	-0.5%	-14.2%	83.5%	44.6%
Return on invested capital	-1.9%	-5.4%	-27.8%	-1.2%
Return on assets	-0.3%	-5.2%	-41.9%	-3.9%
Free cash flow yield	2.6%	0.8%	-0.1%	0.3%
Earnings yield	-0.1%	-0.5%	-2.3%	-0.2%
Enterprise value	₹236.4B	₹453.4B	₹451.9B	₹449.1B
Net debt / EBITDA	-0.23×	5.15×	-0.96×	82.54×
Cash conversion cycle (days)	-15	-5	-5	-9