Price Movement and Market Context
On the day of the decline, Physicswallah Ltd’s shares fell by 3.38%, underperforming the Sensex which was nearly flat with a marginal dip of 0.02%. The stock also lagged its sector, registering a relative underperformance of 1.86% compared to other companies in the Other Consumer Services sector. Intraday, the share price touched Rs 88.7, establishing a fresh 52-week and all-time low.
Technical indicators show the stock trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This persistent weakness across multiple timeframes signals a bearish trend and diminished momentum.
Performance Over Various Time Horizons
Physicswallah Ltd’s share price has experienced notable declines over recent periods. The one-week performance shows a drop of 10.94%, significantly underperforming the Sensex’s modest 0.29% decline. Over one month, the stock plunged 29.91%, while the Sensex gained 0.88%. The three-month performance reveals a 32.78% fall against the Sensex’s 3.91% decline. Year-to-date, the stock has lost 33.26%, compared to the Sensex’s 3.48% fall.
Over longer horizons, the stock has failed to generate returns, with zero growth recorded over one, three, five, and ten-year periods. This contrasts sharply with the Sensex’s robust gains of 10.26% over one year, 38.33% over three years, 67.53% over five years, and an impressive 255.26% over ten years.
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Financial Metrics and Profitability
Physicswallah Ltd’s financial profile reveals several areas of concern. The company reported a return on equity (ROE) of 0%, reflecting a lack of profitability and indicating losses during the period. This negative ROE underscores the company’s inability to generate returns on shareholder capital.
Debt servicing capacity appears limited, with a Debt to EBITDA ratio recorded at 0 times. While this figure may suggest low leverage, it is primarily a consequence of negative earnings before interest, taxes, depreciation, and amortisation (EBITDA), which complicates the assessment of debt sustainability.
Operating profits remain negative, contributing to the stock’s classification as risky relative to its historical valuation averages. Despite this, the company’s profits have risen by 84% over the past year, a notable increase that contrasts with the stagnant share price performance.
Sales and Quarterly Results
On a positive note, Physicswallah Ltd reported its highest quarterly net sales at Rs 918.69 crores. Profit before tax excluding other income (PBT LESS OI) for the quarter stood at Rs 89.78 crores, representing a substantial growth of 552.2% compared to the previous four-quarter average. Similarly, profit after tax (PAT) for the quarter was Rs 115.84 crores, up 149.2% versus the prior four-quarter average.
Despite these encouraging quarterly figures, the broader financial and market context has not translated into share price appreciation, reflecting ongoing challenges in translating operational improvements into sustained investor confidence.
Institutional Holdings and Market Perception
Institutional investors hold a significant stake in Physicswallah Ltd, accounting for 25.14% of the share capital. These investors typically possess greater analytical resources and a longer-term perspective on company fundamentals. Their continued presence suggests a degree of confidence in the company’s underlying business, even as the stock price remains under pressure.
Valuation and Market Grade
The company’s Mojo Score stands at 44.0, with a Mojo Grade of Sell as of 17 Dec 2025, downgraded from a previous Strong Sell rating. The Market Cap Grade is 2, indicating a relatively modest market capitalisation within its sector. These ratings reflect the current assessment of the company’s financial health and market position.
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Summary of Challenges
Physicswallah Ltd’s stock has been marked by a prolonged period of underperformance relative to the Sensex and its sector peers. The share price decline to Rs 88.7, an all-time low, reflects a combination of stagnant long-term returns, negative operating profits, and limited debt servicing capacity. While quarterly sales and profit growth have shown improvement, these have yet to translate into sustained market gains.
The company’s financial metrics, including a zero ROE and a Mojo Grade of Sell, highlight ongoing difficulties in generating shareholder value. The stock’s trading below all major moving averages further emphasises the prevailing bearish sentiment.
Institutional investors maintain a sizeable holding, indicating some confidence in the company’s fundamentals despite the challenging market environment. However, the overall picture remains one of subdued performance and valuation pressures.
Conclusion
Physicswallah Ltd’s recent share price decline to a record low underscores the severity of its current market position. The stock’s performance across multiple timeframes, combined with financial indicators, paints a picture of a company facing significant hurdles in delivering consistent returns. The disparity between improving quarterly results and the persistent share price weakness highlights the complexities involved in the company’s valuation and market perception.
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