NDTV Profit's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer NDTV Profit's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
PhysicsWallah Ltd. shares are likely to remain in focus after domestic brokerage firm Motilal Oswal Financial Services initiated coverage on the education technology company with a 'Buy' rating and a target price of Rs 200, implying a potential upside of nearly 66% from the current market price of around Rs 121.
The brokerage said PhysicsWallah has built one of India's most capital-efficient education platforms, supported by a low-cost customer acquisition model, affordable pricing, strong brand recall and an expanding AI-enabled learning ecosystem. Motilal Oswal believes the company's online business will remain the primary value driver over the coming years.
While online remains the key growth engine, the brokerage sees the offline business as an important monetisation layer. PhysicsWallah expanded its offline network to 353 centres by FY26, making it one of India's fastest-growing coaching networks.
Motilal Oswal expects the offline segment to deliver around 20% revenue CAGR over FY26-30, while achieving profitability as centre utilisation improves and newly opened centres mature.
Key risks:
Higher competitive intensity; weaker offline execution and center utilization; higher faculty attrition impacting student outcomes and brand perception; and adverse regulatory changes affecting coaching institutes, advertising or data privacy.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
