Motilal Oswal initiates coverage of edtech company PhysicsWallah with a “Buy” rating, setting a target price of Rs 200. Following the announcement, PhysicsWallah shares rise by more than 4% in early trading, according to one report. The target implies potential upside of roughly 66% from the current market price.
Both outlets describe the valuation view as driven primarily by PhysicsWallah’s online business. Motilal Oswal highlights a capital-efficient operating model, the company’s strong online presence, and the ability to scale an offline network. The brokerage projects revenue and EBITDA growth through FY28.
At the same time, coverage notes risks and uncertainties. Reported concerns include competitive pressure in the edtech sector, execution risks as the business expands, and risks tied to the company’s use of AI technologies and the broader impact of AI on learning platforms.
