Q4 Earnings Reports Highlight Mixed Performance Across Key Indian Companies On May 27, 2026, over 325 Indian companies reported their March-quarter results, marking a pivotal day on Dalal Street as investors closely monitored financial performance, margin trends, and dividend announcements. The earnings season saw a mix of strong gains, significant losses, and strategic moves across sectors, with several companies delivering standout performances. PhysicsWallah, an online education platform, reported a notable reduction in its net loss, declining to Rs 74.9 crore from Rs 293 crore in the same period last year. This improvement came alongside a 50.7% surge in revenue to Rs 919 crore, driven by increased user engagement and course offerings. The company’s EBITDA also improved, rising to Rs 28.8 crore compared to a loss of Rs 228.5 crore. Vadilal Industries, a food and beverage company, recorded a 150% jump in net profit to Rs 54.9 crore, with revenue growing 51.2% to Rs 416 crore. The company also announced a dividend of Rs 43 per share, reflecting confidence in its financial health. Its EBITDA margin improved to 20.4% from 14.3%, signaling better cost management. ISGEC Heavy, a steel and engineering firm, reported a 559% surge in net profit to Rs 73.2 crore, with revenue rising 17.4% to Rs 2,048 crore. The company’s EBITDA increased by 7.7% to Rs 156 crore, though its EBITDA margin slightly declined to 7.6% from 8.3%. ISGEC also announced a dividend of Rs 6 per share. In contrast, Hikal, a pharmaceutical company, faced a sharp decline in profits, with net profit falling 71.3% to Rs 14.4 crore. The company attributed the drop to a one-time loss of Rs 47 crore in the quarter, which impacted its revenue and EBITDA. Revenue declined 6% to Rs 519 crore, while EBITDA dropped 14.6% to Rs 105 crore.#physicswallah #vadilal_industries #isgect_heavy #hikal #varroc_engineering
PhysicsWallah Shares Surge Amid JPMorgan's Positive Outlook Shares of PhysicsWallah Ltd. experienced a significant rise, climbing as much as 5% on Tuesday, April 21, following the initiation of coverage by JPMorgan. The brokerage firm assigned an "Overweight" rating to the stock, accompanied by a price target of ₹125, which represents an estimated 18% upside from current market levels. This analysis positioned PhysicsWallah as a key player in India's edtech sector, highlighting its disruptive role in the online test preparation industry through a low-cost content delivery model that spans both digital and hybrid formats. JPMorgan emphasized the company's strong market position, noting its ability to capitalize on the expanding online education sector. The brokerage cited projections from Redseer, which forecast a compound annual growth rate (CAGR) of 29% for the online market between fiscal years 2025 and 2030, with the sector expected to reach a value of $6 to $6.5 billion. The firm also highlighted the company's potential for strong margins, estimating that its online segment could achieve around 30% profitability by fiscal year 2027. While the online business is a primary driver of the company's profitability and cash flow generation, JPMorgan acknowledged the importance of its offline operations. The company has established a growing presence through over 300 centers across 200 cities, catering to students who prefer classroom-based learning. This dual approach—combining digital and physical infrastructure—provides the company with additional growth opportunities. However, the brokerage identified several risks that could impact PhysicsWallah's performance.#jpmorgan #jee #neet #physicswallah #redseer
JPMorgan initiates coverage with 'Buy' on Physicswallah; stock gains 4% JPMorgan has initiated coverage on PhysicsWallah with an 'Overweight' rating and a price target of ₹125, which represents a 14% upside from its current market price of ₹110. At 11:44 AM, the company's shares were trading 2.7% higher at ₹109.98, outperforming the BSE Sensex, which rose 0.77% to 79,122.61. The stock reached a day's high of ₹111.2, reflecting investor optimism. The brokerage's valuation of the edtech firm relies on a sum-of-the-parts (SOTP) approach, assigning a 30x EV/Ebitda multiple to its core online and hybrid test prep business and a lower 10x EV/Ebitda to its offline centres. The school business segment is not valued in this analysis. JPMorgan's positive outlook is anchored in the growth potential of India's test prep market, which is projected to expand at a 13% compound annual growth rate (CAGR) over FY25-30, reaching $23-25 billion, according to Redseer. Within this, the online segment is expected to grow at a faster pace of 29% CAGR, reaching $6-6.5 billion. PhysicsWallah is positioned to capture a significant share of this market, particularly with its affordable pricing strategy for JEE, NEET, and UPSC preparation. The brokerage highlights the company's ability to cater to a broad student base across income brackets through its range of courses, from basic to premium tiers. The brokerage emphasizes its confidence in PhysicsWallah's online business, which is forecasted to grow at 30% over FY26-28. Margins are expected to rise from 30% to 33%, driven by increased course penetration, student acquisition, and higher revenue from premium offerings. However, the offline centres business, currently loss-making, is anticipated to break even by FY27 as utilization improves.#bse_sensex #jpmorgan #physicswallah #redseer #k_12_schools
PhysicsWallah Set to Acquire Stake in Rojgar With Ankit Edtech company PhysicsWallah (PW) is in advanced talks to acquire a stake in Rojgar With Ankit (RWA), a digital-first platform specializing in government examination preparation, according to sources. While the financial terms of the transaction remain undisclosed, industry estimates suggest the deal could be valued between Rs 300-400 crore. This potential acquisition would mark PW’s first major deal since its public listing in November 2025. The move is seen as a strategic step to expand PW’s footprint in the competitive test-preparation sector. Rojgar With Ankit, a YouTube-based education platform, offers courses for exams such as the railways, banking, Staff Selection Commission (SSC), Uttar Pradesh Subordinate Services Selection Commission (UPSSSC), and defence services. It also provides resources for joint entrance examinations (JEE), national eligibility-cum-entrance test (NEET), and board exams like the Central Board of Secondary Education (CBSE), UP Board, and Bihar School Examination Board. PW, which began its journey on YouTube, has been rapidly expanding its focus on government exams, including the Union Public Service Commission (UPSC), railways, banking, SSC, JEE, and NEET. PW’s recent financial performance underscores its growing influence in the sector. In its third-quarter shareholder letter for FY26, the company reported a 33% surge in net profit to Rs 102.3 crore for the nine-month period ending December 2025, compared to Rs 76.7 crore in the same period the previous year. Revenue from operations rose 34% to Rs 1,082.4 crore, up from Rs 809.7 crore a year earlier. As of December 31, 2025, PW’s treasury stood at Rs 5,054.4 crore, including proceeds from its initial public offering (IPO).#upsc #physicswallah #rojgar_with_ankit #xylem_learning #utkarsh_classes
