PhysicsWallah Limited has received a significant tax demand notice of ₹263.34 crore from the Income Tax Department under Section 143(3) of the Income-tax Act, 1961. The assessment order and demand notice were dated March 16, 2026, and pertain to Assessment Year 2023-24.

Assessment Details and Tax Demand

The Income Tax Authority has treated investments received during Assessment Year 2023-24 from various investors, including SEBI-registered Category II Alternative Investment Fund (AIF), as taxable income. This treatment has resulted in the substantial tax demand of ₹263.34 crore against the company.

Company's Response and Action Plan

PhysicsWallah Limited has indicated that based on its preliminary assessment, the company believes it has strong legal and factual grounds to file an appeal before the appropriate appellate authority. The company has been evaluating the assessment order and accompanying demand notice in consultation with advisors and consultants, which caused a delay in the disclosure.

Financial Impact Assessment

Despite the significant amount involved, PhysicsWallah Limited has stated that the demand notice will not have any material impact on the company's financial position, operations, or business activities. The company maintains confidence in its position regarding the tax treatment of the investments in question.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company has also hosted this disclosure on its investor relations website at pw.live/investor-relations as part of its transparency commitments to stakeholders.

Investment Context

The tax demand centers around the treatment of investments received from investors, including SEBI-registered Category II AIF, during the Assessment Year 2023-24. The Income Tax Department's position treats these investments as taxable income, which the company disputes and plans to challenge through the appellate process.

Physicswallah Limited has announced an investor meeting organized by Jefferies, scheduled for March 12, 2026, as part of its regulatory disclosure obligations under SEBI Listing Regulations. The company informed both NSE and BSE about this scheduled interaction with investors and analysts.

Meeting Details

The investor meeting has been structured as a group session with specific timing and location parameters:

Regulatory Compliance

The company has made this disclosure pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Physicswallah Limited has emphasized that the meeting will maintain strict compliance with disclosure norms.

During the investor interaction, the company has committed to not sharing any unpublished price sensitive information that is not already available in the public domain. The discussions will be limited to:

• General business outlook
• Information already available publicly
• Standard corporate updates

Administrative Notes

The company has indicated that the meeting schedule is subject to potential changes due to exigencies on the part of analysts, investors, or the company itself. This disclosure will also be made available on Physicswallah Limited's official investor relations website at pw.live/investor-relations.

The regulatory filing was signed by Ajinkya Jain, Group General Counsel, Company Secretary & Compliance Officer, on March 06, 2026, ensuring proper documentation and compliance with exchange requirements.