Goldman Sachs Initiates PhysicsWallah Coverage with Neutral Rating, Target Price ₹135

PhysicsWallah Limited has received its first research coverage from Goldman Sachs, with the global investment bank initiating coverage on the education sector stock. The investment firm has assigned a neutral rating to the company's shares.

Goldman Sachs Coverage Details

The key parameters of Goldman Sachs' coverage initiation are outlined below:

Parameter	Details
Rating	Neutral
Target Price	₹135.00
Coverage Status	Initiated
Sector	Education

Investment Bank Perspective

Goldman Sachs' neutral stance suggests the investment bank views PhysicsWallah's current valuation as fairly priced relative to its growth prospects and market position. The ₹135.00 target price provides institutional investors with a benchmark for evaluating the stock's potential performance.

Market Context

The initiation of coverage by a prominent global investment bank like Goldman Sachs typically indicates increased institutional interest in a company's stock. For PhysicsWallah, operating in the education sector, this research coverage provides formal analyst guidance that institutional investors often rely upon for investment decisions.

The neutral rating reflects Goldman Sachs' assessment of the company's current market position and future prospects within the education technology space.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.75%	-1.13%	-0.83%	-15.75%	-15.75%	-15.75%

Physicswallah Limited has announced a significant land acquisition through its wholly owned subsidiary, Penpencil EduServices Private Limited. The company disclosed the transaction under Regulation 30 of SEBI Listing Regulations on December 23, 2025.

Land Acquisition Details

Penpencil EduServices Private Limited executed a sale deed on December 23, 2025, for acquiring 1.76 acres of land situated at Village-Tupudana, District Ranchi. The acquisition represents a strategic move to support the company's future business expansion plans.

Parameter:	Details
Land Area:	1.76 acres
Location:	Village-Tupudana P.S. Hatia now Dhurwa, P.S. No. 267, District Ranchi
Transaction Value:	₹69.50 crores (excluding transfer charges and duties)
Sale Deed Date:	December 23, 2025
Sellers:	Sri Sudhir Kumar Tiwary and Sri Vedaant Tiwary
Buyer:	Penpencil EduServices Private Limited

Transaction Structure

The total transaction value amounts to ₹69.50 crores (Indian Rupees Sixty Nine Crore Forty Nine Lakh Seventy Two Thousand Eight Hundred Only), excluding transfer and other applicable charges and duties. The land has been acquired free from all encumbrances, charges, mortgages, attachments, lis pendens, demand, liens and trust of whatsoever nature.

Strategic Purpose

The land acquisition is specifically intended to support future expansion of business operations. This move aligns with the company's growth strategy in the education sector, providing physical infrastructure for potential facility development in the Ranchi region.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI Listing Regulations and SEBI circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company confirmed that the transaction does not fall within related party transactions, and the sellers have no relationship with the promoter, promoter group, or group companies.

Corporate Information

The disclosure was signed by Ajinkya Jain, Group General Counsel, Company Secretary & Compliance Officer of Physicswallah Limited. The complete disclosure has been hosted on the company's website at https://www.pw.live/investor-relations for stakeholder reference.