New Delhi, Aug. 21 -- From its 52-week high of Rs.161.99 seen in November, the Physicswallah stock is down 25%. A turnaround in the stock's performance depends on whether the company manages to meet its guidance, especially after a mixed June quarter (Q1FY27) amid NEET disruption.

Online business remained a key driver, with revenue rising 33.2%, aided by traction in K-12/Early Learning, vernacular and newer categories. A leash on costs also helped. But offline business growth was subdued due to the NEET timing shift.

An important factor that would reflect in near-term earnings performance is the impact of the delayed NEET cycle. The examination and result schedule was pushed back by five-seven weeks, affecting both collections and enrol...