If energy is written on the product side of a chemical reaction, does it indicate that the reaction is endothermic or exothermic? are bonds broken or formed ?

If energy is written on the product side of a chemical reaction, it indicates that the reaction is AN EXOTHERMIC REACTION.
An exothermic reaction is a type of reaction in which the energy released during the reaction is more than the energy that is absorbed.
Note that, during a chemical reaction, the chemical bonds in the reactants are broken down while new bonds are formed in the products. Thus, whether a reaction is exothermic or endothermic depend on the difference between the energy that is needed to break the existing bonds and the energy released when new bonds are made. 

Yes it would be a physical change.