Tag: PhysicsWallah

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PhysicsWallah Q2 profit jumps 70%, shares rise 5%

PhysicsWallah, the Indian edtech platform, reported a sharp increase in its quarterly results for Q2 FY26, with net profit rising by nearly 70% to ₹69.71 crore from ₹41.10 crore in the same quarter last year. The strong performance comes as the company continues to expand both online and offline learning offerings.

Revenue for the quarter rose 26.3% to ₹1,051.2 crore, up from ₹832.2 crore in Q2 FY25. The company’s EBITDA margin improved to 26% from 23% a year ago, reflecting operational efficiencies and better cost management.

PhysicsWallah’s paid user base also grew significantly. The number of unique paid users increased from 2.99 million to 3.62 million during the first half of FY26. Of these, 3.22 million enrolled online while 0.40 million joined offline centres. The company now operates 314 offline centres across India, strengthening its hybrid learning model.

Investors reacted positively to the quarterly results, with the company’s shares rising 5% intraday to a high of ₹145.70, signalling confidence in the firm’s growth trajectory post-IPO.

“The first quarterly results after our IPO reflect disciplined execution and strong market response,” said a company spokesperson. “We remain focused on scaling our offerings and diversifying into new segments to ensure sustainable long-term growth.”

PhysicsWallah is increasingly moving beyond its traditional test-prep courses for exams such as JEE and NEET, exploring additional categories to broaden its revenue base. The company expects to turn full-year profit in FY27 as new online segments mature and offline centres stabilise.

With strong revenue growth, expanding user base, and robust cash flow, PhysicsWallah is positioning itself as a leading hybrid education provider in India. Market analysts noted that while the current quarter’s performance is encouraging, execution will be key as the company scales further.

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PhysicsWallah shares surge 33% on market listing day

Ed-tech firm PhysicsWallah made a strong debut on the Indian stock market on 18 November 2025, with shares listing at ₹145 on the NSE and ₹143 on the BSE, roughly 33 % above its ₹109 IPO price.

The IPO raised a total of around ₹3,480 crore, comprising a fresh issue of 28.45 crore shares worth ₹3,100.7 crore and an offer-for-sale (OFS) of 3.49 crore shares worth ₹380 crore. The price band was ₹103–₹109 per share, and the IPO was open from 11–13 November.

Institutional investors showed strong interest, with the Qualified Institutional Buyers (QIB) segment subscribed 2.7 times. Retail investors subscribed 1.06 times, while non-institutional investors saw weaker demand at 0.48 times.

PhysicsWallah plans to use the IPO proceeds to fund expansion of offline “Vidyapeeth” and hybrid “Pathshala” learning centres, enhance cloud and technology infrastructure, cover lease costs for existing centres, boost marketing (₹710 crore), and pursue acquisitions (₹941 crore).

The company’s financials show rapid revenue growth from FY 23 to FY 25 at a CAGR of 96.9 %, reaching ₹2,886.6 crore, while adjusted EBITDA grew 90.3 % to ₹432 crore. However, net losses widened to ₹243.3 crore in FY 25 from ₹84.1 crore in FY 23, and EBITDA margins slipped slightly to 15 %.

Analysts note that while the strong listing reflects investor confidence, challenges remain, including heavy competition in the ed-tech sector, high operating costs, and the need to sustain student enrolments to achieve profitability.

PhysicsWallah’s IPO listing has set the tone for other ed-tech firms considering public offerings, showing that investors are willing to back high-growth companies even if they are not yet profitable.

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Think Investments invests ₹136 crore in PhysicsWallah ahead of IPO

US-based global investment firm Think Investments has infused ₹136.17 crore into PhysicsWallah (PW) through a secondary share purchase, ahead of the edtech company’s much-awaited ₹3,480-crore initial public offering (IPO).

The investment was made through the purchase of 10.7 million shares from 14 employees at a price of ₹127 per share, valuing the company at a premium of nearly 17% over the upper end of its IPO price band. The transaction gives Think Investments a 0.37% stake in PhysicsWallah.

Founded by Alakh Pandey and Prateek Boob, PhysicsWallah has announced an IPO comprising a ₹3,100-crore fresh issue and an offer for sale (OFS) worth ₹380 crore by the promoters. The issue will open on November 11, 2025, with a price band set at ₹103–₹109 per share.

Post-listing, the promoters’ combined stake will reduce from 80.62% to around 72%, while no institutional investors are expected to dilute their holdings.

Think Investments, which manages a global portfolio of approximately US $4 billion, is known for backing high-growth technology-driven firms, including Swiggy, FirstCry, and Urban Company.

The latest investment highlights continued institutional interest in PhysicsWallah, which has previously facilitated several employee stock-option (ESOP) liquidation rounds in 2025 at valuations ranging from ₹127–₹137 per share.

Proceeds from the IPO are expected to be deployed toward business expansion, product development, and strengthening the company’s hybrid education model across India.

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