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PhysicsWallah Q1 revenue rises 24% to Rs 1,054 crore

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Date
Company
PhysicsWallah
What it does
Online and offline exam coaching
Kind
Results
Stage
public
Based in
Noida
Founded
2016

What they do

PhysicsWallah provides online and offline coaching for JEE, NEET, UPSC and school exams

What happened

Its Q1 FY27 consolidated revenue grew 24% year-on-year to Rs 1,054 crore, while net loss narrowed 30% to Rs 88 crore

Why it matters

The company's online K-12 and early learning revenue surged 88% to Rs 105 crore, driven by 41% more enrolments

The details

  • PhysicsWallah announced its Q1 FY27 results on 14 August 2026.
  • Consolidated revenue from operations rose 24% year-on-year to Rs 1,054 crore.
  • Consolidated net loss narrowed 30% to Rs 88 crore, compared to Rs 127 crore in Q1 FY26.
  • Consolidated EBITDA turned positive at Rs 52 crore, with a margin of 4.9% versus a negative 2.5% a year ago.
  • Online revenue grew 33% to Rs 549 crore, while offline revenue rose 14% to Rs 490 crore.
  • Online K-12 and early learning revenue jumped 88% to Rs 105 crore, with enrolments up 41% to 780,000.
  • The company divested its education-loan business FinZ during the quarter.
  • The board approved acquiring an additional 11% stake in Sarrthi IAS for Rs 71.81 crore, taking its holding to 51%.

The bigger picture

  • The NEET exam cycle delay pushed peak enrolment from June to July/August, causing online NEET collections to drop 28% in Q1.
  • PhysicsWallah maintained its FY27 revenue growth guidance of about 30% and expects pre-IndAS EBITDA to double this year.
  • JM Financial upgraded the stock to 'Buy' with a target price of Rs 140, citing improving profitability.
  • The company listed on stock exchanges in November 2025 and had a treasury including IPO proceeds of Rs 5,601 crore.

About the business

  • PhysicsWallah is an online platform for JEE, NEET, UPSC, school boards, and over 35 exam categories.
  • It operates offline Vidyapeeth and Pathshala centres in more than 175 cities, with 366 centres in total.
  • Products include AI-powered digital books and a one-on-one AI tutor.
  • The company had 4 million daily active users and 2.1 million unique transacting users online in Q1.
  • Average collection per user (ACPU) was Rs 4,312, up 10% year-on-year.

What happens next

  • PhysicsWallah maintained its FY27 revenue growth guidance of about 30%.
  • The company expects pre-IndAS EBITDA to double in FY27.
  • Alakh Pandey offered unconditional non-profit support to the government for PM Modi's free online coaching plan.

The deal

Type
results

Founders

  • Alakh Pandey, founder and CEO
  • Prateek Maheshwari, co-founder

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