Physicswallah Ltd — earnings calls
2 quarters summarised from transcripts filed with the exchange, every statement cited. Newest first.
Physicswallah reported Q1 FY27 revenue from operations of INR1,054 crores, up over 24% year-over-year, with online revenue growing 33% and offline growing 16%. Pre-Ind AS EBITDA was negative INR44 crores, an improvement of 624 basis points year-over-year, while management attributed part of the revenue and enrollment softness to a shift in the NEET examination calendar. Management also discussed new initiatives including the PW Books app, an AI doubt-solving tool called Ask AI, a planned AI tutor product, and a decision to divest Finzy Fintech.
Physicswallah reported FY26 revenue of Rs 3,900 crore, up 35% year-on-year, with pre-Ind AS EBITDA of Rs 300 crore versus Rs 93 crore in FY25 and a net loss of Rs 24 crore versus a loss of Rs 234 crore in FY25. Q4 revenue was Rs 919 crore, up 51% year-on-year, with pre-Ind AS EBITDA of Rs 9 crore against a loss of Rs 139 crore in the year-ago quarter. Management discussed online and offline segment performance, AI product initiatives including Aryabhatta and Ask AI, the Saarthi acquisition, a new NBFC for student loans, and a shift to an asset-light approach in the K-12 business.