PhysicsWallah Ltd (MAINBOARD)

Key Performance Indicator (KPI)

Financial details In crores

COMPARISON WITH INDUSTRY PEERS

*Company does not have any peer group company for comparison with Industry Peer.

Company Overview

Industry: EdTech
Founded: India
Focus Areas: Test preparation & upskilling

Overview:
PhysicsWallah is a leading Indian edtech company offering online and offline learning solutions for competitive exams such as JEE, NEET, UPSC, and various upskilling programs in Data Science, Banking & Finance, and Software Development.

The company operates through digital platforms (website, mobile app, and social media) as well as tech-enabled offline and hybrid centers, providing accessible and affordable education across India.

As of July 15, 2025, PhysicsWallah ranks among the top 5 edtech companies in India by revenue, with a strong digital presence of 13.7 million YouTube subscribers.

Key Highlights (as of June 30, 2025)

• 4.13 million unique transacting users (online)
• 0.33 million students enrolled in offline centers
• Average collection per user: ₹3,930.55
• Offers courses across 13 education categories
• Operates 303 offline centers nationwide
• Employs 6,267 faculty members and 18,028 total employees
• Published 4,382 books to support its educational programs

Omni-channel Presence: Strong combination of online, offline, and hybrid learning modes enables wide market coverage and adaptability to different student needs.

Large User Base and Strong Brand Trust: Over 13.7 million YouTube subscribers and 4.46 million paid users indicate strong brand recognition and organic reach across India.

Proprietary and Scalable Technology Stack: In-house platforms and delivery systems enhance learning experience, reduce external dependency, and allow cost-efficient scaling.

Consistent Losses and Negative Net Worth: Reported losses of ₹2,432.58 million (FY25), ₹11,311.30 million (FY24), and ₹840.75 million (FY23). Sustained financial losses may affect liquidity and investor sentiment.

Dependence on Student and Faculty Retention: Business performance is heavily dependent on continued student enrolments and faculty retention; any decline could harm growth and revenue.

High Competition and Costly Offline Expansion: The company faces strong competition from major EdTech players like BYJU’S and Unacademy, while ongoing capital and lease expenses for new centers pose financial pressure.