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Physicswallah (PWL) investor relations material
Physicswallah Q3 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved robust revenue growth in Q3 FY26, with consolidated revenue from operations at INR 10,824.19 million, up from INR 8,096.77 million in Q3 FY25.
Pre-interest EBITDA for Q3 reached INR 218 crores (20.2% margin), and PAT was INR 102 crores (9% margin).
Nine-month consolidated revenue was INR 29,807.42 million, up from INR 22,770.44 million year-over-year.
IPO concluded in November 2025, raising INR 3,100 crores and listing on NSE and BSE, boosting treasury to INR 5,000 crores.
Unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, were approved by the Board on February 5, 2026.
Financial highlights
Q3 consolidated revenue: INR 10,824.19 million (+34% YoY); nine-month consolidated revenue: INR 29,807.42 million (+31% YoY).
Q3 pre-interest EBITDA: INR 218 crores (20.2% margin); Q3 consolidated net profit: INR 1,022.72 million.
Nine-month consolidated net profit: INR 449.74 million, down from INR 460.19 million year-over-year.
One-time expenses of INR 23 crores in Q3 related to labor code changes and IPO.
Basic EPS (standalone) for Q3 FY26 was INR 0.37, and for nine months was INR 0.35.
Outlook and guidance
Full-year revenue guidance: 32%-35% growth expected.
IPO proceeds are earmarked for capital expenditure, lease payments, marketing, technology, and inorganic growth, with significant unutilized funds temporarily invested in fixed deposits.
Continued focus on expanding both online and offline segments, with strong growth anticipated in both.
K-12 segment expected to become larger than test prep in the next 5-7 years.
The company continues to monitor regulatory changes, especially the impact of new Labour Codes on employee benefit liabilities.
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