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  3. IPO-bound PhysicsWallah's revenue grows by 53% in FY25, losses narrow

IPO-bound PhysicsWallah's revenue grows by 53% in FY25, losses narrow

26 Aug 2025

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Key Takeaways

PhysicsWallah’s FY25 revenue rose 53% to ₹3,000 crore, losses cut 80%, with five million users and ₹4,500 crore IPO plan.

PhysicsWallah’s FY25 revenue rose 53% to ₹3,000 crore, losses cut 80%, with five million users and ₹4,500 crore IPO plan.

physicswallah unlisted shares

Physics Wallah

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Expert Analysis

IPO Bound PhysicsWallah Posts 53% Revenue Growth in FY25, Cuts Losses by 80%.

Expert Analysis:

  • Revenue Growth: PhysicsWallah, the first ed-tech firm with Sebi IPO nod, posted a 53% jump in FY25 revenue to ₹3,000 crore from ₹1,950 crore in FY24.

  • Loss Reduction: Losses reduced by 80 per cent in FY25; FY24 losses were ₹1,131 crore, though the FY25 exact figure is not disclosed.

  • Profitability Metric: Earnings before interest, taxes, depreciation, and amortisation (Ebitda) stood at around ₹200 crore.

  • User Base Expansion: Revenue growth driven by offline push and paid batch enrolments, with paid users rising to five million from 3.6 million in FY24.

  • Offline Growth: PhysicsWallah added over 120 centres in FY25, taking its total network to more than 200 offline centres.

  • Financial Position: Marketing spend stayed below 10 per cent of revenue; the company remains debt-free with over ₹2,000 crore in treasury.

  • IPO Plans: PhysicsWallah aims to raise around ₹4,500 crore via IPO, filing DRHP with Sebi in March through confidential pre-filing.

Publisher:Business Standard