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  3. PhysicsWallah expands to 4.46 mn paid users in FY25, up 153% from FY23

PhysicsWallah expands to 4.46 mn paid users in FY25, up 153% from FY23

7 Oct 2025

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Key Takeaways

Sustained user growth, higher engagement, and diversified offerings signal strong pre-IPO fundamentals and expanding monetization potential for PhysicsWallah investors.

Sustained user growth, higher engagement, and diversified offerings signal strong pre-IPO fundamentals and expanding monetization potential for PhysicsWallah investors.

physicswallah unlisted shares

Physics Wallah

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Expert Analysis

PhysicsWallah’s Paid Users Jump 153% to 4.46 Million in FY25 Ahead of IPO.

Expert Analysis :

  • User Growth: PhysicsWallah, eyeing an IPO, reported a 153.4% rise in paid users to 4.46 million in FY25 from 1.76 million in FY23.

  • Operational Expansion: In FY25, PhysicsWallah recorded 4.13 million unique transacting users on its online channel and expanded to 13 education categories, showcasing growth in scale and reach.

  • Digital Reach: As of July 15, 2025, Physics Wallah – Alakh Pandey had 13.7 million subscribers, while its overall digital presence grew to 98.8 million subscribers across 207 YouTube channels by June 2025, registering a 41.8% CAGR between FY23 and FY25.

  • Monetization and Engagement: PhysicsWallah’s average collection per online user (ACPU) rose to Rs 3,682.79 in FY25, daily active users grew from 0.93 million in FY23 to 2.70 million, and average student engagement increased from 93 minutes to 111 minutes.

  • Physical and App Presence: As of March 2025, the company operated 198 physical centres across 109 cities in India and the Middle East, with 14 dedicated apps recording a cumulative 64.5 million downloads.

  • Expansion into Upskilling: PhysicsWallah is diversifying into professional skills and upskilling courses through apps like PW MedEd (NEET PG), PW Curious Jr. (early learners), and Utkarsh (government exams), covering the full education lifecycle.

Publisher:Business Standard