PhysicsWallah Share Price Rises; Posts Q2 FY26 Results With 70% YoY Profit Growth

PhysicsWallah Limited announced its financial results for the quarter ended September 30, 2025, reporting a profitable and growth-driven performance in Q2 FY26. 

Revenue from operations rose 26% year-on-year to ₹10,512 million, while profit after tax strengthened to ₹697 million, marking a 70% increase over the previous year. 

Revenue Momentum Powered by Expanding User Base

In the first half of FY26, the company recorded 29% revenue growth, primarily driven by a rise in paid users from 2.99 million to 3.62 million. Online paid users reached 3.22 million, up from 2.68 million a year ago, while offline enrollments grew to 0.40 million compared to 0.31 million last year. 

With 128 new centers added in the past year, PW now operates 314 centers nationwide, significantly expanding its reach through PW Vidyapeeth, PW Pathshala, other PW centers, and subsidiary institutions.

Profitability and Cash Flow Strengthened

Profitability improved in Q2 FY26, supported by better operating leverage. Adjusted EBITDA margins increased to 26% from 23% a year earlier. PAT margins rose to 7%, highlighting strong operating discipline. 

The company also maintained a healthy liquidity position, generating free cash flow of ₹6,441 million in H1 FY26. Its treasury balance stood at ₹25,519 million as of September 30, 2025, excluding IPO proceeds.

Operational Scale and Expanding Market Reach

PW continues to deepen its presence in India’s education ecosystem, backed by 6,643 faculty members, a daily active user base of 3.5 million, and engagement time of 103 minutes. The company serves a growing community of over 125 million social media subscribers. 

With education remaining a priority expenditure for Indian households, PW is expanding into large, underpenetrated segments including Civil Services, State Boards, Defence, Commerce, MBA, CA, and upskilling programs.

Strategic Push Through Pi

The company’s new initiative, Pi, is designed for the low-ticket consumer segment. Priced affordably between ₹300 and ₹400, Pi offers a distraction-free learning environment and aims to monetize students beyond conventional paid offerings. It aligns with PW’s mission of affordability and accessibility.

PhysicsWallah Share Price Performance

On December 9, 2025, PhysicsWallah share price (NSE: PWL) opened at ₹142.75, up from its previous close of ₹138.44. At 9:56 AM, the share price of PhysicsWallah was trading at ₹140.05, up by 1.16% on the NSE.

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Conclusion

With financial results, growing enrollments, expanding offline infrastructure, and new strategic initiatives, PhysicsWallah is well positioned to drive the next phase of growth in India’s evolving education landscape.

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