India · Delayed Price · Currency is INR Physicswallah Earnings Call Transcripts
Fiscal Year 2027
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Record Q2 revenue and EBITDA accompanied a return to H1 profitability. Online and newer categories are offsetting delayed NEET demand, while FY27 revenue growth guidance remains 30% and offline profitability is targeted near breakeven.
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Q1 FY27 revenue grew 24% year-over-year to INR 1,054 crores, with strong online (33%) and offline (14%) growth. K-12 and state board categories saw rapid expansion, while NEET exam timing shifted some enrollments to Q2. Annual guidance of 30% revenue and 100% EBITDA growth is maintained.
Fiscal Year 2026
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Revenue grew 35% to INR 3,900 crore in FY 2026, with EBITDA tripling and PAT loss narrowing sharply. Online now exceeds 50% of revenue, driven by AI initiatives and strong enrollment growth. FY 2027 guidance targets PAT profitability and over 30% revenue growth.
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Q3 FY26 saw 34% YoY revenue growth and strong margins, with robust performance in both online and offline segments. IPO proceeds are fueling expansion in K-12, AI, and M&A, while new categories and regional initiatives drive future growth.
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Q2 FY26 saw 26% revenue growth and 70% PAT increase, with strong online and offline enrollments and margin expansion. Management expects Q3 to be the strongest quarter and projects sustainable growth in both revenue and profitability over the next 3-5 years.