Overview
- PhysicsWallah reported FY26 revenue of Rs 3,900 crore, a 35% rise, and doubled EBITDA to Rs 549 crore while narrowing its net loss to about Rs 24 crore, with the company presenting these full-year results in late May.
- The firm expanded its user base to 5.34 million paid users and 4.87 million transacting users and grew offline reach to 353 centres with roughly 470,000 offline enrolments, shifting more sales into shorter-duration programmes.
- PhysicsWallah says it handled more than 100 million AI queries in FY26 and now uses in-house tools (Ask AI, AI Guru, AI Grader, AI Mentor) plus voice bots to cut student-support and evaluation costs dramatically.
- Its NBFC subsidiary, FinZ Finance, received an RBI licence, began lending in March and has an initial Rs 120 crore allocation with about 70% reserved for PhysicsWallah students, prompting questions about loan terms and mis-selling risks.
- Management is guiding for PAT in FY27 based on higher enrollments, AI-driven operating leverage and offline unit improvements, but regulators, journalists and analysts warn the student‑loan push needs clear consumer safeguards to avoid repeat problems seen in the sector.