PhysicsWallah reports ₹205 crore collections during its annual flagship event 

PhysicsWallah reported ₹205 crore in collections from its online business during its 20-day Vishwas Diwas period, a figure that is comparable in scale to 1/3rd of its latest quarterly online revenue of ₹600 crore. The collections noted a 36% increase over last year.

The company had reported revenue from operations of ₹1,082 crore for the quarter ended December 2025, with net profit at ₹102 crore and Pre-Ind AS EBITDA of ₹219 crore, with a margin of 20.2%.

According to the company, the event also saw over 439,000 enrollments, with participation across 13,328 pincodes. Daily app installs rose 90% during the period, while more than 3.4 million users engaged with the event across social media platforms. The company has not disclosed the average ticket size or the net realised revenue from these enrollments.

“This is a moment of academic reset for us. Every year, we launch new batches, integrate new technology layers, and refine delivery models during Vishwas Diwas,” said Amit Sachdeva, CFO, PhysicsWallah, in an exclusive conversation with Fortune India. “More importantly, we saw over 439k enrollments during this window alone. What’s encouraging is that this growth came early in the academic cycle.”

The company has positioned the early spike in enrollments as a sign of stronger student commitment and improved visibility into the academic year.

Segment-wise, PhysicsWallah said its state board category grew 178% year-on-year, while vernacular course enrollments doubled. These segments are part of its broader expansion beyond its core JEE and NEET preparation business. The company did not disclose the base for these growth rates or their contribution to overall revenue.

On the technology front, the company said its AI tool, AskAI, has answered 2.97 million student queries so far, with a reported satisfaction rate of 92.6%. “Our model is quite unique… we call it a zero CAC model,” Sachdeva said during the earnings call, referring to the company’s reliance on organic traffic driven through free content. 

PhysicsWallah said it has over 135 million users, more than 5 million paid learners, and operates 300-plus offline centres. 

How the PhysicsWallah stock performed

Despite reporting operational growth, the company’s stock has remained under pressure since listing. It has declined 35.16% year-to-date as of March 30 and is down nearly 47% from its 52-week high of ₹161.99 in November 2025 to a low of ₹77.72 in March 2026.

"We operate in a structurally resilient category since education will always be a priority in Indian households, and given the affordable education that PW provides. We understand that the stock has been under pressure, which is mostly a reflection of broader macro trends," Sachdeva explained regardinf the stock performance.

He further continued that PhysicsWallah's business fundamentals remain strong. "We currently have a treasury of over 4700+ crores, and the right capital allocation remains our top priority. Our early investments in AI put us in a significantly strong position to continue to drive student outcomes and make an impact in a large market."