Physicswallah Limited — Q1FY27 earnings call summary

Filed 20 August 2026 · Official transcript

Online margin ~27% last year; improvement expected as newer categories break even
NEET exam cycle shift impacted Q1 enrollments; offline growth would be 22-25% without delay
Pre-Ind AS EBITDA negative 44 Cr, improved 624 bps y-y; PAT loss 84 Cr vs 152 Cr loss last year
Online early learning and K-12 revenue grew 88% y-y; offline centers focus on cohort profitability
Offline business targeting near profitability this year; improving ARPU and student-teacher ratios
Multiple analyst queries on NEET impact, offline profitability, and AI initiatives addressed
Q1FY27 revenue 1,054 Cr +24% y-y; online revenue +33%, offline +16%
Capital allocation focused on online content, AI initiatives; divestment of Finzy Fintech planned