Physicswallah Limited — Q2FY27 earnings call summary

Filed 09 November 2026 · Official transcript

Q2 FY27 revenue INR1,242 Cr +18% y-y; Pre-Ind AS EBITDA INR233 Cr +45% y-y at 18.8% margin; PAT INR142 Cr doubled y-y
NEET demand delayed but recovering; online NEET collections +27%, enrollments +30%
H1 FY27 revenue up 21%, profit swung to INR55 Cr from INR57 Cr loss
Multiple analyst queries on NEET recovery and AI tutor monetization; management confident on 30% revenue growth guidance
Online revenue up 26.4%, unique enrollments +12.9%, ACPU INR4,280 +9.2%
PW Digital University launched; India's first greenfield digital university
AI tutor live with 5,000+ learning hours; AI writes 90% of code
M&A pipeline active; USD20m capital allocated for online inorganic growth