IPO-bound PhysicsWallah's revenue grows by 53% in FY25, losses narrow

Edtech firm PhysicsWallah posted Rs 3,000 crore revenue in FY25 with 50% growth, aided by offline expansion and rising paid enrolments, as it prepares for its Rs 4,500 crore IPO

PhysicsWallah, the first education-technology firm to get Sebi nod to launch an initial public offering (IPO), has recorded a 53 per cent jump in its revenue for the financial year 2024-25 (FY25), sources said.

 

The ed-tech Unicorn has recorded a revenue of ₹3,000 crore for FY25, up from ₹ 1,950 crore in FY24, sources privy to the matter told Business Standard.

 

The firm has managed to cut losses by 80 per cent, the sources cited above said. But the exact number for FY25 was not available. For FY24, the losses were ₹1,131 crore. 

 

 

The earnings before interest, taxes, depreciation, and amortisation (Ebitda) stood at around ₹200 crore.

 

The company’s revenue growth can be attributed to factors such as offline push and increase in paid batch enrolments. The ed-tech platform currently has around five million paid users, up from 3.6 million in FY24.

 

It opened over 120 offline centres in FY25. In total, the platform now has over 200 offline centres.

 

Even with expansion, the marketing spend also remained less than 10 per cent of revenue. Overall, PhysicsWallah is debt-free with over ₹2,000 crore in the treasury. The company hasn’t yet officially shared its latest financial results.

 

The firm is eyeing an IPO through which it reportedly plans to raise around ₹4,500 crore. It filed a draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (Sebi) in March this year. The Noida-based firm took the confidential pre-filing route.