Physicswallah Limited held its Q2 FY2027 Earnings Conference Call on November 04, 2026, at 06:00 P.M. (IST) to discuss the company's performance for the quarter and half year ended September 30, 2026. The event was a post-results investor interaction following the announcement of unaudited standalone and consolidated financial results.

Management Participants:

  • Mr. Alakh Pandey – Chief Executive Officer and Whole Time Director
  • Mr. Prateek Boob – Whole Time Director
  • Mr. Amit Sachdeva – Chief Financial Officer

The transcript of the earnings conference call was made available on the company's website at https://www.pw.live/investor-relations as part of regulatory compliance under SEBI Listing Regulations.

Financial Highlights Discussed:

  • Q2 FY27 Revenue: INR1,242 crores (up 18% YoY)
  • Q2 Pre-Ind AS EBITDA: INR233 crores (up 45% YoY) at 18.8% margin
  • Q2 PAT: INR142 crores (doubled YoY from INR70 crores)
  • H1 FY27 Revenue: INR2,293 crores (up 21% YoY)
  • H1 PAT: INR55 crores profit (swung from INR57 crores loss last year)
  • Online Revenue: INR694 crores (up 26.4% YoY)
  • Offline Revenue: INR541 crores (up 9% YoY)
  • Treasury Position: INR5,268 crores (including IPO proceeds of INR1,800 crores)

Operational Metrics:

  • Q2 unique enrollments: 1.5 million (up 12.9%)
  • Unique transacting users: 3.44 million (from 3.22 million)
  • ACPU on unique enrollments: INR4,280 (up 9.2%)
  • Infinity Pro collections: up 32% (share of collections rose to 35% from 31%)
  • Skills enrollment: up 10.3x to 1.69 lakh
  • CA enrollments: up 19%
  • NEET PG enrollments: 9,500 (up 35%)
  • Government exams enrollment: down 24%
  • Cumulative app downloads: 106 million
  • Daily active users: 4.1 million
  • Engagement: 98 minutes
  • Offline centers: 370 centers
  • H1 offline enrollments: 4.13 lakh

Strategic Updates:

  • Company maintained full-year revenue growth guidance of 30% (including potential M&A contributions)
  • Planning first Investor Day on November 18, 2026, in Mumbai
  • AI initiatives: Live batches available in 12 Indic languages, Socratic AI tutor launched at tuto.pw.live (5,000+ hours of learning completed)
  • PW Digital University officially incorporated (India's first greenfield digital university)
  • FinZ loan book of INR96 crores sold to Auxilo Finserve
  • Acquired 11% stake in Sarrthi IAS for INR71 crores
  • South India expansion: 9% of H1 revenue comes from South, identified as next growth leg
  • M&A strategy: Active discussions with online and AI-first education companies, expecting to close deals in current quarter
  • Capital allocation: USD20 million allocated for inorganic growth

Business Segment Performance:

  • Core online business grew 34% in H1
  • K-12 collection growth: 49%
  • PW Skills and Earners program: 10x growth
  • Finance category (CA, CS, ACCA, CFA): grew close to 30%
  • Categories beyond JEE NEET: contributed 73.8% of H1 enrollments (up from 64.8%)
  • Boards and CUET enrollments: up 130%
  • Foundation enrollments: up 15%, collections up 40%
  • Vernacular enrollments: up 77% to 1.2 lakh across 10 languages

Additional Notes Section

The document included the full transcript of the earnings conference call with detailed management commentary and Q&A session with analysts. No financial data was disclosed in the announcement itself beyond what was already reported in the financial results. The company indicated through standard compliance language that the meeting was for discussion of already published results.