Audited Financial Results for the quarter and financial year ended March 31, 2026
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Physicswallah Limited reported strong revenue growth for FY26, with standalone revenue rising 39% to ₹3,244.56 crore and consolidated revenue growing 35% to ₹3,899.54 crore compared to FY25. However, the company continues to incur losses — standalone net loss widened to ₹314.18 crore (vs ₹37.73 crore loss in FY25), while consolidated net loss narrowed significantly to ₹24.17 crore (vs ₹243.26 crore loss in FY25). The company completed its IPO in November 2025, raising ₹2,961.79 crore through a fresh issue of shares at ₹109 each. Exceptional items for the year included a ₹66.45 crore impairment loss on subsidiary investments (standalone) and ₹52.57 crore (consolidated). Cash and cash equivalents improved sharply to ₹309.06 crore as of March 31, 2026 from ₹22.07 crore a year ago, driven by IPO proceeds. S.R. Batliboi & Associates LLP issued an unmodified (clean) audit opinion.
Despite the IPO-funded cash buildup, the widening standalone loss and ongoing consolidated loss may concern investors. The strong revenue growth signals business scale-up, but profitability remains elusive. The clean audit opinion removes going-concern uncertainty in the near term.