Physicswallah Limited has informed the Exchange about Shareholders Letter on financial results for the quarter and financial year ended March 31, 2026.
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Physicswallah reported strong FY26 results with revenue of ₹3,900 Cr, up 35% YoY, driven by 20% growth in paid users to 5.34 million. The company achieved a significant turnaround, with EBITDA margin expanding to 14% from 7% in FY25, and Pre-IndAS EBITDA reaching ₹300 Cr (7.7% margin) versus ₹94 Cr (3.2%) previously. Most notably, the company turned profitable at PBT level with ₹10 Cr profit versus a loss of ₹259 Cr in FY25. Cash flow from operations surged 64% to ₹833 Cr, and the treasury stands at ₹5,027 Cr including IPO proceeds. Q4 FY26 revenue was ₹919 Cr (51% YoY), though seasonally weak as expected given the business cycle. The company highlighted its AI-first strategy, with proprietary models like Aryabhata and ConceptGuru, and 91% AI-assisted code in engineering. Vishwas Diwas 2026 sales were up 36% YoY, providing early visibility into FY27 demand.
The sharp margin expansion and return to profitability demonstrate operating leverage is kicking in, while the strong cash generation and treasury position provide financial flexibility. The robust Vishwas Diwas performance signals solid demand heading into FY27.