Physics Wallah had quite the financial leap in FY23! The revenue increase to Rs 798 crore, a significant rise from the previous year, speaks volumes about their growth. With expenses reaching Rs 777 crore, mainly driven by employee costs, this expansion also suggests increased investment in manpower and infrastructure.
Their online and offline student enrollment skyrocketed, reaching 24 lakh in FY23. The substantial cash reserves of nearly Rs 750 crore and successful fundraising of $100 million during the year further illustrate their financial robustness and investor confidence.
The company's approach seems focused on expansion, targeting various educational categories and emphasizing community, quality, and affordability. The reported partnerships and acquisitions made during FY23, anticipated to add around Rs 500 crore in revenue for FY24, indicate a strategic move to broaden their offerings and market presence.
Although the adjusted EBITDA slightly dipped to Rs 127 crore from Rs 134 crore in FY22, the emphasis remains on reinvesting free cash flows back into the business for expansion and impact, as emphasized by PW’s Founder and CEO, Alakh Pandey.
Overall, it appears that Physics Wallah is consolidating its position, focusing on growth and diversification across multiple educational domains, backed by strong financials and strategic investments.
(With Agency Inputs)
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