Physicswala recorded a 153% surge in its paid user base in FY25, reaching 4.46 million compared to FY23. Daily active users reached 2.7 million, and the average online collection was ₹3,682.79. The company has expanded its educational portfolio, built a multi-channel education ecosystem, and commenced preparations for an IPO.
Physicswala IPO: Education platform Physicswala increased its paid user base to 4.46 million in FY25, marking a 153% rise from 1.76 million in FY23. Daily active users grew to 2.7 million, and the average online collection rose to ₹3,682.79. The company has ventured into 13 education categories, established 198 physical centers across 109 cities in India and the Middle East, and has begun preparations for an IPO.
Growth in Users and Engagement in FY25
According to the company, 4.13 million unique transacting users joined through online channels in FY25. Concurrently, Physicswala expanded its educational portfolio by entering 13 distinct education categories. Daily Active Users (DAU) surged from 0.93 million in FY23 to 2.7 million. The average engagement time for students also increased from 93 minutes to 111 minutes.
Physicswala's Average Collection Per User (ACPU) has increased to ₹3,682.79 in FY25. This clearly indicates that the company is not only growing its user base but also strengthening their engagement on the platform and their ability to pay.
Journey Began on YouTube
Physicswala began its educational journey with free YouTube courses. By July 15, 2025, its primary YouTube channel 'Physics Wallah – Alakh Pandey' had garnered 13.7 million subscribers. By June 2025, Physicswala's digital presence had expanded to 207 YouTube channels, reaching 98.8 million subscribers. This growth occurred at a Compound Annual Growth Rate (CAGR) of 41.8% between FY23 and FY25.
Thus, Physicswala has evolved from offering free YouTube content to creating a multi-channel education ecosystem. This includes online platforms, tech-enabled offline centers, and a hybrid two-teacher classroom model.
Physical and Digital Expansion
By March 2025, Physicswala was operating 198 physical centers across 109 cities in India and the Middle East. Additionally, the company's 14 mobile apps had been downloaded 64.5 million times by March 2025. In this way, Physicswala has strengthened its reach through both digital and physical channels.
Foray into Professional Skills and Upskilling
Physicswala is now also expanding into professional skill development and upskilling courses. Under this initiative, apps such as PW MedEd (for NEET PG), PW Curious Jr. (for early learners), and Utkarsh (for government exams) have been launched. This move is propelling the company towards covering the entire education lifecycle.
The company states that these new initiatives will provide students with enhanced learning opportunities, from early education to higher education and professional courses. Simultaneously, they will further increase the platform's diversity and scale.
Physicswala's Role in Digital Education
Physicswala has established a significant position in the digital education sector. The platform, which began with free YouTube content, has now witnessed a remarkable surge in the number of paying students. With a growing user base, high engagement time, and a diverse course portfolio, Physicswala is progressing towards stable and sustainable growth in the education sector.
