Physicswallah

“We are on track to deliver the overall revenue and the EBITDA growth numbers which we have stated earlier.”

“As committed at the start of the year, we are holding ourselves accountable to closing the year at PAT positive for the full year, for the remaining H1 and H2 put together.”

“We believe we will continue to take a very balanced expansion in terms of our offline, with focus there on the Vidyapeeth business turning EBITDA positive this year.”

“But we are not very sure that NEET specific category, how much delta will be covered, but we are quite confident on annual guidance, which we have given.”

“In terms of margin, online margins, we are confident that we will deliver as we guided.”

“We will also be allocating capital to our south expansion and AI tutor, our personalized AI tutor, though these will not be substantial given that we have created a solid playbook of creating YT funnel and launching categories around it.”

“there's a near zero capital allocation in terms of these courses delivery because this will be 100% digital universities”

“Talking about online, the Q2 revenue is INR694 crores, up 26.4%. Pre-Ind AS EBITDA is INR239 crores, up by 47.2% at a 34.4% margin.”

“Five states, 15 million students, and an online-first playbook. Approximately 10% of the revenue, actually 9% of H1 revenue is coming from South.”

“Our first half core online business grew at 34%, and overall business growth at 28%.”

“K-12 continues to grow for us. Collection growth pegged at almost 49%.”

“Our PW Skills and Earners program grew 10 times as compared to last year.”

“demand to recover over the medium to long term, supported by the anticipated transition to a computer-based examination format in FY 2028 and the structural expansion of India's medical education system.”

“Categories beyond JEE NEET contributed 73.8% of H1 enrollments, up from 64.8%.”

“I believe on NEET is that it's going to make a strong recovery as we go into the next academic session.”

“we have more than six million paid learners every year, and a distribution of more than 100 million learners.”

“Q2 unique enrollments are up by 12.9% to 1.5 million and 3.44 million unique transacting users or students, up from 3.22 million.”

“Our employee costs without ESOP costs were lower by 2.3% as compared to last year quarter, and at H1 level, lower by 2.4%.”

“Our marketing spends for first half were INR216 crores against INR202 crores”

“We will continue to see leverage on this as we improve ROCE and build efficiencies in our newer categories and initiatives.”

“Our overall tech spends for H1 were INR104 crores as compared to INR70 crores last year”

“the online EBITDA margins, of course, we can increase. We would have increased this year as well, but we are right now investing on AI tutor as well.”

“As of September 30 this year, our treasury is INR5,268 crores, including IPO proceeds of INR1,800 crores.”

“it is in line with the original plan of INR300 crore of IPO capital, IPO fundraise for unidentified M&As, which we wanted to do in three years of time.”

“Another big milestone in the company's journey is we got PW Digital University Incorporated, and it is India's first greenfield digital university, which will solve for our forward integration.”

“A small update around FinZ that the INR96 crores of outstanding loan book is sold to Auxilo Finserve.”

“We also acquired 11% in Sarrthi IAS, translating to INR71 crores, with that transaction getting consummated in this quarter.”

“Depending on board approvals, we are confident of closing a few of them in this quarter.”

“Going forward, student lending will be offered through regulated third-party NBFCs. FinZ Finance will continue as an RBI-registered NBFC until the closure process, which is subject to RBI approval.”

“There is one miss, that is the government exams enrollment, down by 24% because of the vacancies and the forms not coming out.”

“Full cycle online NEET collections are still 7% below last year, with enrollments 13% lower.”

“the dependence in Xylem, which is 80% NEET, is taking time because they do not have any other categories to recover.”

“The online, if you see, online contribution of NEET is 15% only.”

“Another offline thing has happened is the government exam notification, which has adversely affected one of our subsidiaries, which is Utkarsh Classes.”

“The Q2 revenue is INR1,242 crores, which is up by 18% year-on-year.”

“The Pre-Ind AS EBITDA is INR233 crores, which is up by 45% at an 18.8% margin.”

“PAT is positive. It is INR142 crores, doubled year-on-year.”

“Talking about H1, H1 swung to a INR55 crores profit from a INR57 crores loss on a 21% revenue growth.”

“So, in Q3 and Q4, we'll be launching crash courses, mega crash courses for NEET, both in online and as well as in offline, and we hope to cover some of this delta.”