PhysicsWallah Hits $24M in 20 Days as Students Rush Online

While many edtech companies struggle, one Indian startup just showed that affordable education still wins big.

PhysicsWallah collected Rs 205 crore (about $24 million) in just 20 days during its annual Vishwas Diwas enrollment period ending March 20, 2026. That's a 36% jump from last year.

The numbers tell a story of genuine demand. Over 4.39 lakh students enrolled during the 20-day window, with students joining from 1,579 new pin codes across India. These weren't just students from major cities. Kids from every state in the country tuned in, showing how digital learning can reach beyond traditional education hubs.

Co-founder Prateek Maheshwari says the early momentum points to stronger conversions and better unit economics. The students who enrolled will attempt their target exams next calendar year, giving them months to prepare through the platform's courses.

PhysicsWallah built its reputation on affordability. While competitors chase premium pricing, this company focuses on making quality test prep accessible to middle-class Indian families. The approach is clearly working.

The recent performance continues a profitable streak. Last month, the company reported Q3 FY26 operating revenue of Rs 1,082.4 crore with Rs 102.3 crore in profit. For the first nine months of FY26, revenue hit Rs 2,980.7 crore, up 31% year over year.

The Ripple Effect

This growth means something bigger than business metrics. When 4.39 lakh students enroll in test prep courses, that's 4.39 lakh families investing in upward mobility through education. Many of these students are attempting competitive exams like JEE and NEET that open doors to engineering and medical careers.

The company's 22% EBITDA margin shows you can run a profitable edtech business without sky-high prices. That sustainability matters because it means PhysicsWallah can keep serving students for years to come without burning through investor cash or raising prices dramatically.

The expansion into 1,579 new pin codes is particularly meaningful. These are areas that previously had limited access to quality test preparation. Now students in smaller towns have the same resources as their big-city peers.

Over 34 lakh students watched Vishwas Diwas content across social media, showing the company's reach extends far beyond paying customers. That kind of brand trust takes years to build.

At a time when expensive education feels out of reach for many families, PhysicsWallah proves another path exists.