{"id":6507,"date":"2025-06-24T00:49:29","date_gmt":"2025-06-24T00:49:29","guid":{"rendered":"https:\/\/smartinfovision.com\/blogs\/?p=6507"},"modified":"2025-06-23T07:53:34","modified_gmt":"2025-06-23T07:53:34","slug":"physics-wallah-%e0%a4%95%e0%a5%80-financial-%e0%a4%95%e0%a4%b9%e0%a4%be%e0%a4%a8%e0%a5%80-%e0%a4%98%e0%a4%be%e0%a4%9f%e0%a4%be-%e0%a4%a8%e0%a4%b9%e0%a5%80%e0%a4%82-%e0%a4%8f%e0%a4%95-%e0%a4%b0","status":"publish","type":"post","link":"https:\/\/smartinfovision.com\/blogs\/physics-wallah-%e0%a4%95%e0%a5%80-financial-%e0%a4%95%e0%a4%b9%e0%a4%be%e0%a4%a8%e0%a5%80-%e0%a4%98%e0%a4%be%e0%a4%9f%e0%a4%be-%e0%a4%a8%e0%a4%b9%e0%a5%80%e0%a4%82-%e0%a4%8f%e0%a4%95-%e0%a4%b0\/","title":{"rendered":"Physics Wallah \u0915\u0940 Financial \u0915\u0939\u093e\u0928\u0940: \u0918\u093e\u091f\u093e \u0928\u0939\u0940\u0902, \u090f\u0915 \u0930\u0923\u0928\u0940\u0924\u093f\u0915 \u0928\u093f\u0935\u0947\u0936 \u2013 Downfall ya Strategy?"},"content":{"rendered":"\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"youtube-embed\" data-video_id=\"kz0QI6mpToE\"><iframe title=\"Physics Wallah \u0915\u093e Downfall \u0936\u0941\u0930\u0942 \u0939\u094b \u091a\u0941\u0915\u093e \u0939\u0948? Case Study | Physics Wallah 1100 CRORE Loss\ud83e\udd2f\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/kz0QI6mpToE?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Introduction<\/strong><\/h3>\n\n\n\n<p>\u0905\u092c \u0924\u0915 \u0906\u092a\u0928\u0947 \u0938\u0941\u0928\u093e \u0939\u094b\u0917\u093e \u0915\u093f FY24 \u092e\u0947\u0902 Physics Wallah \u0915\u094b \u20b91131 \u0915\u0930\u094b\u0921\u093c \u0915\u093e \u0918\u093e\u091f\u093e \u0939\u0941\u0906\u0964 News \u0938\u0941\u0928\u0924\u0947 \u0939\u0940 \u0938\u092c\u0915\u094b \u090f\u0915 \u0939\u0940 \u092c\u093e\u0924 \u0938\u0942\u091d\u0940 \u2013 &#8220;\u0915\u094d\u092f\u093e \u092f\u0947 \u0915\u0902\u092a\u0928\u0940 \u0921\u0942\u092c \u0930\u0939\u0940 \u0939\u0948?&#8221; \u0932\u0947\u0915\u093f\u0928 \u091c\u093c\u0930\u093e \u0930\u0941\u0915\u093f\u090f \u2013 \u091c\u092c \u0906\u092a \u0907\u0938\u0915\u0940 \u0917\u0939\u0930\u093e\u0908 \u092e\u0947\u0902 \u091c\u093e\u090f\u0902\u0917\u0947, \u0924\u094b \u092a\u093e\u090f\u0902\u0917\u0947 \u0915\u093f \u092f\u0947 \u0918\u093e\u091f\u093e \u0905\u0938\u0932 \u092e\u0947\u0902 \u090f\u0915 \u092c\u0921\u093c\u093e \u0930\u0923\u0928\u0940\u0924\u093f\u0915 \u0928\u093f\u0935\u0947\u0936 \u0939\u0948, \u0928 \u0915\u093f \u0915\u094b\u0908 \u0928\u0941\u0915\u093c\u0938\u093e\u0928 \u0915\u0940 \u0915\u0939\u093e\u0928\u0940\u0964<\/p>\n\n\n\n<p>Physics Wallah \u091c\u0948\u0938\u0940 company \u091c\u094b education \u0915\u094b \u0939\u0930 \u0918\u0930 \u0924\u0915 \u092a\u0939\u0941\u0902\u091a\u093e\u0928\u093e \u091a\u093e\u0939\u0924\u0940 \u0939\u0948, \u0909\u0938\u0915\u0947 \u0932\u093f\u090f infrastructure, teacher training, hybrid learning model \u0914\u0930 tech investment \u091c\u0948\u0938\u0947 \u0915\u0908 \u092a\u0939\u0932\u0942 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902, \u091c\u093f\u0928\u092e\u0947\u0902 upfront cost \u092c\u0939\u0941\u0924 \u091c\u093c\u094d\u092f\u093e\u0926\u093e \u0939\u094b\u0924\u0940 \u0939\u0948\u0964 \u092f\u0939\u0940 cost accounting \u092e\u0947\u0902 loss \u0915\u0940 \u0924\u0930\u0939 \u0926\u093f\u0916\u0924\u0940 \u0939\u0948, \u0932\u0947\u0915\u093f\u0928 long-term \u092e\u0947\u0902 \u0935\u0939\u0940 success \u0915\u093e foundation \u092c\u0928\u0924\u0940 \u0939\u0948\u0964<\/p>\n\n\n\n<p>\u0907\u0938 \u092c\u094d\u0932\u0949\u0917 \u092e\u0947\u0902 \u0939\u092e \u0938\u092e\u091d\u0947\u0902\u0917\u0947 \u0915\u093f \u092f\u0947 \u091c\u094b \u0918\u093e\u091f\u0947 \u0915\u0940 \u092c\u093e\u0924 \u092b\u0948\u0932\u0940 \u0939\u0948, \u0935\u094b \u0938\u091a\u094d\u091a\u093e\u0908 \u0938\u0947 \u0915\u093f\u0924\u0928\u093e \u0926\u0942\u0930 \u0939\u0948 \u0914\u0930 \u0905\u0938\u0932\u093f\u092f\u0924 \u092e\u0947\u0902 Physics Wallah \u0915\u0948\u0938\u0947 \u0905\u092a\u0928\u0947 expansion \u0915\u0947 \u0930\u093e\u0938\u094d\u0924\u0947 \u092a\u0930 \u092e\u091c\u092c\u0942\u0924\u0940 \u0938\u0947 \u091a\u0932 \u0930\u0939\u093e \u0939\u0948\u0964<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Perception of Loss<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u0906\u092e \u091c\u0928\u0924\u093e \u092e\u0947\u0902 \u092f\u0939 \u0927\u093e\u0930\u0923\u093e \u092c\u0928 \u0917\u0908 \u0939\u0948 \u0915\u093f Physics Wallah financial \u0930\u0942\u092a \u0938\u0947 \u0921\u0942\u092c \u0930\u0939\u0940 \u0939\u0948\u0964<\/li>\n\n\n\n<li>\u091c\u092c\u0915\u093f \u0938\u091a \u092f\u0947 \u0939\u0948 \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0915\u0940 revenue FY23 \u092e\u0947\u0902 \u20b9744 \u0915\u0930\u094b\u0921\u093c \u0938\u0947 \u092c\u0922\u093c\u0915\u0930 FY24 \u092e\u0947\u0902 \u20b91940 \u0915\u0930\u094b\u0921\u093c \u0939\u094b \u0917\u0908 \u2013 \u092f\u093e\u0928\u093f <strong>2.6x growth<\/strong>\u0964<\/li>\n\n\n\n<li>\u0907\u0924\u0928\u0947 \u091c\u093c\u092c\u0930\u0926\u0938\u094d\u0924 growth \u0915\u0947 \u092c\u093e\u0926 \u092d\u0940 \u20b91131 \u0915\u0930\u094b\u0921\u093c \u0915\u093e \u0918\u093e\u091f\u093e \u0930\u093f\u092a\u094b\u0930\u094d\u091f \u0915\u0930\u0928\u093e \u0932\u094b\u0917\u094b\u0902 \u0915\u094b confused \u0915\u0930 \u0917\u092f\u093e\u0964<\/li>\n\n\n\n<li>Media headlines \u0928\u0947 \u0938\u093f\u0930\u094d\u092b number highlight \u0915\u093f\u092f\u093e, context \u092f\u093e explanation \u0928\u0939\u0940\u0902 \u0926\u0940, \u091c\u093f\u0938\u0938\u0947 \u0932\u094b\u0917\u094b\u0902 \u0915\u094b \u0932\u0917\u093e \u0915\u093f \u092f\u0947 downfall \u0939\u0948\u0964<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What\u2019s the Reality Behind This Loss?<\/strong><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\">1. Non-Cash Loss (CCPS)<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u0907\u0938 \u0918\u093e\u091f\u0947 \u092e\u0947\u0902 \u0938\u0947 \u20b9756 \u0915\u0930\u094b\u0921\u093c \u0915\u093e \u0939\u093f\u0938\u094d\u0938\u093e \u090f\u0915 &#8220;non-cash loss&#8221; \u0939\u0948 \u2013 CCPS (Compulsorily Convertible Preference Shares)\u0964<\/li>\n\n\n\n<li>\u092f\u093e\u0928\u093f \u092f\u0947 \u0938\u093f\u0930\u094d\u092b \u0915\u093e\u0917\u091c\u093c\u0940 \u0918\u093e\u091f\u093e \u0939\u0948, \u0905\u0938\u0932\u0940 bank account \u0938\u0947 \u0915\u094b\u0908 \u092a\u0948\u0938\u093e \u0928\u0939\u0940\u0902 \u0928\u093f\u0915\u0932\u093e\u0964<\/li>\n\n\n\n<li>\u092f\u0939 valuation-based accounting entry \u0939\u0948 \u091c\u094b investor shares \u0915\u0940 pricing \u0938\u0947 \u091c\u0941\u0921\u093c\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948\u0964<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">2. Employee &amp; Expansion Cost<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u092a\u093f\u091b\u0932\u0947 \u0938\u093e\u0932 \u20b9412 \u0915\u0930\u094b\u0921\u093c \u0938\u0947 employee \u0916\u0930\u094d\u091a \u20b91158 \u0915\u0930\u094b\u0921\u093c \u0939\u094b \u0917\u092f\u093e \u2013 \u092f\u093e\u0928\u093f 180% \u0915\u0940 \u092c\u0922\u093c\u094b\u0924\u0930\u0940\u0964<\/li>\n\n\n\n<li>\u092f\u0939 \u0916\u0930\u094d\u091a \u0938\u093f\u0930\u094d\u092b salary \u0915\u093e \u0928\u0939\u0940\u0902, \u092c\u0932\u094d\u0915\u093f teachers \u0915\u0940 training, content creation, \u0914\u0930 support teams \u092a\u0930 \u0939\u0941\u0906 \u0939\u0948\u0964<\/li>\n\n\n\n<li>\u092a\u0942\u0930\u0947 \u092d\u093e\u0930\u0924 \u092e\u0947\u0902 offline center \u0916\u094b\u0932\u0928\u0947 \u0914\u0930 hybrid model launch \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f manpower investment \u091c\u0930\u0942\u0930\u0940 \u0925\u093e\u0964<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">3. ESOPs (Employee Stock Ownership Plans)<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u20b9151 \u0915\u0930\u094b\u0921\u093c ESOP \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u0916\u0930\u094d\u091a \u0939\u0941\u090f \u2013 \u092f\u0947 \u092d\u0940 non-cash expense \u0939\u0948 \u091c\u094b loyalty \u092c\u0922\u093c\u093e\u0924\u093e \u0939\u0948\u0964<\/li>\n\n\n\n<li>\u0907\u0938\u0938\u0947 employees \u0915\u094b ownership \u092e\u093f\u0932\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0935\u0947 long-term commitment \u0938\u0947 \u091c\u0941\u0921\u093c\u0924\u0947 \u0939\u0948\u0902\u0964<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/smartinfovision.com\/blogs\/wp-content\/uploads\/2025\/06\/image-50-1024x683.jpg\" alt=\"\" class=\"wp-image-6500\" srcset=\"https:\/\/smartinfovision.com\/blogs\/wp-content\/uploads\/2025\/06\/image-50-1024x683.jpg 1024w, https:\/\/smartinfovision.com\/blogs\/wp-content\/uploads\/2025\/06\/image-50-300x200.jpg 300w, https:\/\/smartinfovision.com\/blogs\/wp-content\/uploads\/2025\/06\/image-50-768x512.jpg 768w, https:\/\/smartinfovision.com\/blogs\/wp-content\/uploads\/2025\/06\/image-50-1536x1024.jpg 1536w, https:\/\/smartinfovision.com\/blogs\/wp-content\/uploads\/2025\/06\/image-50-630x420.jpg 630w, https:\/\/smartinfovision.com\/blogs\/wp-content\/uploads\/2025\/06\/image-50-1260x840.jpg 1260w, https:\/\/smartinfovision.com\/blogs\/wp-content\/uploads\/2025\/06\/image-50-150x100.jpg 150w, https:\/\/smartinfovision.com\/blogs\/wp-content\/uploads\/2025\/06\/image-50-600x400.jpg 600w, https:\/\/smartinfovision.com\/blogs\/wp-content\/uploads\/2025\/06\/image-50-696x464.jpg 696w, https:\/\/smartinfovision.com\/blogs\/wp-content\/uploads\/2025\/06\/image-50-1392x928.jpg 1392w, https:\/\/smartinfovision.com\/blogs\/wp-content\/uploads\/2025\/06\/image-50-1068x712.jpg 1068w, https:\/\/smartinfovision.com\/blogs\/wp-content\/uploads\/2025\/06\/image-50.jpg 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\">4. 12+ Startups \u0915\u093e Acquisition<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Physics Wallah \u0928\u0947 12 \u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e startups acquire \u0915\u093f\u090f \u2013 \u091c\u093f\u0938\u0938\u0947 short-term loss \u0926\u093f\u0916\u0924\u093e \u0939\u0948, \u092a\u0930 future \u092e\u0947\u0902 \u092f\u0947 market \u0915\u094b consolidate \u0915\u0930\u0947\u0917\u093e\u0964<\/li>\n\n\n\n<li>\u092f\u0947 startups \u0905\u0932\u0917-\u0905\u0932\u0917 segments \u092e\u0947\u0902 \u0915\u093e\u092e \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902: test prep, doubt solving, video content, \u0914\u0930 tech tools\u0964<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">5. Hybrid Model \u0914\u0930 Offline Centers<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Hybrid model \u0915\u094b establish \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f company \u0928\u0947 \u0926\u0947\u0936\u092d\u0930 \u092e\u0947\u0902 offline centers \u0916\u094b\u0932\u0947 \u2013 \u091c\u093f\u0938\u092e\u0947\u0902 \u092c\u0939\u0941\u0924 investment \u0932\u0917\u0924\u093e \u0939\u0948\u0964<\/li>\n\n\n\n<li>Real estate lease, center furnishing, teaching setup \u2013 \u092f\u0947 \u0938\u092c upfront expenses \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964<\/li>\n\n\n\n<li>\u092f\u0939 \u0915\u0926\u092e \u091b\u093e\u0924\u094d\u0930\u094b\u0902 \u0915\u094b personalised \u0914\u0930 local touch \u0926\u0947\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u091c\u0930\u0942\u0930\u0940 \u0939\u0948\u0964<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Why So Much Public Confusion?<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u0936\u0941\u0930\u0941\u0906\u0924 \u092e\u0947\u0902 media \u0928\u0947 \u0938\u093f\u0930\u094d\u092b \u20b91131 \u0915\u0930\u094b\u0921\u093c \u0915\u0947 \u0918\u093e\u091f\u0947 \u0915\u0940 \u0916\u092c\u0930 \u0926\u093f\u0916\u093e\u0908 \u2013 background \u0914\u0930 reason \u0915\u0947 \u092c\u093f\u0928\u093e\u0964<\/li>\n\n\n\n<li>\u0932\u094b\u0917 revenue, student growth \u0914\u0930 valuation \u0915\u0947 \u092c\u0940\u091a \u092f\u0947 \u0918\u093e\u091f\u093e \u0926\u0947\u0916 \u0915\u0930 \u0918\u092c\u0930\u093e \u0917\u090f\u0964<\/li>\n\n\n\n<li>Non-cash losses \u0914\u0930 investment logic \u0915\u094b \u0915\u094b\u0908 \u0928\u0939\u0940\u0902 \u0938\u092e\u091d \u092a\u093e\u092f\u093e\u0964<\/li>\n\n\n\n<li>Company \u0915\u093e adjusted EBITDA \u092f\u093e ESOP explanation \u0906\u092e \u091c\u0928\u0924\u093e \u0924\u0915 \u0928\u0939\u0940\u0902 \u092a\u0939\u0941\u0902\u091a\u093e, \u091c\u093f\u0938\u0938\u0947 negative narrative \u092c\u0928 \u0917\u092f\u093e\u0964<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Adjusted EBITDA<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>EBITDA \u092f\u093e\u0928\u093f <strong>Earnings Before Interest, Taxes, Depreciation, and Amortization<\/strong> \u2013 \u0905\u0938\u0932\u0940 operations \u0938\u0947 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u093e profit \u092c\u0924\u093e\u0924\u093e \u0939\u0948\u0964<\/li>\n\n\n\n<li>\u0905\u0917\u0930 \u0906\u092a CCPS, ESOP \u091c\u0948\u0938\u0947 non-cash \u0916\u0930\u094d\u091a \u0939\u091f\u093e \u0926\u0947\u0902 \u0924\u094b Physics Wallah \u0915\u093e adjusted EBITDA <strong>\u20b967 \u0915\u0930\u094b\u0921\u093c \u0915\u093e profit<\/strong> \u0926\u093f\u0916\u093e\u0924\u093e \u0939\u0948\u0964<\/li>\n\n\n\n<li>\u092f\u093e\u0928\u0940 \u0915\u0902\u092a\u0928\u0940 \u0905\u0938\u0932 \u092e\u0947\u0902 loss \u092e\u0947\u0902 \u0928\u0939\u0940\u0902, \u092c\u0932\u094d\u0915\u093f core operations \u092e\u0947\u0902 profitable \u0939\u0948\u0964<\/li>\n\n\n\n<li>\u0907\u0938\u0915\u093e \u092e\u0924\u0932\u092c \u0939\u0948 \u0915\u093f \u091c\u094b \u0916\u0930\u094d\u091a \u0926\u093f\u0916 \u0930\u0939\u0947 \u0939\u0948\u0902, \u0935\u094b asset \u092c\u0928\u093e \u0930\u0939\u0947 \u0939\u0948\u0902 \u2013 \u091c\u0948\u0938\u0947 teacher base, technology stack, \u0914\u0930 brand value\u0964<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Key Financial Metrics <\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Revenue:<\/strong> \u20b9744 Cr (FY23) \u2192 \u20b91940 Cr (FY24)<\/li>\n\n\n\n<li><strong>Reported Loss:<\/strong> \u20b91131 Cr<\/li>\n\n\n\n<li><strong>Non-Cash Loss (CCPS):<\/strong> \u20b9756 Cr<\/li>\n\n\n\n<li><strong>Employee Expenses:<\/strong> \u20b91158 Cr (\u2191 from \u20b9412 Cr)<\/li>\n\n\n\n<li><strong>ESOP Expense:<\/strong> \u20b9151 Cr<\/li>\n\n\n\n<li><strong>Adjusted EBITDA:<\/strong> \u20b967 Cr Profit<\/li>\n\n\n\n<li><strong>Valuation:<\/strong> $2.8 Billion<\/li>\n\n\n\n<li><strong>Funding Raised:<\/strong> $210 Million (Series B)<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Founder Vision | <\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Alakh Pandey \u0936\u093f\u0915\u094d\u0937\u093e \u092a\u0930 \u092b\u094b\u0915\u0938 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902, \u0914\u0930 Prateek Maheshwari technology \u0924\u0948\u092f\u093e\u0930 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964<\/li>\n\n\n\n<li>\u0926\u094b\u0928\u094b\u0902 \u0915\u0940 partnership \u0928\u0947 \u090f\u0915 \u092e\u091c\u092c\u0942\u0924 vision \u0915\u094b \u091c\u092e\u0940\u0928 \u092a\u0930 \u0909\u0924\u093e\u0930\u093e \u0939\u0948 \u2013 online + offline \u0926\u094b\u0928\u094b\u0902 \u0926\u0941\u0928\u093f\u092f\u093e \u092e\u0947\u0902 expansion\u0964<\/li>\n\n\n\n<li>PW \u0915\u093e goal \u0938\u093f\u0930\u094d\u092b digital revenue \u0928\u0939\u0940\u0902, \u092c\u0932\u094d\u0915\u093f holistic education ecosystem \u092c\u0928\u093e\u0928\u093e \u0939\u0948 \u2013 \u091c\u093f\u0938\u092e\u0947\u0902 India \u0915\u0947 \u0939\u0930 \u0936\u0939\u0930 \u092e\u0947\u0902 \u090f\u0915 presence \u0939\u094b\u0964<\/li>\n\n\n\n<li>\u0935\u0947 \u091a\u093e\u0939\u0924\u0947 \u0939\u0948\u0902 \u0915\u093f \u0939\u0930 category \u0915\u0947 student \u0924\u0915 affordable, quality education \u092a\u0939\u0941\u0902\u091a\u0947 \u2013 \u091a\u093e\u0939\u0947 \u0935\u094b YouTube \u0926\u0947\u0916\u0924\u093e \u0939\u094b \u092f\u093e offline center \u091c\u093e\u0924\u093e \u0939\u094b\u0964<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Educators \u0914\u0930 Startups \u0915\u0947 \u0932\u093f\u090f \u0938\u0940\u0916 | What You Can Learn<\/strong><\/h3>\n\n\n\n<ol class=\"wp-block-list\">\n<li>\u0939\u0930 \u0918\u093e\u091f\u093e \u092c\u0941\u0930\u093e \u0928\u0939\u0940\u0902 \u0939\u094b\u0924\u093e \u2013 \u0915\u0941\u091b losses strategic investments \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964<\/li>\n\n\n\n<li>Startups \u0915\u0947 \u092a\u0939\u0932\u0947 3\u20135 \u0938\u093e\u0932 tough \u0939\u094b\u0924\u0947 \u0939\u0948\u0902 \u2013 \u0924\u092c foundation \u092c\u0928\u0924\u0940 \u0939\u0948\u0964<\/li>\n\n\n\n<li>CCPS, ESOP \u091c\u0948\u0938\u0940 accounting terms \u0915\u094b \u0938\u092e\u091d\u0928\u093e \u091c\u0930\u0942\u0930\u0940 \u0939\u0948\u0964<\/li>\n\n\n\n<li>Strong co-founder partnership \u0938\u0947 \u0915\u093e\u092e \u0906\u0938\u093e\u0928 \u0939\u094b\u0924\u093e \u0939\u0948\u0964<\/li>\n\n\n\n<li>\u0905\u092a\u0928\u093e content \u0936\u0941\u0930\u0942 \u0915\u0930\u094b \u2013 YouTube, PDF, live classes \u2013 \u091c\u094b \u092c\u0928 \u092a\u0921\u093c\u0947 \u0935\u0939\u0940 \u0938\u0947 \u0936\u0941\u0930\u0942 \u0915\u0930\u094b\u0964<\/li>\n\n\n\n<li>Company \u0915\u093e vision clear \u0939\u094b\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u2013 short-term profit \u0928\u0939\u0940\u0902, long-term impact \u091c\u093c\u0930\u0942\u0930\u0940 \u0939\u0948\u0964<\/li>\n\n\n\n<li>\u0905\u092a\u0928\u0947 teachers \u0914\u0930 team \u092e\u0947\u0902 ownership \u0926\u094b \u2013 ESOP \u0938\u0947 motivation \u0914\u0930 loyalty \u0926\u094b\u0928\u094b\u0902 \u092c\u0922\u093c\u0924\u0947 \u0939\u0948\u0902\u0964<\/li>\n\n\n\n<li>Expansion \u0915\u0947 \u0932\u093f\u090f bold decision \u0932\u0947\u0928\u093e \u092a\u0921\u093c\u0947\u0917\u093e \u2013 \u091c\u0948\u0938\u0947 offline model \u092f\u093e acquisitions\u0964<\/li>\n<\/ol>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Conclusion<\/strong><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"937\" height=\"360\" src=\"https:\/\/smartinfovision.com\/blogs\/wp-content\/uploads\/2025\/06\/360_F_216474335_2XtucurPR8OJc2QUZ59pyPMNXAjnpVci.jpg\" alt=\"\" class=\"wp-image-6508\" srcset=\"https:\/\/smartinfovision.com\/blogs\/wp-content\/uploads\/2025\/06\/360_F_216474335_2XtucurPR8OJc2QUZ59pyPMNXAjnpVci.jpg 937w, https:\/\/smartinfovision.com\/blogs\/wp-content\/uploads\/2025\/06\/360_F_216474335_2XtucurPR8OJc2QUZ59pyPMNXAjnpVci-300x115.jpg 300w, https:\/\/smartinfovision.com\/blogs\/wp-content\/uploads\/2025\/06\/360_F_216474335_2XtucurPR8OJc2QUZ59pyPMNXAjnpVci-768x295.jpg 768w, https:\/\/smartinfovision.com\/blogs\/wp-content\/uploads\/2025\/06\/360_F_216474335_2XtucurPR8OJc2QUZ59pyPMNXAjnpVci-150x58.jpg 150w, https:\/\/smartinfovision.com\/blogs\/wp-content\/uploads\/2025\/06\/360_F_216474335_2XtucurPR8OJc2QUZ59pyPMNXAjnpVci-600x231.jpg 600w, https:\/\/smartinfovision.com\/blogs\/wp-content\/uploads\/2025\/06\/360_F_216474335_2XtucurPR8OJc2QUZ59pyPMNXAjnpVci-696x267.jpg 696w\" sizes=\"(max-width: 937px) 100vw, 937px\" \/><\/figure>\n\n\n\n<p>\u0926\u0947\u0916\u093e \u091c\u093e\u090f \u0924\u094b Physics Wallah \u0915\u093e \u20b91131 \u0915\u0930\u094b\u0921\u093c \u0915\u093e \u0918\u093e\u091f\u093e \u0938\u093f\u0930\u094d\u092b \u090f\u0915 accounting \u0928\u0902\u092c\u0930 \u0939\u0948 \u2013 \u091c\u093f\u0938\u092e\u0947\u0902 \u0938\u0947 \u092c\u0921\u093c\u093e \u0939\u093f\u0938\u094d\u0938\u093e non-cash losses, ESOP, \u0914\u0930 strategic acquisitions \u0915\u0947 \u0915\u093e\u0930\u0923 \u0939\u0948\u0964<\/p>\n\n\n\n<p>Reality \u092f\u0939 \u0939\u0948 \u0915\u093f \u0915\u0902\u092a\u0928\u0940 \u0928\u0947 revenue \u092e\u0947\u0902 2.6 \u0917\u0941\u0928\u093e growth \u0915\u093f\u092f\u093e \u0939\u0948, student base \u092c\u0922\u093c\u093e\u092f\u093e \u0939\u0948, 12 startups acquire \u0915\u093f\u090f \u0939\u0948\u0902, \u0914\u0930 offline centers \u0916\u094b\u0932\u0915\u0930 hybrid model \u0915\u094b ground \u092a\u0930 \u0932\u093e\u092f\u093e \u0939\u0948\u0964 \u0938\u093e\u0925 \u0939\u0940 adjusted EBITDA \u20b967 \u0915\u0930\u094b\u0921\u093c profit \u092e\u0947\u0902 \u0939\u0948 \u2013 \u091c\u094b \u092c\u0924\u093e\u0924\u093e \u0939\u0948 \u0915\u093f business core \u092e\u091c\u092c\u0942\u0924 \u0939\u0948\u0964<\/p>\n\n\n\n<p>\u0906\u091c \u0915\u093e loss \u0915\u0932 \u0915\u0940 learning \u0914\u0930 growth \u0939\u0948\u0964 \u091c\u092c \u0915\u094b\u0908 company vision \u0915\u0947 \u0938\u093e\u0925 build \u0915\u0930 \u0930\u0939\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948, \u0924\u094b \u0909\u0938\u0947 upfront \u092a\u0948\u0938\u093e \u0932\u0917\u093e\u0928\u093e \u092a\u0921\u093c\u0924\u093e \u0939\u0948 \u2013 \u0914\u0930 \u0935\u0939\u0940 Physics Wallah \u0915\u0930 \u0930\u0939\u0940 \u0939\u0948\u0964<\/p>\n\n\n\n<p>\ud83d\udc49 \u092f\u0939 downfall \u0928\u0939\u0940\u0902, \u092c\u0932\u094d\u0915\u093f \u090f\u0915 visionary company \u0915\u0940 growth journey \u0939\u0948 \u2013 \u091c\u093f\u0938\u0938\u0947 future founders \u0914\u0930 educators \u092c\u0939\u0941\u0924 \u0915\u0941\u091b \u0938\u0940\u0916 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964<\/p>\n\n\n\n<p><strong>Physics Wallah is not failing \u2013 it&#8217;s building. And building fast.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>More Reading &amp; Sources<\/strong> &#8211; <\/h3>\n\n\n\n<p>How to make Custom Brand name Background | Create a Professional Branded Background @SmartInfovision&nbsp; \u2013&nbsp;<a href=\"https:\/\/blogs.smartinfovision.com\/custom-brand-name-background\/\">https:\/\/blogs.smartinfovision.com\/custom-brand-name-background\/<\/a><\/p>\n\n\n\n<p>Video \u0915\u0947 \u0928\u0940\u091a\u0947 \u091c\u094b \u092a\u091f\u094d\u091f\u0940 \u091a\u0932\u0924\u0940 \u0939\u0948 \u0906\u0913 \u091c\u093e\u0928\u0924\u0947 \u0915\u0948\u0938\u0947 \u0906\u092a \u092c\u0928\u093e \u0938\u0915\u0924\u0947 \u0939\u0948 | Create Video Scroll Bars \u2013&nbsp;<a href=\"https:\/\/blogs.smartinfovision.com\/create-video-scroll-bars\/\">https:\/\/blogs.smartinfovision.com\/create-video-scroll-bars\/<\/a><\/p>\n\n\n\n<p>Samsung Interactive Flat Panel or ViewSonic Interactive Flat Panel | Best Digital Board in India \u2013&nbsp;<a href=\"https:\/\/blogs.smartinfovision.com\/samsung-viewsonic-interactive-flat-panel-india\/\">https:\/\/blogs.smartinfovision.com\/samsung-viewsonic-interactive-flat-panel-india\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Introduction \u0905\u092c \u0924\u0915 \u0906\u092a\u0928\u0947 \u0938\u0941\u0928\u093e \u0939\u094b\u0917\u093e \u0915\u093f FY24 \u092e\u0947\u0902 Physics Wallah \u0915\u094b \u20b91131 \u0915\u0930\u094b\u0921\u093c \u0915\u093e \u0918\u093e\u091f\u093e \u0939\u0941\u0906\u0964 News \u0938\u0941\u0928\u0924\u0947 \u0939\u0940 \u0938\u092c\u0915\u094b \u090f\u0915 \u0939\u0940 \u092c\u093e\u0924 \u0938\u0942\u091d\u0940 \u2013 &#8220;\u0915\u094d\u092f\u093e \u092f\u0947 \u0915\u0902\u092a\u0928\u0940 \u0921\u0942\u092c \u0930\u0939\u0940 \u0939\u0948?&#8221; \u0932\u0947\u0915\u093f\u0928 \u091c\u093c\u0930\u093e \u0930\u0941\u0915\u093f\u090f \u2013 \u091c\u092c \u0906\u092a \u0907\u0938\u0915\u0940 \u0917\u0939\u0930\u093e\u0908 \u092e\u0947\u0902 \u091c\u093e\u090f\u0902\u0917\u0947, \u0924\u094b \u092a\u093e\u090f\u0902\u0917\u0947 \u0915\u093f \u092f\u0947 \u0918\u093e\u091f\u093e \u0905\u0938\u0932 \u092e\u0947\u0902 \u090f\u0915 \u092c\u0921\u093c\u093e \u0930\u0923\u0928\u0940\u0924\u093f\u0915 \u0928\u093f\u0935\u0947\u0936 \u0939\u0948, \u0928 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6509,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3026],"tags":[3212,3214,3220,3216,3215,3219,3228,651,3227,3225,3210,3222,3213,3223,3217,3226,3221,3218,3224,3211],"class_list":{"0":"post-6507","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business-growth-strategy","8":"tag-adjusted-ebitda","9":"tag-alakh-pandey-vision","10":"tag-business-strategy-in-edtech","11":"tag-ccps-explanation","12":"tag-edtech-india","13":"tag-esop-india","14":"tag-fy24-financial-report","15":"tag-hybrid-learning-model","16":"tag-indian-unicorns","17":"tag-media-perception-vs-reality","19":"tag-physics-wallah-growth","20":"tag-physics-wallah-loss","21":"tag-pw-business-model","22":"tag-pw-fy24-report","23":"tag-revenue-vs-loss-analysis","24":"tag-startup-case-study","25":"tag-startup-loss-vs-investment","26":"tag-startup-valuation","27":"tag-strategic-investment"},"_links":{"self":[{"href":"https:\/\/smartinfovision.com\/blogs\/wp-json\/wp\/v2\/posts\/6507","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/smartinfovision.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/smartinfovision.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/smartinfovision.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/smartinfovision.com\/blogs\/wp-json\/wp\/v2\/comments?post=6507"}],"version-history":[{"count":1,"href":"https:\/\/smartinfovision.com\/blogs\/wp-json\/wp\/v2\/posts\/6507\/revisions"}],"predecessor-version":[{"id":6511,"href":"https:\/\/smartinfovision.com\/blogs\/wp-json\/wp\/v2\/posts\/6507\/revisions\/6511"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/smartinfovision.com\/blogs\/wp-json\/wp\/v2\/media\/6509"}],"wp:attachment":[{"href":"https:\/\/smartinfovision.com\/blogs\/wp-json\/wp\/v2\/media?parent=6507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/smartinfovision.com\/blogs\/wp-json\/wp\/v2\/categories?post=6507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/smartinfovision.com\/blogs\/wp-json\/wp\/v2\/tags?post=6507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}