PhysicsWallah Limited has announced amendments to its Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information, following approval by the Board of Directors on February 05, 2026. The regulatory filing was submitted to both the National Stock Exchange of India Limited and BSE Limited in compliance with SEBI insider trading regulations.

Board Meeting Details

The Board meeting was conducted on Thursday, February 05, 2026, with specific timing details provided for transparency:

The communication was signed by Ajinkya Jain, Group General Counsel, Company Secretary & Compliance Officer, with membership number A33261.

Revised Code Framework

The amended code establishes comprehensive procedures for handling unpublished price sensitive information (UPSI) in accordance with SEBI regulations. The framework designates the Company Secretary and Compliance Officer as the Chief Investor Relations Officer (CIRO), responsible for timely and uniform dissemination of information.

Key Provisions

The revised code includes several critical components:

• Prompt Public Disclosure: UPSI must be disclosed to stock exchanges and disseminated continuously as soon as credible information becomes available
• Universal Dissemination: Information will be shared uniformly through stock exchanges and the company's official website at https://www.pw.live/investor-relations
• Need-to-Know Basis: UPSI handling restricted to legitimate purposes, performance of duties, or legal obligations
• Analyst Interactions: Only public information provided to analysts, with simultaneous public disclosure if UPSI is shared

Legitimate Purpose Guidelines

The code includes detailed operating guidelines for determining legitimate purposes for UPSI sharing. These guidelines establish principles for assessment:

Approved Sharing Categories

The code identifies specific categories where UPSI sharing may be considered legitimate:

• Business and commercial requirements with partners, lenders, and suppliers
• Professional advice from auditors, legal advisors, and consultants
• Regulatory and governmental compliance requirements
• Strategic transactions including mergers and acquisitions
• Contractual obligations and group reporting needs

Compliance and Documentation Requirements

The amended code establishes strict documentation and compliance protocols. All UPSI recipients must be informed of their insider status and confidentiality obligations through written agreements. The company will maintain a structured digital database (SDD) containing details of information sharing, preserved for at least eight years.

Digital Database Specifications

The CIRO oversees all public disclosures and ensures compliance with the guidelines. Any deviations must be reported to the Audit Committee, while exceptions require Board of Directors approval.

Regulatory Context

This amendment aligns with Regulation 8(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, which mandates listed companies to formulate fair disclosure codes. The revised framework ensures PhysicsWallah Limited maintains transparency while protecting sensitive business information.

The updated code will be published on the company's website and communicated to relevant stock exchanges as required by regulatory guidelines.

Source:

PhysicsWallah has announced strong Q3FY26 financial results, demonstrating exceptional growth momentum with revenue reaching ₹10.82 billion and consolidated net profit of ₹1.02 billion. The edtech company has achieved a significant milestone by surpassing its full FY25 revenue within the first nine months of FY26, showcasing robust operational execution and market expansion.

Financial Performance Overview

The company's Q3FY26 results showcase impressive growth across key metrics, with revenue from operations growing 34% year-over-year to ₹10.82 billion from ₹8.10 billion in Q3FY25. Consolidated net profit reached ₹1.02 billion, representing a 33% increase from ₹767 million in the corresponding quarter of the previous year.

Nine-Month Performance and User Growth

For the nine months ended December 31, 2025, PhysicsWallah achieved revenue of ₹29.81 billion, marking a 31% year-over-year increase. The company's user base expanded significantly with total paid users reaching 4.37 million, up 21% from 3.60 million in 9M FY25. Online enrollments grew 20% to 3.96 million users, while offline student enrollments surged 36% to 0.41 million.

Operational Expansion and Infrastructure Growth

PhysicsWallah has significantly expanded its physical presence with 318 centers as of December 31, 2025, compared to 186 centers in 9M FY25. The network includes 122 PW Vidyapeeth centers, 75 PW Pathshala centers, 53 other PW centers, and 68 subsidiary centers. The company has also expanded its course offerings to 16 categories, adding 3 new categories in Q3FY26.

Strong Financial Position and Cash Generation

The company maintains a robust treasury position of ₹50.54 billion, including IPO proceeds, as of December 31, 2025. Cash flow from operations for 9M FY26 reached ₹6.43 billion, compared to ₹5.07 billion for the full year FY25. This strong cash generation capability supports the company's expansion plans and strategic investments.

Strategic Initiatives and Technology Integration

PhysicsWallah continues to invest in artificial intelligence with initiatives including AI Guru, Ask AI, AI Grader, AI Mentor, and AI Books. The company launched PW Talks, an AI-driven English-speaking app that has recorded over 1 million sign-ups. The platform's vernacular expansion into Marathi, Bangla, Gujarati, Kannada, and Odia languages has generated approximately 90,000 enrollments within nine months.

The strong Q3FY26 performance, combined with successful market expansion and technology integration, positions PhysicsWallah for continued growth in India's competitive edtech landscape while maintaining operational excellence and financial discipline.