Physics Wallah IPO is coming… but its financials are raising eyebrows. 👀 FY25 shows a ₹243 Cr loss, but add back depreciation and suddenly EBITDA turns +₹123 Cr! Revenue jumped from ₹1,940 Cr to ₹2,886 Cr — massive 1.5x growth. IPO is valuing the company at ₹31,500 Cr… almost 10x last year’s revenue. But issue size is just ₹3,480 Cr — largely fresh issue (a good signal). PW is on the path to profitability… but not fully there yet. Is this another Zomato/Paytm repeat? Or a hidden gem in the making? Drop your thoughts below! 💬📉📈 #FinanceWithFacts #IPOBuzz #PhysicsWallahIPO #StartupIndia #BusinessBreakdown #FounderTalks #MarketInsights #Investing101 #FinanceReels #FINANCE #business