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With this investment, Sarrthi IAS has officially become a subsidiary of PhysicsWallah, according to a regulatory filing submitted to the stock exchange.
The investment is part of the second tranche of PhysicsWallah’s acquisition of Guiding Light Education Technologies Private Limited, the company that operates the Sarrthi IAS brand. PhysicsWallah had acquired an initial 40% stake in the company last year and has now secured a majority stake through this latest investment.
PhysicsWallah Strengthens Its Presence in UPSC Education
With this acquisition, PhysicsWallah has significantly strengthened its position in India's rapidly growing UPSC and Civil Services test preparation market. The company said it will work closely with the Sarrthi IAS management team to enhance academic excellence, learner outcomes and technology-driven education.
According to PhysicsWallah, the partnership will help expand Sarrthi IAS’s reach across the country by leveraging digital innovation, advanced technology, and high-quality educational content.
Plans to Acquire 85% Stake by FY31
The company stated that under the Share Purchase Agreement signed with Guiding Light Education Technologies and its promoters in September 2025, PhysicsWallah plans to increase its ownership in Sarrthi IAS to 85% by FY31 through multiple investment tranches. The acquisition will be completed based on predefined performance parameters and an EBITDA-linked valuation mechanism.
As part of the second tranche, PhysicsWallah acquired 1,100 equity shares, representing an additional 11% stake, for a total consideration of ₹71.81 crore.
Sarrthi IAS Delivers Strong FY26 Performance
Sarrthi IAS has emerged as one of the leading platforms for UPSC Civil Services and other competitive examination preparation, offering both online and offline learning programmes.
In FY26, the company reported revenue of approximately ₹77 crore (₹76.52 crore) and profit after tax (PAT) of around ₹39 crore. This marks significant growth compared to ₹28.46 crore in FY25 and ₹1.04 crore in FY24. The company's net worth stood at ₹33.96 crore at the end of FY26.
PhysicsWallah Continues Strong Business Growth
PhysicsWallah also reported strong operational performance during Q4 FY26, with its consolidated revenue increasing by 51% year-on-year. During the quarter, the company's online education business grew by 43.7%, while its offline education segment expanded by 53.9%, reflecting continued growth across both digital and physical learning platforms.
Focus on Technology-Driven UPSC Learning
PhysicsWallah believes that its partnership with Sarrthi IAS will provide UPSC aspirants with better-quality content, advanced digital learning tools, improved test preparation resources and a more technology-enabled learning experience. The company also plans to integrate Artificial Intelligence (AI) and other emerging technologies to make competitive exam preparation more effective and personalised.
Strategic Consolidation in India's EdTech Sector
Industry experts believe that India's competitive examination market continues to witness strong growth, encouraging EdTech companies to strengthen their presence through strategic partnerships and acquisitions. PhysicsWallah's majority acquisition of Sarrthi IAS is seen as an important step in this direction.
The acquisition is expected to strengthen PhysicsWallah's position in the UPSC and civil services preparation segment while making high-quality, technology-enabled and accessible education available to a larger number of aspirants across the country.
