CAMPUS - Campus Activewe.
📢 Recent Corporate Announcements
Campus Activewear Limited has scheduled an in-person interaction with institutional investors and analysts at the Nuvama India Conference 2026. The event is set to take place on February 10, 2026, in Mumbai between 11:00 AM and 6:00 PM IST. The company has explicitly stated that no unpublished price sensitive information (UPSI) will be discussed during these meetings. Such interactions are part of the company's routine investor relations activities to maintain transparency with the market.
- Event: Participation in the Nuvama India Conference 2026 in Mumbai
- Date and Time: February 10, 2026, from 11:00 AM to 6:00 PM IST
- Meeting Type: In-person interaction with institutional investors and analysts
- Compliance: Disclosure made under Regulation 30 of SEBI (LODR) Regulations, 2015
Campus Activewear delivered a robust Q3 FY26 performance with revenue growing 14.3% YoY to INR 589 crores, driven by strong execution in online channels (up 18%) and distribution (up 9%). Profit After Tax (PAT) jumped 37% YoY to INR 63.7 crores, supported by an EBITDA margin expansion of 290 bps to 19.5%. The company is successfully executing a premiumization strategy, with Average Selling Price (ASP) rising 5.2% to INR 711 and sneaker volumes doubling during the period. Furthermore, the company has diversified its portfolio by entering the athleisure apparel market in January 2026.
- Revenue grew 14.3% YoY to INR 589 crores with 8.3 million pairs sold in Q3 FY26.
- PAT increased by 37% YoY to INR 63.7 crores, while EBITDA margins reached 19.5%.
- Average Selling Price (ASP) rose to INR 711, supported by a doubling of sneaker volumes which carry a higher ASP of ~INR 900.
- Women's and kids' segment revenue share improved to 22% from 18.7% in the previous year.
- Strategic entry into Athleisure apparel and commencement of premium upper production at the Pant Nagar facility in January 2026.
Campus Activewear has officially released the audio recording of its earnings conference call for the quarter and nine months ended December 31, 2025. The call was held on February 2, 2026, to discuss the company's un-audited financial performance with analysts and institutional investors. This disclosure is a standard regulatory requirement under SEBI (LODR) Regulations to ensure transparency. Investors can access the recording via the company's website to gain insights into management's commentary on the footwear sector.
- Audio recording for Q3 and 9M FY26 earnings call is now available for public access.
- The earnings call was conducted on February 2, 2026, following the announcement of un-audited results.
- Filing is in compliance with Regulation 30 and 46 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- The recording provides direct access to management's responses to institutional investor queries.
Campus Activewear reported a strong Q3 FY26 with revenue growing 14.3% YoY to INR 588.6 Cr, driven by an 8.6% increase in sales volume and a 5.2% rise in Average Selling Price (ASP) to INR 711. Profitability saw a significant boost as PAT jumped 37.0% YoY to INR 63.7 Cr, while EBITDA margins expanded by 290 bps to 19.5%. The company also announced a strategic expansion into the athleisure apparel segment in January 2026 and the commencement of premium upper production at its Pant Nagar facility. This performance reflects successful premiumization and improved operational efficiencies.
- Revenue grew 14.3% YoY to INR 588.6 Cr in Q3 FY26, with sales volume reaching 8.3 million pairs.
- PAT increased by 37.0% YoY to INR 63.7 Cr, with PAT margins expanding 175 bps to 10.7%.
- EBITDA margins improved significantly to 19.5% from 16.6% YoY, aided by premiumization and channel growth.
- Average Selling Price (ASP) rose 5.2% YoY to INR 711, supported by a doubling of the sneaker portfolio.
- Strategic entry into the athleisure apparel market and commencement of production at the Pant Nagar facility in Jan 2026.
Campus Activewear reported a strong performance for Q3 FY26, with revenue growing 14.3% YoY to ₹588.6 crore. Profitability saw a significant boost as EBITDA margins expanded to 19.5% from 16.6% in the previous year, leading to a PAT of ₹63.7 crore. Sales volumes increased by 8.6% YoY to 8.3 million pairs, supported by the launch of over 600 new designs. The company's Direct-to-Consumer (D2C) channel now accounts for 50.6% of total revenue, indicating a successful shift towards higher-margin sales channels.
- Revenue from operations increased 14.3% YoY to ₹588.6 crore in Q3 FY26.
- EBITDA grew to ₹115.8 crore with margins expanding by 290 bps to 19.5%.
- Profit After Tax (PAT) reached ₹63.7 crore, up from ₹46.5 crore in Q3 FY25.
- Sales volume grew 8.6% YoY to 8.3 million pairs during the quarter.
- D2C channel contribution rose to 50.6% of revenue vs 48.2% in the same period last year.
Campus Activewear reported a strong financial performance for the quarter ended December 31, 2025, with revenue from operations growing 14.3% YoY to ₹588.61 crore. The company's net profit saw a significant jump of 37% YoY, reaching ₹63.68 crore compared to ₹46.47 crore in the previous year's corresponding quarter. Profitability margins improved as Profit Before Tax (PBT) rose to ₹86.06 crore from ₹62.64 crore. For the nine-month period ended December 2025, the company has achieved a total revenue of ₹1,318.49 crore and a PAT of ₹105.95 crore.
- Revenue from operations increased by 14.3% YoY to ₹588.61 crore in Q3 FY26.
- Net Profit (PAT) grew by 37% YoY to ₹63.68 crore from ₹46.47 crore.
- Earnings Per Share (EPS) for the quarter rose to ₹2.08 from ₹1.52 YoY.
- Nine-month (9M FY26) PAT stands at ₹105.95 crore on revenue of ₹1,318.49 crore.
- Total expenses for the quarter were managed at ₹508.05 crore against ₹455.86 crore in Q3 FY25.
Campus Activewear Limited has scheduled its earnings conference call for Q3 and 9MFY26 on Monday, February 2, 2026, at 4:30 PM IST. The company will release its financial results for the quarter and nine months ended December 31, 2025, on the same day. The call will be led by CEO Nikhil Aggarwal and CFO Sanjay Chhabra, featuring an interactive Q&A session. This disclosure is part of the company's routine regulatory compliance under SEBI LODR regulations.
- Earnings call scheduled for February 2, 2026, at 4:30 PM IST.
- Financial results for Q3 and 9MFY26 to be released on the same day.
- Management team including CEO Nikhil Aggarwal and CFO Sanjay Chhabra will participate.
- Dial-in details provided for domestic and international investors from USA, UK, Singapore, and HK.
Campus Activewear has allotted 62,873 equity shares to employees following the exercise of options under its 2021 ESOP plans. This allotment has marginally increased the company's total paid-up share capital to 30,55,93,205 equity shares. Additionally, the company granted 69,000 new options to one employee at an exercise price of Rs. 197.16 per share, vesting over a four-year period. These actions are part of the company's standard employee retention and incentive strategy.
- Allotted 62,873 equity shares of Rs. 5 face value to employees upon exercise of vested options.
- Total paid-up equity share capital increased from Rs. 152.76 crore to Rs. 152.80 crore.
- Exercise prices for the allotted shares were set at Rs. 5, Rs. 82.12, and Rs. 197.16 across different schemes.
- Granted 69,000 new options to a single employee at Rs. 197.16 per share under the Vision Pool scheme.
- The new options will vest at a rate of 25% per year over a 4-year period.
Campus Activewear Limited has allotted 62,873 equity shares to employees upon the exercise of options under its 2021 ESOP plans. The allotment consists of shares issued at exercise prices of Rs. 82.12, Rs. 197.16, and Rs. 5.00. This action has increased the company's total paid-up equity share capital to Rs. 152.80 crore, comprising 30,55,93,205 shares. Additionally, the company announced a new grant of 69,000 options to a single employee at an exercise price of Rs. 197.16.
- Allotment of 62,873 equity shares of face value Rs. 5 each to eligible employees.
- Exercise prices for the allotment ranged from a low of Rs. 5.00 to a high of Rs. 197.16 per share.
- Total paid-up equity capital increased from 30,55,30,332 to 30,55,93,205 shares.
- New grant of 69,000 stock options approved for one employee at Rs. 197.16 per share.
- The equity dilution resulting from this allotment is negligible at approximately 0.02%.
Campus Activewear Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by MUFG Intime India Private Limited, confirms that no requests for dematerialization of securities were received during the quarter ended December 31, 2025. This is a standard administrative filing required by SEBI to ensure the integrity of shareholding records. Such filings are routine for listed entities and do not reflect any change in business fundamentals.
- Compliance certificate submitted for the quarter ended December 31, 2025.
- Registrar MUFG Intime India Private Limited confirmed zero dematerialization requests received.
- The filing adheres to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018.
- Document confirms no security certificates were required to be mutilated or cancelled during this period.
Campus Activewear Limited has announced the closure of its trading window for all designated persons starting January 1, 2026. This move is in accordance with SEBI Insider Trading regulations ahead of the financial results for the quarter and nine months ending December 31, 2025. The window will remain closed until 48 hours after the official declaration of these results. This is a standard regulatory procedure to prevent insider trading during the sensitive period before earnings are public.
- Trading window closure effective from Thursday, January 1, 2026.
- Closure pertains to financial results for the quarter and nine months ending December 31, 2025.
- Restriction ends 48 hours after the results are officially declared to the exchanges.
- Applies to all Directors, Designated Persons, Insiders, and their immediate relatives.
Financial Performance
Revenue Growth by Segment
Total revenue reached INR 1,592.96 Cr in FY25, a 9.99% increase from INR 1,448.29 Cr in FY24. In Q2 FY26, the Distribution channel grew by 20% YoY, while the Online channel saw a 6% growth, contributing to a total quarterly revenue of INR 386.6 Cr (up 16% YoY).
Geographic Revenue Split
North and East regions are the primary contributors, accounting for more than 50% of total revenue. The company is actively expanding in the South and West regions to diversify its geographic footprint and insulate against regional consumer preference shifts.
Profitability Margins
Net Profit (PAT) margin improved to 7.54% in FY25 (INR 121.18 Cr) from 6.18% in FY24 (INR 89.44 Cr). Q2 FY26 PAT stood at INR 20.1 Cr, representing a 40.4% YoY increase, driven by better operational efficiencies and volume growth.
EBITDA Margin
EBITDA margin for FY25 was 16.07% (INR 258.22 Cr) compared to 14.87% in FY24. In Q2 FY26, EBITDA grew 32.3% YoY to INR 55.0 Cr, though margins are expected to stabilize between 15-17% over the medium term as the company balances marketing spends and raw material costs.
Capital Expenditure
The company has planned a capital expenditure of approximately INR 230 Cr over FY26 and FY27. This investment is directed toward increasing manufacturing capacity for footwear uppers and assembly lines to support projected growth for the next two years.
Credit Rating & Borrowing
The company maintains a strong credit profile with an interest coverage ratio of 12.96 times in FY25. Gearing remained low at less than 0.50 times, supported by a net worth of over INR 743 Cr and minimal utilization of working capital lines (4% average utilization).
Operational Drivers
Raw Materials
Key raw materials include chemicals for soles and fabrics/materials for footwear uppers. While specific % of total cost is not disclosed, the company uses price-locking contracts to mitigate volatility in these inputs.
Import Sources
Not specifically disclosed in the available documents, though the company emphasizes in-house manufacturing at its Ganaur and Haridwar units to reduce external sourcing dependency.
Capacity Expansion
Current sales volume reached 2.49 crore pairs in FY25. Planned expansion includes a INR 230 Cr capex for FY26-27 to increase captive production of uppers and assembly capacity, aiming to improve margins through backward integration.
Raw Material Costs
Raw material costs are managed through a 'regulated price pass-through' strategy to end consumers. The company is increasing captive production of uppers to reduce procurement costs and improve the material margin, which was recently impacted by a 0.4% headwind during the Haridwar 2 plant ramp-up.
Manufacturing Efficiency
Efficiency is driven by the Ganaur in-house sole unit and the rapid ramp-up of the Haridwar 2 plant. Captive production of uppers is a key lever for expected margin improvement to the 15-17% range.
Logistics & Distribution
Distribution is handled through a mix of trade channels (growing at 20%) and D2C. The company encourages channel partners to use cash discounts for timely payments to optimize the receivables cycle.
Strategic Growth
Expected Growth Rate
10%+
Growth Strategy
Growth will be achieved through a double-digit revenue target supported by the expansion of the premium segment, increasing the count of 250 Exclusive Brand Outlets (EBOs), and a Go-To-Market (GTM) export strategy starting with high-quality partners in Sri Lanka.
Products & Services
Footwear, specifically sports and athleisure shoes, ranging from affordable to mid-luxury segments, including a growing premium portfolio.
Brand Portfolio
Campus
New Products/Services
Expansion of the 'Premium Segment' is a core focus, bolstered by distribution strength and capacity expansion, though specific revenue contribution % for new launches is not quantified.
Market Expansion
Targeting increased presence in South and West India to balance the current North/East concentration. Export markets are being entered via a branded GTM strategy rather than simple trading.
Market Share & Ranking
The company is noted for a 'healthy market position' in the footwear industry, competing with major players like Bata and Relaxo.
Strategic Alliances
The company has tied up with a high-quality partner in Sri Lanka for its export debut.
External Factors
Industry Trends
The industry is seeing a shift toward premiumization and organized retail. Campus is positioning itself by expanding its EBO footprint and premium product range to capture this 10-15% industry growth trend.
Competitive Landscape
Intense competition from established players like Bata, Liberty, Lancer, and Relaxo (Sparx), as well as growing pressure from international brands.
Competitive Moat
The moat is built on a four-decade-long promoter experience, strong brand recall, and a backward-integrated manufacturing model that allows for cost control and design flexibility, which is difficult for unorganized players to replicate.
Macro Economic Sensitivity
The business is sensitive to macroeconomic shifts and consumer spending power in the affordable to mid-luxury footwear segments.
Consumer Behavior
Shifting preferences toward 'athleisure' and premium footwear; Campus is responding by diversifying its product portfolio and increasing its online presence (6% growth).
Geopolitical Risks
Exposure to international brands entering the Indian market and potential trade barriers for export expansion into regions like Sri Lanka.
Regulatory & Governance
Industry Regulations
Operations are governed by the Companies Act 2013 and Indian Accounting Standards (Ind AS). The company maintains an Internal Financial Control (IFC) system to ensure compliance and asset safeguarding.
Taxation Policy Impact
The company incurred tax expenses of INR 42.76 Cr in FY25, up from INR 30.59 Cr in FY24, following the increase in Profit Before Tax.
Legal Contingencies
The company affirms that there have been no instances of fraud requiring the reporting of material misstatements in operations as of the FY25 report.
Risk Analysis
Key Uncertainties
Stretched working capital cycles and inventory management remain key monitorables, as higher lead times for multiple channels can trap cash.
Geographic Concentration Risk
Over 50% of revenue is concentrated in the North and East regions of India.
Third Party Dependencies
While backward integrated, the company still faces risks from the 'price sensitivity' of its target segment which limits its ability to offset third-party raw material spikes.
Technology Obsolescence Risk
Risk of competitive designs and changing customer preferences; mitigated by an in-house design team and rapid manufacturing cycles.
Credit & Counterparty Risk
Receivables are influenced by sales to large format stores with higher credit periods; mitigated by encouraging channel partners to take cash discounts for early payment.