Campus Activewear Limited (CAMPUS)
₹202.79 +2.93% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Campus Activewear's revenue was ₹385 Cr, and net profit ₹26.1 Cr; the operating margin was 14.2%.
| Q1 FY27 (₹ Cr) | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹385 | — | — |
| Operating profit | ₹54.7 | — | — |
| Net profit | ₹26.1 | — | — |
| EPS (₹) | 0.86 | — | — |
| Operating margin | 14.2% | — | — |
CAMPUS delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 44.21% of the CAMPUS shares traded on NSE were taken to delivery, against the stock's own 20-session average of 49.57%. That is close to its usual level. It traded 3.0 times its average daily volume.
Delivery in the last 5 sessions: 48.9% · 55.0% · 53.2% · 47.8% · 44.2%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Campus Activewear Limited announced the appointment of Ms. Akshita Kathuria as Senior General Manager – Investor Relations, effective September 16, 2026. The appointment is aimed at strengthening the company's investor engagement and communication channels. The company noted that this disclosure is not mandated under Regulation 30 of SEBI LODR but was filed as good corporate governance practice. Financially, this does not have any direct operational or P&L impact on the Rs 6,482 Cr market cap company.
- Appointment of Ms. Akshita Kathuria as Senior General Manager – Investor Relations.
- Effective date of appointment is 16th September 2026.
- Filing made under voluntary corporate governance practices, outside mandatory Regulation 30 requirements.
Campus Activewear Limited has been assigned an independent ESG score of 'Crisil ESG 61' by CRISIL ESG Ratings & Analytics Limited, a SEBI-registered Category 1 provider. The company clarified that it did not formally engage CRISIL for this evaluation, and the rating was derived entirely from public disclosures. This disclosure is informational and has no direct impact on debt servicing, credit facilities, or financial performance.
- Received 'Crisil ESG 61' ESG score
- Assigned by CRISIL ESG Ratings & Analytics Limited, a SEBI-registered Category 1 ESG Rating Provider
- Company did not engage CRISIL ESG; assessment was independently conducted based on public disclosures
- Disclosure submitted on 10th September 2026 under Regulation 30 of SEBI LODR
Campus Activewear Limited has informed the exchanges of its scheduled participation in the UBS India Summit on September 10, 2026, from 10:00 AM to 6:00 PM IST. The in-person institutional investor interaction will take place in Mumbai, India. The company confirmed that no unpublished price sensitive information (UPSI) will be shared during the meeting.
- Event: UBS India Summit in Mumbai, India
- Scheduled date: 10th September 2026 from 10:00 AM to 6:00 PM IST
- Meeting format: In-person interaction with institutional investors and analysts
- Confirmed that no unpublished price sensitive information (UPSI) will be discussed
Campus Activewear Limited submitted the scrutinizer's report for its 18th Annual General Meeting held on August 20, 2026. All 8 resolutions were approved by shareholders with the requisite majority, including the adoption of FY26 financial statements and declaration of the final dividend. Notably, Resolution 8 regarding the modification of the ESOP 2021 - Vision Pool faced significant pushback from public institutional shareholders (91.49% institutional votes against), but passed overall with 84.21% total favorable votes backed by 100% promoter support.
- All 8 resolutions passed with requisite majority at the 18th AGM held on August 20, 2026
- Final dividend for FY26 formally approved with 100% voting in favor across 26.67 crore votes polled
- Resolution 8 (ESOP 2021 Vision Pool modification) saw 4.21 crore institutional votes against (91.49% of institutional votes polled)
- Re-appointments of 4 Independent Directors and Director Nikhil Aggarwal were cleared with over 99.9% overall approval
- Total voting turnout represented 87.26% of outstanding shares (26.67 crore votes polled out of 30.57 crore total shares)
Campus Activewear Limited conducted its 18th Annual General Meeting on August 20, 2026, via video conferencing with 220 members in attendance. Ordinary business items tabled included the adoption of FY26 financial statements, declaration of final dividend, and the re-appointment of Whole-time Director Nikhil Aggarwal. Special resolutions put to vote covered the re-appointment of four Non-Executive Independent Directors and modifications to the Employee Stock Option Plan 2021 (Vision Pool). Final voting results will be announced separately following scrutinizer tallying.
- 18th AGM held on August 20, 2026, with 220 members attending through Video Conferencing.
- Shareholders deliberated on 8 agenda items including the declaration of FY26 final dividend.
- Special business included re-appointment of 4 independent directors and modification of ESOP Plan 2021 – Vision Pool.
- Remote e-voting was conducted between August 17, 2026, and August 19, 2026, alongside meeting-based e-voting.
Campus Activewear Limited has appointed Mr. Rakesh Thakur as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective August 17, 2026. Mr. Thakur brings over 22 years of finance experience across consumer companies, having previously served as Group CFO at Imagine Marketing Limited (boAt) and held leadership roles at Hindustan Unilever, GSK Consumer Healthcare, Samsung India, and PepsiCo. Following the appointment, the company updated its list of four authorized KMPs for determining disclosure materiality under Regulation 30(5).
- Appointment of Mr. Rakesh Thakur as Chief Financial Officer & KMP effective August 17, 2026.
- Brings over 22 years of professional experience across consumer and multinational companies.
- Previous tenure includes Group CFO at Imagine Marketing (boAt) alongside senior roles at HUL, GSK, Samsung, and PepsiCo.
- Four Key Managerial Personnel authorized to determine event materiality under SEBI LODR Regulation 30(5).
Campus Activewear Limited has appointed Mr. Rakesh Thakur as its Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective August 17, 2026. Mr. Thakur, aged 49, brings over 22 years of finance leadership experience from consumer and multinational companies. Prior to joining Campus, he served as Group CFO at Imagine Marketing Limited (boAt) and held senior finance roles at Hindustan Unilever, GSK Consumer Healthcare, Samsung India, and PepsiCo. His appointment comes as the company continues to execute its premiumization and margin-improvement strategies across its Rs 1,489 Cr TTM revenue base.
- Appointment of Mr. Rakesh Thakur as Chief Financial Officer & KMP effective August 17, 2026
- Mr. Thakur brings over 22 years of corporate finance, controllership, and supply chain finance experience
- Previously served as Group CFO at Imagine Marketing Limited (boAt) alongside prior stints at HUL, GSK, and PepsiCo
- Board meeting approving the appointment concluded within 6 minutes (02:08 PM to 02:14 PM on August 17, 2026)
Campus Activewear has appointed Mr. Rakesh Thakur as its Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective August 17, 2026. Mr. Thakur brings over 22 years of experience across consumer and FMCG brands, having previously served as Group CFO at Imagine Marketing Limited (boAt) and in senior finance leadership roles at Hindustan Unilever, GSK Consumer Healthcare, Samsung India, and PepsiCo. The appointment was approved by the Board following recommendations from the Audit Committee and the Nomination & Remuneration Committee.
- Appointed Mr. Rakesh Thakur as Chief Financial Officer and KMP effective August 17, 2026
- New CFO brings over 22 years of corporate finance, controllership, and supply chain finance experience
- Previously served as Group CFO at Imagine Marketing (boAt) and held leadership roles at HUL, GSK, Samsung, and PepsiCo
- Board meeting commenced at 02:08 P.M. and concluded at 02:14 P.M. on August 17, 2026
Campus Activewear reported a 12.2% YoY revenue growth and 11.7% volume growth for Q1 FY27, maintaining stable EBITDA margins at 15.9%. The company successfully implemented an 8% MRP increase in April 2026 to offset rising raw material and labor costs, with management noting minimal volume resistance. While blended Average Selling Price (ASP) was temporarily suppressed by accounting changes and a 50% surge in lower-priced school shoes, underlying ASP in core categories rose by 5%. The company recorded its highest-ever production in July 2026, signaling strong inventory buildup for the upcoming festive season.
- Revenue and volume grew by 12.2% and 11.7% YoY respectively in Q1 FY27.
- Implemented an 8% MRP increase across key product categories effective April 1, 2026.
- School shoes category revenue surged by nearly 50% YoY, though it diluted blended ASP by 2%.
- Brand.com (D2C) sales grew by over 100% during the quarter, showing strong direct consumer traction.
- Recorded highest-ever monthly production in July 2026 to prepare for festive demand.
Campus Activewear has released the audio recording of its earnings call for the quarter ended June 30, 2026. This procedural filing allows investors to access management's detailed commentary on the Q1 FY27 financial performance. The company is currently in a growth phase, targeting 10%+ revenue growth and executing a Rs 230 Cr capex plan for FY26-27. This recording is a key resource for understanding the progress of their backward integration and expansion into South and West India.
- Earnings call held on August 6, 2026, for the quarter ended June 30, 2026
- Company is executing a Rs 230 Cr capex plan for FY26-27 to increase captive production
- Targeting a double-digit revenue growth rate of 10% or more
- Sales volume reached 2.49 crore pairs in FY25
- Promoter holding remains stable at 72.09% as of March 2026
C a m p u s A c ti v e w e a r d e li v e r e d a s o li d Q1 F Y27 w i t h r e v e n u e g r o w i n g 12.2% Y o Y t o ₹385.2 C r, d r i v e n b y a 11.7% i n c r e a s e i n s a l e s v o l u m e. P r o fi t a f t e r t a x (P A T) r o s e 17.7% Y o Y t o ₹26.14 C r, o u t p a c i n g r e v e n u e g r o w t h d u e t o a 20 b p s m a r g i n e x p a n si o n. D e s p i t e fl a t A v e r a g e S e ll i n g P r i c e s (A S P) o f ₹674 a n d r i s i n g l a b o r c o s t s, E B I T D A m a r g i n s r e m a i n e d r e s i li e n t a t 15.9%. T h e c o m p a n y i s p r o a c ti v e l y b u i l d i n g i n v e n t o r y, r e c o r d i n g i t s h i g h e s t-e v e r Q1 p r o d u c ti o n v o l u m e s.
- R e v e n u e f r o m o p e r a ti o n s i n c r e a s e d 12.2% Y o Y t o ₹385.2 C r, r e p r e s e n ti n g ~26.8% o f T T M r e v e n u e
- P A T s u r g e d 17.7% Y o Y t o ₹26.14 C r w i t h m a r g i n s i m p r o v i n g t o 6.6%
- S a l e s v o l u m e g r e w 11.7% Y o Y t o 57.1 m i ll i o n p a i r s d u r i n g t h e q u a r t e r
- E x c l u si v e B r a n d O u t l e t (E B O) n e t w o r k e x p a n d e d t o 305+ l o c a ti o n s a s o f J u n e 30, 2026
- I n s t a ll e d a n n u a l a s s e m b l y c a p a c i t y r e a c h e d 30.7 m i ll i o n p a i r s
Campus Activewear's Q1 FY27 presentation highlights a successful shift toward premiumization, with products priced above ₹1,500 now contributing 53.8% of revenue compared to 52.7% YoY. The company has significantly strengthened its balance sheet, reducing net debt to just ₹8.3 Cr from ₹32.3 Cr in FY26, achieving a Net Debt/EBITDA ratio of 0.0. Operational efficiency is evident in the reduction of net working capital days to 27, down from 31 in the previous fiscal year. Return on Capital Employed (ROCE) remains strong at 22.8% on a TTM basis, supported by a focus on backward integration.
- Premium segment (>₹1,500) revenue contribution increased to 53.8% in Q1 FY27 from 52.7% in Q1 FY26.
- Net Debt reduced to ₹8.3 Cr as of Q1 FY27, down from ₹32.3 Cr in FY26 and ₹156.8 Cr in FY23.
- Net Working Capital days improved to 27 days (TTM) from 31 days in FY26.
- Return on Capital Employed (ROCE) reached 22.8% on a TTM basis, up from 22.3% in FY26.
- The company addresses 85%+ of the Sports & Athleisure (S&A) footwear market, which is projected to reach ₹220bn by FY25.
Campus Activewear reported a steady Q1 FY27 with revenue growing 12.2% YoY to ₹385.20 Cr. Net profit increased by 17.7% YoY to ₹26.14 Cr, reflecting improved operational efficiency. While revenue declined 15.3% sequentially from Q4 FY26 (₹455.03 Cr), this is consistent with seasonal footwear trends. The company also noted a retrospective change in inventory valuation from FIFO to Moving Weighted Average, which had no material impact on the results.
- Revenue from operations grew 12.2% YoY to ₹385.20 Cr from ₹343.27 Cr.
- Net profit for the quarter increased 17.7% YoY to ₹26.14 Cr compared to ₹22.20 Cr.
- Total expenses for the period stood at ₹357.95 Cr, up from ₹319.03 Cr in Q1 FY26.
- Earnings Per Share (EPS) improved to ₹0.86 from ₹0.73 in the same quarter last year.
- Other income contributed ₹8.04 Cr to the total income of ₹393.24 Cr.
Campus Activewear has scheduled its Q1FY27 earnings call for August 06, 2026, at 4:30 PM IST. The company will report financial results for the quarter ended June 30, 2026, providing updates on its ~17% market share in the branded sports footwear segment. As of March 31, 2026, the company operates 300+ Exclusive Brand Outlets (EBOs) and has an annual assembly capacity of 30.7 million pairs. Investors will be looking for progress on the planned Rs 230 Cr capex for FY26-27 aimed at backward integration.
- Earnings call scheduled for August 06, 2026, following the Board Meeting to approve Q1FY27 results
- Installed annual assembly capacity stood at 30.7 million pairs as of March 31, 2026
- Network includes 300+ Exclusive Brand Outlets (EBOs) and over 30,000 retailers across 800 districts
- E-commerce revenue achieved a CAGR of 34%+ between Fiscal 2021 and March 2026
- Management team including CEO Nikhil Aggarwal and COO Uplaksh Tewary will lead the interactive Q&A
Campus Activewear has announced its 18th Annual General Meeting (AGM) for August 20, 2026, to be held via video conferencing. The company has dispatched physical letters to shareholders without registered email addresses, providing the navigation path to the Integrated Annual Report for FY 2025-26. This filing is a procedural requirement under SEBI LODR Regulation 36(1)(b). Investors can now access the full annual report on the company's website for detailed financial and operational insights.
- 18th Annual General Meeting scheduled for August 20, 2026, at 11:00 AM IST
- Integrated Annual Report for FY 2025-26 released and accessible via company website
- Cut-off date for identifying shareholders for physical dispatch was July 17, 2026
- Compliance filing under SEBI Regulation 36(1)(b) regarding shareholder communication
- Reminder issued for shareholders to update KYC details and dematerialize physical securities
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.
