NSE: CAMPUS · BSE: 543523
CAMPUS ACTIVEWEAR LIMITED
Makes and sells sports and athleisure footwear in India under the Campus brand, with FY26 revenue of ₹1,774.12 crores. The product mix is being premiumised by a sneaker portfolio that grew over 100% YoY, alongside expansion in women's and kids categories and the launch of a sub-brand called ELAN. Sales run through a mix of D2C channels at 48.3% of revenue (300 exclusive brand outlets plus online, where the online channel grew 18.9% in Q4) and third-party distribution. Footwear accounts for 99.13% of turnover, with a small athleisure apparel line just introduced. Manufacturing runs across 8 plants in India, with the new Pantnagar unit ramping from about 2 lakh pairs a month toward a target of 8-9 lakh pairs a month by FY27 and 250 new SKUs launched in FY26. The biggest cost line is raw materials (49.9% of revenue), particularly EVA and PU foams used in soles. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Sports and athleisure footwear, Athleisure apparel and sub-brand ELAN, D2C channel sales (48%), Third-party distribution. Branded consumer footwear with growing in-house manufacturing, premiumising through sneakers and expanding direct-to-consumer reach.
Exhibit 1: Financial summary, FY22–FY22 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 |
|---|---|
| Revenue | 1,194 |
| EBITDA (ex other income) | 242 |
| margin % | 20.2 |
| Owners' profit | 109 |
| EPS, as reported (₹) | 3.57 |
| ROE % · ROCE % | 25.2 · 32.9 |
| Debt / equity (x) | 0.41 |
| Cash from operations | 18 |
| Capex | (36) |
Exhibit 2: Quarterly performance, last 2 quarters
| ₹ crore | Q4 FY22 | Q1 FY23 |
|---|---|---|
| Revenue | 352 | 338 |
| Profit before tax | 57 | 42 |
| Net profit | 23 | 29 |
| EPS (₹) | 0.75 | 0.94 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| METRO BRANDS LIMITED | 22,682 | 55.8 | 11.19 | 23.3 | 20.5 | 16.3 | — | 33.4 |
| BATA INDIA LTD | 8,727 | 59.7 | 5.47 | 11.8 | 8.4 | 6.5 | 15.5 | 22.7 |
| RELAXO FOOT LTD. | 6,994 | 37.7 | 3.17 | — | 8.1 | 9.9 | — | 17.2 |
| REDTAPE LIMITED | 5,749 | 23.4 | 5.63 | 12.8 | 23.6 | 24.3 | — | 20.5 |
| CAMPUS ACTIVEWEAR LIMITED ◆ | 5,624 | 108.9 | 13.15 | 23.8 | 25.2 | 29.5 | — | 18.4 |
| SREELEATHERS LIMITED | 602 | 18.4 | 1.21 | — | 5.8 | 7.5 | — | 16.3 |
| LIBERTY SHOES LTD | 332 | 38.7 | 1.42 | — | 4.8 | 4.3 | — | 7.9 |
| LEHAR FOOTWEARS LIMITED | 307 | 14.7 | 2.32 | — | 15.7 | 19.3 | — | 8.9 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 108.9 | 47.2 | 9 of 10 | 11% |
| P/B | 13.2 | 3.2 | 9 of 9 | 0% |
| ROCE | 29.5 | 7.5 | 1 of 11 | 100% |
| ROE | 25.2 | 8.4 | 1 of 9 | 100% |
| Debt / Equity | 0.4 | 0.3 | 8 of 9 | 13% |
| EBITDA margin | 18.4 | 17.4 | 4 of 10 | 67% |
| Market cap | 5624 | 3113 | 5 of 10 | 56% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 15 Oct 2026 · Certificate from Registrar on dematerialisation for Jul-Sep 2026 quarter | compliance | minimal | — | — |
| 7 Oct 2026 · Campus Activewear grants 4.57 lakh ESOP options to employees | business updates | low | — | — |
| 1 Oct 2026 · Promoter Hari Krishan Agarwal gifts 10L shares to Prerna Aggarwal via off-market transfer | ownership changes | high | — | — |
| 30 Sept 2026 · Campus Activewear schedules Analyst Day 2026 on 9 October in New Delhi | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading window closed from Oct 1 till 48 hrs after Q2 FY27 results | compliance | minimal | — | — |
| 18 Sept 2026 · Campus Activewear appoints new Senior GM - Investor Relations | management changes | medium | — | — |
| 18 Sept 2026 · Campus Activewear appoints Senior GM - Investor Relations | management changes | low | — | — |
| 10 Sept 2026 · Campus Activewear receives CRISIL ESG rating of 61 | credit debt | medium | — | — |
| 7 Sept 2026 · Campus Activewear to attend UBS India Summit on September 10 | board shareholder meetings | low | — | — |
| 22 Aug 2026 · Campus Activewear 18th AGM: All 8 resolutions passed, dividend declared | board shareholder meetings | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.