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Campus Activewear Q4 FY26 results: net profit up 26.0% to ₹44.14 crore, revenue up 12.3%
Campus Activewear Limited reported standalone Q4 FY26 revenue of ₹455.63 crore, up 12.3% from Q4 FY25, while net profit rose 26.0% to ₹44.14 crore and EBITDA margin increased 0.5 percentage points to 18.1%. Against Q3 FY26, revenue fell 22.6%, profit fell 30.7% and EBITDA margin declined 0.6 percentage points. For FY26, revenue rose 11.4% to ₹1,774.12 crore and net profit increased 23.9% to ₹150.09 crore.
Key points
- Standalone Q4 FY26 revenue was ₹455.63 crore, up 12.3% from ₹405.71 crore in Q4 FY25.
- Q4 FY26 EBITDA was ₹82.46 crore, up 15.4%, while EBITDA margin rose 0.5 percentage points to 18.1%.
- Q4 FY26 net profit was ₹44.14 crore, up 26.0%, and basic EPS was ₹1.44 against ₹1.15.
- For FY26, revenue was ₹1,774.12 crore, up 11.4%, and net profit was ₹150.09 crore, up 23.9%.
- Campus Activewear recommended a final dividend of Rs 1.50 per equity share for FY 2025-26, subject to shareholder approval.
How did Campus Activewear perform in Q4 FY26?
Campus Activewear reported standalone revenue of ₹455.63 crore in Q4 FY26, up ₹49.92 crore or 12.3% from ₹405.71 crore in Q4 FY25. Total income rose ₹50.68 crore or 12.3% to ₹461.68 crore, while other income increased ₹0.76 crore to ₹6.05 crore.
EBITDA rose ₹11.01 crore or 15.4% to ₹82.46 crore, and the margin increased 0.5 percentage points to 18.1%. Profit before tax rose ₹11.17 crore or 23.5% to ₹58.78 crore. After tax of ₹14.64 crore, net profit was ₹44.14 crore, up ₹9.11 crore or 26.0%, and basic EPS increased ₹0.29 to ₹1.44.
Against Q3 FY26, revenue fell ₹132.98 crore or 22.6% from ₹588.61 crore, EBITDA declined ₹27.80 crore or 25.2% to ₹82.46 crore, and net profit fell ₹19.54 crore or 30.7% to ₹44.14 crore. Basic EPS declined ₹0.64 to ₹1.44, while EBITDA margin fell 0.6 percentage points to 18.1%. The reported figures are on a standalone basis.
| ₹ crore | Q4 FY26 | Q3 FY26 | Q4 FY25 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 455.63 | 588.61 | 405.71 | +12.3% | −22.6% |
| Other income | 6.05 | 5.50 | 5.29 | +14.4% | +10.0% |
| Total expenses | 402.90 | 508.05 | 363.39 | +10.9% | −20.7% |
| EBITDA | 82.46 | 110.26 | 71.45 | +15.4% | −25.2% |
| EBITDA margin | 18.1% | 18.7% | 17.6% | +0.5 pp | −0.6 pp |
| Profit before tax | 58.78 | 86.06 | 47.61 | +23.5% | −31.7% |
| Tax | 14.64 | 22.38 | 12.58 | +16.4% | −34.6% |
| Net profit | 44.14 | 63.68 | 35.03 | +26.0% | −30.7% |
| EPS (₹) | 1.44 | 2.08 | 1.15 | +25.2% | −30.8% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Campus Activewear's costs and profit?
Total expenses increased ₹39.51 crore or 10.9% from Q4 FY25 to ₹402.90 crore, slower than the 12.3% rise in total income. Cost of materials was ₹216.04 crore, up ₹30.50 crore or 16.4%, and employee cost rose ₹6.54 crore or 21.5% to ₹37.02 crore.
Other expenses increased ₹7.07 crore or 6.6% to ₹114.97 crore, while depreciation rose ₹1.10 crore or 4.8% to ₹23.87 crore. Finance costs declined ₹0.50 crore or 7.9% to ₹5.86 crore. Other income increased ₹0.76 crore or 14.4% to ₹6.05 crore.
There was no exceptional item in either Q4 FY26 or Q4 FY25. Tax expense rose ₹2.06 crore or 16.4% to ₹14.64 crore. The figures show the year-on-year movement in each cost and income line; the filing excerpt does not provide a further explanation for the changes.
| ₹ crore | Q4 FY26 | Q4 FY25 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 216.04 | 185.54 | +30.50 | +16.4% |
| Employee cost | 37.02 | 30.48 | +6.54 | +21.5% |
| Finance costs | 5.86 | 6.36 | −0.50 | −7.9% |
| Depreciation | 23.87 | 22.77 | +1.10 | +4.8% |
| Other expenses | 114.97 | 107.90 | +7.07 | +6.6% |
| Total expenses | 402.90 | 363.39 | +39.51 | +10.9% |
| Other income | 6.05 | 5.29 | +0.76 | +14.4% |
| Tax | 14.64 | 12.58 | +2.06 | +16.4% |
Source: Company's results filing (XBRL).
How did Campus Activewear do in FY26 as a whole?
For FY26, Campus Activewear reported standalone revenue of ₹1,774.12 crore, up ₹181.16 crore or 11.4% from ₹1,592.96 crore in FY25. Total income increased ₹189.31 crore or 11.8% to ₹1,796.96 crore, while profit before tax rose ₹38.23 crore or 23.3% to ₹202.17 crore.
Net profit for FY26 was ₹150.09 crore, up ₹28.91 crore or 23.9% from ₹121.18 crore in FY25. Basic EPS increased ₹0.94 or 23.7% to ₹4.91 from ₹3.97.
| ₹ crore | FY26 | FY25 | Change |
|---|---|---|---|
| Revenue from operations | 1,774 | 1,593 | +11.4% |
| Profit before tax | 202.17 | 163.94 | +23.3% |
| Net profit | 150.09 | 121.18 | +23.9% |
| EPS (₹) | 4.91 | 3.97 | +23.7% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 31 March 2026, total assets were ₹1,467.19 crore, down from ₹1,531.84 crore at 30 September 2025. Total equity rose to ₹906.25 crore from ₹793.69 crore, while borrowings fell to ₹36.28 crore from ₹165.25 crore and cash declined to ₹3.96 crore from ₹10.13 crore.
Inventories were ₹449.45 crore at 31 March 2026, against ₹497.8 crore at 30 September 2025. Trade receivables declined to ₹152.75 crore from ₹166.37 crore, while trade payables fell to ₹224.71 crore from ₹262.47 crore.
FY26 operating cash flow was ₹134.77 crore, against ₹235.21 crore in FY25. Investing cash flow was negative ₹54.73 crore compared with negative ₹154.58 crore, while financing cash flow was negative ₹93.52 crore against negative ₹84.69 crore. Capital expenditure was ₹90.27 crore, up from ₹59.18 crore in FY25.
| ₹ crore | As of 31 March 2026 | As of 30 September 2025 |
|---|---|---|
| Total assets | 1,467 | 1,532 |
| Total equity | 906.25 | 793.69 |
| Borrowings | 36.28 | 165.25 |
| Cash and equivalents | 3.96 | 10.13 |
| Inventories | 449.45 | 497.80 |
| Trade receivables | 152.75 | 166.37 |
Source: Company's results filing (XBRL).
| ₹ crore | FY26 | FY25 |
|---|---|---|
| Cash from operations | 134.77 | 235.21 |
| Cash from investing | −54.73 | −154.58 |
| Cash from financing | −93.52 | −84.69 |
| Capital expenditure | 90.27 | 59.18 |
Source: Company's results filing (XBRL).
How has Campus Activewear done over the last 8 quarters?
Revenue increased year on year in each of the last seven quarters. Over the eight-quarter series, revenue reached its highest point at ₹588.61 crore in Q3 FY26 and its lowest at ₹333.29 crore in Q2 FY25, before declining to ₹455.63 crore in Q4 FY26.
Net profit bottomed at ₹14.3 crore in Q2 FY25 and peaked at ₹63.68 crore in Q3 FY26, then fell to ₹44.14 crore in Q4 FY26. EBITDA margin similarly peaked at 18.7% in Q3 FY26, compared with its low of 11.5% in Q2 FY25, and eased to 18.1% in the latest quarter. Profit rose year on year in each of the last three quarters.
What else did the company announce?
The board approved the audited financial results for the quarter and financial year ended 31 March 2026, along with the cash flow statement and statement of assets and liabilities. The statutory auditors, M/s B S R and Co., LLP, provided an unmodified opinion. The board recommended a final dividend of Rs 1.50 per equity share of face value Rs 5 for FY 2025-26, subject to shareholder approval, and fixed 31 July 2026 as the record date.
The board recommended the re-appointment of Nikhil Aggarwal as Whole-time Director and CEO, subject to shareholder approval, along with second five-year terms for independent directors Anil Kumar Chanana, Nitin Savara, Madhumita Ganguli and Jai Kumar Garg, also subject to shareholder approval. It appointed Ernst & Young LLP as internal auditor for FY 2026-27. The 18th AGM is scheduled for 20 August 2026 through video conferencing or other audio-visual means.
What did Campus Activewear's management say?
Management maintained an FY27 EBITDA-margin guidance range of 17–19% and raised its plan to add 60–80 EBO stores, compared with flat store additions in FY26. It also said FY27 capex would return to a normal range, with no repeat of FY26's elevated Pantnagar acquisition spend, and targeted 8–9 lakh pairs of total sneaker production per month across Pantnagar and Haridwar.
Management said raw-material inflation had reached its peak and prices had begun to correct, which it expected to benefit the company in H2 FY27. CEO Nikhil Aggarwal said the company had taken enough pricing increases to cover inflation and did not expect the raw-material impact to worsen, while noting that pricing would not change.
Management identified EVA and PU raw-material inflation, minimum-wage pressure, geopolitical uncertainty and rising competition in affordable athleisure as risks. It also noted that a higher school-shoe mix had muted average selling prices in the near term, while the online channel grew 18.9% YoY in Q4 and 9.8% for FY26.
How did Campus Activewear shares react?
Campus Activewear's shares were up 1.6% five minutes after the filing appeared, then down 0.2% after 15 minutes and 1.3% after 30 minutes. The stock closed 1.4% below its pre-results close on the reaction day, against a 1.0% median gain for other Footwear stocks.
By the next day's close, the stock was up 5.6% from its pre-results close, while the Footwear median was up 0.4%. By the fifth session, Campus Activewear was up 6.0% from the pre-results close, compared with a 0.3% industry median; its excess move was 5.7 percentage points.
Earlier results-day moves were mixed: 6.5% on 2 February 2026, 0.3% on 12 November 2025, -3.3% on 13 August 2025, 2.0% on 29 May 2025, -4.2% on 11 February 2025, 0.2% on 11 November 2024, -2.0% on 12 August 2024 and 17.0% on 28 May 2024.
| After the filing | Stock | Footwear median |
|---|---|---|
| 5 minutes | +1.6% | |
| 15 minutes | −0.2% | |
| 30 minutes | −1.3% | |
| Reaction day | −1.4% | +1.0% |
| Next day | +5.6% | +0.4% |
| 5 days | +6.0% | +0.3% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 2 February 2026 | +6.5% |
| 12 November 2025 | +0.3% |
| 13 August 2025 | −3.3% |
| 29 May 2025 | +2.0% |
| 11 February 2025 | −4.2% |
| 11 November 2024 | +0.2% |
| 12 August 2024 | −2.0% |
| 28 May 2024 | +17.0% |
Source: MarketPing price-reaction measurement.
How did other Footwear companies do?
Nine other Footwear companies filed for the quarter, with a median revenue growth of 8.0%. Campus Activewear's revenue grew 12.3% on a year-on-year basis; five peers grew more slowly and four grew faster than the company.
Among the nine peers for which profit was compared, four reported higher profit. The peer comparison was recorded as of 5 November 2026.
| Campus Activewear revenue growth (YoY) | +12.3% |
|---|---|
| Median of 9 other Footwear companies | +8.0% |
| Companies with slower revenue growth than Campus Activewear | 5 of 9 |
| Companies with faster revenue growth than Campus Activewear | 4 of 9 |
| Companies whose net profit rose | 4 of 9 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Campus Activewear's revenue in Q4 FY26?
Revenue from operations was ₹455.63 crore, up 12.3% from ₹405.71 crore in Q4 FY25 (standalone).
Did Campus Activewear make a profit in Q4 FY26?
Yes. Net profit was ₹44.14 crore, against a net profit of ₹35.03 crore in Q4 FY25.
What was Campus Activewear's EPS in Q4 FY26?
Basic earnings per share were ₹1.44, against ₹1.15 in Q4 FY25.
How did Campus Activewear shares react to the Q4 FY26 results?
On the reaction day the stock moved −1.4% from the previous close; the median Footwear stock moved +1.0%.
When did Campus Activewear announce its Q4 FY26 results?
On 25 May 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Audited Financial Results For The Quarter And Year Ended March 31, 2026 And Declaration Of Final Dividend For The FY 2025-26 (BSE, 20 May 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting (BSE, 25 May 2026) · PDF
- Outcome of Board Meeting (NSE, 25 May 2026) · PDF
- Approval Of Financial Results For The Quarter And Year Ended March 31, 2026 (BSE, 25 May 2026) · PDF
- Corporate Action-Board approves Dividend (BSE, 25 May 2026) · PDF
- The earnings call (29 May 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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