Campus Activewear Ltd (BOM:543523)

Q1 2027 Campus Activewear Ltd Earnings Call Transcript

Aug 6, 2026 / 11:00 AM GMT

Release Date Price: ₹219.1 (-3.31%)

Transcript

Key Points

Positve

Strong Q1 FY27 performance with 12.2% revenue growth, 11.7% volume growth, and 17.7% PAT growth despite headwinds.
Successful implementation of ~8% MRP increase across key categories with no significant consumer resistance, supporting margin expansion.
Exceptional 50% YoY growth in school shoes business, driven by strategic shift from DIP to stock-on model, enhancing margins.
Launch of 'Elan by Campus' in the neo-casual segment, expanding addressable market and driving premiumization with price points of INR 1,899-2,599.
Record production and inventory buildup ahead of festive season, supported by strong distributor meet orders and positive demand visibility.
Transition of 158 franchise stores to SOR model, improving control over inventory and discounting, leading to higher like-to-like growth and partner confidence.
Robust growth in women's and kids portfolio, sneakers (targeting 30% growth), and strong D2C performance (brand.com grew over 100% YoY).

Negative

Revenue growth impacted by ~4.5-5% due to temporary factors: accounting change for Walmart (Flipkart/Myntra) and franchise model transition, masking underlying performance.
EBITDA margin stable at 15.9% but below aspirational 17-19% band, with pressure from minimum wage hikes (INR 5 crore) and additional depreciation (INR 2.5 crore).
ASP growth suppressed by ~4.5% due to school shoes mix (lower ASP) and GT charges, delaying realization of pricing benefits.
Open footwear (sandals) growth constrained by LPG supply restrictions, leading to production lag and lower growth in this category.
Employee costs increased ~15% (10% annualization/increments, 5% new hiring), impacting profitability in the quarter.
Demand tapering observed in the last quarter due to geopolitical factors and floods in Maharashtra and Gujarat, affecting secondary sales.
Franchise business degrowth of ~25% during transition to SOR model, temporarily reducing revenue contribution.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CAMU.NS - Campus Activewear Ltd
Q1 2027 Campus Activewear Ltd Earnings Call
Aug 06, 2026 / 11:00AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to the Campus Active Wear Limited's Q1 FY27 Earnings Conference Call.

As a reminder, all participant lines will be in the lesson only mode and there will be an option for you to ask questions after the presentation concludes.

Should you need assistance during this conference call, please signal an operator by pressing then 0 on your touchtone phone.

Please note that this conference is being recorded.

And now in the conference with Mr. Hirul Kenya from ENY LLP.

Thank you, and over to you, sir.

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Unidentified_2 [2]
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