Campus Activewear Earnings Call Transcript: Key Takeaways

Guidance and delivery
Management target	Revenue 15.0% FY27

Highlights
Revenue growth	12.2% growth; core categories up 5% underlying ASP.
Margins	EBITDA margins stable at 15.9% despite rising labor costs.
Order book	Record orders from distributor meet provide strong seasonal visibility.
Demand visibility	Positive festive outlook backed by record July production.
Management confidence	Confident, highlighting resilient brand strength and operational efficiency.

Growth

Revenue grew 12.2% with 11.7% volume growth; PAT surged 17.7% despite temporary ASP dilution from school shoe mix.

Management targets mid-double-digit growth for FY27, with ASP expected to recover from Q2 onwards.

ASP dilution persists due to product mix; inventory build-up ahead of festive season risks working capital stress if demand falters.

Guided 17-19% EBITDA margin → delivered 17.5% (= BEAT)
Guided Pant Nagar production commencement → delivered 2L pairs/month (= BEAT)
Guided premiumization/ASP growth → delivered 7% YoY increase to INR 683 (= BEAT)

Guided inventory correction → delivered 5-6 day increase in inventory days (= PARTIAL)

Guided aggressive retail expansion → delivered steady 300 stores/flat network (= MISS)

Source

Earnings Call Transcript filed with BSE, NSE: CAMPUS. Summary written with AI assistance from the document.

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.