Footwear · Founded 2008 · www.campusactivewear.com · BSE 543523 · NSE CAMPUS · ISIN INE278Y01022
No Notes Added Yet
Business
Campus Activewear Ltd. is an Indian company engaged in the manufacturing and marketing of active lifestyle footwear. The company primarily designs, develops, and sells a wide range of footwear for men, women, and children under its flagship brand "Campus." Their core business model involves offering trendy, high-quality, and comfortable activewear and semi-activewear footwear at competitive price points, targeting the mass-premium to premium segments of the Indian market. They make money through the sale of footwear products across various channels, including multi-brand outlets (MBOs), exclusive brand outlets (EBOs), and e-commerce platforms.
Revenue Mix
Campus Activewear primarily operates as a single business segment: Footwear. However, its revenue mix can be understood through its distribution channels and product categories.
Distribution Channels: Sales are generated from Multi-Brand Outlets (MBOs), Exclusive Brand Outlets (EBOs), and E-commerce/Online channels.
Product Categories: Revenue is derived from diverse product offerings for men, women, and kids, across various styles like sports shoes, casual shoes, sandals, and slippers. Specific percentage contributions for these internal categories are typically not disclosed in granular detail publicly, but the company focuses on a balanced growth across channels and categories.
Industry
The Indian footwear industry is large, dynamic, and characterized by a shift towards branded and active lifestyle products. While historically fragmented with a strong unorganized sector, it is gradually consolidating, with branded players gaining market share. Campus Activewear is positioned as a leading domestic active lifestyle footwear brand in India. It competes with established international brands such as Nike, Adidas, Puma, Reebok, Skechers, as well as other strong domestic players like Bata India, Relaxo Footwears, Liberty Shoes, and Paragon. Campus differentiates itself by focusing on trendy designs, product innovation, and a strong value proposition within the mid-to-premium pricing bracket, making it accessible to a wide consumer base.
MOAT
Campus Activewear possesses several competitive advantages:
Brand Recognition: "Campus" is an established and recognizable brand, particularly in the mass-premium active lifestyle segment in India, built over years of marketing and product delivery.
Extensive Distribution Network: A widespread pan-India presence through a large network of Multi-Brand Outlets (MBOs), Exclusive Brand Outlets (EBOs), and a growing online footprint ensures wide product availability.
Design and Innovation Capability: An in-house design team allows for quick adaptation to fashion trends and timely introduction of new designs, crucial in the dynamic footwear market.
Value Proposition: Ability to offer stylish and quality active footwear at competitive price points, making it an attractive option for value-conscious consumers seeking branded products.
Growth Drivers
Increasing Health & Fitness Consciousness: Growing awareness of health and wellness in India drives demand for activewear and sports footwear.
Rising Disposable Income & Urbanization: Higher discretionary spending and the expansion of urban/semi-urban markets fuel demand for branded footwear.
Expansion of Distribution: Further penetration into Tier 2 and Tier 3 cities through MBOs and EBOs, alongside growth in e-commerce channels.
Product Portfolio Expansion: Diversification into new categories (e.g., women's and kids' segments, new performance categories) and premiumization within existing offerings.
Brand Building and Marketing: Continued investment in marketing and brand endorsements to enhance brand appeal and capture mindshare.
Risks
Intense Competition: The Indian footwear market is highly competitive with both strong international and domestic players, which can put pressure on market share and margins.
Economic Downturn: As a discretionary product, demand for footwear is sensitive to economic slowdowns and changes in consumer spending patterns.
Raw Material Price Volatility: Fluctuations in prices of key raw materials (e.g., crude oil derivatives, rubber, EVA) can impact manufacturing costs and profitability.
Fashion and Trend Sensitivity: The industry is highly susceptible to rapidly changing fashion trends, requiring constant innovation and efficient inventory management to avoid obsolescence.
Supply Chain Disruptions: Dependency on specific manufacturing locations or global supply chains can lead to disruptions in production and delivery.
Counterfeiting: The prevalence of counterfeit products in the market can dilute brand value and impact sales.
Management & Ownership
Campus Activewear is a promoter-led company. The company was founded by Mr. Hari Krishna Agarwal, who along with his family, constitutes the promoter group and plays a significant role in the company's management and strategic direction. The management team has extensive experience in the footwear industry. The ownership structure includes the promoter group, institutional investors (both domestic and foreign), and the public, typical for a listed company in India.
Outlook
Campus Activewear is well-positioned to capitalize on the growing active lifestyle trend and increasing consumer spending in India. The company's established brand, extensive distribution network, and focus on design and value provide a solid foundation for future growth, particularly as it expands its reach into new geographies and product categories. However, the business operates in a highly competitive market, facing pressure from both global giants and nimble domestic players. Maintaining its design edge, managing raw material costs, adapting to evolving consumer preferences, and effectively executing its expansion strategy will be crucial for sustaining profitability and market share amidst intense competition and potential economic volatilities.
Price goes above X
Price falls below X
PE goes above X
PE falls below X
| #(Fig in Cr.) | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 472 | 364 | 339 | 333 | 515 | 406 | 343 | 387 | 589 | 456 |
| Other Income | 1 | 3 | 2 | 3 | 4 | 5 | 6 | 5 | 6 | 6 |
| Total Income | 473 | 366 | 341 | 337 | 519 | 411 | 349 | 392 | 594 | 462 |
| Total Expenditure | 416 | 300 | 287 | 295 | 433 | 334 | 294 | 337 | 478 | 373 |
| Operating Profit | 58 | 66 | 54 | 42 | 86 | 77 | 55 | 55 | 116 | 89 |
| Interest | 6 | 4 | 4 | 4 | 4 | 6 | 5 | 6 | 7 | 6 |
| Depreciation | 18 | 19 | 16 | 18 | 19 | 23 | 20 | 22 | 22 | 24 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 33 | 44 | 34 | 20 | 63 | 48 | 30 | 27 | 86 | 59 |
| Provision for Tax | 9 | 11 | 9 | 5 | 16 | 13 | 8 | 7 | 22 | 15 |
| Profit After Tax | 25 | 33 | 25 | 14 | 46 | 35 | 22 | 20 | 64 | 44 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 25 | 33 | 25 | 14 | 46 | 35 | 22 | 20 | 64 | 44 |
| Adjusted Earnings Per Share | 0.8 | 1.1 | 0.8 | 0.5 | 1.5 | 1.1 | 0.7 | 0.7 | 2.1 | 1.4 |
| #(Fig in Cr.) | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Net Sales | 464 | 633 | 711 | 1194 | 1484 | 1448 | 1593 | 1775 |
| Other Income | 26 | 36 | 4 | 2 | 3 | 5 | 15 | 23 |
| Total Income | 490 | 669 | 715 | 1197 | 1487 | 1453 | 1608 | 1797 |
| Total Expenditure | 407 | 561 | 596 | 952 | 1231 | 1237 | 1349 | 1482 |
| Operating Profit | 83 | 108 | 119 | 244 | 256 | 215 | 258 | 315 |
| Interest | 14 | 13 | 17 | 20 | 29 | 23 | 19 | 24 |
| Depreciation | 9 | 20 | 32 | 53 | 71 | 72 | 75 | 88 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 60 | 75 | 70 | 172 | 157 | 120 | 164 | 202 |
| Provision for Tax | 20 | 15 | 43 | 63 | 39 | 31 | 43 | 52 |
| Profit After Tax | 40 | 60 | 27 | 109 | 117 | 89 | 121 | 150 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 40 | 60 | 27 | 109 | 117 | 89 | 121 | 150 |
| Adjusted Earnings Per Share | 1.3 | 2 | 0.9 | 3.6 | 3.8 | 2.9 | 4 | 4.9 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 10% | 10% | 20% | 0% |
| Operating Profit CAGR | 20% | 2% | 19% | 0% |
| PAT CAGR | 36% | 4% | 15% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -19% | -9% | NA% | NA% |
| ROE Average | 17% | 19% | 19% | 20% |
| ROCE Average | 26% | 25% | 26% | 25% |
| #(Fig in Cr.) | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 204 | 284 | 313 | 428 | 552 | 652 | 757 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 17 | 64 | 66 | 45 | 26 | 19 | 0 |
| Other Non-Current Liabilities | -59 | -15 | 8 | 108 | 183 | 231 | 336 |
| Total Current Liabilities | 217 | 271 | 276 | 422 | 501 | 308 | 372 |
| Total Liabilities | 379 | 605 | 663 | 1002 | 1261 | 1209 | 1464 |
| Fixed Assets | 54 | 146 | 255 | 322 | 373 | 354 | 430 |
| Other Non-Current Assets | 91 | 67 | 12 | 34 | 94 | 161 | 271 |
| Total Current Assets | 235 | 391 | 396 | 646 | 794 | 695 | 763 |
| Total Assets | 379 | 605 | 663 | 1002 | 1261 | 1209 | 1464 |
| #(Fig in Cr.) | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 1 | 2 | 15 | 1 | 0 | 24 | 22 |
| Cash Flow from Operating Activities | 22 | -21 | 125 | 18 | 126 | 264 | 235 |
| Cash Flow from Investing Activities | -23 | -55 | -9 | -34 | -70 | -74 | -155 |
| Cash Flow from Financing Activities | 1 | 89 | -129 | 16 | -33 | -192 | -85 |
| Net Cash Inflow / Outflow | 0 | 13 | -14 | -1 | 24 | -2 | -4 |
| Closing Cash & Cash Equivalent | 2 | 14 | 1 | 0 | 24 | 22 | 17 |
| # | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 1.34 | 1.99 | 0.88 | 3.57 | 3.84 | 2.93 | 3.97 |
| CEPS(Rs) | 1.63 | 2.64 | 1.95 | 5.31 | 6.18 | 5.29 | 6.44 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Book NAV/Share(Rs) | 6.68 | 9.33 | 10.26 | 13.97 | 17.94 | 21.25 | 24.61 |
| Core EBITDA Margin(%) | 11.46 | 10.43 | 14.74 | 19.01 | 16.14 | 13.59 | 14.14 |
| EBIT Margin(%) | 14.86 | 12.83 | 11.11 | 15.03 | 11.79 | 9.23 | 10.61 |
| Pre Tax Margin(%) | 11.97 | 10.95 | 8.92 | 13.49 | 9.97 | 7.74 | 9.52 |
| PAT Margin (%) | 8.03 | 8.76 | 3.43 | 8.53 | 7.45 | 5.77 | 7.04 |
| Cash Profit Margin (%) | 9.75 | 11.65 | 7.54 | 12.69 | 11.98 | 10.41 | 11.42 |
| ROA(%) | 10.61 | 12.27 | 4.24 | 13.04 | 10.35 | 7.24 | 9.07 |
| ROE(%) | 20.03 | 24.93 | 9.03 | 29.47 | 24.11 | 14.97 | 17.31 |
| ROCE(%) | 22.52 | 21.36 | 18.42 | 36.44 | 27.76 | 20.33 | 25.51 |
| Receivable days | 80.1 | 65.08 | 54.5 | 33.25 | 36.05 | 34.69 | 28.22 |
| Inventory Days | 70.77 | 66.07 | 82.63 | 79.83 | 93.3 | 99.43 | 82.24 |
| Payable days | 99.25 | 87.48 | 157.67 | 140.08 | 127.48 | 134.37 | 125.07 |
| PER(x) | 0 | 0 | 0 | 0 | 86.78 | 73.26 | 58.07 |
| Price/Book(x) | 0 | 0 | 0 | 0 | 18.6 | 10.1 | 9.36 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0.43 |
| EV/Net Sales(x) | 0.27 | 0.48 | 0.4 | 0.27 | 6.95 | 4.52 | 4.4 |
| EV/Core EBITDA(x) | 1.51 | 2.82 | 2.4 | 1.33 | 40.27 | 30.43 | 27.15 |
| Net Sales Growth(%) | 0 | 36.45 | 12.36 | 67.89 | 24.29 | -2.42 | 9.99 |
| EBIT Growth(%) | 0 | 18.89 | -1.5 | 119.72 | -3.16 | -22.7 | 27.58 |
| PAT Growth(%) | 0 | 50.14 | -55.45 | 303.88 | 7.91 | -23.63 | 35.49 |
| EPS Growth(%) | 0 | 48.32 | -55.45 | 303.09 | 7.78 | -23.78 | 35.42 |
| Debt/Equity(x) | 0.63 | 0.75 | 0.44 | 0.41 | 0.33 | 0.04 | 0 |
| Current Ratio(x) | 1.08 | 1.45 | 1.44 | 1.53 | 1.59 | 2.26 | 2.05 |
| Quick Ratio(x) | 0.63 | 0.88 | 0.7 | 0.69 | 0.69 | 0.97 | 1.03 |
| Interest Cover(x) | 5.14 | 6.82 | 5.07 | 9.75 | 6.46 | 6.17 | 9.72 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0.02 | 0 | 0 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 73.88 | 73.88 | 73.86 | 73.86 | 73.84 | 72.14 | 72.13 | 72.12 | 72.11 | 72.1 |
| FII | 5.94 | 5.23 | 5.94 | 5.67 | 5.36 | 6.61 | 6.66 | 5.99 | 6.15 | 6.07 |
| DII | 7.07 | 7.8 | 9.45 | 11.81 | 11.4 | 11.12 | 11.78 | 11.82 | 11.71 | 11.6 |
| Public | 13.12 | 13.1 | 10.75 | 8.66 | 9.4 | 10.13 | 9.43 | 10.06 | 10.03 | 10.24 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 22.55 | 22.55 | 22.55 | 22.55 | 22.55 | 22.03 | 22.03 | 22.03 | 22.03 | 22.03 |
| FII | 1.81 | 1.6 | 1.81 | 1.73 | 1.64 | 2.02 | 2.03 | 1.83 | 1.88 | 1.85 |
| DII | 2.16 | 2.38 | 2.88 | 3.61 | 3.48 | 3.4 | 3.6 | 3.61 | 3.58 | 3.54 |
| Public | 4 | 4 | 3.28 | 2.64 | 2.87 | 3.09 | 2.88 | 3.07 | 3.06 | 3.13 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 30.53 | 30.53 | 30.53 | 30.53 | 30.54 | 30.54 | 30.55 | 30.55 | 30.55 | 30.56 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +10% | +10% | +20% | — |
| Operating Profit CAGR | +20% | +2% | +19% | — |
| PAT CAGR | +36% | +4% | +15% | — |
| Share Price CAGR | -19% | -9% | — | — |
| ROE Average | +17% | +19% | +19% | +20% |
| ROCE Average | +26% | +25% | +26% | +25% |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 73.88 | 73.88 | 73.86 | 73.86 | 73.84 | 72.14 | 72.13 | 72.12 | 72.11 | 72.1 |
| FII | 5.94 | 5.23 | 5.94 | 5.67 | 5.36 | 6.61 | 6.66 | 5.99 | 6.15 | 6.07 |
| DII | 7.07 | 7.8 | 9.45 | 11.81 | 11.4 | 11.12 | 11.78 | 11.82 | 11.71 | 11.6 |
| Public | 26.12 | 26.12 | 26.14 | 26.14 | 26.16 | 27.86 | 27.87 | 27.88 | 27.89 | 27.9 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 22.55 | 22.55 | 22.55 | 22.55 | 22.55 | 22.03 | 22.03 | 22.03 | 22.03 | 22.03 |
| FII | 1.81 | 1.6 | 1.81 | 1.73 | 1.64 | 2.02 | 2.03 | 1.83 | 1.88 | 1.85 |
| DII | 2.16 | 2.38 | 2.88 | 3.61 | 3.48 | 3.4 | 3.6 | 3.61 | 3.58 | 3.54 |
| Public | 7.97 | 7.97 | 7.98 | 7.98 | 7.99 | 8.51 | 8.51 | 8.52 | 8.52 | 8.53 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 30.53 | 30.53 | 30.53 | 30.53 | 30.54 | 30.54 | 30.55 | 30.55 | 30.55 | 30.56 |
* The pros and cons are machine generated.
Our experts help you choose the right stocks based on performance, risk, and growth potential.
Looking to buy unlisted shares or need guidance on the investment process? Our expert Private Equity Advisors are here to assist you with accurate information, real-time pricing, and seamless execution.
Want to sell unlisted shares, liquidate your ESOPs, or understand the step-by-step process of liquidation? Connect with our Buying Team for smooth coordination, quick evaluations, and end-to-end support.
Planning to build or grow your portfolio? For Mutual Fund investments, PMS solutions, tailored portfolio creation, and overall wealth management, our dedicated Wealth Team is ready to guide you.