India's largest sports & athleisure footwear brand, sold via 30,000+ retail touchpoints across India.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 385 | +12.2% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 14.0 | 0.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 26.0 | +18.2% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | +20.7 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. | |
| Free cash flow margin | −10.9 pts | Fiscal year | FY · period unavailable | Not in the analysed materials. No older figure is substituted. | |
| Revenue growth (YoY) | +70.8 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. |
Guidance
4 of 6 judged targets kept · 8 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Non-BIS Inventory Liquidation | Liquidate majority of our non-BIS inventory by March end. | Q3 FY25 | No mention of non-BIS inventory. The revised deadline of June 2026 has passed. | Ghosted |
| EBITDA Margin | 17% to 19% is what we are aspiring for. | Q3 FY25 | Q1 EBITDA margin was 15.9%, below the guided range. However, management reiterated high confidence in achieving 17-19% for the full year FY27. | At Risk |
| Pant Nagar Monthly Output | these units are delivering an approximately 2 lakhs average monthly output, which is likely to double by end of FY27 | Q4 FY26 | No specific update on the output numbers, but the target is for end of FY27. Presumed on track. | On Track |
2 of Campus Activewear Limited's 14 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 11 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: ₹282.05 on 24 Oct 2025 → ₹184.58. High ₹282.5 (10 Feb 2026), low ₹184.58 (27 Oct 2026).
Overview
Based on the company's own presentations, annual report and earnings calls.
Campus Activewear designs, manufactures and markets sports & athleisure (S&A) footwear under the Campus brand, and is extending the brand into an emerging apparel and accessories range. It runs a vertically integrated manufacturing ecosystem across in-house facilities at Haridwar, Paonta Sahib, Pant Nagar, Ganaur, Baddi and Dehradun, covering uppers, soles and final assembly, backed by a network of third-party manufacturing partners. Products reach customers through a pan-India omni-channel network spanning distributors, general trade retail touchpoints, exclusive brand outlets (EBOs) and large-format store counters, alongside online marketplaces and a growing direct-to-consumer presence.
Segments
close before → close after
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Guidance
4 of 6 judged targets kept · 8 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Non-BIS Inventory Liquidation | Liquidate majority of our non-BIS inventory by March end. | Q3 FY25 | No mention of non-BIS inventory. The revised deadline of June 2026 has passed. | Ghosted |
| EBITDA Margin | 17% to 19% is what we are aspiring for. | Q3 FY25 | Q1 EBITDA margin was 15.9%, below the guided range. However, management reiterated high confidence in achieving 17-19% for the full year FY27. | At Risk |
| Pant Nagar Monthly Output | these units are delivering an approximately 2 lakhs average monthly output, which is likely to double by end of FY27 | Q4 FY26 | No specific update on the output numbers, but the target is for end of FY27. Presumed on track. | On Track |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 14 tracked commitments, with each call’s wording and source.
Call summaries
Campus Activewear Limited Q1 FY27
Campus Activewear Limited reported a strong start to FY27 with robust revenue and volume growth, alongside healthy PAT growth and stable EBITDA margins, despite facing macroeconomic headwinds and temporary ASP suppressions. The company's strategic initiatives, including the launch of 'Elan' and expansion of its distribution network, are expected to drive future growth and premiumization.
Read the full callCampus Activewe. Q4 FY26
Campus Activewear delivered a strong Q4 and FY26 performance, marked by robust revenue growth driven by online and distribution channels, significant expansion in the sneakers portfolio, and improved profitability. Despite inflationary pressures leading to price hikes, the company maintained healthy margins and a strong balance sheet, while also focusing on brand refresh and capacity expansion.
Read the full callCampus Activewe. Q3 FY26
Campus Activewear reported a strong Q3 FY26, with revenue growing 14.3% and PAT up 37% YoY, driven by distribution expansion, product mix enhancement, and a robust festive season. The company saw significant margin expansion and doubled its Sneaker portfolio volume. Strategic initiatives include the launch of Athleisure apparel and stabilization of manufacturing facilities, though overall industry demand remains below expectations.
Read the full callEvery analysed call
Fundamentals
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2017 to Mar 2022).
Financials
Net profit, year on year: +18% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 333 | 515 | 406 | 343 | 387 | 589 | 456 | 385 |
| Expenses | 295 | 433 | 334 | 294 | 337 | 478 | 373 | 331 |
| Operating profit | 38 | 82 | 71 | 49 | 50 | 110 | 82 | 55 |
| Operating margin | 11.0% | 16.0% | 18.0% | 14.0% | 13.0% | 19.0% | 18.0% | 14.0% |
| Other income | 3 | 4 | 5 | 6 | 5 | 6 | 6 | 8 |
| Interest | 4 | 4 | 6 | 5 | 6 | 7 | 6 | 5 |
| Depreciation | 18 | 19 | 23 | 20 | 22 | 22 | 24 | 23 |
| Profit before tax | 20 | 63 | 48 | 30 | 27 | 86 | 59 | 35 |
| Tax rate | 27.0% | 26.0% | 26.0% | 27.0% | 26.0% | 26.0% | 25.0% | 26.0% |
| Net profit | 14 | 46 | 35 | 22 | 20 | 64 | 44 | 26 |
| EPS (₹ per share) | 0.47 | 1.52 | 1.15 | 0.73 | 0.66 | 2.08 | 1.44 | 0.86 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 1,485 | 1,449 | 1,593 | 1,775 |
| Expenses | 1,231 | 1,238 | 1,349 | 1,482 |
| Operating profit | 254 | 210 | 243 | 291 |
| Other income | 4 | 4 | 14 | 23 |
| Interest | 29 | 23 | 18 | 24 |
| Depreciation | 72 | 72 | 76 | 88 |
| Profit before tax | 157 | 119 | 165 | 202 |
| Net profit | 115 | 89 | 120 | 150 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 152 | 152 | 153 | 153 | 153 | 153 |
| Reserves | 275 | 400 | 499 | 604 | 641 | 753 |
| Borrowings | 289 | 335 | 178 | 232 | 381 | 236 |
| Other liabilities | 247 | 297 | 286 | 339 | 357 | 349 |
| Total liabilities | 964 | 1,184 | 1,115 | 1,328 | 1,532 | 1,491 |
| Fixed assets | 322 | 373 | 354 | 430 | 497 | 516 |
| Capital work in progress | 2 | 4 | 20 | 34 | 26 | 11 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 639 | 807 | 741 | 863 | 1,009 | 964 |
| Total assets | 964 | 1,184 | 1,115 | 1,328 | 1,532 | 1,491 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 124 | 18 | 126 | 264 | 235 | 135 |
| Cash from investing | -9 | -34 | -70 | -74 | -155 | -55 |
| Cash from financing | -129 | 16 | -33 | -192 | -85 | -94 |
| Net cash flow | -14 | -1 | 24 | -2 | -4 | -13 |
| Free cash flow | 69 | -15 | 60 | 220 | 176 | 46 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 50 | 41 | 43 | 30 | 34 | 31 |
| Inventory days | 202 | 219 | 222 | 218 | 192 | 207 |
| Days payable | 167 | 120 | 104 | 105 | 108 | 98 |
| Cash conversion cycle | 86 | 139 | 161 | 143 | 118 | 140 |
| Working capital days | 63 | 69 | 68 | 96 | 89 | 109 |
| Return on capital employed | 17.0% | 32.0% | 23.0% | 17.0% | 20.0% | 21.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 25.0% | 31.0% |
To justify its price of ₹185, this stock must grow earnings at 27% every year for 7 years. Our analysis caps realistic growth at ~4%. At that growth it is worth ₹57 — downside of 69%.
Ownership
Promoters hold 72.07% as of Sept 2026; institutions cut 0.79 pts since Jun 2026.
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
The same filing shows 2 holders trimming and 0 off the list — both are in the register beside this.
Named in the Sep 2026 filing
Every holder of Campus Activewear Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 55.51% | −0.33 pp | |
| 12.03% | unchanged | |
| 3.98% | unchanged | |
| Mutual fund | 2.94% | +0.55 pp |
| Global fund house | 2.64% | unchanged |
| Mutual fund | 2.32% | unchanged |
| Mutual fund | 2.12% | −0.65 pp |
| Mutual fund | 1.33% | unchanged |
| 0.33% | newly disclosed | |
| 0.23% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Filings to Sep 2026
0 new, 0 added, 1 trimmed, 0 sold out — net −3.59 L shares (−6.7%).
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India Small Cap Fund Nippon India Mutual Fund | ₹85 Cr | held | Feb '25 |
| SBI Consumption Opportunities Fund SBI Mutual Fund | ₹10 Cr | −3.59 L | Nov '23 |
| HDFC Balanced Advantage Fund HDFC Mutual Fund | ₹10 Cr | held | Dec '22 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Sep 2026
0 added, 1 trimmed — net −3.59 L shares (−6.7%)
Shares held by these funds +843%
Oct '23 49.86 L shares Sep '26
Your own record
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