Campus Activewear (CAMPUS) Q3 24/25 earnings summary

Executive summary

• Achieved highest-ever quarterly revenue of INR 514.9 crores in Q3 FY25, up 9.1% year-over-year, driven by aggressive distribution, online sales, and festive demand.

• Sales volume grew 10% year-over-year to 7.6 million pairs, with direct-to-consumer channels contributing 48.2% of revenue.

• Launched 69 new products and over 65 new designs, expanding exclusive brand outlets to 290 and maintaining 2,700+ active styles.

• Strengthened brand presence through multimedia campaigns, partnerships with quick commerce platforms, and increased advertising spend.

• Interim dividend of Rs. 0.70 per share declared, representing 24.8% of PAT for FY 2024-25.

Financial highlights

• Q3 FY25 revenue: INR 514.9 crores (+9.1% YoY); net profit: INR 46.5 crores, nearly doubling YoY; EBITDA: INR 85.9 crores with margin at 16.7%.

• Sold 7.6 million pairs in Q3 FY25; average selling price per pair: INR 675 (-0.9% YoY).

• Gross margin for Q3 FY25 at 51.2%, down 20 bps YoY; PAT margin expanded to 9.0%.

• Working capital days improved to 65 in TTM 9MFY25 from 76 in FY21.

• Basic and diluted EPS for Q3 FY25 was INR 1.52, up from INR 0.82 in Q3 FY24.

Outlook and guidance

• Margins expected to normalize in FY26 as non-VIS inventory is largely liquidated by March end.

• Price hikes of 7%-10% in select categories to offset raw material inflation, with 2%-3% overall impact.

• Focus on product diversification, premiumization, omni-channel expansion, and deeper penetration in western and southern India.

• Enhanced focus on women, children, and kids segments to drive future growth.

• Interim dividend to be paid to shareholders as of record date 17 February 2025.