Campus Activewear (CAMPUS) Q3 25/26 earnings summary

Executive summary

• Achieved 14.3% YoY revenue growth in Q3 FY26 to INR 588.6 Cr, with PAT up 37% and EBITDA up 34.8%, driven by premiumization, distribution expansion, and festive demand.

• Direct-to-consumer channels contributed 50.6% of revenue in Q3 FY26, up from 48.2% YoY, and 8.3 million pairs were sold, an 8.6% increase YoY.

• Focused on premiumization, with ASP rising 5.2% YoY to INR 711, aided by higher premium SKU saliency and refreshed collections.

• Launched "You Go Girl" campaign, strengthening the women's category, which improved its revenue mix from 18.7% to 22%.

• Board approved unaudited financial results for Q3 and 9M FY26, with a limited review and unmodified report issued.

Financial highlights

• Q3 FY26 revenue from operations was INR 589 crores, up from INR 391.76 crores in Q3 FY25; PAT for Q3 was INR 63.7 crores, with a PAT margin of 10.7%.

• Gross margin improved to 53.1% from 51.2% YoY, driven by a higher sneaker mix and improved product/channel mix.

• EBITDA stood at INR 115.8 crores, with EBITDA margin at 19.5%, up 290 bps YoY.

• For 9M FY26, revenue was INR 1,318.5 crores and net profit was INR 105.95 crores, up from INR 1,187.25 crores and INR 86.15 crores YoY.

• Basic EPS for Q3 FY26 was INR 2.08, compared to INR 1.52 in Q3 FY25.

Outlook and guidance

• Management remains confident in sustaining growth due to strategic initiatives and operational improvements, with plans to diversify products and deepen omni-channel experience.

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

• No specific forward-looking estimates or quantitative guidance provided.

• Management continues to monitor regulatory changes, including new labour codes, and will adjust accounting as needed.