India · Delayed Price · Currency is INR Campus Activewear Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY26 saw 14.3% YoY revenue growth and 37% PAT growth, driven by premium sneakers, women's category expansion, and strong online and distribution channels. Gross margin rose to 53.1%, with robust operational execution and new athleisure apparel launches supporting future growth.
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Q2 FY26 saw 16% revenue and 40% PAT growth, led by premium and distribution channels. Premium segment saliency rose, gross margin improved, and capacity expansion is underway. GST cuts and new product launches are expected to drive continued double-digit growth.
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Revenue grew 1.2% year-over-year to INR 343 crore, with gross margin up 210 bps to 55.4% and EBITDA margin at 15.9%. Premiumization, especially in sneakers, offset volume declines, while supply chain transitions impacted online sales. Management maintains double-digit growth guidance.
Fiscal Year 2025
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Revenue grew 10% year-over-year to INR 1,593 crore, with strong volume growth, margin expansion, and a 150% increase in sneaker sales. Operational efficiency improved, and the company remains debt-free, with positive outlook supported by new capacity and digital initiatives.
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Q3 FY25 revenue rose 9.1% year-over-year to INR 515 crores, with strong growth in sneakers and online channels. Margins improved due to normalized costs, and non-VIS inventory liquidation is nearly complete, supporting margin normalization in FY26.
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Q2 FY25 saw 28.8% revenue growth and 36% volume growth, driven by strong distribution and online channels, despite margin dilution from promotions and non-BIS inventory liquidation. Capacity expansion and premiumization strategies are set to support future growth.
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Q1 FY25 saw 3% volume growth and stable gross margins despite revenue pressure from extreme weather and lower ASPs due to open footwear. Online marketplace grew 24% while B2C online declined 5%. Demand is expected to recover post-monsoon, with margins set to improve as conditions normalize.