Campus Activewear Ltd (BOM:543523) Q4 2026 Earnings Call Highlights: Strong Online Growth and ...

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• Revenue Growth (Q4 FY26):12.3% year-on-year to INR 4.56 crores.

• Online Channel Growth (Q4 FY26):18.9% year-on-year.

• Distribution Channel Growth (Q4 FY26):5.5% year-on-year.

• Average Selling Price (Q4 FY26):INR 668 per pair, a 1.5% increase year-on-year.

• Gross Margin (Q4 FY26):52.1%, slightly down from 52.3% in Q4 FY25.

• EBITDA (Q4 FY26):INR 88.5 crores, with a margin of 19.2%.

• PAT (Q4 FY26):INR 44.1 crores, with a margin of 9.6%.

• Revenue Growth (FY26):11.4% to INR 1,774 crores.

• Average Selling Price (FY26):INR 683, a 7% increase year-on-year.

• Gross Margin (FY26):53.5%, up from 52.3% in FY25.

• EBITDA (FY26):INR 314.7 crores, with a margin of 17.5%.

• PAT (FY26):INR 150.1 crores, with a margin of 8.4%.

• Return on Capital Employed:22.4% as of March 26.

• Return on Equity:18.1% as of March 26.

• Store Count:Exclusive brand outlet network steady at 300 stores.

• Warning! GuruFocus has detected 2 Warning Sign with BOM:543523.

• Is BOM:543523 fairly valued? Test your thesis with our free DCF calculator.

Release Date: May 25, 2026

For the complete transcript of the earnings call, please refer to the full earnings call transcript .

Positive Points

• Campus Activewear Ltd ( BOM:543523 ) reported a 12.3% year-over-year revenue growth, driven by an 18.9% increase in online channels and a 5.5% growth in distribution channels.

• The company successfully launched nearly 250 new SKUs in FY26, enhancing its product mix and reinforcing its brand identity.

• Campus Activewear Ltd ( BOM:543523 ) maintained a strong balance sheet with a return on equity of 18.1% and a return on capital employed of 22.4%.

• The company's sneaker portfolio showed strong momentum, contributing significantly to the overall volume and reflecting growing consumer preference.

• The company has a fully integrated manufacturing ecosystem, allowing for an accelerated time to market of 80 to 100 days, which provides a competitive edge in introducing new designs.

Negative Points

• Gross margins slightly declined to 52.1% in Q4 FY26 from 52.3% in Q4 FY25, primarily due to GT charges impact in the online business.

• The company faced inflationary pressures in raw materials and minimum wage impacts, necessitating price hikes across its product range.

• Inventory days increased by approximately 5 to 6 days in FY26, leading to a longer cash conversion cycle.

• Despite ongoing capacity expansion, the company is cautious about potential geopolitical developments and inflationary pressures that could impact future performance.

• The company reported a lower average selling price (ASP) growth of 1.5% year-over-year in Q4, attributed to changes in accounting for GT charges in the online business.