Campus Activewear LimitedQ1 FY27 Results & Financial Update
Campus Activewear Limited: Q1 FY27 standalone results and company financials – revenue ₹385.20 Cr, PAT ₹26.14 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Campus Activewear Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Campus Activewear recorded standalone revenue from operations of INR 385.2 crore for the quarter ended June 30, 2026, alongside total income of INR 393.24 crore.
Profit before tax for the standalone entity reached INR 35.29 crore, while profit after tax stood at INR 26.14 crore, translating to basic earnings per share of INR 0.86 for the quarter.
Operational performance for Q1 FY27 saw total sales volume reach 5.7 million pairs of footwear, supported by an average selling price (ASP) of INR 674 per pair.
The direct-to-consumer (D2C) channel generated 46.1 percent of revenue during the quarter, reflecting an ongoing strategic shift toward higher-margin direct retail touchpoints and digital channels.
Cost structures for the period included employee benefit expenses of INR 37.1 crore, advertising and sales promotion expenses of INR 30.5 crore, finance costs of INR 4.81 crore, and depreciation and amortization of INR 22.61 crore.
Management highlighted brand transformation initiatives, including the launch of the Elan neo-casual footwear category featuring actor Jim Sarbh, aimed at capturing younger demographic segments and expanding into lifestyle categories.
Profit after tax was ₹26.14 Cr for the reported quarter. EPS was ₹0.86 for the reported quarter.
01 · Business model
What does Campus Activewear do?
Campus Activewear Limited designs, manufactures, and distributes sports and athleisure (S&A) footwear in India, maintaining a comprehensive product portfolio that covers over 85 percent of the domestic S&A footwear market across various price segments from entry-level to premium-plus.
The company operates a vertically integrated manufacturing ecosystem supported by an extensive network of in-house assembly units, sole manufacturing facilities at Ganaur, and upper-manufacturing plants at Haridwar, Ponta, and Pant Nagar, complemented by dedicated third-party fabricators.
Go-to-market distribution spans a multi-channel framework comprising traditional trade distribution, exclusive brand outlets (EBOs), large format store (LFS) counters, and direct-to-consumer (D2C) online marketplaces such as Flipkart, Myntra, and Nykaa.
Recent business expansion initiatives include entry into new product categories such as apparel and neo-casual footwear under the Elan brand, broadening the company's addressable lifestyle market.
02 · Historical context
What shaped the business before this quarter
The company completed its initial public offering in FY23, by which time its Exclusive Brand Outlet (EBO) count had surpassed 250 stores and D2C revenue contribution had exceeded 37 percent.
Production commenced at the Ponta and Pant Nagar upper facilities during FY26, alongside the introduction of the apparel segment and further capacity enhancements at Ganaur and Haridwar.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹385.20 Cr |
| Total income | ₹393.24 Cr |
| Profit before tax | ₹35.29 Cr |
| Profit after tax | ₹26.14 Cr |
| EPS | ₹0.86 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 6.8% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 9.2% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹8.04 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
The company sold 5.7 million pairs of footwear during Q1 FY27, compared to 5.1 million pairs in the corresponding period of the previous year.
Trade distribution accounted for 53.9 percent of channel sales during Q1 FY27, while D2C online contributed 32.9 percent and D2C offline contributed 13.2 percent.
Realization per pair settled at INR 674 during the quarter, reflecting stable realization across core athletic and athleisure lines.
What drove margins
Gross margin for Q1 FY27 stood at 55.9 percent (INR 219.8 crore on gross revenue basis), supported by price stability and premiumization trends.
Total expenses for the standalone entity reached INR 357.95 crore, driven by employee expenses of INR 37.1 crore and targeted advertising and sales promotion investments of INR 30.5 crore to build brand fashion authority.
05 · Demand, customers & order book
Where demand is coming from
The distribution network encompasses over 31,000 retail touchpoints spread across more than 850 districts and 28 states, backed by over 260 distributors and 200 internal sales force employees.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company expanded its product scope during the period by introducing the Elan neo-casual footwear category and scaling its presence in the apparel segment.
Products priced above INR 1,500 contributed 53.8 percent of revenue, items priced between INR 1,050 and INR 1,499 contributed 24.6 percent, and products priced below INR 1,050 accounted for 21.6 percent.
Geography and market mix
Regional revenue breakdown for Q1 FY27 indicated that the Northern region represented 45.9 percent of sales, Eastern region 32.9 percent, Southern region 8.4 percent, Western region 19.5 percent (combined channel metrics per regional mapping), and exports a minor share.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Total annual assembly capacity stood at 31.1 million pairs as of June 30, 2026, combining in-house assembly (100 percent managed internally) with a strategic mix of in-house and outsourced upper and sole manufacturing.
Projects, capex and execution
Operations are supported by specialized facilities including Haridwar I & II, Ponta, Pant Nagar, Ganaur, and Baddi units, providing a manufacturing lead-time advantage of 60 to 90 days.
08 · Strategy & new businesses
How the company is trying to change its growth mix
Introduction of the Elan neo-casual footwear line with actor Jim Sarbh as the face of the brand, aiming to capture urban lifestyle demand and establish a premium visual identity.
09 · Reported developments
What changed operationally
The Elan campaign garnered over 11.7 million views across Instagram and digital platforms within its first month, backed by 18 high-content pieces driving 127,000+ interactions.
10 · Beyond the numbers
What changed beyond the numbers
Reported update
Refreshed Brand Identity
Campus Activewear unveiled a refreshed corporate brand identity and organized a distributor convention ('Shoe case 2026') to align partners with the company's next growth phase.
11 · Key Q&A
The quarter, answered directly
What does Campus Activewear do?
Campus Activewear Limited designs, manufactures, and distributes sports and athleisure (S&A) footwear in India, maintaining a comprehensive product portfolio that covers over 85 percent of the domestic S&A footwear market across various price segments from entry-level to premium-plus.
What is the clearest takeaway from Q1 FY27?
Campus Activewear recorded standalone revenue from operations of INR 385.2 crore for the quarter ended June 30, 2026, alongside total income of INR 393.24 crore.
What drove revenue or demand?
The company sold 5.7 million pairs of footwear during Q1 FY27, compared to 5.1 million pairs in the corresponding period of the previous year.
What mattered most for margins or profitability?
Gross margin for Q1 FY27 stood at 55.9 percent (INR 219.8 crore on gross revenue basis), supported by price stability and premiumization trends.
What changed operationally beyond the headline numbers?
Total annual assembly capacity stood at 31.1 million pairs as of June 30, 2026, combining in-house assembly (100 percent managed internally) with a strategic mix of in-house and outsourced upper and sole manufacturing.
What should the next disclosure help confirm?
Monitor the ongoing shift toward direct-to-consumer digital and offline retail channels relative to traditional trade distribution.
12 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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13 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Channel Mix Evolution: Monitor the ongoing shift toward direct-to-consumer digital and offline retail channels relative to traditional trade distribution.
- 02
Elan Category Traction: Track consumer adoption and retail rollout velocity of the newly introduced Elan neo-casual footwear and apparel segments.
Learn the metrics
Need the concepts first?
Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.