Conference Call with Campus Activewear Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
Footwear company Campus Activewear announced Q4FY23 & FY23 results: Q4FY23: Revenue from operations stood at Rs 3,477.5 million in Q4FY23, marginally lower than Q4FY22 on account of demand contraction being witnessed in rural and semi-urban areas. The sales volume stood at 5.5 million pairs in Q4FY23 as against 5.6 million pairs in Q4FY22, lower by 2.1% YoY. Campus Activewear's ASP stood at Rs 632 in Q4FY23 vis-à-vis Rs 627 in Q4FY22. EBITDA stood at Rs 571.2 million; EBITDA margins at 16.4% in Q4FY23. PAT stood at Rs 229.5 million; PAT margin at 6.6% in Q4FY23. FY23: Revenue from operations surged by 24.3 % YoY to Rs 14,842.5 million in FY23 led by growth across channels including trade distribution, D2C online, and D2C offline. The sales volume stood at 23.5 million pairs in FY23 as against 19.3 million pairs in FY22, thereby registering 22.1 % YoY volume growth. Campus Activewear's ASP stood at Rs 631 in FY23 vis-à-vis Rs 620 in FY22. EBITDA grew by 4.9% YoY to Rs 2,563.3 million; EBITDA margin contracted by 319 bps YoY to 17.3 % in FY23. PAT grew by 7.9 % YoY to Rs 1,171.2 million in FY23; PAT margin stood at 7.9 % in FY23. The Company will continue to leverage its strong brand recall and leadership position coupled with an enhanced focus on adding new styles across categories making Campus Activewear the preferred ‘One Stop Family Sports and Athleisure Omnichannel Brand’. Commenting on the results and performance, Campus Activewear’s CEO Nikhil Agarwal said, “I am pleased to share that Campus Activewear recorded its highest ever revenues at Rs 1,484.25 crore in FY23, registering a growth 24.3% YoY led by growth across channels including trade distribution, D2C online and D2C offline. The year gone by was special as we surpassed the EBO milestone of 200 retail stores with our first EBO at Kochi. Campus Activewear enhanced its retail presence with the addition of 95 new EBOs taking the total EBOs to 202 by FY23. Thus, we are steadily expanding our footprints by deepening our presence in Western and Southern Indian States. Our data-centric approach facilitates us to proactively respond and launch styles as per the changing consumer trend and demand, design & colours, and price movements across categories. Additionally, the investment in the sales digitization process has amplified our go-to-market strategy with enhanced merchandising, design efficiency, and high customer satisfaction resulting in strong brand recall across omnichannel platforms. Indian Sports and Athleisure footwear is a sunrise industry with sports and fitness quotient grabbing a significant mind share amongst customers across India including metros, Tier II cities, and hinterland areas. Campus Activewear is well placed to satiate the evolving customer demands and create value for its stakeholders in the coming years with its robust business model laced with a vertically integrated manufacturing ecosystem, growing omnichannel presence, premiumization focus, product diversification across product segments & categories backed with strong balance sheet position.” Result PDF
Footwear company Campus Activewear announced Q3FY23 results: Q3FY23: Revenue from operations grew by 7.4% YoY to Rs 4,656.2 million in Q3FY23 driven by robust growth in Online Channels. Direct to Customers channel demonstrated an YoY growth of 45.6% demand. The sales volume stood at 7.0 million pairs in Q3FY23 as against 6.6 million pairs in Q3FY22, thereby registering 5.5% YoY volume growth. Campus Activewear's ASP stood at Rs 669 in Q3 FY23 vis-à-vis Rs 657 in Q3FY22. EBITDA stood at Rs 927.9 million; EBITDA margins at 19.9% in Q3FY23 PAT stood at Rs 483.1 million at 10.4% in Q3FY23. The Company continues to outperform the market despite softening of demand from Tier 2, Tier 3 cities, and inflationary headwinds with focussed investments into Direct to Customer Channels. Cumulative additions of EBOs in the last 9 months at 74 of which 25 additional EBOs in Q3FY23. 9MFY23: Revenue from operations surged by 35% YoY to Rs 11,365.0 million in 9MFY23 supported by strong demand from across segments coupled with robust omillionichannel presence. The sales volume stood at 18.0 million pairs in 9MFY23 as against 13.6 million pairs in 9MFY22, thereby registering 32.1% YoY volume growth. Campus Activewear's ASP stood at Rs 630 in 9MFY23 vis-à-vis Rs 617 in 9MFY22. EBITDA grew by 20.3% YoY to Rs 1,992.1 million; EBITDA margins declined by 215 bps YoY to 17.5% in 9MFY23 on account of higher material cost. PAT grew by 10.0% YoY to Rs 941.7 million in 9M FY23; PAT margins stood at 8.3% in 9MFY23. The company continues its endeavour to improve operational metrices with continued focus on faster sales realisation, DSO maintained at 38-40 days range, inventory rationalisation Operating, Cash flow improvement. 9MFY23 at 720 million vs 179 million for FY 22. Commenting on the results and performance, Campus Activewear’s CEO Mr. Nikhil Agarwal said, “Campus Activewears products are steadily making in-roads in the consumer wardrobes through its budget friendly and promise of optimum comfort proposition thanks to the Company’s strong brand recall coupled with attractive styles and designs across categories. Campus Activewear’s continues to satiate the changing customer needs with product innovation and design, thereby driving the brand towards premiumization. “The Indian sports and athleisure footwear market is at an inflexion point with rising fitness quotient amongst customers across India including metros, Tier II cities and hinterland areas. The Company aims to create sustainable growth in the coming years through its omillionichannel experience, focus on premiumization, product diversification across product segments & categories and pan-India distribution network.” Result PDF
Conference Call with Campus Activewear Ltd. Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
Conference Call with Campus Activewear Management and Analysts on Q2FY23 Performance and Outlook. Listen to the full earnings transcript.
Footwear company Campus Activewear announced Q2FY23 results: Q2FY23: Revenue from operations increased by 22.0% YoY to Rs 3,331.7 million in Q2FY23 despite tepid demand and inflationary headwinds The sales volume stood at 5.5 million pairs in Q2FY23 as against 4.7 million pairs in Q2FY22, thereby registering 15.9% YoY volume growth Campus Activewear's ASP stood at Rs 608 in Q2FY23 vs Rs 577 in Q2FY22 All channels, including Trade Distribution, E-Commerce and Exclusive Retail demonstrated profitable growth EBITDA stood at Rs 441.8 million; EBITDA margins at 13.3% in Q2FY23 PAT stood at Rs 145.4 million in Q2FY23 H1FY23: Revenue from operations increased by 64.3% YoY to Rs 6,708.8 million in H1FY23 supported by favourable demand from across all segments coupled with robust growth across the D2C channel The sales volume stood at 11.1 million pairs in H1FY23 as against 7.0 million pairs in H1 FY22, thereby registering 57.0% YoY volume growth Campus Activewear's ASP stood at Rs 606 in H1FY23 vs Rs 579 in H1FY22 EBITDA grew by 47.1% YoY to Rs 1,064.2 million; EBITDA margins declined by 186 bps YoY to 15.9% in H1FY23 on account of relatively higher raw material inflation. PAT grew by 48.6% YoY to Rs 458.6 million in H1FY23; PAT margin stood at 6.8% in H1FY23 Campus Activewear’s CEO Nikhil Aggarwal said, “The company continues to leverage its strong brand recall, including an array of choices across styles, colour palettes, price points and an attractive product value proposition of bestsellers, making Campus Activewear the preferred sports and athleisure footwear brand amongst consumers. The company launched 100 styles in H1FY23, including the new ‘Autumn-Winter’ collection, which continues to attract new customers and business partners. Further, the company plans to launch 200 new shoe styles by the end of FY23.” Result PDF
Conference Call with Campus Activewear Management and Analysts on Q1FY23 Performance and Outlook. Listen to the full earnings transcript.
Footwear firm Campus Activewear announced Q1FY23 Result : Revenue from operations increased by 149.6% YoY to INR 3,377.1 Mn in Q1 FY23 supported by strong demand from across segments coupled with robust omnichannel presence. Both Trade Distribution and Direct-to-Customer channels have demonstrated robust YoY growth to the tune of 147% and 150% respectively. EBITDA witnessed a strong growth of 287.5% YoY to INR 622.4 Mn EBITDA margins expanded by 656 bps YoY to 18.4% in Q1 FY23 owing to better operating leverage PAT grew 13.5x times YoY to INR 286.6 Mn in Q1 FY23; PAT margins expanded by 703 bps YoY to 8.5% in Q1 FY23 Commenting on the results and performance, Campus Activewear’s CEO, Mr. Nikhil Aggarwal said, “Campus Activewear began its FY23 journey on a positive note by delivering healthy operational performance during Q1FY23. This performance was largely supported by robust product portfolio of fashion forward designs, best product value proposition and never-out-of-stock approach. The Company’s strong brand recall amongst preferred sports and athleisure footwear brand positions us uniquely to garner a wider share of the market. Campus Activewear continues to enhance its omnichannel experience focusing on premiumization and product diversification across product segments and categories. The Company aims to widen its presence in Western and Southern parts of India. Campus Activewear has a robust business model facilitating the Company to tap the growing Indian sports and athleisure footwear industry.” Result PDF