Ind-Ra revises rating of Campus Activewear Ltd

India Ratings and Research (Ind-Ra) has revised Campus Activewear Limited's (CAL), erstwhile Campus Activewear Private Limited, Outlook to Positive from Stable while affirming the Long-Term Issuer Rating at 'IND A+'.

Ind-Ra continues to take a consolidated view of CAL and its 99.9% subsidiary, Campus AI Private Limited ('IND A+'/Stable), jointly referred to as the Campus Group, for the ratings, as both the entities have strong legal, operational and strategic linkages between them and are engaged in the same line of business of manufacturing footwear under the Campus brand. The management plans to merge the entities over the next six months.

The Outlook revision reflects a sustained premiumisation of the portfolio, resulting in a substantial increase in revenue and EBITDA during FY22, and the likelihood of the growth continuing over FY23, while maintaining a strong credit profile. Moreover, after the initial public offering and listing in May 2022, the company's corporate governance and financial disclosures have improved.

Shares of Campus Activewear Limited was last trading in BSE at Rs. 379.35 as compared to the previous close of Rs. 375.95. The total number of shares traded during the day was 13193 in over 698 trades.

The stock hit an intraday high of Rs. 381.50 and intraday low of 371.30. The net turnover during the day was Rs. 4965787.00.

Source : Equity Bulls

Keywords

CampusActivewear INE278Y01022 Footwear RatingUpdate