Campus Activewear Ltd announces Q4, FY2024 results

Campus Activewear Limited, India's largest omnichannel sports and athleisure footwear brand, has announced its results for the quarter and year ended March 31, 2024.

Financial Results - Q4 FY24

- Revenue from operations stood at INR 363.9 Cr in Q4 FY24 owing to renewed focus on trade distribution. The revenues dropped by -22.9% QoQ due to seasonality effect.

- The sales volume stood at 5.7 million pairs in Q4 FY24.

- Campus Activewear's ASP stood at INR 636 in Q4 FY24 vis-a-vis INR 632 in Q4 FY23.

- EBITDA stood at INR 66.4 Cr in Q4 FY24: EBITDA margin at 18.3% during the quarter.

- PAT was at INR 32.7 Cr in Q4 FY24: PAT margin at 9.0 % during the quarter.

Financial Results - FY24

- Revenue from operations stood at INR 1,484.3 Cr in FY24.

- The sales volume stood at 22.2 million pairs in FY24.

- Campus Activewear's ASP stood at INR 652 in FY24 vis-a-vis INR 631 in FY23.

- EBITDA stood at INR 215.3 Cr in FY24; EBITDA margin at 14.9% during the period.

- PAT stood at INR 89.4; PAT margin at 6.2% in FY24.

Commenting on the results and performance, Campus Activewear's CEO Mr. Nikhil Agarwal said, "We would like to perceive FY24 as a transitionary year. Campus Activewear made a strong comeback in H2FY24 with vigoured focus on trade distribution and new launches. The Company was successful in grabbing customer's mindshare and wallet share from its prudent investment in the brand for its R&D enabled products.

Campus Activewear continued to expand its geographical footprints in FY24. The Company added 66 stores in Western, Southern and Eastern states of India taking the total EBOs to 250+ during the year.

Despite of challenging business environment, we remained committed to strengthen our balance sheet. The Company repaid its borrowing of INR 156 Crore in FY24, thereby achieving net-debt free status during FY24. Additionally, we have made significant improvement in our working capital days from 108 days in FY23 to 79 days in FY24 led by lower inventory and conscious trimming of receivable days.

Campus Activewear strives to bring the best global design and technology backed Sports and Athleisure footwears to its customers with a diverse product portfolio, multiple colour styles and value-for-money proposition. With its strong balance sheet position, the management remains committed to scale and strengthen its omni-channel capabilities, deliver exceptional consumer experience through innovative products and continue to strengthen Campus brand recall as an integral part of the daily active lifestyle of every Indian family."

Shares of Campus Activewear Limited was last trading in BSE at Rs. 255.00 as compared to the previous close of Rs. 255.85. The total number of shares traded during the day was 118027 in over 2828 trades.

The stock hit an intraday high of Rs. 262.20 and intraday low of 251.95. The net turnover during the day was Rs. 30383101.00.

Source : Equity Bulls

Keywords

CampusActivewear INE278Y01022 Footwear Q4FY24 FY2024 ResultUpdate FY24