Q3FY23 Quarterly Result Announced for Campus Activewear Ltd.
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 PDF17-02-2023
