Campus Activewear Ltd. · NSE:CAMPUS
Campus Activewear — Q2 FY26 Earnings Presentation
33 slides from Campus Activewear's earnings presentation, Nov 12, 2025
Slide 1: Stock exchange filing cover letter
12th November 2025 To, BSE Limited National Stock Exchange of India Ltd. Corporate Relationship Department Exchange Plaza, C-1, Block G, 1st Floor, New Trading Ring, Rotunda Building, Bandra Kurla Complex, Bandra (East), P. J. Towers, Dalal Street, Mumbai – 400 051 Mumbai – 400 001 SCRIP CODE: 54352
Slide 2: Investor Presentation Q2 FY26
CAMPUS ACTIVEWEAR LIMITED INVESTOR PRESENTATION Q2- FY 26 | 12 NOVEMBER 2025
Slide 3: Table of Contents
TABLE OF CONTENTS 01 Business Snapshot 02 Business Highlights 03 Business Performance – Q2 FY26 04 Growth Vectors 05 Industry Landscape 2
Slide 4: Disclaimer
Disclaimer IMPORTANT: You must read the following before continuing. The following applies to this document, the oral presentation of the information in this document by Campus Activewear Limited (the “Company”) or any person on behalf of the Company, and any question-and-answer session that follows
Slide 5: Our Journey to Become India's #1 S&A Footwear Brand
Our Journey to Become India’s #1 S&A Footwear Brand Backward integration initiative – Upper EBO store Manufacturi count ng facility at crosses 250 Haridwar Backward & integration Inception of Successful initiative - Sole IPO – Campus Upper the EBO store Implentation Manufacturing On- launch of Manuf
Slide 6: Business Snapshot
01 BUSINESS SNAPSHOT 5
Slide 7: India's Largest & Fastest Growing Scaled Sports & Athleisure Footwear Brand
CAMPUS - India’s Largest & Fastest Growing Scaled Sports & Athleisure Footwear Brand 46. 4% 28,000+ Revenue from Operations* 46.4% Revenue Contribution from Direct-to- 28,000+ Retailers across 700+ districts and 28 Q2 FY26: INR 386.6 Cr (+16.0% YoY Gr%) Consumer Channels during Q2 FY26 vs 48.1% stat
Slide 8: Product – Placement – Promotion Interplay Generating Business MOAT
Product – Placement – Promotion Interplay Generating Business MOAT Internal Strengths Curated Over the Years Across Product Design, Supply Chain, Distribution and Marketing is Onerous to Replicate Sustained focus on Product Innovation and Design Integrated Manufacturing Ecosystem 30.7 mm Exclusive a
Slide 9: Experienced Management & Professional Board at the Helm of Affairs
Experienced Management & Professional Board at the Helm of Affairs Key Management Board of Directors Mr. H.K. Agarwal Mr. Nikhil Sanjay Chhabra ◼ Whirlpool Chairman & Aggarwal Chief Financial Mr. H.K. Agarwal Mr. Nikhil ◼ One of the ◼ One of the ◼ Carlsberg Managing Promoters of CEO & Whole-Time Pro
Slide 10: Key Pillars of Business MOAT
Key Pillars of Business MOAT Superior Product Vertically Integrated Omni-Channel Innovative Marketing Digitization of Sales 1 Innovation and Design 2 Manufacturing 3 4 5 Customer Experience Capabilities Process Capabilities Ecosystem Innovation, Annual assembly Pan-India omni- Move from stand- Advan
Slide 11: Business Highlights
02 BUSINESS HIGHLIGHT 10
Slide 12: Superior Product Innovation and Design Capabilities
Manufacturing Product Design Distribution Marketing Digitization Ecosystem 1 Superior Product Innovation and Design Capabilities Highly experienced in-house Global Design Consultancy Network team of 30+ designers and Design Sourcing Tie-ups Deliver New and Identify emerging international fashion tre
Slide 13: Vertically Integrated Manufacturing Ecosystem
Manufacturing Product Design Distribution Marketing Digitization Ecosystem 2 Vertically Integrated Manufacturing Ecosystem Annual Assembly Capacity of 30.7 mm pairs (1) Uppers In-house 32.7% Haridwar I Haridwar II ✓ 90% domestic raw material sourcing Outsourced 67.3% Paonta ✓ Exclusive ancillary net
Slide 14: Omni Channel Platform to Reach Customers Where They Are
Manufacturing Product Design Distribution Marketing Digitization Ecosystem 3 Omni Channel Platform to Reach Customers Where Pan-India Distribution They Are Presence (28,000+ Retail Pan India Distribution Presence All-Inclusive Use of E-commerce Channels Touchpoints in more than Established Pan-India
Slide 15: Build Fashion Leadership by Anchoring Style Culture
Manufacturing Product Design Distribution Marketing Digitization Ecosystem 4 BUILD FASHION LEADERSHIP BY ANCHORING STYLE CULTURE ACTIVATING MULTIPLE DIGITAL TOUCHPOINTS • Association with Grazia’s flagship property • Association with Elle’s global fashion amplified Campus’ style-first credibility wi
Slide 16: Retailer Meet 2025
Manufacturing Product Design Distribution Marketing Digitization Ecosystem RETAILER MEET 2025 – ACTIVATED 150+ RETAILER MEET ACROSS THE NATION • Celebrating the shared collective vision • Retailers were showcased upcoming range of 650+ SKU’s and orders were pre- booked • Key partners were felicitate
Slide 17: Creating Consistent, High-Visibility Branding Across Retail Eco-System
Manufacturing Product Design Distribution Marketing Digitization Ecosystem CREATING CONSISTENT, HIGH-VISIBILITY BRANDING ACROSS RETAIL ECO-SYSTEM ACTIVATING ALL TOUCH POINTS • Shopper marketing across stores • Numerous multi-branded outlets across 25 states and all exclusive campus brand store • Cle
Slide 18: Digitization of Sales Process Generated a Virtuous Flywheel
Manufacturing Product Design Distribution Marketing Digitization Ecosystem 5 Digitization of Sales Process has Generated a Virtuous Flywheel enabling Faster Speed to Market Our Data Centric Approach allows us to understand Investment in D2C & Faster customer Consumer Demand Trends, Tech initiatives
Slide 19: Business Performance
03 BUSINESS PERFORMANCE 18
Slide 20: Q2 FY26 – Financial & Business Highlights
Q2 FY26– Financial & Business Highlights In INR Cr. YOY QOQ Parameters Q2 Q1 Q2 Growth Growth (INR Cr.) FY26 FY26 FY25 % % Revenue* 386.6 343.3 333.3 16.0% 12.6% EBITDA 55.0 55.4 41.6 32.3% -0.7% PAT 20.1 22.2 14.3 40.4% -9.6% FINANCIAL HIGHLIGHTS Q2FY26 vs Q2FY25 (YoY) ❖ Sales volume at 57.5 lacs p
Slide 21: Statement of Profit & Loss
Statement of Profit & Loss In INR Cr. Particulars (INR Cr) Q2-FY26 Q1-FY26 Q2-FY25 Gr% vs LY Gr% vs QoQ Revenue from Operations* 386.6 343.3 333.3 16.0% 12.6% Total Income** 391.8 349.4 336.7 16.3% 12.1% 211.3 193.6 177.9 18.8% 9.2% Gross Margin 53.9% 55.4% 52.8% 2.1% -2.6% Employee Cost 34.2 32.
Slide 22: Q2 FY26 & TTM 6MFY26 – Financial Highlights
Q2 FY26 & TTM 6MFY26– Financial Highlights Revenue from Operations (1) (INR Cr) Volume Sold (# mm) Average Selling Price (INR / Pair) 514.9 658 675 658 671 672 405.7 386.6 622 608 Quarterly 333.2 339.2 333.3 343.3 258.7 585 Q2FY23 Q2FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q2FY23 Q1FY26 Q2FY24
Slide 23: Revenue: Segmental Analysis
Q2 FY26 & TTM 6MFY26 Revenue: Segmental Analysis Trade Distribution Channel Campus Activewear Limited (1) 813.0 832.9 881.9 743.2 767.8 535.3 1,593.0 1,650.5 1,484.3 1,448.3 FY21 FY22 FY23 FY24 FY25 TTM 1,194.2 6MFY26 Annual 711.3 Direct to Consumer Channel FY21 FY22 FY23 FY24 FY25 TTM 6MFY26 746.5
Slide 24: Q2 FY26 & TTM 6MFY26 – Financial Highlights
Q2 FY26 & TTM 6MFY26– Financial Highlights Revenue from Operations (1) (INR Cr) EBITDA (2)&(4) (INR Cr) Profit After Tax (3)&(4) (INR Cr) 13.3% 9.6% 15.8% 12.3% 16.6% 18.7% 15.9% 14.0% 7.4% 9.0% 8.5% 4.4% 0.1% 4.2% 6.4% 5.0% EBITDA Margin (%) PAT Margin (%) 46 86 77 Quarterly 35 54 55 55 25 44 42 22
Slide 25: Working Capital Trends
Q2 FY26 & TTM 6MFY26 - Working Capital Trends Days Sale Outstanding (2) Days Payable Outstanding (2) Net Receivables/Rs Cr. 121.3 115.9 155.2 147.5 133.1 156.7 Net Payables/Rs Cr. 146.0 183.3 205.5 207.3 213.0 250.7 131 116 62 Annual 89 88 102 36 39 37 35 78 31 FY21 FY22 FY23 FY24 FY25 TTM FY21 FY22
Slide 26: Return Ratios
Q2 FY26 & TTM 6MFY26 - Return Ratios Net Debt (1) Net Debt (1) / EBITDA INR Cr 134.6 173.9 156.8 177.3 1.1 0.7 0.7 Annual 0.6 (35.7) (0.2) (0.6) (161.5) FY21 FY22 FY23 FY24 FY25 TTM FY21 FY22 FY23 FY24 FY25 TTM 6MFY26 6MFY26 Return on Equity (2) (%) Return on Capital Employed (3) (%) 29.3% 30.6% 23.
Slide 27: Growth Vectors
| &* CAMPUS 04. GROWTH VECTORS am
Slide 28: Prime Growth Vectors Going Forward
Prime Growth Vectors Going Forward Product Diversification via Extension into Allied Categories Text Sustained Focus on Premiumization Across Product Segments Further Accentuate our Omni-channel Experience Steadily Extend into New Territories By Deepening our Presence in Western and Southern Regions
Slide 29: India S&A Footwear Market has Attractive Industry Prospects
India S&A Footwear Market has Attractive Industry Prospects Footwear is Expected to be among the fastest Growing segments within the Retail Industry Within Indian Retail Indian Footwear Market Size Total Addressable Market (FY25P) Industry, Footwear is 12% 15% 19% 21% Expected to be One of the 48% 5
Slide 30: Industry Landscape & Positioning
05 INDUSTRY LANDSCAPE & POSITIONING 29
Slide 31: S&A Footwear in India is Highly Underpenetrated
S&A Footwear in India is Highly Underpenetrated Structural Growth Drivers in Place – Increase in Fitness Consciousness and Disposable Income Annual Footwear Consumption Per Capita Annual Expenditure Share of S&A in Footwear Retail on S&A Footwear (pairs per capita) (in US$) 1.9 1.1 15% India’s Per C
Slide 32: Widest Presence Across Price Segments
Widest Presence Across Price Segments Largest Market Coverage Addressing 85%+ of the S&A Footwear Market S&A Footwear Market (FY21) Revenue Contribution for CAMPUS INR 90bn Q2 FY25 Q2 FY26 Premium-Plus Nike 13% (Above INR 3,000) Puma Adidas Priced above INR 1,500 Expansive and Diverse Entry to Premi
Slide 33: Thank You!
&*& CAMPUS Thank You!