Revenue and Profitability Trends
Campus Activewe. recorded a substantial increase in net sales, rising from ₹732.04 crores in March 2020 to ₹1,194.18 crores by March 2022. This growth reflects a robust expansion in the company's market presence and operational scale. Correspondingly, total operating income mirrored this upward trend, with no other operating income reported during this period.
Operating profit before depreciation and interest (PBDIT) excluding other income showed a marked improvement, climbing from ₹136.25 crores in March 2020 to ₹241.53 crores in March 2022. The operating profit margin also improved, reaching 20.23% in March 2022 compared to 18.61% in March 2020, indicating enhanced operational efficiency.
Profit before tax surged from ₹98.75 crores in March 2020 to ₹171.28 crores in March 2022, while profit after tax more than doubled from ₹62.37 crores to ₹124.41 crores over the same period. The consolidated net profit followed a similar pattern, rising from ₹61.60 crores in March 2020 to ₹125.19 crores in March 2022. Earnings per share (EPS) also reflected this growth, increasing from ₹4.06 to ₹8.23.
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Cost Structure and Margins
The company's expenditure profile expanded in line with revenue growth. Raw material costs increased from ₹413.83 crores in March 2020 to ₹672.24 crores in March 2022, while other expenses rose from ₹158.62 crores to ₹287.44 crores during the same period. Despite these increases, the company managed to improve its gross profit margin from 16.64% in March 2020 to 18.8% in March 2022, signalling effective cost management and pricing strategies.
Employee costs remained relatively stable, with a slight increase from ₹57.04 crores in March 2020 to ₹67.86 crores in March 2022. Notably, the company reported no power, manufacturing, or selling and distribution expenses in these years, which may reflect accounting classifications or operational efficiencies.
Balance Sheet and Financial Position
Campus Activewe.'s total assets grew significantly, from ₹659.36 crores in March 2020 to ₹945.26 crores in March 2022. This growth was supported by increases in both non-current assets and current assets, with inventories rising from ₹169.91 crores to ₹354.28 crores and sundry debtors increasing from ₹144.32 crores to ₹133.68 crores, indicating higher operational scale and working capital requirements.
Shareholders' funds strengthened from ₹284.75 crores in March 2020 to ₹427.59 crores in March 2022, reflecting retained earnings and reserves accumulation. Meanwhile, total liabilities also increased, with total debt reducing from ₹243.26 crores in March 2020 to ₹174.29 crores in March 2022, suggesting a deleveraging trend. The book value per share improved from ₹9.38 to ₹14.05 over the same period, enhancing shareholder value.
Cash Flow Dynamics
Cash flow from operating activities showed variability, with ₹99 crores generated in March 2020, rising to ₹124 crores in March 2021, but declining sharply to ₹17 crores in March 2022. This decline was influenced by significant changes in working capital, which saw a negative movement of ₹189 crores in March 2022 compared to positive adjustments in prior years. Investing activities consistently reflected outflows, with ₹34 crores spent in March 2022, while financing activities fluctuated, including a positive inflow of ₹15 crores in March 2022 after a substantial outflow in the previous year.
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Summary of Historical Performance
Over the three-year period ending March 2022, Campus Activewe. has exhibited strong revenue growth and improved profitability margins, supported by effective cost control and operational efficiencies. The company’s balance sheet reflects a healthier financial position with increased shareholder equity and reduced debt levels. However, the recent decline in operating cash flow highlights the importance of monitoring working capital management closely.
Investors analysing Campus Activewe.'s historical performance should note the consistent upward trajectory in earnings and net profit, alongside a solid asset base and improving book value per share. These factors collectively underscore the company’s capacity to generate value and sustain growth in a competitive footwear and apparel market.
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