Analysts/Institutional Investor Meet/Con. Call Updates

11th August 2026 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: 543523 SYMBOL: CAMPUS Subject: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Transcript of the Earnings Call held with Investors/Analysts Dear Sir/ Ma’am, Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Transcript of Earnings Call held with the Investors/Analysts on Thursday, 06th August 2026 and the same is also available on the Company’s website i.e. www.campusactivewear.com. You are requested to take the same on your records. Thanking you For Campus Activewear Limited Archana Maini General Counsel & Company Secretary Membership No. A16092 Encl: As above Campus Activewear Limited Q1 FY’27 Earnings Conference Call August 06, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Campus Activewear Limited’s Q1 FY’27 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. If you do need assistance during this conference call, please signal an operator by pressing “*”, then “0” on your touch-tone phone. Please note that this conference is being recorded. And now, I hand the conference over to Mr. Hiral Keniya from E&Y LLP. Thank you, and over to you, sir. Hiral Keniya: Thank you, Neerav. Good evening, everyone. On behalf of Campus Activewear Limited, I welcome you all to the Company's Q1 FY’27 Conference Call. To discuss the performance of the company and to answer your questions we have with us the Management Team comprising of Mr. Nikhil Aggarwal – Whole-Time Director and CEO, Mr. Uplaksh Tewary – COO, and Mr. Neeraj Gupta - Finance Controller. Before we proceed this call, I would like to draw your attention to the fact that today's discussion may contain forward-looking statements that are subject to various risks, uncertainties, and other factors which would be beyond management's control. We kindly request to bear in mind that there might be uncertainties while interpreting such statements. Please note that this conference is being recorded. We would now like to start the session with opening remarks from the management team. Afterwards, we will open the floor for an interactive Q&A session. I would now hand over the conference call to Nikhil sir for his opening remarks. Thank you and over to you, sir. Nikhil Aggarwal: Good evening, everyone, and thank you for joining us today for our Q1 FY’27 Earnings Call. We are extremely pleased to begin FY’27 with a relatively strong quarter, delivering 12.2% revenue growth, 11.7% volume growth, stable EBITDA margins of 15.9%, and 17.7% growth in profit after tax. We believe these results reflect the continued strength of the Campus brand, healthy consumer demand across categories and channels, and disciplined execution across the organization. Page 1 of 17 What makes this performance particularly noteworthy is the operating environment in which it was delivered. During the quarter, businesses continued to navigate geopolitical uncertainties, volatility across global supply chains, and inflationary pressures on key raw materials. In addition, we absorbed a significant increase in labor costs following statutory minimum wage revisions, as well as approximately Rs. 2.5 crores of additional depreciation arising from the commissioning and ramp-up of our new manufacturing facilities at Paonta Sahib and Pantnagar. Despite these headwinds, we remained focused on protecting profitability through calibrated pricing actions, disciplined cost management, and operational efficiencies. A key point I would like to highlight is that the impact of our pricing actions is not yet fully reflected in our ASP growth. During the quarter, we implemented MRP increases of approximately 8% across key product categories, resulting in an underlying ASP increase of around 5% in our core Stuck-On category. However, this improvement was largely offset by two temporary factors: 1. First, the revised accounting treatment for Walmart that is Flipkart and Myntra, which came into effect from July 2025, resulted in lower revenue Y-O-Y due to GT charges being netted off from sales this quarter. This suppressed the ASP by approximately 2.5%, which will bounce back Q2 onwards. 2. Second, we witnessed an exceptional recovery in our school shoes business, with revenue from this category growing by nearly 50% Y-O-Y. We have moved this entire business from DIP to Stuck-On, which has a much better ASP and is a margin-accretive category versus DIP. While strategically very encouraging, the inherently lower ASP of school shoes as a category diluted our blended ASP by another 2%. As these temporary effects normalize, we expect the underlying benefits of our pricing initiatives to become increasingly visible from Q2 onwards, supporting both reported ASP growth and a stronger margin profile in the quarters ahead. Beyond the financial performance, the quarter once again demonstrated the resilience of the campus brand. Growth was broad-based across channels, categories and geographies, with particularly encouraging momentum in our women and kids’ portfolio. Consumer response to our latest product launches remained highly encouraging, reaffirming our ability to anticipate evolving consumer preferences and delivering compelling value across price points. Operationally, we also took several strategic steps to strengthen the business for the future. In anticipation of a stronger festive demand, we recorded our highest ever Q1 production and continued this momentum into July, being the highest ever production month ever, proactively building inventory to ensure superior availability across key Page 2 of 17 channels and categories. This was a conscious strategic decision that positions us well for the upcoming season. The quarter also marked the launch of Elan by Campus, our entry into the rapidly growing neo-casual footwear segment, further expanding our addressable market and reinforcing our ambition of becoming a comprehensive lifestyle footwear company. Alongside this, we continued investing in product innovation, refreshed our brand identity with the unveiling of our new logo, and strengthened our partner ecosystem through one of our largest ever distributor meets, where we have received record orders giving us a very good visibility of the upcoming festive season. Looking ahead, we remain confident in the structural growth opportunity within India's branded footwear market. Supported by a strong brand, expanding distribution, continuous product innovation, enhanced manufacturing capabilities and disciplined execution, we believe Campus is very well positioned to continue delivering sustainable, profitable growth and long-term value for our stakeholders. Thank you and I would now like to hand over the call to the moderator for the Q&A session. Moderator: Thank you very much. We will now begin the question-and-answer session. First question is from the line of Vidisha Seth from Ambit Capital. Please go ahead. Vidisha Seth: Hi Nikhil. My first question was on the MRP increase of 8% undertaken in key products. This seems to be a little higher versus the industry. So, what gives the comfort that volumes or market share gain momentum will not be impacted given that key products could be in the economy segment where demand would have an element of elasticity? Uplaksh Tewary: This price increase was done on effective 1st April. Since the input RM pressure scale started coming into the business effective March itself where the entire geopolitical situation t [Showing first 8,000 characters — download PDF for full document]