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2 CAMPUS CAMPUS ACTIVEWEAR LIMITED INVESTOR PRESENTATION Q1 - FY 27 | 06 AUG 2026 باخ 26
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2 TABLE OF CONTENTSoBusiness SnapshotoBusiness HighlightsoBusiness Performance – Q1 FY’27oGrowth VectorsoIndustry Landscape
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3 DisclaimerIMPORTANT: 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 the oral presentation (collectively, the “Information”). In accessing the Information, you agree to be bound by the following terms and conditions.The Information is confidential and may not be reproduced, redistributed, published or passed on to any other person, directly or indirectly, in whole or in part, for any purpose. This document may not be removed from the premises. If this document has been received in error, it must be returned immediately to the Company. 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Our Journey to Become India’s #1 S&A Footwear Brand 4Source: Company data(1) Revenue crossed by Nikhil International, whose business was subsequently acquired pursuant to a business succession agreement dated Mar 22, 20172006 2018 20202021EBO store count crosses 100INR 5,000 mm Revenue milestone reachedInception of the “Campus” BrandBackward integration initiative -Sole Manufacturing facility at GanaurFY06FY12FY18FY20FY21FY22FY23FY24FY25FY26FY27INR 1,000 mm Revenue Milestone reached (1)& On-boarded asinvestorsRevenue contribution from D2C channel crosses 37%IPO – Campus Activewear IPO oversubscribed 51.75 timesEBO store count crosses 250Backward integration initiative –Upper Manufacturing facility at HaridwarSuccessful launch of INR 3,000+ MRP shoesRevenue contribution from D2C channel crosses 44% in FY24INR 7,000 mm revenue milestone reached (FY21)INR 1,000 mm revenue milestone reached in D2C segmentImplentation of SAPGanaurCapacity ExpansionHaridwar II Upper Plant for SneakerProduction commenced at Ponta upper facility Production commenced at Pant Nagar upper facility Apparels segment addedELAN Category Added
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5 BUSINESS SNAPSHOT
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CAMPUS - India’s Largest & Fastest Growing Scaled Sports & Athleisure Footwear Brand 6 46.1%5.7 mm31,000+22.8%Revenue from Operations*Q1 FY27: INR 385.2 Cr (+12.2% YoY Gr%)Q1 FY26: INR 343.3 CrFY26 : INR 1774.1 Cr (+11.4 YoY Gr%)EBITDAQ1 FY27: INR 62.7 Cr (15.9% of Total Income)Q1 FY26: INR 55.4 Cr (15.9% of Total Income)FY26 : INR 314.7 Cr (17.5% of Total Income)Profit After TaxQ1 FY27: INR 26.1 Cr (6.6% of Total Income)Q1 FY26: INR 22.2 Cr (6.4% of Total Income)FY26: INR 150.1Cr (8.4% of Total Income)5.7 mm pairs sold in Q1 FY27 (11.7% YoY Gr%)5.1 mm pairs sold in Q1 FY2631,000+ Retailers across 850+ districts and 28states22. 8% Return on Capital Employed46.1% Revenue Contribution from Direct-to-Consumer Channels during Q1 FY27 vs 44.4% during Q1 FY26 *Revenue from Operations comprises of Sale of Goods along with other operating revenue
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Product – Placement – Promotion Interplay Generating Business MOATInternal Strengths Curated Over the Years Across Product Design, Supply Chain, Distribution and Marketing is Onerous to Replicate 7Strong Brand Recognition and Innovative Marketing Revenue Mix (Apr-Jun’26) Sustained focus on Product Innovation and Design Integrated Manufacturing Ecosystem #1 S&A Footwear Brand in India650+100+New Designs LaunchedDuring Q1 FY27 60-90 daysManufacturing lead-time (vs industry avg: 90-120 days)(1)Exclusive ancillary supplier network -Empanelled FabricatorsSole Vendors 31.1 mmAnnual assembly capacity Highly experienced in-house design team of 35+ designers based out of IndiaGlobal design consultancy network and design sourcing tie-upsAdvertising & sales promotion spend during Q1 FY27Building Fashion AuthorityINR 30.5 Cr(2)Source: Company data. All metrics as of Jun 30, 2026.Note: EBO – Exclusive Brand Outlets ; LFS- Large Format Stores(1) Source: Technopak Report(2) Largest in terms of value and volume in FY21(3) 1800+pairs sold per style 650+ Active StylesDuring Q1 FY27(3)Channel WiseRegion Wise Launch of Elan category with Jim Sarbh
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Experienced Management & Professional Board at the Helm of Affairs 8Source: Company data Board of DirectorsKey ManagementMr. Nikhil AggarwalCEO & Whole-Time DirectorOne of the Promoters of the CompanyFootwear industry~14 Mr. H.K. AgarwalChairman & Managing DirectorOne of the Promoters of the CompanyFootwear industry37+ Uplaksh TewaryChief Operating Officer.AdidasPuma SportsReebokTitan IndustriesLifestyle and sportswear~16 Rajneesh SharmaChief Technology OfficerDLF BrandsITC LimitedIT sector ~25 Years of ExperiencePast associationsPrerna AggarwalChief Innovation OfficerHolds diploma in digital video production and has also passed Intermediate Exam held by Institute of Chartered Accountants of India Mr. Nikhil AggarwalCEO & Whole Time Director Mr. H.K. AgarwalChairman & Managing Director Mr. Anil ChananaIndependent Director Mr. Jai Kumar GargIndependent Director Ex-CFO of HCL TechnologiesEx-Executive Director at UCO BankEx-MD and CEO of Corporation BankMr. Nitin SavaraIndependent Director Ms. Madhumita GanguliIndependent Director Member of Executive Management at HDFC LimitedEx-Partner at Ernst & YoungMurlidhar MishraHead-ProductionAlpine ShoesSSIPLBATA IndiaManufacturing sector ~25 Gaurav SharmaChief Marketing Officer BATA IndiaSC JohnsonPerfetti Van MelleHershey’sRetail & FMCG~14 Alka MongaHead HRReliance BrandsGenesis LuxuryThe Spa GroupPeople & Culture ~18 Archana MainiGeneral Counsel & Company Secretary ~19 Usha internationalVLCC
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Innovation, partnerships, exclusives enabling differentiated offerings, latest designscustomised for the Indian marketAnnual assembly capacity of 30.7 mm pairs enabled through blend of in-house manufacturing and outsourcing with commitment toproduct qualityPan-India omni-channel distribution to meet our customers where they are Move from stand-alone trade led marketing to consumer-oriented marketing enabling consumers to discover our brand & product offerings and increase brand acceptanceAdvanced technology solutions across functions enabling digitization of our sales process and agile product flowSuperior Product Innovation and Design CapabilitiesVertically Integrated Manufacturing EcosystemOmni-Channel Customer ExperienceInnovative Marketing CapabilitiesDigitization of Sales Process12345Source: Company data Key Pillars of Business MOAT 9
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10 BUSINESS HIGHLIGHT
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11 Product DesignManufacturing EcosystemDistributionMarketingDigitizationDeliver New and Differentiated Offerings for the Indian Market through Nimble, Fashion Forward and Segmented Approach to Curate our Product LinesHighly experienced in-houseteam of 35+ designersGlobal Design Consultancy Networkand Design Sourcing Tie-upsIdentify emerging international fashion trends and customize it for local market Flagship CollectionSpring – Summer Collection (Feb / Mar) & Autumn –Winter Collection (Aug / Sept)Design Fast trackQuick Design, Development and Production outside the normal go-to-market process. In-season ReplenishmentAllows capturing any demand upside & cater with certain high velocity stylesNever out of StockCore replenishment of products ensures evergreen models are always in stock & continuously replenished Product Launches100+ new designs launched during Q1 FY’27Design InnovationMultiple different features like shock absorption and reflect technology launched across price categoriesSource: Company data Superior Product Innovation and Design Capabilities1Our category range has been expanded to “Apparel Segment”. Our category range has been expanded to “Elan Category”.
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Vertically Integrated Manufacturing Ecosystem 12Strategic Blend of In-house Capacity and Backward Integration Enabling Flexibility in Design, Quality Control, Cost Controls and Timing to MarketSource: Company data(1) Capacity as of Jun 30, 2026In-house Manufacturing Outsourced CapacityIn-house Facilities Annual Assembly Capacity of 31.1 mmpairs (1) 37.2%62.8% In-house Outsourced90% domestic raw material sourcing Sole ancillary supplier network in IndiaAbility to manufacture sole in-house leading to faster turn-around and IP protectionManufacturing lead-times of 60-90 days (vs industry average of 90-120)Final assembly managed 100% in-house toensure adherence to manage cost, time to market and qualityHaridwar IHaridwar IIPontaPant NagarGanaurCAL Baddi IDehradun CAL – Baddi II Exclusive ancillary network 49.6%50.4% In-house Outsourced 100% In-houseUppersShoe SoleAssembly of Shoes Product DesignManufacturing EcosystemDistributionMarketingDigitization2
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Omni ChannelPlatform to Reach Customers Where They AreD2C OfflineTrade DistributionD2C Online13 Pan-India Distribution Presence (31,000+ Retail Touchpoints in more than 850+ districts and we are penetrating in rural markets through super stockist)Dominant Online Presence: Leading Footwear Brand on Flipkart, Myntra and NykaaDeveloping Offline D2C Presence through Large Format Stores & growing EBO NetworkSource: Company data(1) Excluding other operating incomeExclusive and Multi-format D2C NetworkDiverse presence across formats - Exclusive Brand Outlets and Modern Trade formatsPan India Distribution PresenceAll-Inclusive Use of E-commerce Channels Established Pan-India sales network with expansive reach, deep engagement and efficient financingUse of entire digital ecosystem across Pure-Play Marketplace, Managed Marketplace, Online to Offline marketplaces 31,000+ Retail Touchpoints260+ Distributors28 States850+Districts 1.5 mm+SKUs / pairs sold through online channels during Q1FY27Leading Footwear Brand on 2,350+LFS Counters305+EBOs 200+Employee Internal Sales ForceProduct DesignManufacturing EcosystemDistributionMarketingDigitization3 Q1FY26 Q4FY26 FY26 Q1FY27Trade Distribution 55.6% 51.7% 52.1% 53.9%D2C Online31.9% 37.8% 36.8% 32.9%D2C Offline 12.5% 10.5% 11.0% 13.2%Channel
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Product DesignManufacturing EcosystemDistributionMarketingDigitizationShoe case 2026Unveiling a New Chapter of MovementBrand Transformation•Unveiling Campus' refreshed brandidentity.•Aligning partners with the nextphase of growth.Innovation & Product Showcase•Launch ofELANneo-casualfootwear.•Preview of future-readyinnovations and collections.•Showcase of the latest Campusrange.Celebrating Partnerships•Bringing together distributorpartners nationwide.•Celebrating enduring partnershipsand shared success.•Gala evening to mark achievementsand future growth.
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Product DesignManufacturing EcosystemDistributionMarketingDigitizationBuild a New CategoryIntroducing India to Neo-Casual Footwear - Elan by Campus •11.7 million+ views: Across Instagram and digital platforms within the first month.•Fashion-first digital presence•18 high-quality content pieces driving 127K+ interactionsand establishing ELAN's premium visual identity.•Omnichannel Launch: Rolled out across digital, social, retail, Amazon and Myntra, supported by the Amazon Made in Indiaseries. •More than footwear Elan by campus redefines modern neo-casual style•Brand promise: Effortless elegance for every occasion•Building aspirational appeal: JIM SARBH AS THE FACE OF ELAN the "most elegant man in town"Campaign Activation
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Our Data Centric Approach allows us to understand Consumer Demand Trends, Design & Colour Preferences, Response to New Designs & Price Movements across Categories on an ongoing basisDigitization of Sales process has Enabled Faster Speed to Market, Better Merchandising, and Greater Efficiency in Design, Manufacturing and Sale Product DesignManufacturing EcosystemDistributionMarketingDigitizationEfficient working capital managementFaster customer signalsImproved feedback and demand forecastingEnhanced product and process planningOptimizedmanufacturing cycle daysReduced time to marketInvestment in D2C & Tech initiatives Digitization of Sales Process has Generated a Virtuous Flywheel enabling Faster Speed to Market5 16
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17 BUSINESS PERFORMANCE
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Q1 FY27– Financial & Business Highlights 18FINANCIAL HIGHLIGHTSQ1FY27 vs Q1FY26 (YoY)Sales volume at57.1 lacspairs vs51.1 lacspairs in Q1 FY26, +11.7% YoYASP atINR 674vsINR 671 per pairin Q1FY26, +0.4% YoYRevenue from operations up by12.2 %YoY toINR 385.2 Crduring the quarter vs INR 343.3 Cr in Q1FY26EBITDA atINR 62.7 CrvsINR 55.4 Crin Q1 FY26.PAT atINR 26.1 CrvsINR 22.2 Crin Q1 FY26. PAT margin stood at6.6%vs 6.4% in Q1 FY26.*Revenue comprises of Sale of Goods along with other operating revenue In INR Cr. Parameters (INR Cr.)Q1 FY27 Q1 FY26YOY Growth %Revenue* 385.2 343.3 12.2%EBITDA 62.7 55.4 13.2%PAT 26.1 22.2 17.7%
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Statement of Profit & Loss 19*Revenue from Operations comprises of Sale of Goods along with other operating revenue.**Total income includes income from bank deposit, gain on sales of FA and others***Other Expenses includes Direct expense, Other SGA and Online commission Particulars (INR Cr) Q1-FY27 Q4-FY26 Q1-FY26 Gr% vs LYRevenue from OperaƟons *385.2 455.6 343.3 12.2%Total Income ** 393.2 461.7 349.4 12.5%219.8 240.5 193.6 13.5%55.9% 52.1% 55.4% 0.9%Employee Cost 37.1 37.0 32.2 15.4%Advertisement & Sales Promotion 30.5 28.8 27.9 9.4%Other Expenses *** 89.5 86.2 78.2 14.5%Total Expenses 157.1 152.0 138.2 13.7%62.7 88.5 55.4 13.2%15.9% 19.2% 15.9% 0.6%35.3 58.8 30.4 16.2%9.0% 12.7% 8.7% 3.2%26.1 44.1 22.2 17.8%6.6% 9.6% 6.4%EBITDAPBTPATGross Margin
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Q1 FY27 & TTM 3MFY27 – Financial Highlights 20 339 343 387 589 456 385 Q1FY25Q1FY26Q2FY26Q3FY26Q4FY26Q1FY275.8 5.1 5.8 8.3 6.8 5.7Q1FY25Q1FY26Q2FY26Q3FY26Q4FY26Q1FY27585 671 672 711 668 674 Q1FY25Q1FY26Q2FY26Q3FY26Q4FY26Q1FY27Revenue from Operations (1)(INR Cr) Volume Sold (# mm) Average Selling Price (INR / Pair)711119414841448159317741816FY21 FY22 FY23 FY24 FY25 FY26 TTM3MFY2713.0 19.3 23.5 22.2 24.9 26.0 26.6 FY21 FY22 FY23 FY24 FY25 FY26 TTM3MFY27547 620 631 652 639 683 684 FY21 FY22 FY23 FY24 FY25 FY26 TTM3MFY27Revenue from Operations (1)(INR Cr) Volume Sold (# mm) Average Selling Price (INR / Pair)QuarterlyAnnual1) Revenue from Operations comprises of Sale of Goods along with other operating revenue
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Q1 FY27 & TTM 3MFY27 Revenue: Segmental Analysis 21711 1,194 1,484 1,448 1,593 1,774 1,816 FY21 FY22 FY23 FY24 FY25 FY26 TTM3MFY27Annual Campus Activewear Limited (1)Trade Distribution Channel 535743813768833917933FY21 FY22 FY23 FY24 FY25 FY26 TTM 3MFY27175 444 657 668 747 842 866 FY21 FY22 FY23 FY24 FY25 FY26 TTM3MFY27Direct to Consumer Channel Source: Company data(1) Revenue from Operations: Sale of Goods (Totaling to Channel-wise sales) + Other Operating Income
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Q1 FY27 & TTM 3MFY27– Financial Highlights 22 Revenue from Operations (1)(INR Cr)EBITDA(2)&(4)(INR Cr)Profit After Tax (3)&(4)(INR Cr)Revenue from Operations (1)(INR Cr)EBITDA (2) &(4) (INR Cr) Profit After Tax (3) &(4)(INR Cr) QuarterlyAnnual711 1,194 1,484 1,448 1,593 1,774 1,816 FY21 FY22 FY23 FY24 FY25 FY26 TTM3MFY27119 244 256 215 258315 322 FY21 FY22 FY23 FY24 FY25 FY26 TTM3MFY2751 109 117 89 121150 154 FY21 FY22 FY23 FY24 FY25 FY26 TTM3MFY276.2%7.2%PAT Margin (%)9.1%7.9%14.8%16.8%EBITDA Margin (%)20.5%17.3%16.1%7.5%339 343 387 589 456 385 Q1FY25Q1FY26Q2FY26Q3FY26Q4FY26Q1FY2725 22 20 64 44 26 Q1FY25Q1FY26Q2FY26Q3FY26Q4FY26Q1FY27PAT Margin (%)7.4% 1) Revenue from Operations includes Sale of Goods & other operating revenue2) EBITDA is calculated as follows : Profit after Tax + Tax expense + Finance Costs + Depreciation and Amortization Expense3) Increase in one-time deferred tax charge by INR 247.17 mm for FY21 due to amendment of Finance Act, 2021, where goodwill was considered as a non-tax-deductible asset resulting in derecognition of DTA on goodwill4) Pursuant to NCLT merger order, EBITDA and PAT for FY’21, FY22, Q1 FY’23 has been revised to give effect to the order. 15.8%EBITDA Margin (%)54 5555 116 89 63 Q1FY25Q1FY26Q2FY26Q3FY26Q4FY26Q1FY2715.9%6.4%17.5%8.4%19. 5%5.2%14.0%10.8%19.2%9.6%15.9%6.6%17.5%8.4%
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Q1 FY27 & TTM 3MFY27 - Working Capital Trends 23Source: Company data(1) Working Capital Includes = Avg Receivables + Avg Inventories – Avg Payables . Working Capital Days = (Receivables + Inventories – Payables)/ Total Revenue *365. Other Current Assets & Liabilities have not been considered(2) Day Sales Outstanding (DSO) = Average trade receivables/ Trailing 12 months sales x 365, Days Inventory Outstanding (DIO) = Average inventories/ Trailing 12 months sales x 365, Days Payables Outstanding (DPO) = Average trade payables/ Trailing 12 months purchases x 365 Days Sale Outstanding(2)Days Payable Outstanding(2)Net Receivables/Rs Cr.Days Inventory Outstanding(2)Working Capital (1) Annual83 65 87 92 71 70 78 FY21 FY22 FY23 FY24 FY25 FY26 TTM3MFY2796 86 100 107 89 85 100 FY21 FY22 FY23 FY24 FY25 FY26 TTM3MFY27Net Payables/Rs Cr.131 89 88 116 102 90 93 FY21 FY22 FY23 FY24 FY25 FY26 TTM3MFY27146.0183.3205.5207.3213.0225.6249.3186.2278.4401.6422.6388.0Net Inventory/Rs Cr.161.0211.0351.3362.8308.1Net Working Capital/Rs Cr.62 36 39 37 31 31 27 FY21 FY22 FY23 FY24 FY25 FY26 TTM3MFY27121.3115.9155.2147.5133.1150.4136.4414.6339.2 Annual499.8386.9
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Q1 FY27 & TTM 3MFY27 - Return Ratios 24Source: Company data(1) Includes : Borrowings less Cash & Cash equivalent, excludes fixed deposits with banks(2) ROE – TTM PAT by Average Shareholder’s Equity, (3) ROCE – EBIT divided by Capital Employed Net Debt(1)Net Debt(1)/ EBITDAINR CrReturn on Equity (2)(%)Return on Capital Employed (3)(%) Annual1.1 0.7 0.6 0.0 0.00.1 0.0FY21 FY22 FY23 FY24 FY25 FY26 TTM3MFY279.0%29.3%23.9%14.9%17.2%18.1%18.0%FY21 FY22 FY23 FY24 FY25 FY26 TTM3MFY27173.9 156.8 2.8 0.032.3 8.3 FY22 FY23 FY24 FY25 FY26 TTM3MFY2718.5%30.6%23.2%19.2%22.3%22.4%22.8%FY21 FY22 FY23 FY24 FY25 FY26 TTM3MFY27 Annual
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25 GROWTH VECTORS
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Prime Growth Vectors Going Forward TextSustained Focus on Premiumization Across Product SegmentsProduct Diversification via Extension into Allied CategoriesTextFurther Accentuate our Omni-channel ExperienceSteadily Extend into New Territories By Deepening our Presence in Western and Southern Regions of IndiaLeverage our Brand and Leadership Position with Enhanced Focus on Women, Children & Kids 26
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Within Indian Retail Industry, Footwear is Expected to be One of the Fastest Growing SegmentIndia S&A Footwear Market has Attractive Industry Prospects21.6%22.2%20.9%20.3%15.9%10.7%5.6%FootwearApparel &AccessoriesJewellery &WatchesHome &LivingConsumerElectronicsPharmacy&…Food &GroceryOverall retail segment growth: 9.5%Overall retail segment growth: 9.5%Indian S&A and Casual Footwear Market Size is Projected to Reach INR 882bn (US$11.7bn) by FY25P Footwear is Expected to be among the fastest Growing segments within the Retail Industry Key Drivers of the Indian S&A Footwear MarketGrowing proclivity towards sports and physical activitiesAbility of home-gown brands to address the underserved demandIncreased share of branded category(INR bn)15%21%12%48%54%60%19%5611090220327479324662629046116284319534747204801,050FY2015 FY2020 FY2021 FY2025PS&ACasualFormalOutdoorShare of S&A in Total Footwear MarketCAGRShare of Branded Products in S&A Footwear56%Total Addressable Market (FY25P)Indian Casual FootwearINR 662bn(US$8.8bn)Indian S&A FootwearINR 220bn (US$2.9bn)Indian Footwear Market Size 27
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28 05 INDUSRY LANSCAPE& POSITIONING
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India’s Per Capita Footwear Consumption is Much Lower Compared to the likes of USA, UK, Japan, Germany, Brazil & ChinaIndian S&A market to be Driven by Rise in Disposable Income and Increasing Health - Conscious IndividualsS&A Footwear in India is Highly Underpenetrated Structural Growth Drivers in Place – Increase in Fitness Consciousness and Disposable IncomePer Capita Annual Expenditure on S&A FootwearShare of S&A in Footwear RetailAnnual Footwear Consumption15%52%32%1.194.813.91.97.22.9(pairs per capita) (in US$)Global: 13.3 Global: 31% Rising GDP per capita1422432020 2025(INR’000)1081422020 2025(# in mn)Increasing Fitness ConsciousnessIndia's GDP Per Capita (Current Prices)India – No of Health-Conscious Individuals (HCI)Global: 3.229
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Expansive and Diverse Product Portfolio across the Price Spectrum with LargestMarket Coverage Focused on 85%+ of the S&A Footwear MarketWidest Presence Across Price SegmentsLargest Market Coverage Addressing 85%+ of the S&A Footwear Market 30Source: Technopak Industry ReportNote: Percentage mentioned on left of pyramid represent composition of S&A footwear market across Entry, Semi-Premium, Premium and Premium Plus segmentsKey brands highlighted across segments for illustration purposes only.* Revenue Contribution by Price Point excludes sale of retail accessories. AdidasPumaPumaReebokLibertyLibertyBataLibertyBataRelaxoNikeINR 90bnEntry(<INR 1,001)Semi-Premium (INR 1,001 – 1,500)Premium(INR 1,501 –3,000)Premium-Plus (Above INR 3,000)S&A Footwear Market (FY21)Entry to Premium segment comprise 85%+ of S&A Footwear Market13%24%16%48% Revenue Contribution for CAMPUS*Q1 FY26 Q1 FY27Priced above INR 1,50052.7%53.8%Priced INR 1,050 to 1,49928.0%24.6%Priced below INR 1,05019.3%21.6%
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31 THANK YOU