Revenues for the period under review declined by 22.4% year-over-year to Rs 258.7 crore. This was due to tepid consumer sentiments coupled with challenging macro environment.

The sales volume stood at 3.9 million pairs in Q2 FY24. Campus Activewear's ASP stood at Rs 658 in Q2 FY24 vis-à-vis Rs 608 in Q2 FY23.

While EBITDA fell by 43.6% YoY to Rs 24.9 crore, EBITDA margin contract to 9.6% in Q2 FY24 from 13.3% in Q2 FY23.

Nikhil Agarwal, Campus Activewear’s CEO, said: “Campus Activewear experienced subdued performance amid reduced sales volumes during the quarter due to a difficult macro-economic environment and some channel inventory correction.

We will continue to drive our long-term business objectives & strengthen our execution strategies, in key geographies of North & Central. We will also, focus on making further inroads into the key Western and Southern states in India.

We continue to strengthen our brand positioning, engage and connect with our target audience through our innovative 360-degree marketing strategies.”

Campus Activewear is India’s largest sports and athleisure footwear brand in terms of value and volume. The brand offers multiple choices across styles, color palettes, price points and an attractive product value proposition. CAL is amongst a few established national brands enjoying approximately 17% market share in the Indian branded sports and athleisure footwear industry which is predominated by international brands.