Campus Activewear - Healing And Awaiting A Favorable Macro Environment: HDFC Securities

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..HDFC Securities Institutional Equities.We recently interacted with Campus Activewear Ltd.’s management. Our key takeaways from the interaction:assortment continues to get more relevant and focused (now offers ~300 designs versus 500 two years back; top 60-70 designs contribute 50-60% of volumes);bigger bets are being taken on faster-moving sub-categories like sneakers and there is greater focus on open footwear to earn volumes (15% of sales);the issue of channel conflicts is behind (all channels now enjoy fair margins). .While internal operations have been streamlined (multiple territories consolidated, distribution team strengthened, product portfolio beefed up and new sales channels added); the company is now waiting for the macro to line up from a demand point of view. Management highlighted that the sports and athleisure industry growth has moderated to 8-10% versus 14-15% two years back and it is confident the margin will revert to the FY23 level if industry growth returns to FY22/23 levels. The stock is trading at 121 times FY24 price/earning/58 times Sep-26 P/E (on consensus estimates)..Click on the attachment to read the full report:.Prestige Estates - Well-Placed For Strong Future Growth, Financial Stability Across Sectors: HDFC Securities.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Campus Activewear - Healing And Awaiting A Favorable Macro Environment: HDFC Securities

Over the past few quarters, management has been streamlining its product portfolio and making it more focused and pertinent to improve SKU productivity, ergo unit economics, says the brokerage.

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Campus Activewear - Healing And Awaiting A Favorable Macro Environment: HDFC Securities

Over the past few quarters, management has been streamlining its product portfolio and making it more focused and pertinent to improve SKU productivity, ergo unit economics, says the brokerage.

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