BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal's IPO Report
Campus Activewear Ltd. with leading market share in India’s branded sports and athleisure footwear, is well placed to capture the highly underpenetrated and fast growing footwear segment in India.
On nine months-FY22 annualised enterprise /sales basis Campus is d at 8.1 times and seems reasonable compared to ~10 times for both Bata India Ltd. and Relaxo Footwears Ltd.
Given Campus’ presence in niche sports and athleisure segment with pan-India omni-channel presence, along with strong financials, we are positive on the stock.
Risk and concerns -
India’s sports and athleisure footwear industry is highly competitive with presence of many global players.
any subsequent Covid-19 wave could once again impact the demand North India contributes 51% to the revenue. Campus plans to increase its presence in West and South; failure of which could have an impact on financials in case of demand slowdown.
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