Campus Activewear is one of India’s largest sports footwear brands in terms of value and sales. They came to the stock market last May. At that time the share price was fixed at Rs.292. The IPO listed at around 20 percent profit on the issue date. There has been tremendous growth till October 2022. The share price grew by around 70%.
But it’s been a steady decline since then. Every now and then I try to climb up, but the bears come and put me down. Sales and profits are said to be affected due to rising raw material prices. The reason is that the international economic situation is bad.
Accordingly, shares of CampusActiveer saw a new low today. TPG holds 7.62% of these shares. Another major foreign investor, Kuwait Investment Authority Fund, has a 1.27% stake. It was recently reported that they are looking to sell their shares.
In this case, stocks worth crores of rupees have been sold today through the black deal. Information about the sellers and buyers was not immediately available. But they sold at Rs 345 per share at a discount of 6.5% to the market value.
At 10 am today, Campus Company shares were trading at Rs 339, down 8 percent from the previous day’s price. Then it rises by about 1 percent and remains at the same level. The company’s stock has fallen 40% in the last 6 months.
According to the December quarter results, CampusActiveer’s sales revenue was Rs 465 crore. The cost of raw materials is Rs.200 crores. 134 crores in other expenses including salaries of employees. Depreciation Rs.19.56 crores. Net profit was Rs.48.31 crores. It was Rs 14.5 crore in the previous September quarter. The net profit for the December quarter of the previous year was Rs 23.53 crore. Compared to that, the profit is now over 100 percent higher.