Stock Report

Go Fashion (India) Limited Reports Q1 FY27 Financial Results; Registers Total Revenue of ₹231.24 Crore and Net Profit of ₹16.49 Crore

Posted On : 2026-07-31 13:05:49( TIMEZONE : IST )

Go Fashion (India) Limited (CIN: L17291TN2010PLC077303), one of the leading women's bottomwear companies in India operating under the brand 'Go Colors', has announced its unaudited financial results for the first quarter ended June 30, 2026. The company, which specializes in the development, design, sourcing, marketing, and retailing of women's bottomwear products, recorded total income of ₹231.24 crore and a profit after tax of ₹16.49 crore for the quarter.

Financial Performance Overview

For the first quarter of FY27, Go Fashion recorded revenue from operations of ₹22,283.87 lakh (₹222.8 crore), remaining largely flat compared to ₹22,282.53 lakh in Q1 FY26, but registering a sequential growth of 13.62% over ₹19,611.86 lakh in Q4 FY26.

Other income for the quarter stood at ₹840.62 lakh (up from ₹521.99 lakh in Q1 FY26 and ₹838.86 lakh in Q4 FY26), pushing total income to ₹23,124.49 lakh for Q1 FY27 against ₹22,804.52 lakh in Q1 FY26 and ₹20,450.72 lakh in Q4 FY26.

Total expenses for Q1 FY27 reached ₹20,921.00 lakh, compared to ₹19,835.83 lakh in Q1 FY26 and ₹19,410.35 lakh in Q4 FY26. Key cost components included:

Cost of materials consumed: ₹3,142.73 lakh

Purchases of stock-in-trade: ₹1,998.09 lakh

Changes in inventories of finished goods, work-in-progress, and stock-in-trade: ₹2,261.27 lakh

Subcontracting charges: ₹870.46 lakh

Employee benefit expense: ₹4,472.03 lakh

Finance costs: ₹1,269.97 lakh

Depreciation and amortisation expenses: ₹3,461.66 lakh

Other expenses: ₹3,444.79 lakh

Profit before tax (PBT) for Q1 FY27 was ₹2,203.49 lakh, compared to ₹2,968.69 lakh in Q1 FY26 and ₹1,040.37 lakh in Q4 FY26. Total tax expenses stood at ₹554.50 lakh (comprising current tax of ₹707.24 lakh and a deferred tax credit of ₹152.74 lakh).

Net profit after tax (PAT) for the quarter came in at ₹1,648.99 lakh (₹16.5 crore), against ₹2,225.99 lakh (₹22.3 crore) in Q1 FY26 and ₹794.69 lakh in Q4 FY26. Total comprehensive income for the period stood at ₹1,647.42 lakh, after accounting for a remeasurement loss on defined benefit plans of ₹1.57 lakh (net of tax).

Basic and diluted Earnings Per Share (EPS) for the quarter were both reported at ₹3.14 per share of face value ₹10 each, compared to ₹4.12 in Q1 FY26 and ₹1.48 in Q4 FY26. Paid-up equity share capital remained at ₹5,259.60 lakh.

Operational Highlights & Sales Mix

Go Fashion recorded a gross profit of ₹140.1 crore in Q1 FY27, maintaining a gross profit margin of 62.9%. EBITDA before exceptional expenses stood at ₹67.4 crore with a 30.3% margin, while reported EBITDA was ₹60.9 crore (27.4% margin).

The company's retail and operational performance was shaped by the following key highlights:

Portfolio Shift: The product mix has evolved toward a ~70% Value Added Bottoms Portfolio (Non-Leggings).

Store Optimization: The brand is shifting toward larger Exclusive Brand Outlet (EBO) stores to enhance the customer shopping experience. Following the shutdown of 66 stores during the quarter, total retail space stood at 4,26,963 sq. ft. as of June 30, 2026, compared to 4,33,979 sq. ft. as of March 31, 2026 (~7,016 sq. ft. net reduction).

Average Selling Price (ASP): ASP reached ₹863 for Q1 FY27, reflecting a growth of ~20% over the last four years.

Channel Mix: EBOs generated 72.1% of sales, Large Format Stores (LFS) contributed 22.5%, Online channels accounted for 3.6%, and Multi-Brand Outlets (MBO) & Others represented 1.8%.

Store Growth Metrics: Same Store Sales Growth (SSSG) for EBOs was 0.6%, while Same Cluster Sales Growth (SCSG) stood at 1.2% for Q1 FY27.

Pricing & Sales Quality: Full Price Sales remained strong at 94% for the quarter.

Balance Sheet Efficiency & Returns

Go Fashion maintained a tight working capital structure during the quarter:

Working Capital Cycle: Working capital days as of June 30, 2026, stood at 139 days, with inventory days at 100 days.

Cash Flow: Operating Cash Flow (pre IND-AS 116) for Q1 FY27 stood at ₹25 crore.

Return Ratios: Return on Capital Employed (RoCE) stood at 11.3%, while Return on Equity (RoE) came in at 9.5% for Q1 FY27.

Liquidity: Cash and cash equivalents stood at ₹202 crore as of June 30, 2026.

Commenting on the Result, Mr. Gautam Saraogi, CEO, Go Fashion (India) Limited said, "Q1 FY27 has been a quarter of continued execution against the strategic priorities we laid out at the start of the year. Revenue from operations stood at Rs. 223 crores, flat year-on-year, with our EBO channel growing 2% to Rs. 161 crores and LFS growing 2% to Rs. 50 crores. Our Same Store Sales Growth turned positive at +0.6%, an encouraging early signal as we work towards our stated goal of a positive full-year SSSG in FY27.

Gross margin remained healthy at 62.9%, broadly in line with last year. EBITDA margin before exceptional items stood at 30.3% versus 31.0% in Q1 FY26, largely reflecting incremental marketing investment undertaken during the quarter to strengthen brand visibility and drive customer acquisition. During the quarter, we also recognized an exceptional expense of Rs. 6.5 crores towards the write-off of capital expenditure on account of store closures, consistent with our ongoing strategy to consolidate smaller stores in overlapping catchments and migrate to larger-format EBOs.

Our shift to larger stores continues to gain momentum. These larger stores allow us to display our full range and deliver a significantly improved in-store experience, and we remain on track with our five-year ambition to nearly double our retail footprint.

We are also pleased to announce that Shraddha Kapoor has joined Go Colors as our Brand Ambassador from July'26, a step that builds on our continued efforts to enhance brand salience and connect with a wider consumer audience. We believe this partnership, together with our product and influencer-led initiatives, will help drive stronger customer engagement over the coming quarters.

Looking ahead, our priorities for FY27 remain unchanged: sustaining SSSG momentum, accelerating our transition to larger-format stores, refreshing our product range, and scaling our Daily Wear and international initiatives. We remain confident that these efforts will translate into stronger performance through the year.

The Company continues to maintain a strong competitive strength as one of the most recognized women's bottom wear brands, with a clear emphasis on quality, comfort, and fit. Our deep category expertise and brand recall position us well within the women's bottom wear segment. Given the stilllow penetration of organized players, the bottom wear category offers a meaningful long-term growth opportunity."

Shares of Go Fashion India Ltd was last trading in BSE at Rs. 341.80 as compared to the previous close of Rs. 322.65. The total number of shares traded during the day was 51895 in over 1326 trades.

The stock hit an intraday high of Rs. 353.85 and intraday low of 309.40. The net turnover during the day was Rs. 16979795.00.