Regulatory Filing Details

This is a disclosure made pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, containing the company's unaudited financial results for the quarter and half year ended September 30, 2026.

Key Financial Highlights (₹ Crores)

Quarterly Performance (Q2 FY27 vs Q2 FY26)

  • Total Revenue: ₹217.6 (vs ₹224.2 in Q2 FY26), a decline of 3.0% YoY.
  • Gross Profit: ₹132.2 (vs ₹140.3), with a Gross Profit Margin of 60.8% (vs 62.6%).
  • EBITDA (before exceptional expense): ₹56.0 (vs ₹68.1), with a margin of 25.8% (vs 30.4%).
  • EBITDA: ₹52.6 (vs ₹66.6), with a margin of 24.2% (vs 29.7%).
  • Profit After Tax (PAT): ₹9.0 (vs ₹21.8), a decline of 58.7% YoY.

Half-Yearly Performance (H1 FY27 vs H1 FY26)

  • Total Revenue: ₹440.4 (vs ₹447.0 in H1 FY26).
  • Gross Profit: ₹272.3 (vs ₹280.6), with a Gross Profit Margin of 61.8% (vs 62.8%).
  • EBITDA (before exceptional expense): ₹123.4 (vs ₹137.1), with a margin of 28.0% (vs 30.7%).
  • EBITDA: ₹113.6 (vs ₹135.4), with a margin of 25.8% (vs 30.3%).
  • Profit After Tax (PAT): ₹25.5 (vs ₹44.1).
  • Exceptional Expense: A one-time charge of ₹9.9 crore was recorded in H1 FY27 pertaining to the write-off of capital expenditure on account of store closures.

Key Business and Operational Updates

  • Portfolio Mix: The product portfolio has shifted to approximately 70% Value Added Bottoms (non-leggings).
  • Store Strategy: A strategic shift towards larger Exclusive Brand Outlets (EBOs) is underway to enhance customer experience.
  • Retail Space: Total retail area as of September 30, 2026, was 4,48,199 sq. ft., an increase of 14,220 sq. ft. from 4,33,979 sq. ft. on March 31, 2026.
  • Pricing: The Average Selling Price (ASP) for H1 FY27 stood at ₹827, representing a growth of approximately 20% over the last four years.
  • Sales Channel Mix (H1 FY27): EBO (71%), Large Format Stores (LFS) (23%), Online (4%), Multi-Brand Outlets & Others (2%).
  • Growth Metrics:
  • Same Store Sales Growth (SSSG) for EBOs was 0.2% for H1 FY27.
  • Same Cluster Sales Growth (SCSG) for EBOs was 0.5% for Q1 FY27 [Note: Q2 figure not provided].
  • Pricing Strategy: Full Price Sales constituted 93% of sales in H1 FY27.

Financial Position and Ratios (as on September 30, 2026)

  • Working Capital Days: 134 days.
  • Inventory Days: 94 days (improved from 100 days at the end of Q1 FY27).
  • Cash Flow from Operations (Pre IND-AS 116): ₹52.6 crores for H1 FY27.
  • Return Ratios: Return on Capital Employed (RoCE) stood at 9.5%; Return on Equity (RoE) stood at 7.2%.
  • Liquidity: Cash and Cash Equivalents stood at ₹211.4 crores.

Management Commentary (Gautam Saraogi, CEO)

Management attributed the Q2 revenue decline to a later festive calendar, which shifted bulk dispatches to LFS partners into October (Q3). The EBO channel continued to grow despite this shift. The decline in Gross Margin was attributed to higher raw material prices (fabric costs) due to the geopolitical situation. The company intends to pass on this inflation through calibrated pricing actions to restore margins progressively.

The strategy of transitioning to larger-format EBOs is reinforced as these stores are outperforming smaller ones. In Q2, the company opened 9 stores and closed 23, but net retail area increased due to the larger size of new and enlarged stores. The brand campaign featuring Shraddha Kapoor was noted to be generating good traction.

Priorities for FY27 remain sustaining SSSG, accelerating the transition to larger stores, refreshing the product range, and scaling Daily Wear and international initiatives.

Company Background

Go Fashion (India) Limited operates under the brand 'Go Colors' and is a leading women's bottom-wear brand in India with an estimated 8% market share in the branded segment. It offers a wide range of products including churidars, leggings, palazzos, pants, and jeggings, with prices ranging from ₹249 to ₹1,599.