Go Fashion (India) LimitedQ1 FY27 Results & Financial Update
Go Fashion (India) Limited: Q1 FY27 standalone results and company financials – revenue ₹222.84 Cr, PAT ₹16.49 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
Find an answer
Ask this result
Chart · Market context
Go Fashion (India) price & chart
Market price₹276.30
1Y return—Price return
Loading market chart…
TradingView Lightweight Charts™ · Copyright © 2025 TradingView, Inc.TradingView
Market chartPrice chart temporarily unavailableThe price chart could not be loaded right now. The reported financial results remain available above.
Spotted a factual error?Tell us the number, date or statement and we will re-check the underlying records and calculations.Report an error
Quarterly Results AnalysisExplore Go Fashion (India) Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Go Fashion (India) Limited reported operational revenue of INR 222.84 crore for Q1 FY27, remaining virtually flat compared to INR 222.83 crore in the corresponding quarter of the previous fiscal year. Total income reached INR 231.24 crore, bolstered by other income of INR 8.41 crore.
Profit after tax (PAT) stood at INR 16.49 crore for the quarter ended 30 June 2026, compared to INR 22.26 crore in Q1 FY26. Earnings per share (EPS) for the quarter was reported at INR 3.14 (basic and diluted), down from INR 4.12 in the year-ago period.
The bottom-line performance was impacted by an exceptional item of INR 6.50 crore (INR 646 lakhs), recognized as a write-off of property, plant, and equipment resulting from management's strategic decision to close and consolidate 66 smaller or overlapping stores during the quarter.
Operating margins experienced temporary compression due to the combination of network rationalization write-offs and heightened marketing investments designed to accelerate brand visibility and customer acquisition.
Exclusive Brand Outlets (EBOs) remained the primary revenue driver, posting a 2% year-on-year growth to reach INR 161 crore, while Large Format Stores (LFS) also expanded by 2% to INR 50 crore.
Same Store Sales Growth (SSSG) for EBOs turned positive at +0.6%, signaling early recovery momentum, while Same Cluster Sales Growth (SCSG) for EBOs was recorded at 1.2% for the quarter.
Full-price sales represented 94% of total sales during Q1 FY27, reflecting resilient consumer pull and minimal reliance on markdown discounting despite retail footprint optimization.
01 · Business model
What does Go Fashion (India) do?
Go Fashion (India) Limited operates as a leading specialty women's bottom-wear brand in India, retailing under the 'Go Colors' brand name. The company handles the end-to-end value chain from product design, development, and sourcing to marketing and omnichannel distribution.
The product catalog features one of the widest ranges of women's bottom-wear in the Indian apparel market, spanning churidars, leggings, harem pants, dhotis, patialas, palazzos, culottes, pants, trousers, and jeggings designed to suit various lifestyle segments including ethnic, western, fusion, athleisure, denims, plus sizes, and kids wear.
The company's primary distribution architecture relies on Exclusive Brand Outlets (EBOs), supported by Large Format Stores (LFS), multi-brand outlets (MBOs), and online digital channels. Its pricing strategy spans accessible price points from Rs. 249 to Rs. 1,599 to capture diverse consumer segments.
Go Fashion maintains an asset-light retail and scalable operational model, continually optimizing its footprint by consolidating smaller outlets into larger-format stores to improve customer engagement and range display.
02 · Historical context
What shaped the business before this quarter
Go Fashion was the early pioneer in India's organized apparel sector to launch a brand exclusively dedicated to women's bottom-wear, establishing a strong category leadership position over the years.
Over preceding fiscal years, the company successfully evolved its portfolio mix, growing its value-added bottoms (non-leggings) category to approximately 70% of total offerings.
The company's average selling price (ASP) steadily appreciated over recent years, reaching Rs. 863 in Q1 FY27, representing an approximate 20% growth over the last four years.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹222.84 Cr |
| Total income | ₹231.24 Cr |
| Profit before tax | ₹22.03 Cr |
| Profit after tax | ₹16.49 Cr |
| EPS | ₹3.14 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Exclusive Brand Outlets grew by 2% year-on-year to reach INR 161 crore, anchoring the retail revenue base.
Sales through Large Format Stores (LFS) increased by 2% year-on-year to INR 50 crore.
Channel distribution for Q1 FY27 stood at EBOs 72.1%, LFS 22.5%, Online 3.6%, and MBO & Others 1.8%.
What drove margins
Gross profit for Q1 FY27 stood at INR 140.1 crore, yielding a gross profit margin of 62.9%, which remained broadly stable compared to 63.0% in Q1 FY26.
EBITDA margin before exceptional items was 30.3% (compared to 31.0% in Q1 FY26), reflecting deliberate, incremental marketing investments made during the quarter to strengthen brand visibility.
Reported EBITDA margin declined to 27.4% and reported EBITDA to INR 60.9 crore due to the recognition of INR 6.5 crore in exceptional store-closure capital expenditure write-offs.
05 · Demand, customers & order book
Where demand is coming from
EBO Same Store Sales Growth turned positive at +0.6% for Q1 FY27, while Same Cluster Sales Growth (SCSG) stood at 1.2%.
Full-price sales accounted for 94% of total sales during the quarter, indicating strong brand pull without heavy discounting.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
In accordance with Ind AS 108, the company operates entirely within a single business segment focused on retailing women's bottom-wear.
Geography and market mix
The company operates pan-India retail stores, with total retail space decreasing slightly from 4,33,979 sq. ft. as of 31 March 2026 to 4,26,963 sq. ft. as of 30 June 2026 following the strategic closure of 66 smaller or overlapping units.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Total retail area stood at 4,26,963 square feet across EBO networks, down by 7,016 square feet following the closure of 66 smaller stores to migrate volume into larger, high-performing formats.
Projects, capex and execution
Capital expenditure during the period was directed toward transitioning away from smaller overlapping stores toward larger-format EBOs that offer superior in-store merchandising and full-range product displays.
08 · Strategy & new businesses
How the company is trying to change its growth mix
The company onboarded prominent actor Shraddha Kapoor as the brand ambassador for 'Go Colors' starting July 2026 to enhance brand salience, reach a wider consumer demographic, and drive engagement alongside influencer-led initiatives.
Management continues to focus on scaling its Daily Wear product range and advancing international initiatives as core strategic pillars for the fiscal year.
09 · Reported developments
What changed operationally
EBO Same Store Sales Growth turned positive at +0.6%, marking an encouraging recovery sign in retail demand.
Full-price sales remained robust at 94%, reflecting healthy consumer demand for the core product portfolio.
10 · Pressure points & risks
What is not going smoothly
The company shut down 66 smaller stores during the quarter, reducing aggregate retail space from 4,33,979 sq. ft. to 4,26,963 sq. ft. and triggering an exceptional asset write-off of INR 6.50 crore.
11 · Items worth noticing
The line items that can distort a quick read
The company recognized an exceptional expense of INR 6.50 crore (INR 646 lakhs) during Q1 FY27 representing the write-off of property, plant, and equipment associated with the closure of 66 smaller or overlapping retail stores.
12 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Working capital days stood at 139 days as of 30 June 2026, with inventory holding days standing at 100 days.
Cash Flow from Operations (OCF) prior to IND-AS 116 adjustments stood at INR 25 crore for Q1 FY27.
Cash and cash equivalents stood at INR 202 crore as of 30 June 2026.
Capital allocation & funding
Return on Capital Employed (RoCE) stood at 11.3% and Return on Equity (RoE) stood at 9.5% for Q1 FY27.
13 · Management guidance & targets
What management is targeting from here
Management reaffirmed its objective of achieving positive full-year SSSG in FY27, accelerating the transition to larger-format stores, refreshing product lines, and expanding Daily Wear and international initiatives.
The company remains on track with its five-year ambition to nearly double its total retail footprint.
14 · Beyond the numbers
What changed beyond the numbers
Reported update
Shraddha Kapoor Partnership
Shraddha Kapoor was signed as the official brand ambassador for Go Colors effective July 2026 to drive consumer engagement and brand visibility across digital and mainstream channels.
15 · Previous-quarter changes
What changed since the previous quarter
Revenue rose from INR 196.12 crore in Q4 FY26 to INR 222.84 crore in Q1 FY27, while PAT expanded from INR 7.95 crore to INR 16.49 crore over the same sequential period.
16 · Key Q&A
The quarter, answered directly
What does Go Fashion (India) do?
Go Fashion (India) Limited operates as a leading specialty women's bottom-wear brand in India, retailing under the 'Go Colors' brand name. The company handles the end-to-end value chain from product design, development, and sourcing to marketing and omnichannel distribution.
What is the clearest takeaway from Q1 FY27?
Go Fashion (India) Limited reported operational revenue of INR 222.84 crore for Q1 FY27, remaining virtually flat compared to INR 222.83 crore in the corresponding quarter of the previous fiscal year. Total income reached INR 231.24 crore, bolstered by other income of INR 8.41 crore.
What drove revenue or demand?
Exclusive Brand Outlets grew by 2% year-on-year to reach INR 161 crore, anchoring the retail revenue base.
What mattered most for margins or profitability?
Gross profit for Q1 FY27 stood at INR 140.1 crore, yielding a gross profit margin of 62.9%, which remained broadly stable compared to 63.0% in Q1 FY26.
What changed operationally beyond the headline numbers?
Total retail area stood at 4,26,963 square feet across EBO networks, down by 7,016 square feet following the closure of 66 smaller stores to migrate volume into larger, high-performing formats.
What is management guiding or targeting from here?
Management reaffirmed its objective of achieving positive full-year SSSG in FY27, accelerating the transition to larger-format stores, refreshing product lines, and expanding Daily Wear and international initiatives.
17 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
Build your own next-quarter scenario
Reported values are prefilled where a comparable basis is available. Otherwise, the field starts at 0. You can overwrite every field.
Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
Scenario revenue / income₹0 cr
Scenario profit after tax₹0 cr
Profit change vs base₹0 cr (0%)
Scenario margin0%
Growth needed to keep profit flat after this margin move0%
The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
18 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
SSSG Trajectory: Monitor subsequent quarters to verify if EBO Same Store Sales Growth sustains its positive (+0.6%) momentum toward full-year positive guidance.
- 02
Larger Store Rollout: Track the pace of new larger-format EBO openings and the impact of the Shraddha Kapoor brand campaign on customer acquisition and revenue acceleration.
Learn the metrics
Need the concepts first?
Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.