Go Fashion (India) LimitedQuarter Ended September 30, 2026 Results & Financial Update
Go Fashion (India) Limited: Quarter Ended September 30, 2026 standalone results and company financials – revenue ₹217.59 Cr, PAT ₹8.97 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 glanceReported figures and period changes.Changes compare like-for-like reported periods where available.
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Quarterly Results AnalysisExplore Go Fashion (India) Quarter Ended September 30, 2026 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 reported revenue from operations of INR 217.59 crore for the quarter ended September 30, 2026, representing a slight contraction compared to INR 224.17 crore in the corresponding period of the previous year and INR 222.84 crore in the preceding quarter.
Management attributed the top-line moderation to a later festive calendar in the fiscal year. Key festivals shifting into October caused bulk dispatches to Large Format Store (LFS) partners, which typically precede the festive season, to move out of September into Q3.
Profit after tax (PAT) for the quarter stood at INR 8.97 crore, compared to INR 21.80 crore in the same quarter last year and INR 16.49 crore in the June 2026 quarter. Profitability felt pressure from both top-line timing shifts and rising input pressures.
Gross margins moderated to 60.8% during the quarter compared to 62.6% in Q2 FY26. Company disclosures note that fabric and raw material costs escalated due to ongoing geopolitical conditions impacting global supply chains.
To counteract margin compression, management outlined plans to implement calibrated pricing actions aimed at passing on raw material inflation progressively over forthcoming quarters.
The network transition toward larger-format stores continued. Although 9 stores were opened and 23 closed during the quarter as part of network optimization, total retail floor space expanded to 4,48,199 square feet as of September 30, 2026.
Working capital discipline improved further, with inventory days declining to 94 days at the close of September 2026 from 100 days at the end of the previous quarter.
01 · Business model
What does Go Fashion (India) do?
Go Fashion (India) Limited operates the 'Go Colors' brand, holding an estimated 8% market share in the branded women's bottom-wear segment in India. The company is engaged in design, sourcing, marketing, and retailing an extensive range of women's bottom-wear products across multiple categories.
The product portfolio encompasses churidars, leggings, dhotis, harem pants, patiala, palazzos, culottes, pants, trousers, and jeggings, servicing diverse styling requirements across ethnic wear, western wear, fusion wear, athleisure, denims, plus sizes, and girls wear.
Retail distribution relies heavily on Exclusive Brand Outlets (EBOs), Large Format Stores (LFS), online channels, and Multi-Brand Outlets (MBOs). The company has prioritized expanding its retail footprint into larger-format stores to enhance product display and customer experience.
Go Fashion targets broad price accessibility with retail price points generally ranging from Rs. 249 to Rs. 1,599, catering to various consumer segments across urban and semi-urban markets.
02 · Historical context
What shaped the business before this quarter
Go Fashion was among the early domestic apparel players to launch a brand exclusively dedicated to the women's bottom-wear category, building specialized category expertise over years of operations.
Over the years, the company transitioned its product mix so that value-added bottoms (non-leggings) now comprise approximately 70% of its overall portfolio.
03 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Quarter Ended September 30, 2026 | Year-ago | Previous quarter |
|---|---|---|---|
| Revenue from operations | ₹217.59 Cr | ₹224.17 Cr | ₹222.84 Cr |
| Total income | ₹224.02 Cr | ₹231.47 Cr | ₹231.24 Cr |
| Profit before tax | ₹12.13 Cr | ₹29.00 Cr | ₹22.03 Cr |
| Profit after tax | ₹8.97 Cr | ₹21.80 Cr | ₹16.49 Cr |
| EPS | ₹1.70 | ₹4.04 | ₹3.14 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue from operations contracted by 2.93% YoY to INR 217.59 crore because key festivals shifted later into Q3, delaying bulk LFS dispatches from September into October.
The Exclusive Brand Outlet (EBO) channel maintained positive growth momentum despite the shifting festive timing, helping offset temporary wholesale dispatches timing.
Average selling price for H1 FY27 reached Rs. 827, reflecting a growth of approximately 20% over a four-year period.
What drove margins
Gross profit margin for Q2 FY27 eased to 60.8% from 62.6% in Q2 FY26, driven by higher fabric costs resulting from geopolitical supply disruptions.
Other expenses for the six months ended September 30, 2026, include an exceptional write-off of property, plant, and equipment amounting to INR 9.88 crore (INR 9.9 crore reported in investor releases) on account of store closures undertaken to optimize the retail network.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company operates predominantly in retailing women's bottom-wear, which constitutes a single reportable business segment under Ind AS 108.
06 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Total retail area reached 4,48,199 square feet as of September 30, 2026, compared to 4,33,979 square feet as of March 31, 2026, representing an addition of 14,220 square feet during H1 FY27.
07 · Strategy & new businesses
How the company is trying to change its growth mix
The company executed a brand campaign featuring actress Shraddha Kapoor, complemented by product refreshes and influencer-led initiatives to drive customer acquisition across retail and digital platforms.
08 · Reported developments
What changed operationally
Exclusive Brand Outlets continued to grow and larger-format stores outperformed smaller locations, validating management's store consolidation strategy.
Inventory holding days improved to 94 days, supported by healthy cash generation from operations.
09 · Pressure points & risks
What is not going smoothly
Quarterly operating revenue declined by 2.93% YoY to INR 217.59 crore due to delayed festive dispatches.
Profit after tax dropped significantly to INR 8.97 crore, impacted by lower revenues, rising raw material costs, and store optimization write-offs.
10 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Inventory days improved to 94 days as of September 30, 2026, down from 100 days at the end of the preceding quarter.
Cash flow from operations (pre-Ind AS 116) for H1 FY27 stood at INR 52.6 crores.
11 · Beyond the numbers
What changed beyond the numbers
Reported update
Sales Mix Breakdown
For H1 FY27, sales mix across distribution channels was: EBO at 71%, LFS at 23%, Online at 4%, and MBO & Others at 2%.
Reported update
Full Price Sales Share
Full-price sales accounted for 93% of total sales during H1 FY27.
12 · Previous-quarter changes
What changed since the previous quarter
Revenue from operations decreased from INR 222.84 crore in Q1 FY27 to INR 217.59 crore in Q2 FY27, while PAT declined from INR 16.49 crore to INR 8.97 crore.
13 · Key Q&A
The quarter, answered directly
What does Go Fashion (India) do?
Go Fashion (India) Limited operates the 'Go Colors' brand, holding an estimated 8% market share in the branded women's bottom-wear segment in India. The company is engaged in design, sourcing, marketing, and retailing an extensive range of women's bottom-wear products across multiple categories.
What is the clearest takeaway from Quarter Ended September 30, 2026?
Go Fashion reported revenue from operations of INR 217.59 crore for the quarter ended September 30, 2026, representing a slight contraction compared to INR 224.17 crore in the corresponding period of the previous year and INR 222.84 crore in the preceding quarter.
What drove revenue or demand?
Revenue from operations contracted by 2.93% YoY to INR 217.59 crore because key festivals shifted later into Q3, delaying bulk LFS dispatches from September into October.
What mattered most for margins or profitability?
Gross profit margin for Q2 FY27 eased to 60.8% from 62.6% in Q2 FY26, driven by higher fabric costs resulting from geopolitical supply disruptions.
What changed operationally beyond the headline numbers?
Total retail area reached 4,48,199 square feet as of September 30, 2026, compared to 4,33,979 square feet as of March 31, 2026, representing an addition of 14,220 square feet during H1 FY27.
What are the main pressure points disclosed for the quarter?
Quarterly operating revenue declined by 2.93% YoY to INR 217.59 crore due to delayed festive dispatches.
14 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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15 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Execution and financial impact of calibrated pricing actions to offset raw material inflation in subsequent quarters.
- 02
Post-festive sales realization and pickup in wholesale dispatches following the shift of key festivals into Q3 FY27.
- 03
Progress on larger-format EBO expansion and the operational performance of optimized store locations.
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