Go Fashion (India) Limited (GOCOLORS) AI Stock Analysis

• Market Cap: ₹20.92B
• Dividend Yield: N/A
• Average Volume (3M): 27.52K
• Price to Earnings (P/E): 29.4
• Beta (1Y): 1.33
• Revenue Growth: 6.65%
• EPS Growth: 2.96%
• Country: IN
• Employees: 5,000
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Apparel - Manufacturers
• EPS (TTM): 1.30
• Shares Outstanding: 54,008,984
• 10 Day Avg. Volume: 58,730
• 30 Day Avg. Volume: 27,519
• PEG Ratio: 3.10
• Price to Book (P/B): 5.39
• Price to Sales (P/S): 4.44
• P/FCF Ratio: 23.71
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 65 Neutral
• Price Target: ₹437.00 ▼(-1.71% Downside)

The score is primarily supported by strong underlying financial performance (growth, improving profitability, and healthy cash conversion). This is partially offset by weak technicals showing a pronounced downtrend and negative momentum, while valuation is only moderately supportive given the ~24.9 P/E and no dividend yield.

Positive Factors

Revenue & margin trends

Consistent revenue expansion alongside rising gross and net margins and favorable EBIT/EBITDA trends indicate durable operating leverage. Sustained margin improvement supports reinvestment, better cash conversion and resilience to input cost swings, strengthening long-term profitability.

Cash generation

Operating cash flow consistently above net income and growing free cash flow show the business converts profits into cash effectively. This underpins capacity for capex, franchise expansion, debt servicing and shareholder returns, reducing reliance on external financing over the medium term.

Focused brand & omni-channel reach

A focused product category (women’s bottom-wear) with broad style assortment and an omni-channel distribution mix (company and franchise EBOs, large retailers, MBOs, online) drives repeat purchases, geographic reach and channel diversification, supporting durable market position and brand-led demand.

Negative Factors

Moderate reliance on liabilities

A balance sheet showing moderate dependence on liabilities and leverage constrains financial flexibility. In an economic downturn or growth push, higher liabilities can increase interest costs and limit room for opportunistic investment or aggressive franchise expansion without raising funding costs.

EPS growth lagging revenue

Revenue is growing faster than EPS, indicating per-share earnings improvement is lagging. This can reflect dilution, higher non-operating costs or tax/finance impacts, and may limit per-share returns and investor upside even if top-line and margins continue to improve.

No dividend income support

The lack of a dividend yield reduces direct income for shareholders and means returns rely on capital appreciation. As a durable policy signal, it narrows appeal to income-focused investors and offers less downside cushion in periods of weaker growth compared with dividend-paying peers.

Go Fashion (India) Limited Business Overview & Revenue Model

Company Description

Go Fashion (India) Limited engages in the design, development, sourcing, marketing, and retailing of women's bottom-wear and kids apparel products under the Go Colors brand in India. Its bottom-wear products include churidars, leggings, dhotis, harem pants, patiala, palazzos, culottes, pants, trousers, and jeggings in various categories, such as ethnic wear, western wear, fusion wear, athleisure, denims, plus sizes, and girl's wear. The company sells its products through a network of 503 exclusive brand outlets, as well as through its website, online marketplaces, and multi-brand outlets. The company was formerly known as Go Fashion (India) Private Limited and changed its name to Go Fashion (India) Limited. Go Fashion (India) Limited was incorporated in 2010 and is headquartered in Chennai, India.

How the Company Makes Money

GOCOLORS generates revenue primarily through the sale of its extensive range of bottoms and related apparel. The company operates through a multi-channel retail model that includes exclusive brand outlets, multi-brand retail stores, and an online platform, allowing it to reach a broad customer base. Key revenue streams include direct sales from retail outlets, e-commerce sales, and partnerships with various online marketplaces. Additionally, GOCOLORS benefits from strategic collaborations with distributors and retailers, enhancing its market reach and brand visibility. The consistent demand for fashionable and affordable ethnic wear among Indian women contributes significantly to the company's earnings.

Go Fashion (India) Limited Financial Statement Overview

Summary

Strong income statement performance with consistent revenue growth, improving net margins, and favorable EBIT/EBITDA trends. Cash generation is healthy with operating cash flow exceeding net income and growing free cash flow. Balance sheet is solid with improving ROE, though moderate reliance on liabilities and a moderate debt-to-equity profile add some risk.

Income Statement

Go Fashion (India) Limited has demonstrated robust revenue growth, with a consistent year-on-year increase in total revenue. The gross profit margin is strong, indicating effective cost management. Net profit margin has improved significantly over the years, reflecting enhanced profitability. The EBIT and EBITDA margins also show a favorable trend, reinforcing operational efficiency.

Balance Sheet

The company's balance sheet highlights a stable financial position with consistent growth in stockholders' equity. The debt-to-equity ratio remains moderate, suggesting a balanced approach to leveraging. Return on equity has shown improvement, pointing to effective utilization of equity capital. However, the equity ratio indicates a moderate reliance on liabilities, posing some financial risk.

Cash Flow

The cash flow statements of Go Fashion (India) Limited reflect strong operating cash flows, which exceed net income, indicating healthy cash generation from operations. Free cash flow has exhibited growth, supporting the company's capacity for reinvestment and debt servicing. The free cash flow to net income ratio underscores the firm's ability to convert profits into cash effectively.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	8.51B	8.48B	7.63B	6.65B	4.00B	2.50B
Gross Profit	4.70B	5.37B	2.06B	4.04B	2.40B	1.46B
EBITDA	2.82B	2.68B	2.63B	2.27B	1.41B	789.02M
Net Income	871.08M	934.99M	827.76M	827.98M	356.01M	-35.39M
Balance Sheet
Total Assets	0.00	12.80B	11.39B	9.26B	7.51B	5.48B
Cash, Cash Equivalents and Short-Term Investments	2.48B	2.48B	1.96B	1.03B	1.39B	860.95M
Total Debt	0.00	5.07B	4.69B	3.39B	2.51B	2.32B
Total Liabilities	-6.97B	5.83B	5.36B	4.06B	3.13B	2.65B
Stockholders Equity	6.97B	6.97B	6.04B	5.20B	4.38B	2.83B
Cash Flow
Free Cash Flow	0.00	1.59B	1.75B	686.62M	131.61M	798.25M
Operating Cash Flow	0.00	1.99B	2.19B	1.04B	330.19M	898.53M
Investing Cash Flow	0.00	-755.88M	-1.29B	-275.68M	-584.18M	-472.58M
Financing Cash Flow	0.00	-1.23B	-1.08B	-840.89M	642.08M	-371.39M

Go Fashion (India) Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 444.60
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GOCOLORS, the sentiment is Negative. The current price of 444.6 is above the 20-day moving average (MA) of 406.70, below the 50-day MA of 451.78, and below the 200-day MA of 687.80, indicating a bearish trend. The MACD of -19.94 indicates Negative momentum. The RSI at 35.89 is Neutral, neither overbought nor oversold. The STOCH value of 35.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:GOCOLORS.

Go Fashion (India) Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GRMOVER	72 Outperform	₹30.28B	44.28	―	―	-8.29%	4.70%
GOCOLORS	65 Neutral	₹20.92B	29.41	―	―	6.65%	2.96%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
JINDWORLD	61 Neutral	₹25.39B	36.36	―	0.13%	12.93%	-17.47%
REDTAPE	61 Neutral	₹68.35B	37.83	―	0.60%	7.29%	14.72%
LUXIND	52 Neutral	₹28.04B	22.05	―	0.18%	16.32%	-20.97%
HIMATSEIDE	50 Neutral	₹13.06B	15.06	―	0.21%	-7.55%	-30.11%

Go Fashion (India) Limited Corporate Events

Go Fashion (India) Schedules Q3 & 9M FY26 Investor Conference Call

Go Fashion (India) Limited has announced an investor conference call to discuss its financial and operational performance for the third quarter and nine months of FY26, scheduled for Thursday, 29 January 2026 at 5:00 p.m. IST. The call, to be led by CEO Gautam Saraogi and CFO Mohan R., is being held under regulatory disclosure norms and is open to domestic and international investors via multiple access numbers, underscoring the company’s ongoing investor engagement efforts and transparency around its quarterly results.

Go Fashion (India) Limited Releases Q3 2025 Financial Results

Go Fashion (India) Limited announced the publication of its standalone unaudited financial results for the quarter ending September 30, 2025. These results were approved in a board meeting on November 7, 2025, and subsequently published in Financial Express and Makkal Kural on November 8, 2025. This announcement is part of the company’s compliance with SEBI regulations, reflecting its commitment to transparency and regular communication with stakeholders.