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

• Market Cap: ₹12.89B
• Dividend Yield: N/A
• Average Volume (3M): 27.52K
• Price to Earnings (P/E): 87.0
• Beta (1Y): 1.49
• 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): 14.14
• Revenue Forecast (FY): ₹8.61B

• Rating: 58 Neutral
• Price Target: ₹248.00 ▼(-44.22% Downside)
• Action: Reiterated Date: 03/10/26
• Date: Action: Reiterated 03/10/26

Overall score is weighed down by weak technicals (price below all key moving averages and bearish momentum indicators) and a high P/E valuation, despite strong underlying financial performance with improving profitability and solid cash generation.

Positive Factors

Consistent revenue growth & improving margins

Sustained year-on-year revenue increases combined with strong gross and EBITDA margins point to durable product demand and effective cost control. This margin resilience supports reinvestment into stores and product lines, making operating performance more predictable over the next 2-6 months.

Strong operating and free cash flow generation

Operating cash generation that outpaces net income and a rising free cash flow profile indicate high cash conversion and internal financing capacity. This strengthens the firm's ability to fund expansion, service debt, and endure industry slowdowns without immediate external financing dependence.

Stable balance sheet with improving ROE

A stable balance sheet with rising equity and improving return on equity suggests effective capital allocation and growing shareholder value. Moderate leverage alongside improving ROE provides financial flexibility to support franchising, store investments, and omni-channel initiatives over the medium term.

Negative Factors

Moderate reliance on liabilities/debt

A moderate dependence on liabilities constrains flexibility in a downturn and raises refinancing and interest risks. If sales or margins weaken, debt servicing could pressure cash flows and limit the company’s ability to invest in growth or respond to competitive moves, affecting stability.

Negative recent EPS growth

A material decline in EPS signals either margin pressure, adverse mix, or one-off items reducing shareholder earnings. Continued EPS contraction can undermine reinvestment capacity and shareholder returns, and may require management action to restore operating leverage and profitability trends.

Concentrated product focus

Heavy concentration on women’s bottom-wear narrows market exposure and amplifies vulnerability to category-specific trends or fashion shifts. Limited product diversification can cap upside in slower segments and increases reliance on sustained brand preference within a single apparel category.

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

Go Fashion (India) Limited makes money primarily by selling branded women’s bottom-wear across multiple distribution channels. The company’s core revenue stream is product sales under the Go Colors brand, with income realized when merchandise is sold through: (1) Exclusive Brand Outlets (EBOs), where the company earns retail revenue from consumer purchases in company-operated stores and typically earns revenue via sell-in to and/or margin structures with franchisee-operated stores; (2) business-to-business (B2B) sales to large-format retailers and multi-brand outlets, where it supplies inventory wholesale and recognizes revenue from these trade customers; and (3) online sales, including the company’s own online presence and/or sales via third-party e-commerce marketplaces, where it earns retail sales revenue net of platform fees, discounts, and returns as applicable. Key factors that support earnings include brand-led demand in a focused product category (women’s bottom-wear), a broad style/color assortment that can drive repeat purchases, and an omni-channel distribution strategy that expands reach across geographies and customer segments. Specific details on material partnerships, fee structures, or the split of revenue by channel are null.

Go Fashion (India) Limited Financial Statement Overview

Summary

Strong and improving profitability supported by consistent revenue growth, solid gross/EBITDA margins, and healthy operating/free cash flow conversion. Balance sheet is generally stable with improving ROE, though moderate reliance on liabilities/debt adds 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	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	8.67B	8.48B	7.63B	6.65B	4.00B	2.50B
Gross Profit	4.71B	5.37B	2.06B	4.04B	2.40B	1.46B
EBITDA	2.85B	2.68B	2.63B	2.27B	1.41B	789.02M
Net Income	882.79M	934.99M	827.76M	827.98M	356.01M	-35.39M
Balance Sheet
Total Assets	13.68B	12.80B	11.39B	9.26B	7.51B	5.48B
Cash, Cash Equivalents and Short-Term Investments	1.94B	2.48B	1.96B	1.03B	1.39B	860.95M
Total Debt	5.35B	5.07B	4.69B	3.39B	2.51B	2.32B
Total Liabilities	6.26B	5.83B	5.36B	4.06B	3.13B	2.65B
Stockholders Equity	7.41B	6.97B	6.04B	5.20B	4.38B	2.83B
Cash Flow
Free Cash Flow	754.98M	1.59B	1.75B	686.62M	131.61M	798.25M
Operating Cash Flow	951.10M	1.99B	2.19B	1.04B	330.19M	898.53M
Investing Cash Flow	-239.25M	-755.88M	-1.29B	-275.68M	-584.18M	-472.58M
Financing Cash Flow	-679.17M	-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: Positive
• RSI: Positive
• STOCH: Positive

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 305.12, above the 50-day MA of 359.93, and below the 200-day MA of 615.09, indicating a bearish trend. The MACD of -31.57 indicates Positive momentum. The RSI at 13.19 is Positive, neither overbought nor oversold. The STOCH value of 7.69 is Positive, 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	₹28.06B	38.77	―	―	-8.29%	4.70%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
REDTAPE	61 Neutral	₹64.49B	16.39	―	0.60%	7.29%	14.72%
GOCOLORS	58 Neutral	₹12.89B	87.04	―	―	6.65%	2.96%
JINDWORLD	58 Neutral	₹20.91B	51.05	―	0.13%	12.93%	-17.47%
LUXIND	52 Neutral	₹25.86B	64.82	―	0.18%	16.32%	-20.97%
HIMATSEIDE	43 Neutral	₹10.09B	46.69	―	0.21%	-7.55%	-30.11%

Go Fashion (India) Limited Corporate Events

Go Fashion (India) Releases Q3 & 9M FY26 Earnings Call Transcript

Go Fashion (India) Limited has released the transcript of its Q3 and nine-month FY 2025-26 earnings conference call, held on January 29, 2026, covering financial results for the quarter ended December 31, 2025. The disclosure, signed by Company Secretary and Compliance Officer Gayathri Kethar and featuring remarks from CEO Gautam Saraogi and CFO R. Mohan, serves to formally place the detailed management discussion of the company’s latest quarterly performance and outlook on record for investors and exchanges, enhancing transparency and access to information for market participants.

Go Fashion Publishes Q3 FY2025 Standalone Results in Leading Dailies

Go Fashion (India) Limited has notified the stock exchanges that its standalone unaudited financial results for the quarter ended 31 December 2025, as approved by the board on 29 January 2026, have been published in the Financial Express (English) and Makkal Kural (Tamil). The disclosure, made pursuant to SEBI’s Listing Obligations and Disclosure Requirements, underscores the company’s compliance with regulatory norms and ensures wider public access to its quarterly financial performance through leading print media outlets.

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.