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29 January 2025, Mumbai
Owner of the women’s apparel brand, Go Colors, Go Fashion (India) plans to add 80–90 new stores by the end of FY25 and targets 120–150 store additions annually in the coming years. The company added 61 new EBOs on a net basis during the nine-month period ending December 2024, bringing its total store count to 775 as of December 31, 2024.
Q3, FY25 net profit of the company increased by 4 per cent Y-o-Y to Rs 24.32 crore as against Rs 23.40 crore net profit in Q3 FY24. Its revenue from operations grew by 6 per cent Y-o-Y to Rs 214.73 crore, compared to Rs 202.11 crore in the corresponding quarter last year.
Total income of the company rose to Rs 220.57 crore from Rs 206.31 crore in Q3 FY24. It registered a 5.1 per cent in total expenses to Rs 183.13 crore during the year as against expenses of Rs 174.02 crore in Q3, FY24.
The company consumed materials worth Rs 48.71 crore in Q3 FY25, compared to Rs 38.41 crore in the same period last year. Its profit before tax for the quarter stood at Rs 32.26 crore, marginally lower than Rs 32.29 crore in Q3 FY24. The company reported basic and diluted earnings per share (EPS) of Rs 4.50 during Q3 FY25, compared to ₹4.33 in the same quarter last year.
This moderate growth in revenue and profitability reflects steady demand for Go Colors apparel. However, the company needs to control costs, particularly materials and employee expenses in the coming quarters.
For the nine months ending December 2024, Go Fashion’s (India) average selling price (ASP) stood at Rs 769, reflecting a strategic shift towards premium offerings. With 71.9 per cent, EBOs dominated the company’s sales followed by large format stores at 23.5 per cent and online channels at 2.9 per cent.
Gautam Saraogi, CEO, Go Fashion, says, with inventory control and working capital efficiency as key focus areas, the company aims to convert more than 50 per cent of its EBITDA into operating cash flows. The company is on track to achieving its FY25 goals and expanding its store network further, he adds.
With consistent growth in revenue and profitability, a strategic focus on premiumization, and expansion into new markets, Go Fashion is well-positioned to strengthen its foothold in the bottom-wear market. The company’s robust operational and financial performance underscores its potential for sustained growth in the coming quarters.
