Go Fashion (India) Ltd

Go Fashion (India) Ltd

₹ 1,137 0.76%
03 Dec - close price
About

Incorporated in 2010, Go Fashion Limited (GFIL) is one of the largest women's bottom-wear brands in India. The company is engaged in the development, design, sourcing, marketing, and retailing of a range of women's bottom-wear products under the brand, 'Go Colors'. The company offers one of the widest portfolios of bottom-wear products among women's apparel retailers in terms of colors and styles. As of May 31, 2021, Go Colors sold bottom-wear in over 50 styles in more than 120 colors.[1]

Key Points

India’s Leading Women Apparel brand[1]
GFIL is the first and largest company to launch a brand exclusively dedicated to women’s bottom-wear category, with a market share of ~8% in the branded women’s bottom-wear market in FY24.

  • Market Cap 6,157 Cr.
  • Current Price 1,137
  • High / Low 1,408 / 933
  • Stock P/E 71.8
  • Book Value 121
  • Dividend Yield 0.00 %
  • ROCE 15.7 %
  • ROE 14.6 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 21.5% CAGR over last 5 years

Cons

  • Stock is trading at 9.40 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
112 142 116 165 164 176 158 190 189 202 182 220 209
77 90 77 112 115 116 108 126 132 135 128 148 145
Operating Profit 35 52 39 53 50 60 50 64 57 68 54 72 64
OPM % 31% 37% 34% 32% 30% 34% 32% 34% 30% 33% 30% 33% 30%
5 3 3 4 3 3 3 4 4 4 6 6 7
Interest 5 5 7 6 7 7 8 8 9 10 12 11 11
Depreciation 17 17 21 19 21 23 25 25 26 29 31 29 31
Profit before tax 18 33 15 32 25 33 19 35 26 32 17 37 28
Tax % -3% 28% 19% 23% 22% 26% 23% 24% 22% 28% 24% 23% 27%
19 24 12 24 19 24 15 26 20 23 13 29 21
EPS in Rs 6.20 4.39 2.28 4.53 3.57 4.50 2.74 4.87 3.71 4.33 2.42 5.30 3.82
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
114 189 285 392 251 401 665 763 812
99 153 204 264 203 277 450 517 555
Operating Profit 16 36 81 128 47 124 215 246 257
OPM % 14% 19% 28% 33% 19% 31% 32% 32% 32%
1 1 6 5 32 21 12 17 23
Interest 1 2 12 18 22 25 31 42 44
Depreciation 2 4 32 47 60 72 87 110 120
Profit before tax 13 31 42 68 -3 48 109 110 115
Tax % 40% 34% 27% 23% 13% 26% 24% 25%
8 21 31 53 -4 36 83 83 86
EPS in Rs 8.03 20.59 10.31 17.54 -1.18 6.59 15.33 15.33 15.87
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 22%
3 Years: 45%
TTM: 14%
Compounded Profit Growth
10 Years: %
5 Years: 21%
3 Years: 189%
TTM: 0%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: -3%
1 Year: -16%
Return on Equity
10 Years: %
5 Years: 14%
3 Years: 14%
Last Year: 15%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 10 10 30 30 30 54 54 54 54
Reserves 41 138 149 207 204 384 466 550 600
32 52 203 259 281 250 340 469 493
12 15 23 25 36 68 71 72 82
Total Liabilities 95 215 405 521 551 756 931 1,145 1,229
19 26 186 256 260 291 394 527 552
CWIP 1 2 2 8 9 9 7 11 10
Investments 7 81 23 9 46 46 22 6 10
68 106 194 248 237 410 508 601 656
Total Assets 95 215 405 521 551 756 931 1,145 1,229

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
6 -4 33 57 90 33 104 219
-15 -11 -5 -18 -47 -58 -28 -73
-0 99 -31 -44 -37 64 -84 -108
Net Cash Flow -10 84 -3 -5 5 39 -8 38

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 76 56 51 52 69 55 40 38
Inventory Days 191 257 272 302 333 459 386 318
Days Payable 41 47 53 29 42 48 60 53
Cash Conversion Cycle 226 266 269 325 359 466 366 303
Working Capital Days 144 134 138 155 190 189 156 138
ROCE % 23% 19% 20% 4% 12% 18% 16%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
52.79% 52.79% 52.79% 52.78% 52.78% 52.78% 52.78% 52.78% 52.78% 52.78% 52.78% 52.78%
10.42% 7.64% 6.98% 6.77% 6.37% 16.57% 11.02% 11.00% 12.05% 12.15% 12.69% 11.79%
19.68% 22.53% 23.68% 23.64% 27.39% 27.74% 31.99% 32.07% 31.02% 31.87% 31.44% 32.82%
17.12% 17.05% 16.55% 16.81% 13.45% 2.90% 4.20% 4.15% 4.14% 3.19% 3.08% 2.62%
No. of Shareholders 47,40646,38540,52335,50133,31630,07333,13630,55630,04826,45927,28524,238

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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