Go Fashion (India) (GOCOLORS) Q1 24/25 earnings summary

Executive summary

• Q1 FY25 revenue reached INR 220.1 crore, up 16% YoY, with PAT at INR 28.7 crore, up 9% YoY, and unaudited results approved by the Board with an unmodified auditor opinion.

• Maintained leadership in branded women's bottom wear with an 8% market share and a diversified product portfolio.

• Added 20 net stores in Q1 FY25, totaling 700 stores across 164 cities, with a target of 120-150 new stores for FY25.

• Strategic expansion into the Middle East via a FOFO model with Apparel Group is on track, with the first store expected this year.

Financial highlights

• Q1 FY25 revenue was INR 220 crore, up 16% YoY from INR 190 crore in Q1 FY24.

• Gross profit grew 17% YoY to INR 136 crore, with a gross margin of 61.8%.

• EBITDA stood at INR 72.1 crore (32.8% margin), and PAT was INR 29 crore, up 9% YoY (PAT margin 13%, EPS INR 5.30).

• Cash and cash equivalents as of June 2024 were INR 220 crore, including mutual funds and FDs.

Outlook and guidance

• Plans to expand by 120–150 stores in FY25, focusing on Tier 2 and Tier 3 cities.

• SSG target for FY25 is low single digits, aiming for 4%-5% by year-end.

• EBITDA margin guidance for FY25 is 19%-20% pre-Ind AS 116.

• Advertising spend to remain at 2% of revenue.