Go Fashion (India) Ltd(GOCOLORS)

NSE: GOCOLORSBSE: 543401

₹ 254.95+0.83%refreshed 26 Oct, 03:30 pm ISTMarket cap: ₹ 1,341 crNext results: 30 Oct 2026Website: www.gocolors.comUpdated: 27 Oct 2026

About

Go Fashion (India) Ltd, listed as GOCOLORS, is an Indian women's bottom-wear specialist selling under the Go Colors brand through exclusive brand outlets (EBOs), large-format stores (LFS) and multi-brand outlets (MBO). The company reported revenue of ₹838 crores in FY26 and operates 751 EBO stores across India as of Q1 FY27. It is extending its format from a bottom-wear specialist into a daily-wear multi-category retailer covering women's top wear and men's wear.^[1][2][3]

Distribution channels

EBO channel contributes the majority of sales; EBO count stood at 751 stores covering 4,26,963 sq ft of retail area in Q1 FY27, down from 802 stores and 4,33,979 sq ft at end of FY26 following a deliberate consolidation programme.^[2][3]
LFS channel revenue was ₹50 crores in Q1 FY27, up 2% YoY, recovering from a ~30% drop in Q3 FY26 caused by a ~45-day dispatch halt by a key LFS partner.^[2][4]
MBO channel was growing at a healthy double-digit rate as of H1 FY26, though on a small base.^[5]

Product portfolio

Non-leggings bottom wear (trousers, palazzos, joggers, treggings, jeggings, athleisure, fusion styles) contributed ~70% of revenues in FY26, up from 62% in FY25 and 38% in FY19.^[3]
Leggings and churidars now represent ~35% of sales mix, down from 50-55% pre-COVID, as the trousers category has grown to absorb share.^[5]
Average selling price (ASP) in EBOs was ₹863 in Q1 FY27, up from ₹811 in Q4 FY26 and ₹792 in H1 FY26; company targets maintaining ASP below ₹1,000 in the long term.^[2][3][5]
Full-price sales ratio in EBOs stood at 94% in Q1 FY27; the ratio was 95% for 9M FY26, reflecting minimal discounting.^[2][4]

Store operating metrics

EBO SSSG turned positive at +0.6% in Q1 FY27, the first positive reading in several quarters, after -2.6% in Q4 FY26, -4.5% in Q3 FY26, -3.6% in Q2 FY26, and -3.4% for full-year FY26.^[2][3][4][5]
Same-cluster sales growth (SCSG) was +1.2% in Q1 FY27 and +1.2% in Q4 FY26, running ahead of SSSG and reflecting the benefit of consolidating catchments.^[2][3]
Stores larger than 700 sq ft delivered SSSG of 2.5%-3% in Q1 FY27, well above the blended +0.6%; more than 130 such stores exist in the network.^[2]
Gross margin was 62.9% in Q1 FY27 (-10 bps YoY) and 63.2% for full-year FY26 (-10 bps YoY); company targets the 62.5%-63.5% range for FY27.^[2][3]
Inventory days improved to 100 days in Jun-26 from 152 days at Mar-26; overall working capital days stood at 139 days in Q1 FY27.^[2]

Store network consolidation

66 stores were closed in Q1 FY27 in catchments where a larger-format store is already open or planned, reducing total retail area by ~7,000 sq ft in the quarter.^[2]
50+ small stores were closed in FY26 as part of the same programme; stores below ~300-350 sq ft were posting SSSG of minus 9-10% vs the company average of minus 5% in Q3 FY26.^[3][4]
Net retail area grew 11% YoY to 4,33,979 sq ft in FY26 despite net store closures, as larger-format replacements added more area than the closed stores had.^[3]

Daily Wear concept format

The Daily Wear concept - combining women's bottom wear, top wear, and men's wear in 1,500-2,000 sq ft stores - had 15 stores operational in Q1 FY27, up from 10 at end of FY26 and 6 at end of Q3 FY26.^[2][3][4]
Of the 15 Daily Wear stores, 12-13 are already double-digit EBITDA positive, generating ~₹1,000 of sales per sq ft per month in Q1 FY27.^[2]

Expansion plans

Daily Wear concept stores are targeted to reach 25-30 by end of FY27 from 15 in Q1 FY27.^[2][3]
Net retail area is targeted to grow 8-10% on a full-year FY27 basis despite near-term quarterly reductions from store closures.^[2]
Company aims to nearly double total retail area over the next five years from the current base, requiring no external funding.^[2][3]
10-12 genuinely new bottom-wear product formats are planned for FY27, targeting new purchase occasions and customer cohorts.^[2][3]
Go Colors opened its first international store in the Middle East in FY26; management is studying unit economics before scaling internationally.^[3]

Recent developments

Shraddha Kapoor was onboarded as brand ambassador from July 2026 to strengthen brand salience and reach a younger audience; ad spend rose to 2.3% of revenue in Q1 FY27 from 1.5% in Q1 FY26.^[2]
A ₹65 crore share buyback (14.13 lakh shares at ₹460/share) was approved in Q3 FY26 when cash and equivalents stood at ₹256 crores; cash stood at ₹202 crores as of Q1 FY27.^[4][2]
Fabric cost inflation of 7-10% is expected to pressure gross margins in coming quarters of FY27; management has stated no price hikes are planned while awaiting raw material price stabilisation.^[2]

Market Cap

₹1,341 Cr

High / Low

₹690 / 237

Stock P/E

25.3

Price / Book

1.9

Book Value

₹131

EPS

₹11.3

No. of Shares

5.26 Cr

ROCE

11.5%

ROE

8.5%

OPM

14.9%

Debt / Equity

0.00

Sales

₹838 Cr

Net Profit

₹59 Cr

Promoter holding

55.5%

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