Go Fashion Posts Steady Q2 Growth; Expands Store Network To 812 Outlets

Go Fashion (India) Limited, the company behind women’s bottom-wear brand Go Colors, reported moderate but steady growth in its financial results for the second quarter and half year ended September 30, 2025. The company continued to strengthen its retail footprint, maintain strong margins, and deliver stable cash flows despite a subdued consumption environment.

In Q2 FY26, Go Fashion reported total revenue of Rs 224.2 crore, registering a 7% year-on-year increase. Gross profit rose to Rs 140.3 crore, with margins at 62.6%, while EBITDA stood at Rs 66.6 crore, up 5% over the previous year. Profit after tax (PAT) for the quarter increased 6% to Rs 22 crore.

For the first half of FY26, revenues stood at Rs 447 crore, compared to Rs 428.6 crore in the previous year. Gross profit for the period was Rs 267.5 crore with a margin of 62.4%, while EBITDA came in at Rs 135.8 crore. PAT for H1 FY26 rose to Rs 49.3 crore, reflecting a 5% year-on-year growth.

The company’s business metrics remained stable, with an average selling price of Rs 792 and full-price sales contributing 95% of overall revenue. Exclusive Brand Outlets (EBOs) continued to drive the business, accounting for 69.7% of the sales mix in H1. LFS contributed 24.4%, online channels 3%, and MBOs and others 2.9%. Same Store Sales Growth (SSSG) declined by 2.4%, while Same Cluster Sales Growth (SCSG) was marginally positive at 0.2%.

Operational efficiency remained a focus area, with inventory days at 99, working capital days at 135, and cash and cash equivalents standing at Rs 259 crore. The company generated Rs 95 crore in operating cash flow post–Ind AS 116. Return ratios remained healthy, with RoCE at 16.4% and RoE at 12.7% (annualised, pre–Ind AS 116).

Go Fashion continued to pursue disciplined expansion, adding 36 net new Exclusive Brand Outlets during H1 FY26. The company now operates 812 stores across India as of 30th September 2025. It expects to open 80–90 stores on a net basis in FY26, maintaining a measured approach focused on high-potential locations and profitability.

Commenting on the performance, Gautam Saraogi, CEO, said the company is seeing early signs of recovery in the market. “The response during the festive period has been positive across key markets, reflecting an improvement in consumer sentiment. The GST cuts aimed at stimulating consumption are also supporting a broader revival in demand,” he said.

He added that Go Fashion is refreshing its product portfolio with new bottom-wear styles and category extensions aligned with evolving customer preferences. “Several exciting product launches are planned over H2 FY26, which will enhance the freshness and relevance of our collections,” he stated.

Saraogi noted that initiatives such as the company’s international foray and new daily-wear concept store are gaining traction. “Our approach to store expansion remains disciplined prioritizing profitability, catchment quality and brand salience,” he said. “Our strategy continues to center around positioning Go Fashion as the one-stop destination for women’s bottom-wear across age groups and occasions.”