Go Fashion gains after broker initiates 'Buy' rating
Go Fashion (India) rose 2.77% to Rs 884.50 after a domestic brokerage initiated coverage with a 'buy' rating and a target price of Rs 1,127, citing strong brand presence and first-mover advantage as key growth catalysts.
The brokerage highlighted that Go Fashion, which operates under the brand 'Go Colors', is a category leader in the womens bottom-wear segment with an 8% share in the organized market.
Leveraging its early-mover advantage, Go Colors has built a robust direct-to-consumer (D2C) brand, selling a wide range of products through 776 exclusive brand outlets (EBOs) across 180 cities.
The brokerage noted that bottom wear, positioned as a core wardrobe essential, serves functional and repeat-use needs. Its lower dependence on fashion trends, compared to top wear, supports steady demand and enables better pricing discipline.
Looking ahead, the brokerage expects Go Fashions revenue to grow at a 16% CAGR over FY25-28, driven by 18% growth in EBO and online channels. EBITDA and PAT are forecast to grow at 19% and 20% CAGR, respectively, during the same period.
Go Fashion (India) is a women's bottom-wear brand in India, with a market share of approximately 8% in the branded womens bottom-wear market. On a standalone basis, the company reported 52% jump in net profit to Rs 19.9 crore on a 13% increase in total revenue to Rs 204.8 crore in Q4 FY25 over Q4 FY24.
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