Go Fashion (India) Limited reports strong Q3 & 9 Months FY22 Performance

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+Mr. Gautam Saraogi, CEO, Go Fashion (India) Limited

Chennai, 6^th February 2022 (GNI): Go Fashion (India) Limited, one of the leading women’s bottom-wear brand in India engaged in the development, design, sourcing, marketing and retailing a range of women’s bottom-wear products under the brand, ‘Go Colors’ announced its Unaudited Financial Results for the Quarter and nine months ended 31^st December 2021.

Key Financial Highlights

Particulars (in Rs. Crore)	Q3FY22	Q3FY21	Y-o-Y	9MFY22	9MFY21	Y-o-Y
Total Revenue	142.0	96.9	47%	285.1	160.8	77%
EBITDA	52.1	30.3	72%	81.3	21.7	276%
EBITDA Margin	36.7%	31.3%		28.5%	13.5%
Profit before Tax	33.0	16.9	95%	32.7	-12.6	–
PAT	23.7	17.8	33%	23.3	-10.7	–
PAT Margin	16.7%	18.3%		8.2%	-6.6%

Commenting on the Result, Mr. Gautam Saraogi, CEO, Go Fashion (India) Limited said, “In challenging times, our Company has recorded strong operational growth. For the quarter gone by, our Revenues have increased by 47% to Rs. 142 crores. EBITDA has increased by 72% to Rs. 52 crores. With increased efficiencies in the business, our EBITDA Margins have also increased by 540 basis points to 36.7% for the quarter.

We continue to expand and strengthen our bottom wear portfolio by launching new products across Ethnic, Western, Fusion, loungewear, work-from-home collection & athleisure.

During FY22, the Company has added 27 EBO stores taking the total to 476 EBO stores and also introduced 11 new products to the portfolio.

As part of our growth strategy, we intend to expand our EBO network in other regions across India. We plan to add 120 – 130 EBO’s every year. We intend to follow the COCO model that will ensure better operational control over our stores. We intend to leverage the experience of our operations and business development teams to grow our network in existing and newer geographies. Our expansion into newer markets offers us potential for market share gains, increased brand recognition, and economies of scale.

We will also look at selectively expanding our presence across Large Format Stores (LFS). As our LFS partners grow their presence across India we will acquire new customers across different geographies.

We have strategically undertaken brand-building initiatives to gain visibility with prudent use of resources while incurring limited branding and marketing expenses.

We continue to focus and grow our online sales channels to benefit from evolving customer trends in our market. We intend to make investments in digital channels to build an omni-channel engagement experience for our customers and have a dedicated team for our e-commerce operations, ” stated in the press release.ends