Buy Go Fashion share, price target Rs 1493

Go Fashion Share Price: Domestic brokerage firm Equirus Capital in a research report on Go Fashion (India) Ltd has maintained Buy rating. The firm estimates CAGR of 12 per cent over FY22-25E. Go Fashion owns popular women's wear brand Go Colors.

The brokerage house reported that Go Fashion, which is one of the largest players in women's bottom wear, would see women bottom wear to grow 12 per cent CAGR over FY20-FY25E. Superior and scalable store economics should facilitate robust growth, Equirus Capital said in the report. Shares of Go Fashion on Friday gained by 1.39 per cent to quote Rs 1,192.20 at 1 PM on NSE. 

Shares of Go Fashion had made a strong listing on stock exchanges on November 30, 2021, yielding bumper return of more than 90 per cent to its investors. In the second quarter of the current fiscal, the company recorded a 3.76 per cent rise in its profit after tax at Rs 19.3 crore.

The company had registered profit after tax at Rs 18.6 crore during corresponding quarter previous year. Total revenue during the quarter under review stood at Rs 165.8 crore as against Rs 112.1 crore registered corresponding quarter last fiscal, the company said. The cash flow from operations for the half year period ending September 30, 2022 stood at Rs 36 crore as compared to Rs 8 crore recorded in same period last year.

The company, during the September quarter, opened 36 new stores and in the first six months of the financial year it added 66 stores. Go Fashion (India) Ltd is an India-based clothing apparel company. The company is engaged in the development, design, sourcing, marketing and retailing of a range of women's bottom-wear products under the brand, Go Colors.

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