Go Fashion (India) (GOCOLORS) Q3 25/26 earnings summary

Executive summary

• Q3 FY26 revenue was INR 195 crores, with gross margins at 64.3%, EBITDA at INR 52 crores (26.7% margin), and PAT at INR 7 crores (3.7% margin); 9M FY26 revenue was INR 642 crores, EBITDA INR 187 crores, and PAT INR 51 crores.

• The company maintained a high full-price sales ratio (>95%) and stable operational metrics, reflecting disciplined execution.

• Non-leggings/value-added bottom-wear now contributes 65% of sales, up from less than 50% previously.

• Continued expansion with 13 new EBO stores in Q3 and 49 in 9M FY26, totaling 825 EBOs across India.

• Board approved a buyback of up to 1,413,000 equity shares (2.62% of paid-up capital) at INR 460 per share, totaling INR 65 crores, excluding promoters.

Financial highlights

• Q3 FY26 revenue: INR 195 crores; gross profit: INR 125 crores; gross margin: 64.3%.

• Q3 EBITDA: INR 52 crores (margin 26.7%); PAT: INR 7 crores (margin 3.7%).

• 9M FY26 revenue: INR 642 crores; gross profit: INR 406 crores; gross margin: 63.2%.

• 9M FY26 EBITDA: INR 187 crores (margin 29.2%); PAT: INR 51 crores (margin 8%).

• EPS for Q3 FY26 was INR 1.33; for 9M FY26, INR 9.49.

Outlook and guidance

• Store expansion to close FY26 with net addition of 60-70 stores, but future expansion will be more selective and cautious.

• Plans to expand by 120–130 EBOs annually, focusing on Tier 2 and Tier 3 cities, with no external funding required.

• Focus on improving SSSG from negative to flattish, then to low single digits, prioritizing existing store performance.

• Inventory levels expected to stabilize at 100 days by year-end.

• Company continues to monitor regulatory changes, especially regarding new Labour Codes.