Home   |   Research & Knowledge   |   Contact   |   Careers   |   FAQs
Gainers & Losers
Weekly Gainers
Weekly Losers
New Highs & New Lows
52 Week Highs
52 Week Lows
Advance and Decline
Bulk Deals
Block Deals
Detailed Quotes
Company Background
Board Of Directors
Balance Sheet
Profit & Loss
Quarterly Results
Key Financial Ratios
Share Prices
Company News
Directors Reports
Share Holding Pattern
Quoted & Unquoted Investment
Equity History
Foreign Market
Pre Session
Mid Session
End Session
FII Activities
MF Activities
 
Company News
ICRA upgrades credit rating of Go Fashion
(09 Apr 2022)

The credit rating agency has upgraded Go Fashion's long-term rating to '[ICRA] A' from '[ICRA] A-'. It has also upgraded the company's short-term rating to '[ICRA] A1' from '[ICRA] A2+'.

ICRA said that the ratings upgrade reflects the expected steady improvement in the performance of Go Fashion India (GFIL) over the medium term, backed by its strong market position in the domestic women's bottom wear segment.

Besides, GFIL has a healthy financial profile, characterized by strong capitalization levels and liquidity position, further strengthened by the equity infusion of Rs 125 crore made through the initial public offering (IPO) in November 2021.

Post the pandemic-induced business disruptions in FY2021, GFIL's business performance improved in the current fiscal, driven by its established brand and better demand conditions (registering around 77% YoY revenue growth in 9M FY2022).

ICRA expects GFIL's revenue to witness a 10% CAGR over the medium term, driven by steady demand and continued diversification measures with around 120 exclusive brand outlets (EBOs) proposed to be added every year in the coming fiscals.

Further, backed by its store operating efficiency, better economies of scale, and improving revenue contribution from the higher-margin EBO channel, the operating margins have recovered to approximately 30% in FY 2022 and are likely to remain at similar strong levels in the coming fiscals.

The 'stable' outlook reflects ICRA's opinion that GFIL's performance in the coming quarters will continue to benefit from its established market position with a healthy operating efficiency, proposed diversification initiatives, and strong capitalization levels.

Go Fashion (India) is involved in the retailing of women's bottom wear products under its brand, Go Colors. The products are sold in the domestic market through its extensive pan India retail channel comprising 476 EBOs and around 1,330 large format stores.

The company's consolidated net profit rose 33.4% to Rs 23.69 crore on 46.6% rise in net sales to Rs 142 crore in Q3 FY22 over Q3 FY21.

The scrip shed 0.14% to end at Rs 996.00 on the BSE on Friday.

   
Back Top
Home   |   The Company   |   Portfolio Management   |   Research & Knowledge   |   Privacy & Security
© 2011, Equity Intelligence Pvt. Ltd.       Developed & powered by CMOTS Infotech (ISO 9001:2015 certified)