Sector Alpha Week of 2026-07-24
Sector Alpha — machine-written from the numbers · Data as of 2026-07-24

Go Fashion (India) Ltd

GOCOLORS
Textiles - Readymade Apparel

Go Fashion (India) Ltd is cheap for a reason. The P/E sits at the 10th percentile of its own range, and the quarters are still getting worse.

The sharpest disagreement: annual EPS moved −35.0% against a −60.7% price move — the market has not yet caught up with the delivery.

The price is in a downtrend (83 weeks in) while the P/E sits at the 10th percentile of its own 4-year range. Underneath, the last four quarters read deteriorating — profit −60.0% year on year, and 247% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.

Stage
Deteriorating
partial read
Price
₹349
−60.7% 1Y
P/E
28.8×
10th pctile
of its own 4-year range
Revenue (Mar 26)
₹196 Cr
−4.2% YoY
Profit (Mar 26)
₹8.0 Cr
−60.0% YoY
Operating margin
25.3%
−5.2 pp YoY
ROCE
11%
FY26
ROIC
7.1%
vs WACC 12.0% → −4.9 pp
Cash conversion
247%
of profit, last 3 FY
Unverified figures: Some figures on this page come from a second financial-data feed that could not be cross-checked against the primary source — the two do not share enough overlapping reported history to compare. They are drawn, because they are the only evidence there is, and every section carrying one is marked unverified. PEG is the exception: the ratio and its quarterly curve are not drawn at all. PEG asks what is being paid for growth — both sides of that division come from the source that could not be checked, so it is withheld instead of marked.
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Go Fashion (India) Ltd trades at ₹349, in a downtrend and 83 weeks into that stage. That is −19.2% against its own 200-day average. It sits at 19% of a 52-week range of ₹257 to ₹739. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 12 straight weeks.

Today the stock is in a downtrend — week 83 of stage 4, confirmed. At ₹349 it trades −19.2% versus its 200-day average and sits at 19% of its 52-week range (₹257–₹739).

Jul 26: ₹349 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
−19.2% versus the 200-day line, week 83 of stage 4
Price50-day avg200-day avg
S2S4S2S4₹1,478₹1,150₹822₹494₹167₹349₹432Jul 23Apr 24Jan 25Oct 25Jul 26
S2S4S2S4₹1,478₹1,150₹822₹494₹167₹349₹432Jul 23Jan 25Jul 26
Beating or trailing, week by week since 2021 Each cell is one week from 2021 to now (245 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Dec 21Jul 26

Against the market, two honest reads. Cumulative: over the last 4.6 years the stock moved −72% while the NIFTY 500 moved +55% — behind the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 12 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 10th percentile of its own range.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Go Fashion (India) Ltd trades at 28.8× P/E, near the bottom of its own range — cheaper only 10% of the time. Its long-run median P/E is 67.3×, measured across 3.9 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 28.8× is near the bottom of its own range — cheaper only 10% of the time, against a long-run median of 67.3× measured over 3.9 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 28.8× vs a 67.3× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 3.9-year window; loss-period spikes above 86× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
near the bottom of its own range — cheaper only 10% of the time
P/EMedianEPS (TTM) (quarterly)
91.6×₹18.872.3×₹14.152.9×₹9.433.5×₹4.714.2×₹0.0×28.80×₹11Aug 22Aug 23Aug 24Aug 25Jul 26
91.6×₹18.872.3×₹14.152.9×₹9.433.5×₹4.714.2×₹0.0×28.80×₹11Aug 22Aug 24Jul 26
P/E
28.8×
10th percentile of 4y

Why the multiple sits where it does: over the past year annual EPS moved −35.0% against a −60.7% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 3y, of the −32.4%/yr price move, ~−9.8%/yr came from earnings growth and ~−22.6 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.

The PEG ratio and its quarterly curve, which only the second data source carries, are not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

03 · Stage: Deteriorating

Stage: Deteriorating Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Go Fashion (India) Ltd reads as deteriorating on its fundamental arc. Deteriorating — revenue and profit growth are shrinking (revenue growth −4.2% latest (single-quarter readings) against +15.8% at its 12-quarter best), ROCE slipping at 11.0%. The read is built from 10 quarters across 3 curves, on partial evidence.

Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. Where the trailing-twelve-month history is short, the curve falls back to single-quarter year-on-year growth — noisier, and the classifier smooths and caps base-effect spikes before reading. A missing point means that reading is not held for the quarter.
the trajectory the stage is read from
RevenueProfitEPS
18%62%11%27%3.3%−9.0%−3.9%−45%−11%−80%%%−4.2%−60%−36.4%Jun 23Sep 24Mar 26
18%62%11%27%3.3%−9.0%−3.9%−45%−11%−80%%%−4.2%−60%−36.4%Jun 23Sep 24Mar 26
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
19%17%15%12%10%%11%FY23FY24FY26
19%17%15%12%10%%11%FY23FY24FY26
Revenue growth
Falling
latest −4.2% · span −9.2% to +15.8%
Profit growth
Falling
latest −60.0% · span −60.0% to +52.4%
ROCE
Falling
latest 11.0% · span 11.0%–18.0%

🚨 Why it matters: falling curves mean every cheap-looking ratio below needs a discount for direction.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

Growth, year by year: revenue −1.2% in FY26, profit −37.2% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn.
Revenue YoYProfit YoYEPS YoY
74%184%44%106%15%28%−15%−51%−44%−129%%%−1.2%−37.2%FY17FY21FY26
74%184%44%106%15%28%−15%−51%−44%−129%%%−1.2%−37.2%FY17FY21FY26
TTM growth by quarter Trailing-twelve-month growth versus the year-ago TTM, per quarter, %: revenue (left axis); profit and EPS (right axis). The acceleration read compares the last 4 quarters (−1.2%) with the last 8 annualized (+4.8%).
revenue rolling over, profit rolling over
Revenue TTM YoYProfit TTM YoYEPS TTM YoY
15%17%11%2.6%6.4%−12%2.0%−26%−2.4%−41%%%−1.2%−36.7%Jun 23Sep 24Mar 26
15%17%11%2.6%6.4%−12%2.0%−26%−2.4%−41%%%−1.2%−36.7%Jun 23Sep 24Mar 26
Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue−1.2%+8.0%+27.3%
Profit−37.2%−10.8%
EPS−35.0%−9.8%
Share price−60.7%−32.4%
Revenue YoY (Mar 26)
−4.2%
latest quarter vs a year ago
Profit YoY (Mar 26)
−60.0%
latest quarter vs a year ago
Revenue 10y
24.8%
long-run compound pace

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

04 · 4-Factor Sector Score

4-Factor Sector Score

34.4/100 — rank 22 of 26 in Textiles - Readymade Apparel · 77% evidence confidence

Go Fashion (India) Ltd scores 34.4 out of 100 against the 26 companies it is compared with in Textiles - Readymade Apparel, ranking 22. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 6.5 + 12.1 + 12.4 + 3.4 = 34.4. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

05 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Go Fashion (India) Ltd reported ₹196 Cr of revenue in the Mar 26 quarter, −4.2% year on year. Over 9 years it has compounded at 24.8% a year. The last full year, FY26, came in at ₹838 Cr. The last four reported quarters add to ₹838 Cr.

Go Fashion (India) Ltd reported ₹196 Cr of revenue in the Mar 26 quarter, −4.2% year on year. Over 9 years it has compounded at 24.8% a year. The last full year, FY26, came in at ₹838 Cr. The last four reported quarters add to ₹838 Cr.

FY26 revenue came in at ₹838 Cr (−1.2% on the year), capping 9 years at 24.8% compound. The latest quarter (Mar 26) printed ₹196 Cr, −4.2% year on year.

FY26 revenue ₹838 Cr (−1.2% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 10-year window. A bar is red when it is lower than the year before.
24.8% a year over 9 years
RevenueYoY growth
91674%68744%45815%229−15%0−44%₹ Cr%₹838−1.2%FY17FY21FY26
91674%68744%45815%229−15%0−44%₹ Cr%₹838−1.2%FY17FY21FY26
Mar 26: ₹196 Cr (−4.2% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Revenue (quarterly)YoY growth
24218%18211%1213.3%61−3.9%0−11%₹ Cr%₹196−4.2%Jun 23Sep 24Mar 26
24218%18211%1213.3%61−3.9%0−11%₹ Cr%₹196−4.2%Jun 23Sep 24Mar 26

Pace check: the last four quarters averaged −1.2% growth against the decade's 24.8% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew −1.2% over the last 4 quarters against +4.8%/yr over the last 8 — rolling over; TTM profit −36.7% vs −15.4%/yr — rolling over.

→ Revenue slipped — did margins hold as it scaled? Next: 25.3% this quarter (−5.2 pp YoY).

06 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Go Fashion (India) Ltd's operating margin is 25.3% in the Mar 26 quarter, −5.2 percentage points against the same quarter a year ago. Across 10 fiscal years the operating margin has ranged 14.0% to 33.0%. The current quarter sits inside that band.

Go Fashion (India) Ltd's operating margin is 25.3% in the Mar 26 quarter, −5.2 percentage points against the same quarter a year ago. Across 10 fiscal years the operating margin has ranged 14.0% to 33.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 25.3%, −5.2 pp against the same quarter a year ago. Across 10 fiscal years the operating margin has ranged 14.0%–33.0%.

🚨 Why the margin moved: operating margin went −5.2 pp year on year while gross margin went −1.4 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

FY26: 28.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 10-year window.
within a 14.0–33.0% band over 10 years
operating marginYoY change (pp)
35%14%29%6.5%24%−1.0%18%−8.5%12%−16%%%28%−4%FY17FY21FY26
35%14%29%6.5%24%−1.0%18%−8.5%12%−16%%%28%−4%FY17FY21FY26
Mar 26: 25.3% operating margin (−5.2 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
34%1.3%32%−0.6%30%−2.5%27%−4.4%25%−6.3%%%25.3%−5.2%Jun 23Sep 24Mar 26
34%1.3%32%−0.6%30%−2.5%27%−4.4%25%−6.3%%%25.3%−5.2%Jun 23Sep 24Mar 26

→ Margins slipped — did that reach the bottom line? Next: profit −60.0% in the latest quarter.

07 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Go Fashion (India) Ltd earned ₹8.0 Cr of net profit in the Mar 26 quarter, −60.0% year on year. Full-year FY26 profit was ₹59.0 Cr. The 9-year compound rate is 24.9%. That is 4.1% of the quarter's revenue. The same quarter a year earlier earned ₹19.9 Cr.

Go Fashion (India) Ltd earned ₹8.0 Cr of net profit in the Mar 26 quarter, −60.0% year on year. Full-year FY26 profit was ₹59.0 Cr. The 9-year compound rate is 24.9%. That is 4.1% of the quarter's revenue. The same quarter a year earlier earned ₹19.9 Cr.

Mar 26 profit was ₹8.0 Cr, −60.0% year on year. On the full year, FY26 printed ₹59.0 Cr (−37.2%), and the 9-year compound rate is 24.9%.

FY26 profit ₹59.0 Cr (−37.2% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 10-year window. A bar is red when it is lower than the year before.
24.9% a year over 9 years
Net profitYoY growth
102184%73106%4528%17−51%−12−129%₹ Cr%₹59−37.2%FY17FY21FY26
102184%73106%4528%17−51%−12−129%₹ Cr%₹59−37.2%FY17FY21FY26
Mar 26: ₹8.0 Cr (−60.0% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
3162%2327%15−9.0%8−45%0−80%₹ Cr%₹8−60%Jun 23Sep 24Mar 26
3162%2327%15−9.0%8−45%0−80%₹ Cr%₹8−60%Jun 23Sep 24Mar 26

🚨 Why profit moved: revenue contributed −4.2% and the margin −5.2 pp — the quarter was revenue-led despite a thinner margin.

Pace comparison, last four quarters: profit −36.8% vs revenue −1.2%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.

→ Profit rose — but did the cash follow? Next: 247% of the last 3 years' profit arrived as cash.

08 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 247% of Go Fashion (India) Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹165 Cr of operating cash against ₹59.0 Cr of profit. After ₹156 Cr of capital spending, ₹9.0 Cr was left as free cash.

FY26: operating cash of ₹165 Cr against reported profit of ₹59.0 Cr, leaving free cash of ₹9.0 Cr after ₹156 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 247% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹165 Cr vs profit ₹59.0 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 10-year window, annual resolution. FY19 reflects an acquisition year — point shown clipped.
247% of 3-year profit arrived as cash
Operating cashNet profitFree cash
24315568−20−108₹ Cr₹165₹59₹9FY17FY21FY26
24315568−20−108₹ Cr₹165₹59₹9FY17FY21FY26
FY26: CFO = 280% of profit (three-year rate 247%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash.
Conversion100%
304%217%131%44%−43%%280%FY17FY21FY26
304%217%131%44%−43%%280%FY17FY21FY26

Why conversion sits at 247%: the cash cycle stretched 29 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.

Router verdict: the bigger cash user is investment — capital spending ran 1.5× depreciation over three years, so the next section's job is to check what that build-out is buying.

→ So follow the cash to where it goes. Next: ₹560 Cr of building over 3 years.

09 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Go Fashion (India) Ltd's cash conversion cycle runs 388 days in FY26, up from 359 days in FY21. Capital spending ran ₹560 Cr over the last 3 years. At FY26 sales of ₹838 Cr each day of that cycle holds about ₹2.3 Cr, so roughly ₹891 Cr sits inside the business at any moment.

FY26: debtors at 46 days, inventory at 376 days — roughly 12.4 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 388 days, looser than FY21's 359.

The full loop: cash goes out to suppliers and production on day 0; stock waits 376 days to sell; customers pay about 46 days after that; and suppliers themselves are paid at 35 days — netting out to the 388-day cycle.

In money terms: at FY26 sales of ₹838 Cr, each day of the cycle holds about ₹2.3 Cr — so the 388-day loop keeps roughly ₹891 Cr sitting inside the business at any moment.

FY26: a 388-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 10-year window.
+29 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
501374248121−6days388d376d46d35dFY17FY19FY21FY23FY26
501374248121−6days388d376d46d35dFY17FY21FY26

On the investment side: capital spending of ₹560 Cr over the last 3 fiscal years against ₹369 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹8.0 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹156 Cr, work-in-progress ₹8.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
a build-out
CapexWork-in-progress
267200133670₹ Cr₹156₹8FY18FY20FY22FY24FY26
267200133670₹ Cr₹156₹8FY18FY22FY26

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 11% and the ROIC − WACC spread is −4.9 pp.

10 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified

Go Fashion (India) Ltd earns a ROCE of 11% in FY26. That is up from a trough of 4% in FY21. Return on invested capital clears the cost of that capital by −4.9 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 7.0% net margin on 0.65× asset turns.

FY26 ROCE is 11%, recovered from a FY21 trough of 4% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY26): 7.0% net margin × 0.65× asset turns × 1.88× balance-sheet leverage ≈ 8.6% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 7.1% − 12.0% = a −4.9 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

FY26: ROCE 11% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 9-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY21's 4%
ROCEROIC (annual)WACC
25%19%14%8.0%2.5%%11%7.6%FY18FY22FY26
25%19%14%8.0%2.5%%11%7.6%FY18FY22FY26
Q4 FY26: ROCE 9.1% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
16%14%12%10%8.6%%9.1%9.8%Q1 FY24Q2 FY25Q4 FY26
16%14%12%10%8.6%%9.1%9.8%Q1 FY24Q2 FY25Q4 FY26

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.77.

11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

Go Fashion (India) Ltd carries total debt of ₹532 Cr against shareholder equity of ₹690 Cr as of Mar 26, a debt-to-equity of 0.77. On the annual view that ratio went from 0.57 in FY22 to 0.77 in FY26. Read the returns elsewhere on this page with that leverage in mind.

Mar 26: total debt of ₹532 Cr against shareholder equity of ₹690 Cr — a debt-to-equity of 0.77. On the annual view, debt-to-equity went from 0.57 (FY22) to 0.77 (FY26). Read the returns on this page with that leverage in mind.

FY26: debt ₹532 Cr at 0.77× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 5-year window.
Total debtDebt-to-equity
5750.80×4310.74×2870.68×1440.61×00.55×₹ Cr×₹5320.77×FY22FY24FY26
5750.80×4310.74×2870.68×1440.61×00.55×₹ Cr×₹5320.77×FY22FY24FY26
Mar 26: debt ₹532 Cr, debt-to-equity 0.77 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 12 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
5780.79×4330.75×2890.72×1440.68×00.64×₹ Cr×₹5320.77×Jun 23Sep 24Mar 26
5780.79×4330.75×2890.72×1440.68×00.64×₹ Cr×₹5320.77×Jun 23Sep 24Mar 26

→ Who owns this, and are they adding or leaving? Next: Foreign institutions cut 9.2 points over 8 quarters.

12 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Foreign institutions cut 9.2 points of Go Fashion (India) Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 3.5% of the company. Domestic institutions moved −5.6 points over the same window, to 25.9%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Foreign institutions: −9.2 points over 8 quarters to 3.5%; Domestic institutions: −5.6 points over 8 quarters to 25.9%; Promoters: +2.7 points over 8 quarters to 55.5%.

🚨 Why the register moved: foreign institutions drove it (−9.2 points), alongside domestic institutions (−5.6 points) — distribution into the market’s bid.

Fiscal-year ends: promoters +1.4 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
58%43%28%13%−1.9%%54.2%4.4%28.4%13.0%Mar 24Mar 25Mar 26
58%43%28%13%−1.9%%54.2%4.4%28.4%13.0%Mar 24Mar 25Mar 26
Foreign institutions cut 9.2 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
60%44%29%13%−2.0%%55.5%3.5%25.9%15.2%Jun 23Dec 24Jun 26
60%44%29%13%−2.0%%55.5%3.5%25.9%15.2%Jun 23Dec 24Jun 26

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

13 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Go Fashion (India) Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

Related companies · same sector · Textiles - Readymade Apparel Every company is compared on the shape of its own curves, not static ratios. The Revenue, EPS and ROCE columns each draw that company's last 12 quarters as a mini line of the ACTUAL level (trailing-twelve-month revenue and EPS, and the ROCE itself) — so a line that climbs is a business getting bigger, a line that sinks is one shrinking. The colour tracks the same line: green when it is rising or steadily healthy, amber when it is rolling over from a high (still elevated but turning down), red when it is falling, grey when flat or stuck. Colour and direction always agree — a green line never points down. The ROCE curve is the return on capital (annual readings for peers, so a slightly coarser line than the quarterly one at the top of this page). The Stage column then runs the same 12-quarter trajectory classifier used at the top of the page on each company and names where it sits. What lands a company in each bucket: CONSISTENT — growth stays positive across the window and returns are healthy (ROCE ≥ 15%, or ROE ≥ 12% for lenders); IMPROVING — profit or EPS fell into real decline, bottomed a few quarters back, and has climbed back to positive and held there; TURNING AROUND — the same kind of trough but more recent, with the latest quarters just lifting off it (an early, unconfirmed turn); TOPPING OUT — growth is still positive but decelerating hard from its own peak while returns have stopped rising; DETERIORATING — two or more growth curves are shrinking (latest below zero) and staying there, not one soft quarter; MIXED — the curves genuinely disagree, or no clean majority, so no single word fits; NO READ — fewer than eight usable quarters. It is a like-for-like read of every company against its own past, not a ranking against the group.
CompanyP/EMkt capRevenueEPSROCEStage
Go Fashion (India) Ltd this page28.8×₹1,705 CrDeteriorating
Trent Ltd89.3×₹1.5L CrConsistent
Vishal Mega Mart Ltd56.7×₹50,609 CrNo read
Aditya Birla Lifestyle Brands Ltd54.9×₹11,474 CrNo read
Vedant Fashions Ltd24.3×₹9,775 CrTurning around
Pearl Global Industries Ltd33.2×₹9,119 CrMixed
V2 Retail Ltd56.0×₹7,996 CrNo read
Aditya Birla Fashion & Retail Ltd₹6,865 CrNo read
Arvind Fashions Ltd47.2×₹6,182 CrTurning around
Gokaldas Exports Ltd60.8×₹6,085 CrMixed
V-Mart Retail Ltd41.6×₹5,764 CrNo read
Raymond Lifestyle Ltd39.6×₹4,356 CrNo read
Lux Industries Ltd34.0×₹3,689 CrMixed
Kewal Kiran Clothing Ltd21.8×₹3,095 CrMixed
Kitex Garments Ltd293.0×₹2,933 CrDeteriorating
S P Apparels Ltd25.0×₹2,521 CrMixed
Baazar Style Retail Ltd97.0×₹2,134 CrNo read
Cantabil Retail India Ltd21.0×₹2,006 CrMixed
SBC Exports Ltd79.3×₹2,003 CrConsistent
SBC Exports Ltd58.3×₹1,541 CrTurning around
Sai Silks (Kalamandir) Ltd9.9×₹1,356 CrMixed
Monte Carlo Fashions Ltd9.9×₹1,114 CrNo read
Iris Clothings Ltd56.2×₹910 CrConsistent
Karnika Industries Ltd25.0×₹700 Cr
Credo Brands Marketing Ltd7.8×₹542 CrTopping out
Thomas Scott India Ltd21.0×₹369 CrMixed
Bella Casa Fashion & Retail Ltd16.6×₹330 CrMixed
12 · Frequently asked questions

Frequently asked questions

What is Go Fashion (India) Ltd's share price today?

Go Fashion (India) Ltd trades at ₹349, −60.7% over the past year. The company is valued at ₹1,705 Cr. The stock sits at 19% of its 52-week range of ₹257–₹739, −19.2% versus its 200-day average. On the tape, the price is in a downtrend, 83 weeks in. — as of 24 July 2026.

What were Go Fashion (India) Ltd's latest quarterly results?

Go Fashion (India) Ltd reported revenue of ₹196 Cr and net profit of ₹8.0 Cr for the Mar 26 quarter. Revenue fell 4.2% and profit fell 60.0% year on year. Earnings per share were ₹1.51. The operating margin was 25.3%, 5.2 pp lower than a year earlier. — as of 24 July 2026.

What is Go Fashion (India) Ltd's revenue?

Go Fashion (India) Ltd reported revenue of ₹196 Cr in the Mar 26 quarter, −4.2% year on year. For the full FY26 fiscal year, revenue was ₹838 Cr (−1.2%). Over the last 9 years revenue compounded at 24.8% a year. — as of 24 July 2026.

What is Go Fashion (India) Ltd's profit?

Go Fashion (India) Ltd earned ₹8.0 Cr of net profit in the Mar 26 quarter, −60.0% year on year. Full-year FY26 profit was ₹59.0 Cr. The operating margin ran 25.3% in the latest quarter. — as of 24 July 2026.

What is Go Fashion (India) Ltd's market cap?

Go Fashion (India) Ltd's market capitalisation is ₹1,705 Cr at a share price of ₹349. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.

What is Go Fashion (India) Ltd's P/E ratio?

Go Fashion (India) Ltd trades at a P/E of 28.8×, at the 10th percentile of its own 4-year range, against a long-run median of 67.3×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.

Does Go Fashion (India) Ltd pay a dividend?

No — Go Fashion (India) Ltd has recorded a dividend payout of 0% of profit in each of its last 10 reported fiscal years, so there is no payout history to quote. That is a reading of the filed annual statements, not an estimate. — as of 24 July 2026.

Is Go Fashion (India) Ltd overvalued?

On its own history, Go Fashion (India) Ltd looks cheap against its own history: its P/E of 28.8× has been cheaper only 10% of the time in 4 years (long-run median 67.3×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.

Is Go Fashion (India) Ltd growing?

Not right now — Go Fashion (India) Ltd's latest numbers are shrinking: latest-quarter revenue −4.2% year on year, profit −60.0%, and the margin −5.2 pp at 25.3%. The 9-year compound rates are 24.8% (revenue) and 24.9% (profit). The earnings engine currently reads: deteriorating — as of 24 July 2026.

How is Go Fashion (India) Ltd performing?

Go Fashion (India) Ltd is in a downtrend, 83 weeks in. Its latest quarter's revenue fell 4.2% and profit fell 60.0% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 12 weeks. This describes what the data did, not a rating. — as of 24 July 2026.

What stage is Go Fashion (India) Ltd in?

Deteriorating — revenue and profit growth are shrinking (revenue growth −4.2% latest (single-quarter readings) against +15.8% at its 12-quarter best), ROCE slipping at 11.0%. The read comes from the last 12 quarters of growth (revenue growth −4.2% latest, profit growth −60.0% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.

Is Go Fashion (India) Ltd in an uptrend?

No — the price is in a downtrend (week 83 of stage 4), trading −19.2% versus its 200-day average and at 19% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.

Is Go Fashion (India) Ltd beating the market?

On recent form, yes — Go Fashion (India) Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 12 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 4.6 years the stock moved −72% against the NIFTY 500's +55% — behind the index over the full window. — as of 24 July 2026.

Will Go Fashion (India) Ltd's share price go up?

This page publishes no price forecast for Go Fashion (India) Ltd. What it measures instead: the share price is ₹349, the price is in a downtrend 83 weeks in. Its P/E of 28.8× sits at the 10th percentile of its own 4-year range. — as of 24 July 2026.

Who owns Go Fashion (India) Ltd?

Promoters hold 55.5% of Go Fashion (India) Ltd, foreign institutions 3.5%, domestic institutions 25.9% and the public 15.2% (latest quarter). The biggest move on the register over the last two years: Foreign institutions cut 9.2 points over 8 quarters. — as of 24 July 2026.

Does Go Fashion (India) Ltd have too much debt?

It is moderate — Go Fashion (India) Ltd's debt-to-equity is 0.77, and operating profit covers the interest bill 5×. FY26 borrowings were ₹532 Cr against equity of ₹691 Cr. Read the returns on this page with that leverage in mind — as of 24 July 2026.

What is Go Fashion (India) Ltd's capex?

Go Fashion (India) Ltd spent ₹560 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹156 Cr, with ₹8.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.

What is Go Fashion (India) Ltd's cash flow?

Go Fashion (India) Ltd generated ₹165 Cr of operating cash flow in FY26 and ₹9.0 Cr of free cash flow after ₹156 Cr of capital spending. Reported profit that year was ₹59.0 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 24 July 2026.

Is Go Fashion (India) Ltd's profit real cash?

Yes — over the last 3 fiscal years, 247% of Go Fashion (India) Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹165 Cr against reported profit of ₹59.0 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 24 July 2026.

Where is Go Fashion (India) Ltd in its business cycle?

Go Fashion (India) Ltd's FY26 operating margin was 28.0%, against a 10-year band of 14.0%–33.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 25.3%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.

What could break the Go Fashion (India) Ltd story?

The sharpest disagreement: annual EPS moved −35.0% against a −60.7% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.

Is Go Fashion (India) Ltd a stock worth studying right now?

This is not investment advice. The machine read: Go Fashion (India) Ltd is cheap for a reason. The P/E sits at the 10th percentile of its own range, and the quarters are still getting worse. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.

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