Apparels & Accessories company Go Fashion (India) announced Q1FY25 results: Financial Highlights: Revenue from Operations: Rs 220 crore, up by 16% YoY Gross Profit: Rs 136 crore, up by 17% YoY EBITDA: Rs 72 crore, up by 12% YoY Profit After Tax (PAT): Rs 29 crore, up by 9% YoY Business Highlights: Average Selling Price for Q1FY25 stood at Rs 777 Sales Mix for Q1FY25 EBO : 69.4%; LFS : 25.6%; Online : 3.2%; MBO & Others : 1.9% Same Store Sales Growth (SSSG) for EBOs remained flat at +0.2% for Q1FY25 Same Cluster Sales Growth (SCSG) for EBOs stood at 8.3% for Q1FY25 as compared to Q1FY24 Full Price Sales was 97% for Q1FY25 No. of EBOs added during Q1FY25 are 20 Stores on a Net Basis Total EBOs as on 30th June 2024 stood at 734 stores Working Capital Days as on 30th June 2024 stands at 113 days as compared to 124 days as on 31st March 2024. Inventory Days stand at 87 days and have reduced by 17 days compared to March 2024. Cash Flow from Operations (OCF) OCF (Post IND-AS 116) for Q1FY25 stood at Rs 62 crore as compared to Rs 49 crore for Q1FY24 OCF (Pre IND-AS 116) for Q1FY25 stood at Rs 32 crore as compared to Rs 25 crore for Q1FY24 RoCE stood at 24.2%; RoE stood at 19.0% for Q1FY25 Cash & Cash Equivalents stood at Rs 220 crore as on 30th June 2024 Commenting on the Result, Gautam Saraogi, CEO, Go Fashion (India) Limited said, “Despite industry-level challenges, we began the year on a strong footing, achieving a 16% Y-o-Y growth in Revenues, reaching Rs 220 crore. Our EBITDA increased by 12% Y-o-Y, standing at Rs 72 crore. Our PAT for Q1FY25 stood at Rs 29 crore which grew by 9%. Retail footfalls in India declined due to the elections and an intense heat wave. Despite these short-term challenges, we have maintained a full price sales ratio of 97%. This demonstrates the resilience of our products even in tough market conditions. Our capability to serve a highly diverse customer base and act as a one-stop solution for bottom wear gives us a competitive edge. We continue to manage our inventory effectively, leading to a further reduction in our warehouse inventory levels. As a result, our inventory days have reduced by 17 days from 104 days in March’24 to 87 days in June’24. We strongly believe in sustainable growth backed by cash flows. Against this backdrop, we achieved a strong Pre IND-AS 116 Operating Cash Flow of Rs 32 crore in June 24. Going forward, we aim to convert 60% of our EBITDA to Operating Cash Flows. In Q1FY25, we successfully added 20 net new stores to our portfolio, increasing our total store count to 734. We are optimistic about our continued store expansion efforts and aim to open between 120 and 150 new stores during FY25. Our tie up with the Apparel Group in the Middle East is on track and the first store should open in this financial year. The strategic expansion plan will see Apparel Group leverage its extensive retail expertise to introduce Go Colors’ diverse range of products to a new audience, looking to fulfill the growing demand for versatile and fashionable bottom wear across the GCC. We have started to witness positive SSSG during the month of June and we are hopeful that this momentum should continue into the months going forward. We look forward to continuing our innovative and creative approach and launch more designs while providing more brand destinations for our consumers which will help us grow and gain market share in the coming years. Result PDF