EBITDA stood at Rs 64.2 crore, registering the growth of 21% as compared with Rs 53.1 crore posted corresponding quarter last year. EBITDA margin was at 33.8% in Q1 FY24 as against 32.1% in Q1 FY23.

Same Store Sales Growth (SSSG) for Exclusive Brand Outlet (EBOs) stood at 2% for Q1 FY24.

During Q1 FY24, total 25 EBOs stores added on net basis. As on 30 June 2023 total EBOs stood at 655 stores. Cash & Cash Equivalents stood at Rs 147.7 crore as on 30th June 2023.

Gautam Saraogi, CEO, Go Fashion (India), said, “In Q1 FY24, the company has net added 25 new stores. This expansion aligns with our aim to bring our products and services closer to the consumer, enhancing accessibility and convenience. To further enhance the customer experience, we are also exploring omnichannel engagements, leveraging technology to create a seamless shopping journey that transcends physical and online boundaries, reaching consumers across various cities.

As part of our commitment to operational efficiency, we have been working on optimizing our working capital. We have successfully reduced inventory days by 19 during the last quarter. This approach has not only streamlined our operations but has also led to the generation of positive operating cash flows.

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 at more than 20% CAGR and gain market share in the coming years.”

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 655 EBOs and around 1,822 large format stores.