Slides
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Investor Presentation October 2026
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Go Fashion (India) Limited This presentation has been prepared by and is the sole responsibility of Go Fashion (India) Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form part of any offer or invitation or inducement to sell or issue, or any solicitation of any offer or recommendation to purchase or subscribe for, any securities of the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment thereof. In particular, this presentation is not intended to be a prospectus or offer document under the applicable laws of any jurisdiction, including India. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. There is no obligation to update, modify or amend this communication or to otherwise notify the recipient if the information, opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate. Certain statements contained in this presentation that are not statements of historical fact constitute “forward-looking statements.” You can generally identify forward looking statements by terminology such as “aim”, “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “objective”, “goal”, “plan”, “potential”, “project”, “pursue”, “shall”, “should”, “will”, “would”, or other words or phrases of similar import. These forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or other projections. Important factors that could cause actual results, performance or achievements to differ materially include, among others: (a) our ability to successfully implement our strategy, (b) our growth and expansion plans, (c) changes in regulatory norms applicable to the Company, (d) technological changes, (e) investment income, (f) cash flow projections, and (g) other risks. This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. The Company may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such change or changes. Safe Harbor 2
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Q2 & H1 FY27 Business & Financial Highlights
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Go Fashion (India) Limited Q2 FY27 Financial Highlights 4 Revenue (EBO) Revenue from Operations Revenue (LFS) Revenue (Online) Revenue (MBO & Others) Rs. 154 crores (0% YoY) Gross Profit Profit After TaxGross Profit Margins EBITDA* (before Excp. Items) EBITDA Margins Rs. 51 crores (-15% YoY) Rs. 8 crores (+41% YoY) Rs. 5crores (+8% YoY) Rs. 132 crores (-6% YoY) 60.8% (-180 bps) Rs. 56 crores (-18% YoY) 25.8% (-460 bps) Rs. 9 crores (-59% YoY) Retail Space added during the Q2 FY27 0% Full Price Sale (% of EBO Sales) Same Store Sales Growth (SSSG) Same Cluster Sales Growth (SCSG) 21,236 sq. ft. Approach has been to open bigger stores and to enlarge existing outlets whenever adjacent space opens up 93% -0.2% Rs. 218 crores (-3% YoY) * The exceptional expense of Rs. 3.4 crore during the quarter pertains to the write-off of capital expenditure on account of store closures undertaken in line with the Company's strategy to optimize its store network
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Go Fashion (India) Limited H1 FY27 Financial Highlights 5 Revenue (EBO) Revenue from Operations Revenue (LFS) Revenue (Online) Revenue (MBO & Others) Rs. 315 crores (+1% YoY) Gross Profit Profit After TaxGross Profit Margins EBITDA* (before Excp. Items) EBITDA Margins Rs. 101 crores (-7% YoY) Rs. 16 crores (+20% YoY) Rs. 9 crores (-34% YoY) Rs. 272 crores (-3% YoY) 61.8% (-100 bps) Rs. 123 crores (-10% YoY) 28.0% (-260 bps) Rs. 25.5 crores (-42% YoY) Retail Space added during the H1 FY27 Average Selling Price (ASP) +0.5% Full Price Sale (% of EBO Sales) Same Store Sales Growth (SSSG) Same Cluster Sales Growth (SCSG) 14,220 sq. ft. Rs. 827/- 93% +0.2% Rs. 440 crores (-1% YoY) * The exceptional expense of Rs. 9.9 crore during the period pertains to the write-off of capital expenditure on account of store closures undertaken in line with the Company's strategy to optimize its store network
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Go Fashion (India) Limited 6 Working Capital Days In Days Cash Flow from Operations 51.3 52.6 H1 FY27 Pre IND-AS EBITDA H1 FY27 Pre IND- AS Cashflow Pre IND-AS 116 Cashflow to EBITDA Comparison Rs. Crs. RoCE* 8.9% RoE* 6.7% Cash & Cash Equivalents^ Rs. 211 Crs. ^ Includes Mutual Funds & FD’s * ROCE and ROE are calculated without taking the Impact of IND-AS 116 134135 99 100 94 52 49 52 16 10 12 Sep-25 Jun-26 Sep-26 Inventory Debtors Creditors 139 ~103% of EBITDA to Cashflow Conversion Strong Cash Flow & Balance Sheet
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Go Fashion (India) Limited Q2 FY27 Profit & Loss Statement 7 Profit & Loss (in Rs. Crore) Q2 FY27 Q2 FY26 YoY (Reported)Reported Ind-AS 116 Impact Pre Ind-AS 116* Reported Ind-AS 116 Impact Pre Ind-AS 116* Total Revenue 217.6 217.6 224.2 224.2 (3%) Cost of Goods Sold 77.5 77.5 71.4 71.4 Subcontracting Charges 7.9 7.9 12.4 12.4 Gross Profit 132.2 132.2 140.3 140.3 (6%) Gross Margin 60.8% 60.8% 62.6% 62.6% Employee Cost 46.2 46.2 45.7 45.7 Rent Expense 2.5 36.0 38.5 2.6 34.7 37.3 Other Expenses 27.5 27.5 24.0 24.0 EBITDA (before Excp. Items) 56.0 20.0 68.1 33.4 (18%) EBITDA Margin (before Excp. Items) 25.8% 9.2% 30.4% 14.9% Exceptional Expense 3.4 3.4 1.4 1.4 EBITDA 52.6 16.6 66.6 32.0 (21%) EBITDA Margin 24.2% 7.6% 29.7% 14.3% Other Income 6.4 2.6 3.9 7.3 2.9 4.4 Depreciation 34.7 28.1 6.5 32.8 27.7 5.1 EBIT 24.4 14.0 41.2 31.3 Finance Cost 12.3 12.3 -0.0 12.2 12.2 0.0 Profit Before Tax 12.1 14.0 29.0 31.3 (58%) Tax 3.2 3.2 7.2 7.2 PAT 9.0 10.8 21.8 24.1 (59%) PAT Margin 4.1% 5.0% 9.7% 10.8% EPS (in Rs.) 1.70 2.05 4.04 4.58 Figures in accordance with Ind AS ✓ With key festivals shifting into Q3, the bulk dispatches to our LFS partners that typically take place ahead of the festive season moved into October. As a result, revenue from operations for the quarter had a slight decline of 3% to Rs. 218 crores. ✓ Gross Margin for the quarter stood at 60.8%. The decline in GP Margins was on account of higher raw material prices, with fabric costs rising due to the geopolitical situation. We intend to pass on the raw material inflation through calibrated pricing actions, which should help restore gross margins progressively over the coming quarters. ✓ The exceptional expense of Rs. 3.4 crore during the quarter pertains to the write-off of capital expenditure on account of store closures undertaken in line with the Company's strategy to optimize its store network
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Go Fashion (India) Limited H1 FY27 Profit & Loss Statement 8 Profit & Loss (in Rs. Crore) H1 FY27 H1 FY26 YoY (Reported)Reported Ind-AS 116 Impact Pre Ind-AS 116* Reported Ind-AS 116 Impact Pre Ind-AS 116* Total Revenue 440.4 440.4 447.0 447.0 (1%) Cost of Goods Sold 151.53 151.5 142.7 142.7 Subcontracting Charges 16.56 16.6 23.6 23.6 Gross Profit 272.3 272.3 280.6 280.6 (3%) Gross Margin 61.8% 61.8% 62.8% 62.8% Employee Cost 90.9 90.9 89.9 89.9 Rent Expense 5.3 72.2 77.5 5.8 68.4 74.2 Other Expenses 52.7 52.7 47.8 47.8 EBITDA (before Excp. Items) 123.4 51.3 137.1 68.7 (10%) EBITDA Margin (before Excp. Items) 28.0% 11.6% 30.7% 15.4% Exceptional Expense 9.9 9.9 1.7 1.7 EBITDA 113.6 41.4 135.4 67.0 (16%) EBITDA Margin 25.8% 9.4% 30.3% 15.0% Other Income 14.8 8.3 6.5 12.5 3.9 8.6 Depreciation 69.3 56.3 13.0 65.1 54.6 10.5 EBIT 59.1 34.9 82.8 65.1 Finance Cost 25.0 24.9 0.1 24.1 24.1 0.0 Profit Before Tax 34.2 34.9 58.7 65.1 (42%) Tax 8.7 8.7 14.6 14.6 PAT 25.5 26.1 44.1 50.5 (42%) PAT Margin 5.8% 5.9% 9.9% 11.3% EPS (in Rs.) 4.84 4.84 8.16 9.34 Figures in accordance with Ind AS
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Go Fashion (India) Limited Figures in accordance with Ind AS Historical Balance Sheet Statement 9 EQUITY AND LIABILITIES (Rs. Crs.) 30-Sep-26 31-Mar-26 Equity Share Capital 52.6 52.6 Other Equity 663.1 637.7 Total Equity 715.7 690.3 Liabilities Non Current Liabilities Lease liabilities 431.7 422.4 Provision 9.4 7.8 Total Non Current Liabilities 441.2 430.2 Current Liabilities Borrowings 0.0 0.0 Lease liabilities 97.9 110.1 Trade payables 28.9 24.8 Other financial liabilities 26.4 23.5 Current tax liabilities (net) 2.9 4.3 Other current liabilities 17.2 11.2 Provisions 1.4 1.4 Total Current Liabilities 174.7 175.2 TOTAL EQUITY & LIABILITIES 1,331.6 1,295.6 ASSETS (Rs. Crs.) 30-Sep-26 31-Mar-26 Non Current Assets Property, plant and equipment 116.2 119.9 Capital work-in-progress 8.0 8.3 Intangible assets 0.5 0.6 Right-of-use assets 460.3 463.2 Financial Assets 17.6 Other financial asset 42.8 67.5 Deferred tax assets (net) 38.6 36.8 Other non-current assets 14.4 0.8 Total Non-Current Assets 698.3 697.1 Current Assets Inventories 226.4 268.7 Financial Assets Investments 20.1 3.2 Trade receivables 125.8 105.7 Cash and cash equivalents 8.8 13.1 Bank balances other than cash 164.8 141.6 Other financial asset 16.1 14.5 Current tax assets (net) 0.0 0.0 Other current assets 71.2 51.8 Total Current Assets 633.2 598.5 TOTAL ASSETS 1,331.6 1,295.6
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Go Fashion (India) Limited 10 Cash Flow Statement (in Rs. Crore) H1 FY27 H1 FY26 Net Profit Before Tax 34.2 58.7 Adjustments for: Non - Cash Items / Other Investment or Financial Items 89.7 78.8 Operating profit before working capital changes 123.9 137.5 Changes in working capital 13.4 (24.7) Cash generated from Operations 137.3 112.8 Direct taxes paid (net of refund) (11.8) (17.7) Net Cash from Operating Activities 125.5 95.1 Net Cash from Investing Activities (61.3) (23.9) Net Cash from Financing Activities (73.0) (67.9) Net Decrease in Cash and Cash equivalents (8.8) 3.3 Add: Cash & Cash equivalents at the beginning of the period 17.6 16.1 Cash & Cash equivalents at the end of the period 8.8 19.4 Cash & Cash equivalents at the end of the year including Mutual Funds & FDs 211.4 258.7 CASH FLOW STATEMENT Figures in accordance with Ind AS
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Go Fashion (India) Limited Product Mix Evolution in Line with Changing Fashion Preferences 11 58% 42% Churidar & Leggings Other Value Added Products FY19 FY25 H1 FY27 38% 62% 30% ~70% Industry Evolution, Brand Evolution Bottom wear industry has undergone a significant transformation, and Go Colors has consistently evolved alongside it ~70% Value Added Bottoms Portfolio mix has shifted decisively, with non- leggings products now contributing ~70% of revenues Diversified & Future-Ready Portfolio Continue to strengthen and diversify the product offering to stay aligned with emerging market trends and evolving consumer preferences
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Go Fashion (India) Limited Strengthening Product Relevance Through New Collection Launches 12 Blue Denim Skirt Cargo Pants Cargo Sweat Pants Parachute Pants Denim Cargo Pants
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Go Fashion (India) Limited Reimagining the In-Store Experience Through Larger EBOs 13 Example 1 : City in Rajasthan Example 2: City in Maharashtra 304 sq. ft. 194 sq. ft. 908 sq. ft. 279 sq. ft. 304 sq. ft. 976 sq. ft. Added ~43,283 sq. ft. to the store network over the last year, ~11% growth, largely driven by expansion of larger EBO stores FY26: 4.34L sq. ft. FY25: 3.90L sq. ft. Strategic focus on enhancing customer experience through 700+ sq. ft. EBO stores. Larger stores enable full inventory display and a stronger and more seamless in-store shopping experience Over the next five years, the company aims to significantly expand its footprint, with potential to nearly double retail area, supporting revenue maximization and cost optimization. ✓ ✓ ✓
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Company Overview
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Go Fashion (India) Limited 15 50+ styles of bottom wear in 120+ colours. ‘If it is anything to do with bottomwear, don’t look beyond Go Colors.’ One-stop destination for all women’s bottom wear Among the largest Women Bottom Wear (WBW) brands in India with ~8% market share in branded WBW Customers catered primarily through 737 EBOs spread across 23 states and UTs and 2,547 LFSs across 31 states and UTs Extensive sourcing and manufacturing network of 168 suppliers and 70 job- workers spread across 18 states and UTs Premium quality products at affordable prices, 75.0% of products retailed at < Rs. 1,049 Supply chain for all channels managed from 144K sq. ft. warehouse in Tirupur, Tamil Nadu and 12K sq. ft. warehouse in Bhiwandi, Maharashtra. End-to-end automation in inventory operations resulting in optimal inventory management ✓ ✓ ✓ ✓ ✓ We Are A Direct-to-Consumer Brand
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Go Fashion (India) Limited Well Diversified Product Portfolio 16 Ethnic Wear Churidar Patiala Kurti-Pants Western Wear Leggings Cropped Jegging Jeans Cargo Pants Trousers Ponte Pants Track Pants Culottes Treggings Shorts Fusion Wear Jeggings Palazzos Pants Harem-Pants Athleisure Leggings Track Pants Joggers Salwar Silk-Pants Dhoti From ₹ 599 to ₹ 1,399 (1) From ₹ 499 to ₹ 1,399 (1) From ₹ 599 to ₹ 1,599 (1) From ₹ 799 to ₹ 1,199 (1) Note: (1) Typical Range of Offering: Maximum Retail Price
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Go Fashion (India) Limited Well Diversified Product Portfolio 17 Denims Jeggings Joggers Jeans Denim Palazzos Lounge Wear Lounge Pants Lounge Knit Pants Lounge Capris Lounge Shorts Go Plus Churidars Leggings Jeggings Pants Palazzos Girls Wear Pants Shorts Harem- Pants Pants Denim Culottes Capris Leggings Jeggings Palazzos From ₹ 799 to ₹ 1,499 (1) From ₹ 449 to ₹ 949 (1) From ₹ 599 to ₹ 1,599 (1) From ₹ 249 to ₹ 999 (1) Note: (1) Typical Range of Offering: Maximum Retail Price
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Go Fashion (India) Limited 18 EBO Stores + Airport Stores + LFS Stores Standardized Store Designs And Layouts To Make Brand “Go Colors” Readily Identifiable
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Go Fashion (India) Limited Go Colors: Daily Wear Concept 19 Linking Road (Mumbai) AS Rao Nagar (Hyderabad) Anna Nagar (Chennai) 21 Stores Women Bottom Wear + Women's Top Wear + Men's Wear
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Key Differentiators
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Go Fashion (India) Limited Our Key Strengths 21 Among the Largest Women’s Bottom-Wear Brand in India with Well-Diversified & Differentiated Product Portfolio and First Mover Advantage Multi-Channel, Pan-India Distribution Network with a Focus on EBOs, Enhancing Brand Visibility Strong Unit Economics with an Efficient Operating Model Extensive Procurement Base with Highly Efficient and Technology-Driven Supply Chain Management In-House Expertise in Developing and Designing Products Demonstrated Track Record of Strong Financial Performance
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Go Fashion (India) Limited Direct To Consumer Brand With An Extensive Distribution Network Across India 22 EBO Stores 737 Cities Present 196 Large Format Stores 2,547 Cluster-based model 54.4% Malls & Airports (196) High Streets (540) International (1) EBOs across top 8 cities 128 562 59 520 343 1139 206 326 N N Number of EBO Number of LFS Sales Mix Diversified presence across geographies 131 270 57 164 99 15 141 425 210 663 707 401 Top 2 Cities Next Six Cities Remaining Tier I Cities Tier II Cities Tier III Cities Tier IV Cities #EBO #LFS As on 30th September 2026 Map not to scale 71.4% 23.0% 3.7% 1.9% EBOs LFS Online MBO & Others
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Go Fashion (India) Limited Continuous Increase Of EBO Presence Pan India 23 503 737 133 107 104 80 FY22 -6 FY23^ -23 FY24^ -42 FY25^ -54 FY26^ 24 -89 H1 FY27 TOTAL 127 84 62 26 -65 New EBO Stores Opened Closed during the period ^ FY23, FY24, FY25 & FY26 stores are net of replacements Strategic focus on enhancing customer experience through 700+ sq. ft. EBO stores. Larger stores will enable full inventory display and a more seamless in-store shopping experience No. of EBO Stores (#) Retail Area Addition (in Sq. Ft.) 3,90,697 4,33,979 4,48,199 FY25 FY26 Sep’26 +11% +3% Over the next five years, the company aims to significantly expand its footprint, with potential to nearly double retail area, supporting revenue maximization and cost optimization.
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Go Fashion (India) Limited Continuous Increase in Cities across India 24 121 196 22 17 20 15 FY22 FY23 FY24 FY25 FY26 1 H1FY27 Total Addition of 75 cities over 4 years ✓ Focus on establishing additional EBOs across Tier 2 and Tier 3 cities ✓ Deepen presence in existing geographies & grow our network in newer geographies PAN India New Cities PAN India
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Go Fashion (India) Limited Enhancing Brand Visibility And Recall Value Of ‘Go Colors’ Brand 25 Store at high footfall location with large external hoardings Standardized visual designs and layout of the store Advertisement Cost as % of Revenue Prudent use of resources to undertake brand-building initiatives and gain visibility FY25 FY26 H1 FY27 2.00% 2.90% 2.90% Advertisement Cost to remain ~2% - 3% of Revenue Go Fashion Partners with Shraddha Kapoor as Brand Ambassador from July’26. This initiative will generate stronger customer traction and improved store-level performance Go Colors utilizes its EBOs as its primary advertising channel Outdoor marketing initiatives include leveraging advertisements through large hoardings at vantage points, bus shelters and metro pillars Situated in locations with significant footfalls, increasing brand visibility and enhancing brand equity and recall Significant importance on digital marketing by creating frequent consumer generated content uploaded across social media platforms
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Go Fashion (India) Limited Strong Unit Economics Leading To An Efficient Operating Model 26 Efficient Space Utilization offers one of the highest sales per square foot in the industry Average Store Size (Sq. ft.) ~608 sq. ft. Average Selling Price ₹827/- Presence Across 196 cities Full Price Sale (% of EBO Sales) 93% Total Square Feet 4,48,199 sq. ft. Average Investments for 1 EBO store (Incl. Inventory) ₹37-38 Lakh Payback Period ~15-18 months Average Yearly Revenue Per Store ₹85-90 Lakh • Store location and size optimized, ensuring the sustainability of store profitability • Ability to identify the stores at the right location and limited store closures resulted in healthy SSSG • Product portfolio resistant to redundancy from vagaries of fashion trends and seasonality (round-the-year relevance) • Given that bottom-wear is a ‘core essential’, demand for our products is consistent which results in limited discounting and higher full-price sales
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Go Fashion (India) Limited Sourcing Team Outsourced Manufacturing Centralized Warehouse Supply Chain Automation ➢ Sourcing team closely monitors suppliers and provides strict quality assurance analysis ➢ Regular inspections of fabrics sourced from suppliers helps consistently maintain product and service quality ➢ Stringent norms of quality assurance at various levels through quality control mechanisms ➢ Track suppliers’ capacity and output to ensure production requirements are met and finished products are procured in a timely manner ➢ Entire procurement and supply chain operation automated through ERP system ➢ Helps maintain flexibility while meeting requirements in an efficient manner without relying on any one vendor, supplier or factory ➢ Procurement needs streamlined avoiding over or under-stocking ➢ SCMS & internal controls minimize product shortage and occurrence of out-of-stock events enabling efficient operations and high productivity ➢ Inventory, logistics and entire supply chain for all channels managed from warehouse in Tirupur, Tamil Nadu ➢ Warehouse spread over >144k square feet & 12K sq. ft. warehouse in Bhiwandi, Maharashtra ➢ Implemented end-to-end automation in inventory operations resulting in seamless and optimal inventory management ➢ Implemented business intelligence tool for inventory optimization, avoiding stock-out and ensuring sufficient supply at stores ➢ Manage an extensive sourcing network to support product development teams ➢ 168 suppliers and 70 job-workers spread across 18 states and UTs ➢ Longstanding relationship with suppliers and job-workers ➢ Work closely with suppliers, supervising manufacturing and conducting inspections for quality checks 27 Extensive Procurement Base With Highly Efficient And Technology Driven Supply Chain Management
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Go Fashion (India) Limited 28 In-House Design Forecasting Data Analytics • Concept development and trend forecasting to develop new styles and products • Participate in fairs or exhibitions in India or abroad to better understand trends • Address evolving market trends and customers’ preferences • Skilled team of 25 in-house designers and merchandisers • Focus on creating quality products with innovative designs and optimal fit / sizing • Products designed keeping in mind trends in fashion, fabric, textiles, wear ability, stitch and pricing • Products designed for every occasion including for daily wear, office wear, festive, denim and lounge wear • Product launches based on ERP generated business intelligence reports • Research and data-driven design process • Product design and development based on market research and customer feedback In-house Expertise In Developing And Designing Products
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Go Fashion (India) Limited Senior Management Team 29 Mr. Prakash Kumar Saraogi Managing Director Mr. Gautam Saraogi Executive Director and CEO Mr. R Mohan Chief Financial Officer • Promoter of Go Fashion (India) Limited • >30 years of experience in garment manufacturing, the fashion industry, and retail industry • Holds a bachelor’s degree in chemical engineering from Anna University, Chennai • Promoter of Go Fashion (India) Limited • >12 years of experience in consumer retail, marketing, brand building and garment manufacturing • Holds a bachelor’s degree in commerce from University of Madras and an executive diploma in marketing management from Loyola Institute of Business Administration, Chennai • Has received a token of appreciation for his contribution to the Chennai Retail Summit 2018 • Chartered Accountant by profession and has been associated with our Company since 2019 • Holds a bachelor’s degree in commerce from Bharathiar University and is a member of the ICAI since 1991 • Served as the chairman of the Coimbatore Branch of Institute of Chartered Accountant India from 2000 to 2001 • Member of economic affairs and taxation panel of Confederation of Indian Industry, Coimbatore from 2016 to 2017
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Go Fashion (India) Limited 30 Continue to Expand Retail Network with a Focus on EBO’s Grow Sales Through Online Channel 1 2 3 Leverage Technology to Bring Cost Efficiency and Enhance Customer Experience 4 Leverage Leadership Position in Women’s Bottom-Wear Company Strategies
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Go Fashion (India) Limited 1. Continue To Expand Retail Network With A Focus On Larger EBO’s 31 Growth Strategies Follow the COCO Model to ensure better operational control Focus on establishing additional Larger EBOs (700+ sq.ft.) across Tier 2 and Tier 3 cities Grow network in existing geographies i.e., deepen penetration in south and west regions Add additional stores in the north and east regions with a focus on developing presence Selectively expand presence across LFS PAN India Over the next five years, the company aims to significantly expand its footprint, with potential to nearly double retail area, supporting revenue maximization and cost optimization 1 EBO Store Average Investment Rs. 37 - 38 Lakhs Payback period 15 – 18 months Increased Revenue through EBO’s ~80% Revenues through EBO’s in the coming few years Reduced Working Capital Requirement Increased Cash Flow generation through increasing revenues from EBO’s No external funding required for growth in business for coming years Leading to a Healthy & Sustainable Business Model Increased Profitability + Better Return Ratios
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Go Fashion (India) Limited 32 Growth in India E-tailing Increased internet penetration Increased smart phone usage Convenient payment & return policies Higher discounts through online channels COVID-19 induced a faster pace of adoption of online purchase Sales from online channels for Go Fashion is Rs. 25.3 crores in FY26 (3.0% of Sales) Build an omni-channel engagement experience for customers Dedicated team for e-commerce operations Increase online presence by improving and upgrading website Invest in content generation to build engagement with a younger audience Create personalized journeys for customers Further strengthen online sales channels through investments in digital channels Growth Strategies 2. Growth Through Online Channel
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Go Fashion (India) Limited 3. Leverage Technology 33 Leverage Technology to Bring Cost Efficiency and Enhance Customer Experience Improve operating efficiency and ensure efficient supply chain management through global best practices Invest in IT infrastructure to improve productivity and time savings Expand and upgrade warehouse to optimize inventory and supply management Strategically expand warehouse operations and implement new technologies to improve customer buying experience with faster dispatches Undertake data analytics to better understand customer preferences, improve sales and scale operations
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Go Fashion (India) Limited 4. Positioned in a Faster-Growing Category with Structural Formalisation Tailwinds 34 Rs. 1,477 Bn Women's Apparel Market Rs. 139 Bn Women’s Bottom Wear Market Rs. 4,029 Bn Rs. 484 BnFY19 WBW Market Women’s Apparel Market FY29 Go Colors is Present at a right spot to growth faster than the Industry… With a Shift from Unbranded to Branded playing an important Role 50% 42% 41% 33% 50% 58% 59% 67% FY29P FY24 FY23 FY19 Branded Unbranded 242 109 95 46 Branded Market size (INR Bn.) Branded Bottom Wear Market Grew at a CAGR of 18% Women’s bottom wear is a structurally faster- growing segment within the overall women’s apparel market, driven by higher wardrobe penetration, increasing usage occasions and greater style-led consumption. The women’s bottom wear category is expected to outpace overall women’s apparel growth, benefiting from rising urbanization, higher female workforce participation and increasing preference for comfort-led fashion The category is witnessing a steady shift from unbranded to branded players, supported by rising consumer awareness, quality differentiation and deeper retail penetration, driving faster growth for organized brands Source : Technopak Report
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Go Fashion (India) Limited We are Present Across Categories in the Sweet-Spot Price Segment 35 Brand SKUs Ethnic Western Athleisure Fusion Denim 728 ✓ ✓ ✓ ✓ ✓ Player A 800 ✓ ✓ Player B 700 ✓ ✓ ✓ Player C 673 ✓ ✓ ✓ Player D 656 ✓ P Player E 343 ✓ ✓ ✓ ✓ Go Colors is the only branded player with meaningful scale across all major bottom-wear categories INR>1000 INR 500 - 1000 INR <500 Our Pricing Strategy is in a sweet spot which captures a large chunk of the market Leading to a Higher Market Share 8% 9% 10% 8%66% Price Range (Rs.) Share of Market Segment FY24 ~43% Premium ~45% Mass Premium ~12% Mass Projected CAGR (%) FY24 - FY29 ~17.8% ~17.1% ~14.1% Branded Bottom Wear Market Share (%) Go Colors Key Ethnic Wear Key Western Wear Key Inner Wear Others
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Go Fashion (India) Limited 36 2019 20192016 ‘Images Retail Award’ Most admired retailer of the year – Concept Stores Transforming India Retail Award ‘Sustaining Enterprise of the Year’ at the TIECON, Chennai 2022 Awards & Accolades
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Historical Financials
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Go Fashion (India) Limited Historical Profit & Loss Account Statement 38 Particulars (in Rs. Crore) 31-Mar-26 31-Mar-25 31-Mar-24 31-Mar-23 31-Mar-22* Total Revenue 838.0 848.2 762.8 665.3 401.3 Cost of Materials Consumed 308.7 311.4 291.9 261.6 160.2 Gross Profit 529.3 536.8 470.9 403.6 241.1 Gross Margin 63.2% 63.3% 61.7% 60.7% 60.1% Employee Cost 177.9 160.2 130.2 102.6 73.1 Other Expenses 114.3 108.6 98.2 88.8 45.8 EBITDA 237.1 268.0 242.4 212.3 122.2 EBITDA Margin 28.3% 31.6% 31.8% 31.9% 30.5% Other Income 26.0 25.4 17.3 11.9 20.8 Depreciation 134.7 123.7 110.4 87.1 71.8 EBIT 128.4 169.7 149.4 137.1 71.2 Finance Cost 49.4 46.4 39.1 28.5 23.3 Profit before Tax 79.0 123.3 110.1 108.7 47.9 Tax 19.9 29.8 27.4 25.9 12.3 PAT 59.2 93.5 82.8 82.8 35.6 PAT Margin 7.1% 11.0% 10.9% 12.4% 8.9% EPS (in Rs.) 10.97 17.3 15.33 15.33 6.74 Audited Financials * FY22 Financials have been regrouped wherever necessary
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Go Fashion (India) Limited Figures in accordance with Ind AS Historical Balance Sheet Statement 39 EQUITY AND LIABILITIES (Rs. Crs.) 31-Mar-26 31-Mar-25 31-Mar-24 31-Mar-23 31-Mar-22* Equity Share Capital 52.6 54.0 54.0 54.0 54.0 Other Equity 637.7 643.4 549.9 466.4 384.4 Total Equity 690.3 697.4 603.9 520.4 438.4 Liabilities Non Current Liabilities Lease liabilities 422.4 416.6 393.4 274.6 177.7 Provision 7.8 6.1 5.1 5.1 2.9 Total Non Current Liabilities 430.2 422.8 398.5 279.7 180.6 Current Liabilities Borrowings 0.0 0.0 0.0 0.0 0.0 Lease liabilities 110.1 90.4 75.7 64.9 72.1 Trade payables 24.8 31.6 36.8 36.2 17.7 Other financial liabilities 23.5 23.6 21.0 17.5 3.2 Current tax liabilities (net) 4.3 3.9 1.3 3.6 4.7 Other current liabilities 11.2 8.2 4.1 2.4 30.6 Provisions 1.4 2.6 0.6 2.3 3.9 Total Current Liabilities 175.2 160.2 139.6 126.8 132.2 TOTAL EQUITY & LIABILITIES 1,295.6 1,280.3 1,142.0 927.0 751.2 ASSETS (Rs. Crs.) 31-Mar-26 31-Mar-25 31-Mar-24 31-Mar-23 31-Mar-22* Non Current Assets Property, plant and equipment 119.9 111.7 101.3 85.0 64.1 Capital work-in-progress 8.3 11.5 10.9 7.4 226.7 Intangible assets 0.6 0.8 0.9 0.7 8.7 Right-of-use assets 463.2 447.5 424.5 308.0 0.4 Financial Assets Other financial asset 67.5 40.2 36.1 54.9 24.0 Deferred tax assets (net) 36.8 31.7 23.4 16.8 11.4 Other non-current assets 0.8 1.3 2.1 2.6 1.0 Total Non-Current Assets 697.1 644.5 599.1 475.4 336.3 Current Assets Inventories 268.7 237.6 215.9 230.3 165.9 Financial Assets Investments 3.2 9.7 6.1 21.7 45.9 Trade receivables 105.7 105.7 79.8 72.2 60.2 Cash and cash equivalents 13.1 16.1 15.7 33.7 42.4 Bank balances other than cash 141.6 222.2 176.4 53.5 63.4 Other financial asset 14.5 13.6 17.3 11.5 11.2 Current tax assets (net) 0.0 0.0 0.0 0.0 0.0 Other current assets 51.8 30.7 31.8 28.7 26.0 Total Current Assets 598.5 635.8 542.9 451.6 415.0 TOTAL ASSETS 1,295.6 1,280.3 1,142.0 927.0 751.2 Audited Financials * FY22 & FY24 Financials have been regrouped wherever necessary
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Go Fashion (India) Limited Demonstrated Track Record Of Strong Performance 40 Revenues Gross Profit & GP Margins Profit After Tax & PAT Margins 401 665 763 848 838 FY22 FY23 FY24 FY25 FY26 Return on Equity (RoE)* Return on Capital Employed (RoCE)* Cash Flow from Operations 241 404 471 537 529 FY22 FY23 FY24 FY25 FY26 36 83 83 93 59 FY22 FY23 FY24 FY25 FY26 Mar-22 Mar-23 Mar-24 Mar-25 Mar-26* 11.5% 15.9% 19.1% 19.2% 11.5% Mar-22 Mar-23 Mar-24 Mar-25 Mar-26* 8.1% 17.3% 16.2% 15.0% 8.9% 33 104 219 199 165 Mar-22 Mar-23 Mar-24 Mar-25 Mar-26 (Rs. Crs.) (Rs. Crs.) (Rs. Crs.) (Rs. Crs.) Note - FY22 Financials Impacted on account of CoVID-19 induced lockdowns * ROCE and ROE are calculated without taking the Impact of IND-AS 116 60.1% 60.7% 61.7% 63.3% 8.9% 12.4% 10.9% 11.0%63.2% 7.1%
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THANK YOU Mr. R Mohan – CFO mohan@gocolors.com Tel: 044 4211 1777 Company: Go Fashion (India) Limited CIN: L17291TN2010PLC077303 Mr. Deven Dhruva / Mr. Sumit Kinikar deven.dhruva@sgapl.net / sumit.kinikar@sgapl.net Tel: +91 98333 73300 / +91 94036 22989 Investor Relations: Strategic Growth Advisors (SGA) CIN: U74140MH2010PTC204285