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    Buy Go Fashion (India), target price Rs 1500: ICICI Securities

    Synopsis

    Go Fashion (India), incorporated in the year 2010, is a Large Cap company (having a market cap of Rs 5942.61 Crore) operating in Apparels sector.

    BuyGetty Images
    ICICI Direct expects comfortable product-level margins and continued thrust on EBO store addition.
    ICICI Securities has buy call on Go Fashion (India) with a target price of Rs 1500. The current market price of Go Fashion (India) is Rs 1054.35.


    Go Fashion (India), incorporated in the year 2010, is a Large Cap company (having a market cap of Rs 5942.61 Crore) operating in Apparels sector.

    Go Fashion (India) key Products/Revenue Segments include Garments and Scrap for the year ending 31-Mar-2022.

    Financials
    For the quarter ended 31-12-2022, the company has reported a Standalone Total Income of Rs 179.43 Crore, up 6.36 % from last quarter Total Income of Rs 168.69 Crore and up 23.56 % from last year same quarter Total Income of Rs 145.22 Crore. Company has reported net profit after tax of Rs 24.31 Crore in latest quarter.

    The company’s top management includes Mr.Srinivasan Sridhar, Mr.Prakash Kumar Saraogi, Mr.Gautam Saraogi, Mr.Rahul Saraogi, Mr.Ravi Shankar Ganapathy Agraharam Venkataraman, Mr.Dinesh Madanlal Gupta, Ms.Rohini Manian. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-12-2022, the company has a total of 5 Crore shares outstanding.

    Investment Rationale
    The brokerage believes the brand has been able to create a replicable template of diverse product portfolio along with a highly efficient operating model of EBOs. Going forward, ICICI Direct expects comfortable product-level margins and continued thrust on EBO store addition. Further, it continues to successfully add new products outside of core products.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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