Buy Go Fashion (India), target price Rs 1410: JM Financial

Go Fashion (India) current market price is Rs 1190.85.
Founded in 2010, Go Fashion (India) is a large company (with a market capitalization of Rs 643.787 crore) operating in the apparel sector.
Go Fashion (India)’s primary product/revenue segments include Garments and Scrap for the year ending 31 March 2022.

For the quarter ended 30 September 2022, the company reported stand-alone gross revenue of Rs 168.69 Crore, down 0.11% from the previous quarter’s gross revenue of Rs 168.87 Crore and an increase of 44.00% over the same period last year. 117.15 million rupees. The company reported a net profit after tax of Rs 19.27 Crore in the latest quarter.
The company’s management team includes Srinivasan Sridhar, Prakash Kumar Saraogi, Gautam Saraogi, Rahul Saraogi, Ravi Shankar Ganapathy Agraharam Venkataraman, Dinesh Madanlal Gupta and Rohini Manian. We have Deloitte Haskins & Sells LLP as our auditors. As of June 30, 2022, the company has a total of 500 million shares outstanding.

Reason for investment
The execution template on the ground, the lack of formidable competition, and the company’s focus on new growth drivers (expansion of online channels and new products) ensure a runway for future growth. The brokerage has started indemnification with a DCF based target price of Rs 1,410.

Promoter/FII Holdings
As of June 30, 2022, Promoter owned 52.79% of the company’s shares, FII owned 7.92% and DII owned 22.75%.
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