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

JM Financial has buy call on Go Fashion (India) with a target price of Rs 1410. The current market price of Go Fashion (India) is Rs 1190.85.

Go Fashion (India), incorporated in the year 2010, is a Large Cap company (having a market cap of Rs 6437.87 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 30-09-2022, the company has reported a Standalone Total Income of Rs 168.69 Crore, down -.11 % from last quarter Total Income of Rs 168.87 Crore and up 44.00 % from last year same quarter Total Income of Rs 117.15 Crore. Company has reported net profit after tax of Rs 19.27 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 30-06-2022, the company has a total of 5 Crore shares outstanding.

Investment Rationale
An in-place execution template, lack of formidable competition and the company’s focus on newer growth drivers (online channel and new product extensions) provide assurance on the future runway for growth. The brokerage initiated coverage with a DCF-based target price of Rs 1,410.

Promoter/FII Holdings
Promoters held 52.79 per cent stake in the company as of 30-Jun-2022, while FIIs owned 7.92 per cent, DIIs 22.75 per cent.