Initiating coverage:
#Gofashion FY22 YOY
Sales⬆️60%✅
EBITDA⬆️156%✅
EBITDA Margin⬆️29.7%
EBIT Margin⬇️12.6%
NPM⬆️8.9%
ROE⬆️8.1%
CFO/EBITDA 27.7%
CR 3.2
TA⬆️37%
Debt free✅
Ladies wear brand #GoColors
500 stores✅
Plan to increase 130 stores per year✅
1/n
#Gofashion FY22 YOY
Sales⬆️60%✅
EBITDA⬆️156%✅
EBITDA Margin⬆️29.7%
EBIT Margin⬇️12.6%
NPM⬆️8.9%
ROE⬆️8.1%
CFO/EBITDA 27.7%
CR 3.2
TA⬆️37%
Debt free✅
Ladies wear brand #GoColors
500 stores✅
Plan to increase 130 stores per year✅
1/n
Go Fashion Initiating Coverage 2/n
54 new stores opened in FY22
Company gives guidance for 30% CAGR✅
Guidance to maintain 95 days inventory, 35 days receivables, 10 days payables
Working capital days of 120 days
Rent to revenue ratio to be set at 15%
EBO forms 75% revenue
54 new stores opened in FY22
Company gives guidance for 30% CAGR✅
Guidance to maintain 95 days inventory, 35 days receivables, 10 days payables
Working capital days of 120 days
Rent to revenue ratio to be set at 15%
EBO forms 75% revenue
Go Fashion Initiating Cov 3/n
Focus on online sales✅
SAP ERP software to be used✅
Cash balance/Total Assets 6%
Solid business model
Focus on 30% sales growth (offline & online), Maintaining EBITDA Margin at 25 to 27%
Adding new stores, new products
Price: 985 Rs/Sh
Focus on online sales✅
SAP ERP software to be used✅
Cash balance/Total Assets 6%
Solid business model
Focus on 30% sales growth (offline & online), Maintaining EBITDA Margin at 25 to 27%
Adding new stores, new products
Price: 985 Rs/Sh
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