Go Fashion (India) Limited has filed its Business Responsibility and Sustainability Report (BRSR) for the financial year ended March 31, 2026, pursuant to SEBI’s Listing Obligations and Disclosure Requirements Regulations. The filing provides a standalone view of the company’s environmental, social, and governance (ESG) performance, underlining its strategic pivot towards responsible retail expansion and supply chain transparency.

The company reported a total turnover of ₹838.01 crore and a net worth of ₹690.29 crore for FY26. CSR compliance remains applicable under Section 135 of the Companies Act, 2013, with the board overseeing sustainability integration through the Risk Management Committee.

Workforce and Social Metrics

The company employs 4,771 permanent staff, with women constituting 53.91% of the workforce. Female representation on the Board of Directors stands at 28.57%, while Key Managerial Personnel include one female member (50%).

Employee retention remains a key focus area, with a permanent employee turnover rate of 61% in FY26, compared to 67% in FY25. The company reports that 100% of employees are covered by health and accident insurance schemes.

Environmental Performance

Go Fashion operates primarily as a retailer with outsourced manufacturing, resulting in a minimal direct environmental footprint. The company disclosed total Scope 1 greenhouse gas emissions of 32.74 metric tonnes of CO2 equivalent, an increase from 18.65 metric tonnes in FY25. This rise is attributed to the expanded measurement boundary to include fugitive emissions from refrigerant top-ups and fuel combustion in owned vehicles, rather than an actual increase in emissions intensity.

Scope 3 emissions, currently limited to business air travel, totaled 166.3 metric tonnes. The company plans to progressively expand Scope 3 reporting to include employee commuting and logistics in future periods.

Key environmental initiatives include:

• Upgrading all store and office lighting to energy-efficient LED fittings.
• Operating a rooftop solar power system at the Corporate Office.
• Segregating plastic packaging waste for recycling through municipal channels.

Governance and Compliance

The company recorded zero monetary fines, penalties, or non-monetary punishments from regulators or judicial institutions during FY26. No complaints were received regarding sexual harassment, discrimination, child labor, or forced labor.

Customer grievance mechanisms handled 3,758 complaints in FY26, with all issues resolved or tracked to closure. The company maintains an Anti-Bribery Policy with a zero-tolerance approach to corruption, reinforced by its Code of Conduct and Vigil Mechanism.

What the Numbers Show

The divergence between the reported increase in absolute Scope 1 emissions and the company’s stated commitment to energy conservation is explained by a change in reporting methodology rather than operational inefficiency. By including previously unreported vehicle fuel consumption and refrigerant leaks, the FY26 data offers a more complete picture of its carbon footprint, aligning with GHG Protocol completeness principles.

Go Fashion (India) Limited Go Fashion (India) Limited has scheduled its 16th Annual General Meeting (AGM) for September 8, 2026, to adopt the audited financial statements for the fiscal year ended March 31, 2026. The meeting will be held via Video Conferencing or Other Audio-Visual Means (OAVM), with the book closure period running from September 2 to September 8, 2026.

The primary agenda includes the re-appointment of Mr. Vinod Kumar Saraogi as a director liable to retire by rotation. Shareholders will also review the company's strategic pivot during FY25-26, which involved closing smaller stores and expanding into larger formats to enhance product discovery.

Financial Performance

For FY25-26, the company reported revenue from operations of ₹8,380.1 million, a marginal decline of 1.20% from ₹8,481.7 million in the previous year. Profit after tax fell sharply by 36.71% to ₹591.8 million, compared to ₹935.0 million in FY24-25. EBITDA decreased by 11.51% to ₹2,371.1 million.

The decline in profitability was attributed to lower operating leverage resulting from moderated sales volumes, alongside continued investments in retail expansion, technology, and supply chain capabilities. Despite the earnings moderation, the company maintained a gross margin of 63.2%, reflecting disciplined pricing strategies.

Strategic Shifts and Capital Allocation

A significant development during the year was the completion of a share buyback. The company bought back 1.41 million equity shares at ₹460 per share, with a total payout of ₹649.9 million. The shares were extinguished in March 2026, reducing the paid-up equity capital.

Operationally, Go Fashion executed a deliberate reset of its retail network. The company closed multiple small-format stores under 400 sq ft, citing limited product visibility as a constraint on customer discovery. Instead, it added approximately 43,000 sq ft of net retail space, focusing on larger formats of 700 sq ft and above. This shift aims to display the full breadth of its portfolio, which now includes trousers, palazzos, and athleisure, rather than just legacy leggings.

What the Numbers Show

The composition of revenue reveals a successful diversification away from core leggings. Approximately 71% of FY25-26 revenue came from value-added, non-leggings bottomwear categories. This structural shift indicates that the brand has evolved into a broader bottomwear destination, reducing dependency on a single product type while maintaining pricing discipline through full-price sales, which constituted 95% of Exclusive Brand Outlet sales.

Outlook and Governance

The Board did not recommend any dividend for FY25-26. Looking ahead, the company plans to continue its "small-format-light, larger-format-led" strategy, with early signs of recovery noted in Q4 FY25-26 when close to 275 stores delivered positive same-store sales growth averaging 11%. The company also initiated a pilot for everyday casual wear for men and women and opened its first international store in the Middle East.