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Model Note · GO FASHION INDIA LTD · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
GO FASHION INDIA LTD Discounted cash flow · base FY26
GO FASHION INDIA LTD
Value per share, this model₹190
CMP 2026-09-10₹328.00
Difference(42.2)%
Growth the CMP implies45.0%/yr
This note states the assumptions and the arithmetic of one model of GO FASHION INDIA LTD, built on its filed FY26 consolidated statements. The value is the outcome of the assumptions below and nothing else; it is not a fair value, a target or a recommendation.
Assumptions
Input
This model
Filed reference
Revenue growth, 5 years
-1% a year
FY26 (1.2)% · 5-yr CAGR —%
EBITDA margin
28.3%
FY26 28.3% · 5-yr average 30.6%
Depreciation · capex, % of revenue
16.1% · 4.7%, fading to 1.2× depreciation
FY26 16.1% · 4.7%
Working capital, % of added revenue · tax
41.7% · 25.1%
152 working-capital days · effective 25.1%
Discount rate
11.00%
1-yr beta 1.26
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(13) · ₹0 · ₹0 cr
FY26 net debt ₹(13) cr
Shares
5.26 crore
5.26 crore today
Source: SEBI results XBRL as filed with BSE/NSE, exchange prices; the reader's assumptions.
Projected cash flow to the firm
₹ crore
FY26
FY27
FY28
FY29
FY30
FY31
Revenue
838
830
821
813
805
797
growth %
(1.2)
(1.0)
(1.0)
(1.0)
(1.0)
(1.0)
EBITDA
237
235
232
230
228
226
Depreciation
(135)
(134)
(132)
(131)
(130)
(128)
NOPAT
77
76
75
74
74
73
less capex
(39)
(39)
(69)
(98)
(126)
(154)
less working-capital build
—
3
3
3
3
3
Free cash flow to firm
—
174
142
111
80
51
Present value
165
122
85
56
32
Source: the model; base year as filed.
Every figure is the reader's model over filed numbers · No rating, target or fair value is expressedmarketping.in
Model Note · GO FASHION INDIA LTD · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
459
PV of the terminal value (53% of EV)
525
Enterprise value
984
less net debt
13
less non-controlling interest
0
add non-operating investments
0
Equity value
997
÷ 5.26 crore shares
₹190
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
195
205
216
231
249
10.5%
184
192
202
214
228
11.0%
175
181
190
199
211
11.5%
166
172
179
187
197
12.0%
159
164
170
177
185
Source: the model; n/a where terminal growth reaches the discount rate.
Statement
This note is the reader's own model over publicly filed information: SEBI results XBRL filed with BSE and NSE and exchange price data, assembled by MarketPing software; every assumption above is the reader's. It contains no research recommendation, no price target and no opinion by MarketPing on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Historical per-share figures are on the current share count. Where a figure is unavailable the table shows a dash rather than an estimate. Nothing here constitutes investment advice, an offer or a solicitation.
Every figure is the reader's model over filed numbers · No rating, target or fair value is expressedmarketping.in
