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GOCOLORS - Go Fashion (I)

📊 NSE: GOCOLORS 🏢 Textiles - Products 📅 Last Updated: 12/13/2025 22:26

📢 Recent Corporate Announcements

Go Fashion (India) Completes Buyback of 14.13 Lakh Shares at ₹460 Per Share

🟢 POSITIVE ⭐ 7/10

REGULATORY 📅 02 Mar 2026, 06:42 PM

Go Fashion (India) Limited, known for the brand Go Colors, has successfully concluded its share buyback program via the tender offer route. The company repurchased 14,13,000 equity shares at a price of ₹460 per share, involving a total consideration of approximately ₹65 crore. The buyback process, which opened on February 13 and closed on February 20, 2026, resulted in the cancellation of these shares, thereby reducing the total equity base. This corporate action is aimed at returning surplus cash to shareholders and improving financial ratios like EPS.

Repurchased 14,13,000 equity shares at a fixed price of ₹460 per share
Total buyback size amounted to ₹64,99,80,000 excluding transaction costs and taxes
The buyback was executed through the Tender Offer route on a proportionate basis
Tendering period concluded on February 20, 2026, with the post-buyback announcement on March 02, 2026
The buyback price of ₹460 represents the company's valuation benchmark for this exercise

💡 The completion of the buyback reduces the equity float, which is generally positive for long-term Earnings Per Share (EPS) growth. Investors should monitor the post-buyback shareholding pattern to assess the impact on promoter and public stakes.

Go Fashion Appoints Retail Veteran S Zafir Ahmed as Chief Merchandising Officer

🟢 POSITIVE ⭐ 4/10

MANAGEMENT 📅 02 Mar 2026, 01:39 PM

Go Fashion (India) Limited has announced the appointment of Mr. S Zafir Ahmed as the Chief Merchandising Officer, effective March 02, 2026. Mr. Ahmed is a seasoned retail professional with over 30 years of experience in merchandising and planning across various leadership roles. His expertise in merchandise planning, assortment, and space management is expected to drive operational efficiency and business growth. This strategic addition to the senior management team aims to strengthen the company's core retail operations.

Appointment of Mr. S Zafir Ahmed as Chief Merchandising Officer effective March 02, 2026
Mr. Ahmed brings over 30 years of extensive experience in the retail sector
Expertise spans across merchandise planning, assortment, and space management
The appointment is in the Senior Management Category as per SEBI regulations

💡 Investors should view this as a positive step in strengthening the management team with deep industry expertise. Monitor if this leadership change leads to improved inventory management and better store-level product assortments in future quarters.

Go Fashion (India) Dispatches Letter of Offer for Share Buyback; Publishes Newspaper Ads

🟡 NEUTRAL ⭐ 4/10

OTHER 📅 13 Feb 2026, 06:37 PM

Go Fashion (India) Limited has completed the dispatch of the Letter of Offer for its share buyback program. The company published newspaper advertisements on February 13, 2026, in Financial Express, Makkal Kural, and Jansatta to notify eligible shareholders. This follows the initial dispatch notification sent to exchanges on February 11, 2026. This is a procedural update indicating that the buyback process is proceeding according to the regulatory timeline.

Newspaper advertisements published on February 13, 2026, regarding the Letter of Offer dispatch.
Advertisements appeared in Financial Express (English), Makkal Kural (Tamil), and Jansatta (Hindi).
Follows the dispatch of the Letter of Offer initiated on February 11, 2026.
The announcement confirms the company is adhering to SEBI buyback regulations and timelines.

💡 Eligible shareholders should review the Letter of Offer for the buyback price and entitlement ratio to decide on participation. Ensure all tender forms are submitted within the specified window mentioned in the offer document.

Go Fashion (GOCOLORS) to Buyback 14.13 Lakh Shares at ₹460 via Tender Offer

🟢 POSITIVE ⭐ 7/10

OTHER 📅 11 Feb 2026, 05:49 PM

Go Fashion (India) Limited has dispatched the Letter of Offer for its ₹64.99 crore share buyback program. The company will repurchase up to 14,13,000 equity shares, representing 2.62% of its total equity, at a fixed price of ₹460 per share through the tender route. The buyback window is scheduled to open on February 13, 2026, and close on February 20, 2026. Small shareholders have an indicative entitlement ratio of 5 shares for every 51 held, while the general category ratio is 9 for every 175.

Buyback of 14,13,000 shares at ₹460 per share, totaling ₹64.99 crores
Tender offer represents 2.62% of the total paid-up equity share capital
Buyback window opens on February 13, 2026, and closes on February 20, 2026
Entitlement ratio for small shareholders is approximately 9.8% (5:51) and 5.15% (9:175) for others
The offer size constitutes 9.44% of the company's total paid-up capital and free reserves

💡 Eligible shareholders should compare the buyback price of ₹460 with the current market price to determine if tendering is profitable. Small shareholders should note the higher entitlement ratio of ~9.8% which may offer a better acceptance probability.

Go Fashion Q3 FY26: PAT Drops to ₹7 Cr; Revenue at ₹195 Cr Amid 30% LFS Channel Slump

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 03 Feb 2026, 04:07 PM

Go Fashion (India) Limited reported a challenging Q3 FY26 with revenue of ₹195 crores and a significant decline in PAT to ₹7 crores. The performance was severely impacted by a 30% drop in the Large Format Store (LFS) channel due to inventory intake pauses by a key partner and industry-wide lower footfalls. Despite these headwinds, the company maintained a strong gross margin of 64.3% and a full-price sales ratio above 95%. To support shareholder value, the company announced a ₹65 crore buyback at ₹460 per share.

Q3 FY26 Revenue stood at ₹195 crores with EBITDA at ₹52 crores (26.7% margin).
PAT for the quarter was ₹7 crores, significantly impacted by negative Same-Store Sales Growth (SSSG).
LFS channel sales declined by 30% after a major partner paused fresh inventory intake.
Non-legging bottom wear now contributes 65% of total sales, reflecting a shift in product mix.
Company announced a buyback of 14.13 lakh shares at ₹460 per share, totaling ₹65 crores.

💡 Investors should exercise caution as the company faces persistent negative SSSG and volatility in the LFS channel. While the buyback provides a floor, a recovery in footfalls and stabilization of the LFS partnership are critical for a re-rating.

Go Fashion Announces ₹65 Crore Buyback at ₹460 Per Share; Record Date Feb 09, 2026

🟢 POSITIVE ⭐ 8/10

OTHER 📅 02 Feb 2026, 04:44 PM

Go Fashion (India) Limited has announced a buyback of up to 14,13,000 equity shares, representing 2.62% of its total paid-up equity capital. The buyback will be conducted through the tender offer route at a fixed price of ₹460 per share, involving a total outlay of approximately ₹65 crore. The company has fixed February 09, 2026, as the record date to determine eligible shareholders. This capital return represents 9.44% of the company's total paid-up share capital and free reserves as of March 2025.

Buyback of up to 14,13,000 shares at a price of ₹460 per equity share
Total buyback size capped at ₹64,99,80,000, excluding transaction costs
Record date for eligibility is Monday, February 09, 2026
15% of the offer (approx. 2.12 lakh shares) reserved for small shareholders holding less than ₹2 lakh worth of shares
Buyback represents 9.44% of the aggregate paid-up capital and free reserves

💡 Eligible shareholders should evaluate the buyback price against the current market price to decide on tendering; small shareholders may benefit from a potentially higher acceptance ratio due to the 15% reservation.

Go Fashion (India) Ltd Announces ₹65 Crore Buyback at ₹460 Per Share

🟢 POSITIVE ⭐ 8/10

OTHER 📅 31 Jan 2026, 01:39 PM

Go Fashion (India) Limited has approved a buyback of up to 14.13 lakh equity shares, representing 2.62% of its total paid-up capital. The buyback is priced at ₹460 per share, involving a total outlay of approximately ₹65 crore via the tender offer route. The record date for determining eligibility has been fixed as February 09, 2026. Significantly, the promoters and promoter group have expressed their intention not to participate in this buyback, which typically improves the acceptance ratio for public shareholders.

Buyback of up to 14,13,000 shares at ₹460 each, totaling ₹64.99 crore
Buyback price represents a premium of up to 15.38% over the 2-week volume weighted average price
Promoters and Promoter Group will not participate in the buyback offer
Record date for eligibility is fixed as February 09, 2026
The buyback size represents 9.44% of the total paid-up equity capital and free reserves

💡 Investors should monitor the market price relative to the ₹460 buyback price; the promoter non-participation makes this an attractive opportunity for retail shareholders to potentially tender shares at a premium.

Go Fashion Releases Q3 FY 2025-26 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 29 Jan 2026, 07:44 PM

Go Fashion (India) Limited has released the audio recording of its Q3 FY 2025-26 earnings call held on January 29, 2026. This disclosure is made in compliance with Regulation 30 of the SEBI Listing Regulations to ensure transparency for all stakeholders. The recording provides management's detailed commentary on the company's financial performance and operational highlights for the third quarter. Investors can access the link to understand the business outlook and strategic updates discussed during the session.

Audio recording of the Q3 FY 2025-26 earnings call is now available for public access.
The conference call was conducted on January 29, 2026, at 17:00 Hours IST.
Disclosure submitted under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Recording link provided: https://ccreservations.com/recordings/data/10039396.mp3

💡 Investors who missed the live session should listen to the recording to gain insights into management's guidance and store expansion plans. No immediate trading action is required based on this administrative filing.

Go Fashion (India) Sets February 9, 2026, as Record Date for Share Buyback

🟢 POSITIVE ⭐ 7/10

OTHER 📅 29 Jan 2026, 06:10 PM

Go Fashion (India) Limited, known for the brand Go Colors, has fixed February 9, 2026, as the record date for its proposed share buyback. This announcement follows the Board of Directors' approval of the buyback on January 29, 2026. The record date is crucial as it determines which shareholders are eligible to participate and tender their shares in the offer. Investors must ensure they hold the shares in their demat accounts by this date to be considered eligible for the buyback entitlement.

Record date for the buyback is officially set for February 9, 2026.
The buyback was approved by the Board of Directors on January 29, 2026.
The process is being conducted in compliance with SEBI (Buy-Back of Securities) Regulations, 2018.
Eligibility for participation is restricted to shareholders appearing in the company's records on the fixed date.

💡 Shareholders wishing to participate in the buyback should ensure they purchase shares at least one trading day prior to the record date to account for the T+1 settlement cycle. Monitor for further disclosures regarding the buyback price and the total size of the offer to assess the potential premium.

Go Fashion Q3 FY26 PAT Drops 71% YoY to ₹7 Cr; Revenue Declines 9%

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 29 Jan 2026, 03:34 PM

Go Fashion (India) Limited reported a weak set of numbers for Q3 FY26, with revenue declining 9% YoY to ₹195 crore and PAT crashing 71% to ₹7 crore. The company faced significant margin pressure as EBITDA margins contracted to 26.7% from 32.5% in the year-ago period. Same Store Sales Growth (SSSG) remained negative at -3.6% for the nine-month period, reflecting a challenging retail environment. Despite the earnings hit, the company continues its expansion strategy, adding 49 EBOs in 9M FY26 and maintaining a strong cash position of ₹256 crore.

Q3 FY26 Revenue fell 9% YoY to ₹195 crore, while PAT plummeted 71% to ₹7.2 crore.
EBITDA margins for the quarter contracted to 26.7% from 32.5% in Q3 FY25.
Same Store Sales Growth (SSSG) for EBOs was negative at -3.6% for 9M FY26.
The company expanded its network to 825 EBOs and 2,546 LFS across India as of December 2025.
Maintains a healthy balance sheet with ₹256 crore in cash and cash equivalents.

💡 Investors should exercise caution as the sharp decline in profitability and negative SSSG indicate significant headwinds in consumer demand and operational efficiency. Monitor the performance of new product categories and store-level productivity in upcoming quarters for signs of a turnaround.

Go Fashion Q3 FY26 PAT Plummets 71% YoY to ₹7.2 Cr; Announces Buyback at ₹460

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 29 Jan 2026, 03:31 PM

Go Fashion (India) Limited reported a weak set of numbers for Q3 FY26, with revenue declining 9% YoY to ₹194.9 crore and PAT dropping sharply by 71% to ₹7.2 crore. The company faced significant headwinds from lower footfalls, resulting in a negative Same Store Sales Growth (SSSG) of -3.6% for the 9M FY26 period. To support the stock, the company has announced a buyback of up to 14.13 lakh shares at ₹460 per share. Despite the slowdown, the company continued its expansion by adding 49 net stores in the first nine months, bringing the total EBO count to 825.

Q3 FY26 Revenue fell 9% YoY to ₹194.9 crore compared to ₹214.7 crore in Q3 FY25.
Net Profit (PAT) crashed 71% YoY to ₹7.2 crore, while EBITDA margins compressed to 26.7% from 32.5%.
Same Store Sales Growth (SSSG) for Exclusive Brand Outlets (EBOs) stood at -3.6% for 9M FY26.
Announced a share buyback of up to 14,13,000 equity shares at a price of ₹460 per share.
Inventory days increased to 114 days due to new concept stores and a slowdown in the Large Format Store (LFS) segment.

💡 Investors should remain cautious as the sharp decline in profitability and negative SSSG indicate significant operational pressure in the apparel segment. While the buyback at ₹460 provides a price floor, a re-rating will depend on the recovery of footfalls and improvement in store-level productivity.

Go Fashion Approves ₹65 Cr Buyback at ₹460/Share; Q3 Net Profit Drops 70% YoY

🔵 WATCH ⭐ 8/10

BOARD_MEETING 📅 29 Jan 2026, 03:15 PM

Go Fashion (India) Limited has approved a buyback of 14.13 lakh shares (2.62% of total capital) at ₹460 per share via the tender offer route, totaling ₹64.99 crore. The record date is set for February 9, 2026, and promoters have opted not to participate in the offer. However, the company reported a weak Q3 FY26 performance, with revenue falling 9.2% YoY to ₹194.9 crore and PAT declining sharply by 70.5% YoY to ₹7.17 crore. The buyback provides some capital return to shareholders amidst a significant downturn in quarterly profitability.

Buyback of up to 14,13,000 equity shares at ₹460 per share via tender offer route.
Total buyback size of ₹64.99 crore representing 9.44% of paid-up capital and free reserves.
Q3 FY26 Revenue declined to ₹194.89 crore from ₹214.73 crore in the previous year's quarter.
Net Profit (PAT) for Q3 FY26 plummeted 70.5% YoY to ₹7.17 crore compared to ₹24.32 crore.
Record date for buyback eligibility is February 9, 2026; Promoters (52.79% stake) will not participate.

💡 The buyback offers a premium exit for short-term investors, especially small shareholders, but the sharp decline in operational margins and PAT is a red flag. Long-term investors should wait for signs of revenue recovery and margin stabilization before increasing exposure.

Go Fashion Announces ₹65 Cr Buyback at ₹460/Share; Q3 PAT Drops 70% YoY

🔵 WATCH ⭐ 8/10

BOARD_MEETING 📅 29 Jan 2026, 03:01 PM

Go Fashion (India) Limited has approved a share buyback of up to 14.13 lakh shares at ₹460 per share via the tender route, representing 2.62% of its paid-up capital. The total buyback size is approximately ₹65 crore, with the record date fixed for February 9, 2026. Concurrently, the company reported a weak Q3 FY26 performance, with revenue declining 9.2% YoY to ₹194.9 crore and PAT falling sharply by 70.5% YoY to ₹7.16 crore. Promoters have decided not to participate in the buyback, which may offer some support to the stock price despite the earnings miss.

Approved buyback of 14,13,000 equity shares at ₹460 per share, a premium over current market prices.
Total buyback size of ₹64.99 crore represents 9.44% of the company's total paid-up capital and free reserves.
Q3 FY26 Net Profit (PAT) plummeted to ₹7.16 crore from ₹24.32 crore in the same quarter last year.
Revenue from operations for the quarter ended December 2025 stood at ₹194.89 crore versus ₹214.73 crore YoY.
Record date for the buyback eligibility is set for February 9, 2026, with promoters not participating.

💡 Investors should consider the buyback as an exit opportunity at a premium, given the significant deterioration in quarterly profitability. The sharp drop in margins and revenue suggests fundamental headwinds that require cautious monitoring.

Go Fashion Q3 PAT Drops 70% YoY to ₹7.16 Cr; Announces ₹65 Cr Buyback at ₹460/Share

🔴 NEGATIVE ⭐ 8/10

BOARD_MEETING 📅 29 Jan 2026, 02:59 PM

Go Fashion (India) Limited reported a weak set of results for Q3 FY26, with Revenue from operations declining 9.2% YoY to ₹194.89 crore. Net profit saw a sharp contraction of 70.5% YoY, falling to ₹7.16 crore from ₹24.32 crore in the previous year's corresponding quarter. To provide an exit or reward shareholders, the board approved a buyback of 14.13 lakh shares at ₹460 per share via the tender offer route. The buyback represents 2.62% of the total paid-up capital, and promoters have decided not to participate in the offer.

Revenue from operations fell to ₹194.89 crore in Q3 FY26 from ₹214.73 crore in Q3 FY25.
Net Profit (PAT) plummeted 70.5% YoY to ₹7.16 crore, with EPS dropping from ₹4.50 to ₹1.33.
Approved buyback of up to 14,13,000 equity shares at a price of ₹460 per share.
Total buyback size is ₹64.99 crore, representing 9.44% of the company's net worth as of March 2025.
Record date for the buyback eligibility is fixed as February 9, 2026.

💡 The significant decline in quarterly earnings is a major headwind that may overshadow the buyback announcement. Investors should exercise caution and monitor the company's margin recovery and demand trends before participating in the buyback.

Go Fashion Schedules Q3 & 9M FY26 Earnings Conference Call for Jan 29, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 23 Jan 2026, 07:28 PM

Go Fashion (India) Limited has announced its earnings conference call for the third quarter and nine months ended December 31, 2025 (FY26). The call is scheduled for Thursday, January 29, 2026, at 5:00 PM IST. Senior management, including CEO Gautam Saraogi and CFO Mohan R., will be present to discuss the financial results and business outlook. This is a standard regulatory disclosure under SEBI's Listing Obligations and Disclosure Requirements.

Earnings conference call scheduled for January 29, 2026, at 5:00 PM IST
Management representation includes CEO Gautam Saraogi and CFO Mohan R.
Call will cover financial performance for Q3 FY26 and 9M FY26
International dial-in options provided for investors in USA, UK, Singapore, and Hong Kong

💡 Investors should mark the date to listen for management commentary on store expansion and demand trends in the women's bottom-wear segment. No immediate action is required as this is a routine scheduling announcement.

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💰 Financial Performance

Revenue Growth by Segment

Total revenue grew 11% YoY to INR 848 Cr in FY25. Segment performance for Q2 FY26 shows EBOs contributing 68.7%, Large Format Stores (LFS) at 26.8%, Online at 2.6%, and MBO/Others at 1.9%. The EBO channel is the primary growth driver due to its margin-accretive nature.

Geographic Revenue Split

The company operates a pan-India multi-channel distribution network with 734 EBOs as of June 2024. While specific regional % splits are not provided, the strategy focuses on a cluster-based expansion model with 60% of new stores in untapped clusters and 40% in existing ones to deepen market presence.

Profitability Margins

Gross Margin improved from 61.7% in FY24 to 63.3% in FY25. Net Profit Margin remained stable, moving from 10.9% in FY24 to 11.0% in FY25. Profit After Tax (PAT) increased from INR 82.8 Cr in FY24 to INR 93.5 Cr in FY25, representing a 12.9% growth.

EBITDA Margin

EBITDA Margin stood at 31.6% in FY25 compared to 31.8% in FY24, a slight decrease of 20 bps. For Q2 FY26, EBITDA was INR 67 Cr with a margin of 29.7%, reflecting a 50 bps decline YoY due to weak Same Store Sales Growth (SSSG).

Capital Expenditure

Historical capex has supported the expansion to 734 EBOs. Planned expansion involves adding approximately 120-130 EBOs annually, though management recently revised guidance to be more qualitative. Capex is funded through internal accruals of INR 199 Cr (Cash Flow from Operations in FY25).

Credit Rating & Borrowing

ICRA reaffirmed the long-term rating at [ICRA]A+ and revised the outlook from Stable to Positive. Short-term rating is [ICRA]A1+. CRISIL maintains an A+/Stable rating. The company has low dependence on external debt with fund-based bank limit utilization remaining sparsely used.

⚙️ Operational Drivers

Raw Materials

The primary raw material is fabric, specifically cotton-based materials. Raw material costs accounted for 31.41% of revenues in FY25, down from 33.43% in FY24, indicating improved procurement efficiency.

Import Sources

Not specifically disclosed in available documents, though the company mentions advances for fabrics related to imports which are closed upon landing.

Key Suppliers

Not specifically named; however, the company maintains partnerships with 'top-tier suppliers' and utilizes a dedicated in-house quality control team to manage these relationships.

Capacity Expansion

Current retail footprint includes 734 EBOs and 2,313 LFS as of June 2024. The company plans to add 120-130 EBOs per year to capture the unorganized market share, though Q2 FY26 guidance was temporarily moderated to focus on store quality.

Raw Material Costs

Raw material costs were 31.41% of revenue in FY25. Fluctuations in cotton prices (a water-intensive crop) directly impact margins, though the company mitigates this by passing cost increases to customers where feasible.

Manufacturing Efficiency

Operating efficiency is driven by high-margin EBO channels and store economics. Return on Capital Employed (RoCE) was 15.0% in FY25 (pre-Ind AS 116).

Logistics & Distribution

The company utilizes a reliable distribution network to ensure consistency across its pan-India retail channel, though specific logistics cost % is not provided.

📈 Strategic Growth

Expected Growth Rate

10-15%

Growth Strategy

Growth will be achieved through the addition of 120-130 EBOs annually, expansion into untapped geographical clusters (60% of new openings), and product diversification into women's top wear and menswear segments to increase share of wallet.

Products & Services

Women's ethnic bottom-wear including leggings, palazzos, pants, joggers, and recently introduced women's top wear and menswear.

Brand Portfolio

Go Colors

New Products/Services

Foray into women's top wear and menswear segments, introduced through curated SKUs to test market response and support medium-term revenue growth.

Market Expansion

Targeting large untapped and unorganized markets through a multi-channel distribution network (EBOs, LFS, and Online).

Market Share & Ranking

The company is a leader in the organized women's bottom-wear segment in India.

🌍 External Factors

Industry Trends

The industry is shifting from unorganized to organized retail. GFIL is positioned to capture this through its 'Go Colors' brand recall and expansion in a tepid demand environment where it still maintained 11% growth.

Competitive Landscape

Intensely competitive segment with new entrants and established apparel brands, which limits pricing flexibility.

Competitive Moat

Moat is built on strong brand recall in a niche category (bottom-wear), a massive library of 4,000+ SKUs in 120+ colors, and an extensive pan-India distribution network that is difficult for new entrants to replicate quickly.

Macro Economic Sensitivity

Highly sensitive to discretionary consumer spending and economic downturns, which can reduce demand for fashion apparel.

Consumer Behavior

Vulnerable to evolving fashion trends; failure to align with consumer preferences is a noted risk factor mitigated by constant product curation.

Geopolitical Risks

Not disclosed as a primary risk, though textile recycling policy actions and environmental regulations for suppliers could have future cost implications.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with SEBI Listing Regulations and the Companies Act, 2013. The company maintains an Audit Committee and Risk Management Committee to oversee regulatory adherence.

Environmental Compliance

The company is subject to textile recycling and waste management policies, which could increase supplier costs.

Taxation Policy Impact

Effective tax rate is approximately 24% (INR 29.8 Cr tax on INR 123.3 Cr PBT in FY25).

Legal Contingencies

No material pending court cases or legal disputes were disclosed in the provided documents.

⚠️ Risk Analysis

Key Uncertainties

Raw material price volatility (cotton), trend risk (fashion shifts), and competition risk from new entrants are the primary uncertainties impacting the 31.6% EBITDA margin.

Geographic Concentration Risk

While pan-India, the company is currently focusing on 'untapped clusters' to reduce concentration in existing markets.

Third Party Dependencies

High reliance on external suppliers for manufacturing, exposing the company to supply chain disruptions and responsible sourcing risks.

Technology Obsolescence Risk

Digital transformation is focused on e-commerce penetration (2.6% of sales) and managing data privacy risks associated with customer data.

Credit & Counterparty Risk

Debtors' turnover was 46 days in FY25. The company maintains a strong liquidity position with INR 230 Cr in unencumbered cash to mitigate counterparty risks.