1. India Stocks

  2. •

    Consumer Cyclical

  3. •

    Luxury Goods
Ethos Limited

Ethos Limited

ETHOSLTD.NS
Ethos LimitedIN flagNational Stock Exchange of India
2,450.80
INR
-51.20
- -
65.58BMarket Cap
Ethos Limited
ETHOSLTD.NS
(National Stock Exchange of India)

Recent

price

2,450.80

P/E

ratio

- -

div

yld

- -

ROIC.AI

2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
232.4
239.9
205.03
238.83
335.47
405.22
511.24
- -
617.62
Revenue per Share
5.18
-0.7
2.52
9.68
25.65
33.79
39.33
- -
36.3
Basic EPS, GAAP
-7.41
11.9
28.56
-2.93
-25.01
-3.5
-40.69
- -
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
10.38
10.36
14.23
21.14
49.13
81.05
120.89
- -
10.25
Book Value per Share
63.9
78.06
82.86
95.48
251.31
341.24
383.59
- -
621.29
Tangible Book Value per Share
19
19
19
24
24
25
24
- -
26
Basic Weighted Avg Shares
4,435
4,578
3,866
5,773
7,885
9,990
12,516
16,122
16,122
Sales/Revenue/Turnover
8.29
5.96
2.98
7.99
11.45
11.23
10.15
7.34
7.34
Operating Margin (%)
257
328
325
315
346
487
630
895
895
Depreciation Expense
99
-13
48
234
603
833
963
948
948
Net Income, GAAP
39.99
167.18
29.24
25.81
25.26
25.17
25.97
26.53
26.53
Effective Tax Rate (%)
2.23
-0.29
1.23
4.05
7.65
8.34
7.69
5.88
5.88
Profit Margin (%)
840
1,012
1,086
1,730
4,890
6,933
7,111
12,237
12,237
Working Capital
692
954
862
1,071
963
1,131
2,451
2,627
2,627
LT Debt
1,304
1,499
1,569
2,317
6,315
8,840
9,822
16,644
16,644
Total Equity
- -
-6.04
2.62
9.93
11.78
9.42
8.18
5.34
5.34
Return on Invested Capital (%)
- -
-7.84
9.28
18.63
31.56
32.79
23.81
20.43
20.43
Return on Capital (%)
- -
-6.74
20.42
60.02
72.39
52.83
38.84
58.73
58.73
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
514
- -
596
LT Borrowings
1
- -
1
LT Finance Leases
2,623
- -
2,626
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
27
- -
27
Market Capitalization
63,356
75,965
56,993

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
15,694
- -
14,887
Cash, Cash Equivalents & STI
8,213
- -
6,886
Accounts Receivable, Net
236
- -
175
Inventories
6,618
- -
6,955
Total Current Liabilities
2,651
- -
2,650
Payables & Accruals
- -
- -
- -
ST Debt
514
- -
596
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
68.15%
69.46%
Free Cash Flow
- -
293.26%
-118.4%
Net Income, GAAP
- -
120.32%
-1.58%
Sales/Revenue/Turnover
- -
33.34%
28.81%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2,300
2,352
2,812
2,525
9,990
2025
2,732
2,971
3,699
3,113
12,516
2026
3,463
3,834
4,685
4,140
16,122

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
7.52
7.69
10.47
- -
33.79
2025
9.32
8.68
12.05
9.29
39.33
2026
7.77
8.78
11.46
8.2
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Ethos Limited operates a prominent network of luxury watch boutiques across India. The company offers an extensive collection of premium timepieces and related accessories, catering to a sophisticated clientele. Beyond new luxury watches, Ethos also specializes in certified pre-owned watches and delivers comprehensive aftercare services such as intricate repairs, meticulous restorations, movement overhauls, and precise ultrasonic cleaning. The retailer currently manages 86 outlets spread across 26 cities nationwide and represents over 70 esteemed luxury watch brands, with many being exclusive to its stores. Its sales channels include both its widespread physical presence and a robust online platform, offering an integrated omnichannel experience. Established in 2003, Ethos Limited is headquartered in Gurugram, India, and functions as a subsidiary of KDDL Limited.