| Quarterly Financials | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 |
Revenue  | 125 | 94 | 137 | 199 | 161 | 176 | 181 | 233 | 213 | 235 | 240 | 288 | 261 | 280 | 303 | 376 | 317 | 352 | 395 |
| Expenses | 107 | 82 | 122 | 169 | 138 | 147 | 152 | 194 | 182 | 196 | 198 | 237 | 217 | 230 | 255 | 313 | 265 | 301 | 336 |
| EBITDA | 18 | 12 | 15 | 29 | 23 | 29 | 30 | 40 | 31 | 39 | 42 | 51 | 45 | 50 | 48 | 63 | 52 | 51 | 59 |
| Operating Profit % | 13 % | 7 % | 10 % | 13 % | 13 % | 16 % | 15 % | 16 % | 12 % | 15 % | 16 % | 16 % | 14 % | 16 % | 14 % | 15 % | 15 % | 13 % | 12 % |
| Depreciation | 8 | 7 | 8 | 9 | 8 | 8 | 8 | 9 | 10 | 11 | 13 | 13 | 13 | 14 | 15 | 17 | 17 | 19 | 21 |
| Interest | 4 | 4 | 4 | 4 | 5 | 4 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 5 | 6 | 7 |
| Profit Before Tax | 6 | 1 | 4 | 16 | 11 | 17 | 18 | 28 | 18 | 24 | 25 | 34 | 28 | 31 | 29 | 41 | 30 | 26 | 32 |
| Tax | 2 | 0 | 1 | 4 | 3 | 4 | 5 | 7 | 5 | 6 | 6 | 9 | 7 | 8 | 7 | 11 | 7 | 7 | 8 |
| Net Profit | 5 | 1 | 3 | 12 | 8 | 13 | 14 | 21 | 13 | 18 | 19 | 26 | 21 | 23 | 21 | 30 | 23 | 19 | 24 |
| EPS in ₹ | 2.48 | 0.46 | 1.46 | 6.59 | 4.25 | 6.56 | 6.59 | 9.54 | 5.85 | 7.78 | 7.96 | 10.84 | 8.83 | 9.32 | 8.68 | 12.05 | 9.29 | 7.77 | 8.78 |
Ethos
Ethos
3,052.10
-144.30
(-4.51%)
Market Cap
₹8,166.72 Cr
PE Ratio
80.17
Volume
40,789.00
Day High - Low
₹3,201.90 - ₹3,037.50
52W High-Low
₹3,245.90 - ₹1,931.84
Key Fundamentals
Market Cap
8,166.72 Cr
EPS
39.33
PB Ratio
5.31
Book Value
535.94
EBITDA
214.40
Dividend Yield
0.00 %
Industry
Consumer Goods Sector
Jewellery & Watches ROE Growth %
-
Debt to Equity
0.23
Analyst Rating and Forecast
- By Refinitiv from1 analysts
Actual
Company News
View All News
Ethos Limited reported revenue growth of 29.5% to Rs 738.8 crore in H1 FY26 compared to Rs 570.4 crore in H1 FY25. The company opened 16 new boutiques during April-September 2025, expanding from 73 boutiques to 86 boutiques across 26 cities. EBITDA increased 7.8% to Rs 78.3 crore with margins at 10.4%. Same-store sales growth (SSSG) stood at 16.5% versus 15.5% in H1 FY25. The company faced margin pressure due to INR depreciation against CHF, with the exchange rate moving from 96.98 to 111.25, resulting in an estimated forex loss of Rs 10.7 crore. Average selling price per watch increased to Rs 2.18 lakh. The company added 4 new exclusive brands and opened its first Messika boutique and second Rimowa boutique. Billing from second movement watches grew 25% year-on-year.
Ethos Limited Reports No Deviations in Rights Issue Fund Utilization for Quarter Ended September 30, 2025Nov 08, 2025
Ethos Limited informed stock exchanges that there were no deviations or variations in the utilization of proceeds from its Rights Issue for the quarter ended September 30, 2025. The company raised funds for three main purposes: funding working capital requirements (Rs. 31,000 lacs allocated, Rs. 20,389.52 lacs utilized for vendor and salary payments), general corporate purposes (Rs. 9,611.48 lacs allocated, no proceeds utilized during the quarter), and issue-related expenses (Rs. 379.02 lacs allocated, Rs. 10.53 lacs utilized for intermediary fees, advertisement, marketing, and regulatory expenses). All fund utilization aligned with the original objects mentioned in the placement document filed with NSE, BSE, and the Registrar of Companies, Himachal Pradesh.
Ethos Limited Reports No Deviations in IPO Fund Utilization for Quarter Ended September 30, 2025
Nov 08, 2025
Nov 08, 2025Ethos Limited informed stock exchanges that there were no deviations in the utilization of Initial Public Offering proceeds for the quarter ended September 30, 2025. The company had raised Rs. 40,226 lakh through its IPO, comprising fresh issuance of Rs. 37,500 lakh and offer for sale of Rs. 2,726 lakh. The funds were allocated across five objectives: repayment of borrowings (Rs. 2,989.09 lakh), working capital requirements (Rs. 23,496.22 lakh), establishment of new stores and renovation (Rs. 3,327.28 lakh), ERP software upgradation (Rs. 198.01 lakh), and general corporate purposes (Rs. 3,609.87 lakh). Most fund categories have been fully utilized, with the company having previously faced delays in store establishment due to mall operations not commencing and GRAP restrictions in Delhi NCR. The timeline for utilizing remaining funds under store establishment has been extended to June 30, 2026.
View more
Peer Comparison Compare Peers on Screener
Competitors | LTP | Market Cap (₹ Cr.) | P/E Ratio | Revenue (₹ Cr.) | YoY Revenue Growth % | Net Profit (₹ Cr.) | YoY Profit Growth % | RSI |
|---|---|---|---|---|---|---|---|---|
3,907.70 | #1 3,46,920.20 | 83.88 | 60,942.00 | 18.07 | #1 3,337 | 59.09 | 65.15 | |
505.35 | 52,180.05 | 55.88 | 25,189.70 | 35.27 | 714 | 99.92 | 54.27 | |
3,254.00 | 10,114.09 | 53.42 | 4,916.30 | 28.29 | 119 | #1 434.29 | 67.07 | |
629.65 | 8,544.88 | 29.22 | 7,728.60 | 26.30 | 218 | 127.22 | 44.74 | |
558.10 | 8,445.19 | -52.48 | 1,830.00 | - | -222 | 38.34 | 33.52 | |
3,052.10 | #6 8,166.72 | #8 80.17 | #9 1,275.90 | #8 24.77 | #8 96 | #10 11.74 | 60.02 | |
186.53 | 5,507.48 | 42.70 | #1 4,23,099.00 | 50.61 | 95 | 128.29 | 51.88 | |
331.10 | 5,127.54 | 29.28 | 3,581.00 | #1 104.72 | 133 | 82.56 | 41.85 | |
311.15 | 5,094.10 | #1 21.01 | 6,382.60 | 20.80 | 159 | 303.31 | 35.76 | |
397.90 | 4,493.00 | 31.92 | 800.60 | 29.82 | 117 | 42.08 | 59.80 |
Automatic Screeners on ScanX
Growth Rate
Revenue Growth
24.77 %
Net Income Growth
15.61 %
Cash Flow Change
-165.86 %
ROE
4.03 %
ROCE
-4.56 %
EBITDA Margin (Avg.)
-2.04 %
Quarterly Financial Results
Balance Sheet
| Balance Sheet | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Total Assets | 301 | 425 | 394 | 504 | 880 | 1,171 | 1,410 |
| Fixed Assets | 22 | 32 | 113 | 130 | 197 | 230 | 401 |
| Current Assets | 251 | 275 | 257 | 336 | 639 | 864 | 891 |
| Capital Work in Progress | 5 | 1 | 4 | 0 | 4 | 9 | 31 |
| Investments | 0 | 0 | 1 | 2 | 2 | 25 | 36 |
| Other Assets | 275 | 392 | 276 | 373 | 677 | 907 | 942 |
| Total Liabilities | 301 | 425 | 394 | 504 | 880 | 1,171 | 1,410 |
| Current Liabilities | 150 | 175 | 148 | 163 | 150 | 171 | 180 |
| Non Current Liabilities | 18 | 98 | 89 | 109 | 99 | 116 | 248 |
| Total Equity | 134 | 152 | 157 | 232 | 632 | 884 | 982 |
| Reserve & Surplus | 109 | 134 | 139 | 213 | 608 | 860 | 958 |
| Share Capital | 17 | 18 | 18 | 19 | 23 | 25 | 25 |
Cash Flow
| Cash Flow | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Net Cash Flow | 0 | 2 | 9 | 19 | -10 | 33 | -32 |
| Investing Activities | -13 | -15 | -10 | -24 | -256 | -123 | 47 |
| Operating Activities | -22 | 37 | 64 | 17 | -2 | 31 | -20 |
| Financing Activities | 35 | -20 | -45 | 27 | 249 | 125 | -58 |
Share Holding
| % Holding | Jan 2021 | May 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Jul 2025 | Sept 2025 |
| Promoter | 82.32 % | 64.92 % | 65.16 % | 65.16 % | 64.68 % | 64.68 % | 63.82 % | 63.82 % | 57.89 % | 55.72 % | 54.71 % | 51.21 % | 50.79 % | 50.58 % | 50.58 % | 50.59 % | 50.59 % |
| FIIs | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 6.70 % | 0.00 % | 11.28 % | 11.21 % | 12.28 % | 12.60 % | 12.56 % | 13.13 % | 12.93 % | 13.29 % |
| DIIs | 0.00 % | 4.08 % | 3.62 % | 7.45 % | 9.31 % | 9.76 % | 10.51 % | 9.65 % | 10.20 % | 13.08 % | 14.05 % | 15.64 % | 16.58 % | 17.85 % | 18.18 % | 18.48 % | 19.96 % |
| Government | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % |
| Public / Retail | 0.00 % | 12.88 % | 11.87 % | 13.02 % | 12.58 % | 12.71 % | 13.62 % | 14.65 % | 14.54 % | 14.69 % | 14.76 % | 15.32 % | 14.71 % | 13.94 % | 13.04 % | 12.70 % | 11.38 % |
| Others | 17.68 % | 18.11 % | 19.35 % | 14.37 % | 13.43 % | 12.86 % | 12.05 % | 5.18 % | 17.37 % | 5.22 % | 5.28 % | 5.55 % | 5.31 % | 5.07 % | 5.07 % | 5.31 % | 4.79 % |
| No of Share Holders | 248 | 19,428 | 12,709 | 13,256 | 13,862 | 14,685 | 15,955 | 21,657 | 27,067 | 29,715 | 32,330 | 35,858 | 39,756 | 42,900 | 41,464 | 42,141 | 40,447 |
Corporate Action
| Record Date | Corporate Action | Information | Announcement Day | LTP at Annoucement | LTP at Record Day |
|---|---|---|---|---|---|
| 27 Sept 2024 |  Annual General Meeting | NA | 27 Sept 2024 | 3,181.89 | 3,224.68 |
| 08 Nov 2024 |  Quarterly Result Announcement | NA | 08 Nov 2024 | 2,721.96 | 2,811.75 |
| 14 Feb 2025 | Quarterly Result Announcement | NA | 14 Feb 2025 | 2,461.74 | 2,198.60 |
| 05 May 2025 | Quarterly Result Announcement | NA | 05 May 2025 | 2,447.93 | 2,453.53 |
| 12 Jun 2025 |  Rights | 4:43 | 12 Jun 2025 | 2,761.90 | 2,899.69 |
| 14 Aug 2025 | Quarterly Result Announcement | NA | 14 Aug 2025 | 2,846.20 | 2,776.35 |
| 15 Sept 2025 | Annual General Meeting | NA | 15 Sept 2025 | 2,543.70 | 2,369.55 |
| 08 Nov 2025 | Quarterly Result Announcement | NA | 08 Nov 2025 | 2,899.75 | 2,851.10 |
Announcements
Announcement under Regulation 30 (LODR)-Monitoring Agency ReportNov 11, 2025
Nov 11, 2025Announcement under Regulation 30 (LODR)-Monitoring Agency ReportNov 11, 2025
Nov 11, 2025Announcement under Regulation 30 (LODR)-Monitoring Agency ReportNov 11, 2025
Nov 11, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationNov 10, 2025
Nov 10, 2025Announcement under Regulation 30 (LODR)-Investor PresentationNov 08, 2025
Nov 08, 2025Statement Of Deviation Or Variation In The Use Of Proceeds Of Rights Issue Of Ethos Limited For The Quarter Ended September 30 2025Nov 08, 2025
Nov 08, 2025Statement Of Deviation Or Variation In The Use Of Proceeds Of Qualified Institutional Placement Of Ethos Limited For The Quarter Ended September 30 2025Nov 08, 2025
Nov 08, 2025Statement Of Deviation And Variation In The Use Of Proceeds Of Initial Public Offering Of Ethos Limited For The Quarter Ended September 30 2025Nov 08, 2025
Nov 08, 2025Board Meeting Outcome for Outcome Of The Board Meeting Held On November 08 2025Nov 08, 2025
Nov 08, 2025Board Meeting Intimation for Intimation Of Board Meeting For Consideration And Approval Of Unaudited Financial Results (Standalone And Consolidated) For The Quarter And Half Year Ended September 30 2025Oct 31, 2025
Oct 31, 2025Opening Of Ethos Summit Boutique At Pitampura New DelhiOct 27, 2025
Oct 27, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Oct 13, 2025
Oct 13, 2025Opening Of RIMOWA Boutique At DLF Emporio New DelhiOct 03, 2025
Oct 03, 2025Opening Of Ethos Haute Horology Boutique At MumbaiOct 03, 2025
Oct 03, 2025Closure of Trading WindowSep 27, 2025
Sep 27, 2025Opening Of New Ethos Watch Boutiques At Hyderabad Telangana.Sep 24, 2025
Sep 24, 2025Regarding Relocation Of Second Movement BoutiqueSep 22, 2025
Sep 22, 2025Regarding Relocation Of Second Movement BoutiqueSep 22, 2025
Sep 22, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationSep 22, 2025
Sep 22, 2025Shareholder Meeting / Postal Ballot-Scrutinizers ReportSep 16, 2025
Sep 16, 2025Opening Of Ethos Watch Boutiques At Select Citywalk Saket New DelhiSep 15, 2025
Sep 15, 2025Appointment Of Secretarial Auditor Of The CompanySep 15, 2025
Sep 15, 2025Shareholder Meeting / Postal Ballot-Outcome of AGMSep 15, 2025
Sep 15, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationSep 09, 2025
Sep 09, 2025Opening Of Jacob & Co. Boutique At Jio World Plaza MumbaiAug 29, 2025
Aug 29, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 25, 2025
Aug 25, 2025Letter To Shareholders Regarding Notice Of The 18Th Annual General MeetingAug 24, 2025
Aug 24, 2025Business Responsibility and Sustainability Reporting (BRSR)Aug 23, 2025
Aug 23, 2025Reg. 34 (1) Annual Report.Aug 23, 2025
Aug 23, 2025Notice Of The 18Th Annual General Meeting (AGM) Of The Company Scheduled To Be Held On Monday September 15 2025 At 11:00 AM (1ST) Through Video Conference/Other Audio Visual Means.Aug 23, 2025
Aug 23, 2025Announcement under Regulation 30 (LODR)-AcquisitionAug 23, 2025
Aug 23, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 23, 2025
Aug 23, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 19, 2025
Aug 19, 2025Announcement under Regulation 30 (LODR)-Monitoring Agency ReportAug 14, 2025
Aug 14, 2025Announcement under Regulation 30 (LODR)-Monitoring Agency ReportAug 14, 2025
Aug 14, 2025Statement Of Deviation Or Variation In The Use Of Proceeds Of Qualified Institutional Placement Of Ethos Limited For The Quarter Ended June 30 2025Aug 14, 2025
Aug 14, 2025Statement Of Deviation Or Variation In The Use Of Proceeds Of Initial Public Offering Of Ethos Limited For The Quarter Ended June 30 2025Aug 14, 2025
Aug 14, 2025Announcement under Regulation 30 (LODR)-Investor PresentationAug 14, 2025
Aug 14, 2025Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015Aug 14, 2025
Aug 14, 2025Board Meeting Outcome for Outcome Of Board Meeting Held On 14Th August 2025Aug 14, 2025
Aug 14, 2025Intimation Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 - Dilution Of Stake In Ethos Lifestyle Private Limited (Formerly RF Brands Private Limited)Aug 13, 2025
Aug 13, 2025Board Meeting Intimation for Consideration And Approval Of Unaudited Financial Results For The Quarter Ended June 30 2025.Aug 07, 2025
Aug 07, 2025Intimation Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 - Dilution Of Stake In Ethos Lifestyle Private Limited (Formerly RF Brands Private Limited)Jul 16, 2025
Jul 16, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Jul 14, 2025
Jul 14, 2025Disclosures under Reg. 29(2) of SEBI (SAST) Regulations 2011Jul 09, 2025
Jul 09, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationJul 08, 2025
Jul 08, 2025Announcement under Regulation 30 (LODR)-AllotmentJul 04, 2025
Jul 04, 2025Board Meeting Outcome for Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 As Amended (SEBI Listing Regulations) For Allotment Of Equity Shares On Rights BasisJul 04, 2025
Jul 04, 2025Closure of Trading WindowJun 27, 2025
Jun 27, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationJun 18, 2025
Jun 18, 2025Mutual Fund Holdings
Quant Consumption Fund Direct - Growth 
ICICI Prudential Exports and Services Fund Direct-Growth 
Motilal Oswal Nifty Microcap 250 Index Fund Direct - Growth 
Union Innovation & Opportunities Fund Direct - Growth 
Groww Nifty Total Market Index Fund Direct - Growth 
Angel One Nifty Total Market Index Fund Direct - Growth 
Mirae Asset Nifty Total Market Index Fund Direct-Growth 
Bandhan Nifty Total Market Index Fund Direct-Growth 
Bank of India Mid & Small Cap Equity & Debt Fund Direct-Growth 
Invesco India Multicap Fund Direct-Growth 
Helios Mid Cap Fund Direct-Growth Technical Indicators
RSI(14)
Neutral 74.87
ATR(14)
Less Volatile 99.75
STOCH(9,6)
Overbought 82.75
STOCH RSI(14)
Overbought 100.00
MACD(12,26)
Bullish 26.59
ADX(14)
Weak Trend 24.89
UO(9)
Bearish 60.77
ROC(12)
Uptrend And Accelerating 14.57
WillR(14)
Overbought -9.83
we are part of Raise Financial Services
built with love
for indians who love to invest & trade
Market Community
Follow us on
