Ethos Limited has published the Notice of Postal Ballot in newspapers on June 3, 2026, to seek shareholder approval for the appointment of Mr. Munish Gupta as a Whole-time Director, Executive Director, and Chief Financial Officer. The notice was published in The Financial Express across multiple editions and in the Himachal Times. The appointment requires approval as the proposed remuneration exceeds the managerial remuneration limits calculated on the basis of effective capital under Part II, Section II (Clause A) of Schedule V of the Companies Act, 2013.

The postal ballot notice comprises two resolutions. The first is an ordinary resolution for the appointment of Mr. Munish Gupta (DIN – 09350096) as a Director of the Company. The second is a special resolution for his appointment as Whole-time Director with the functional designation of Executive Director and Chief Financial Officer, along with the payment of remuneration. Mr. Gupta was initially appointed as an Additional Director by the Board on May 12, 2026.

Remuneration Details

The Board, based on the recommendations of the Nomination & Remuneration Committee and the Audit Committee, has approved a remuneration structure for Mr. Gupta. The total remuneration is projected to rise from ₹ 144.0 Lacs in 2025-26 to ₹ 209.0 Lacs in 2028-29. Additionally, he will be entitled to a Long-Term Incentive Plan (LTIP) of ₹ 75 Lacs upon completion on March 31, 2029, subject to employment continuity and performance expectations.

*Variable pay shall not exceed 20% of the total remuneration.

E-Voting Schedule

The company has engaged KFin Technologies Limited as the Registrar and Transfer Agent to facilitate the remote e-voting process. The e-voting facility is available to members whose email addresses are registered with the depositories or the company as of the cut-off date, Friday, May 29, 2026.

Mr. Munish Gupta is a qualified Chartered Accountant and holds an Executive MBA from the Indian Institute of Management Ahmedabad. He possesses over 20 years of experience across sectors such as construction, hospitality, IT/travel, startup, and FMCG. He has been associated with Ethos Limited since March 1, 2024, serving as the Chief Financial Officer. The Board has recommended the passage of these resolutions, stating that his appointment would strengthen the company's leadership structure and financial oversight.

Ethos Limited has inaugurated its 100th boutique at Treasure Island Mall in Indore, marking a defining milestone in the company's journey as India's largest luxury watch retailer. The announcement was made through a regulatory filing under Regulation 30, communicated to both BSE Limited and the National Stock Exchange of India Limited, and accompanied by a press release for general dissemination.

New Boutique in Indore

The newly launched boutique is located at G-12A, Ground Floor, Treasure Island Mall, 11 Tukoganj Main Road, Indore. The boutique offers an exceptional range of prestigious international watch brands spanning luxury, premium, and sports segments. This opening follows the recent inauguration of a boutique at Phoenix Mall of Asia in Bengaluru, and brings the company's total network to 100 boutiques spread across 32 cities pan India.

Key details of the latest boutique opening are summarised below:

A Journey of Over Two Decades

This 100-boutique milestone is the result of over two decades of growth, with Ethos expanding from a single boutique to a pan-India network. The company has steadily evolved its retail experience through mono boutiques, Summits, and Haute Horology boutiques. Most notably, Ethos created City of Time in Gurugram — India's first and only 22,000 sq. ft. luxury watch lifestyle destination, featuring a dedicated watchmaking zone, a cigar and private viewing lounge, and an in-house bar, among other offerings.

Leadership Speaks on the Milestone

On this occasion, Pranav Saboo, Managing Director & Chief Executive Officer, Ethos Limited, expressed, "Reaching 100 boutiques is a moment of immense pride for everyone at Ethos — our teams, our brand partners, and above all, our loyal customers who have been part of this journey. Each boutique we have opened is a testament to the trust that watch enthusiasts across India have placed in us. This milestone is not just a number; it is a reflection of a family that has grown together; bound by a shared love for horology and a relentless pursuit of excellence. As we celebrate this landmark, we remain deeply committed to bringing the very best of global watchmaking closer to our customers, wherever they are."

Yashovardhan Saboo, Chairman, Ethos Limited, stated, "Reaching 100 boutiques is a wonderful feeling and an absolutely amazing achievement for the entire Ethos team. What began with a passion for watches and the belief that India was ready for luxury Swiss watches sold in an international and professional way has today become a defining journey for the brand. Over the years, Ethos has always believed in anticipating the future of luxury retail, whether it was opening stores in malls, domestic airports, larger format boutiques or embracing independent brands much before time. More than the number itself, this milestone represents the incredible efforts, dedication and trust of everyone who has been part of the journey. At the core of Ethos' success has been a constant vision backed by strong values, especially respect for our brand partners, customers and above all, our team. As Ethos enters its next chapter, I hope the journey ahead continues to be just as exciting and inspiring."

About Ethos Limited

Ethos Limited is one of India's largest luxury and premium watch retailers, founded in 2003 and publicly listed on BSE Limited and the National Stock Exchange of India Limited since May 30, 2022. Its current portfolio comprises 75+ premium luxury watch brands. Ethos has also marked its foray into jewellery with Messika and became the retailer of German luxury luggage manufacturer RIMOWA in India. The regulatory disclosure was signed by Munish Gupta, Chief Financial Officer of Ethos Limited, on May 15, 2026.

Source: None/Company/INE04TZ01018/618eb2123bfd4110.pdf