Ethos opens 102nd boutique in Vizag, Andhra Pradesh

Ethos Limited has inaugurated a new Ethos Watch Boutique at UG-37, Inorbit Malls, Vizag, Andhra Pradesh, expanding its retail footprint to 102 boutiques across India. This strategic move strengthens the company's luxury brand portfolio and consolidates its presence in a prominent luxury retail market. The new outlet aims to make exclusive global watch brands more accessible to discerning customers in the region.

The inauguration marks a significant milestone in the company's expansion strategy. By increasing its store count, Ethos Limited continues to deliver unparalleled luxury experiences aligned with its vision. The boutique features an elegant design with dark wood paneling, glass display cases, and modern lighting fixtures, alongside digital displays showcasing watch advertisements.

Expansion Details

The new boutique is located in Inorbit Malls, a key commercial hub in Vizag. The store exterior features the 'ethos WATCH BOUTIQUES' logo in both English and Telugu, catering to the local demographic. The interior layout is designed to enhance the customer experience with a focus on aesthetics and product visibility.

Feature	Description
Location	UG-37, Inorbit Malls, Vizag, Andhra Pradesh
Total Boutiques	102
Design Elements	Dark wood paneling, glass display cases, modern lighting

Strategic Vision

Ethos Limited's expansion reflects its commitment to growing its network across India. The addition of the Vizag boutique supports the company's objective of strengthening its market position. The filing was signed by Munish Gupta, Chief Financial Officer, on June 23, 2026.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE04TZ01018/347085f4415944cc.pdf

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.94%	-1.05%	+2.52%	-12.12%	-9.86%	+219.38%

Ethos Limited has disclosed that the Commissioner (Appeals-III), CGST & Central Excise, Mumbai, has dismissed its appeals and upheld penalties totaling ₹2,15,78,391. The order, dated May 29, 2026, was received by the company via email on June 04, 2026. The penalties were imposed under Section 122(1)(ii) of the Central Goods and Services Tax Act, 2017, concerning alleged contraventions which the company disputes.

The company stated that it is currently evaluating the order and the appropriate legal remedies available to it, including a further appeal before the competent appellate authority. Ethos Limited believes it has adequate grounds to contest the matter. Management confirmed that the order does not have any material impact on the operations of the company.

Key Details of the Order

The disclosure, made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, outlines the specifics of the communication received from the regulatory authority. The table below summarizes the material particulars of the order and the company's response.

Particulars	Details
Authority	Commissioner (Appeals-III), CGST & Central Excise, Mumbai
Date of Order	May 29, 2026
Date of Receipt	June 04, 2026
Penalty Amount	₹2,15,78,391
Relevant Section	Section 122(1)(ii) of the Central Goods and Services Tax Act, 2017
Status of Appeal	Dismissed
Company Action	Evaluating further legal remedies and considering a further appeal

Financial and Operational Impact

Regarding the financial implications, the company noted that there is no immediate financial impact. The penalty amount of ₹2,15,78,391 is subject to the outcome of the legal remedies available to the company. Ethos Limited is reviewing the order in consultation with its legal advisors to determine the appropriate course of action.

The company reiterated that it disputes the allegations and is contesting the matter through appellate remedies. No restrictions or other sanctions have been imposed on the company apart from the upheld penalties. The disclosure was signed by Munish Gupta, Chief Financial Officer, on June 05, 2026.