Ethos Limited has delivered a mixed third quarter performance, showcasing robust revenue growth and improved EBITDA alongside steady profitability, though facing some margin compression challenges. The luxury watch and jewelry retailer demonstrated strong business momentum with significant top-line expansion while navigating operational efficiency dynamics.

Strong Revenue and EBITDA Performance

The company achieved remarkable financial growth during the quarter, with total revenue reaching ₹4.7 billion compared to ₹3.7 billion in the corresponding quarter of the previous year, representing a substantial year-on-year increase of 27.03%. EBITDA performance showed solid improvement, rising to ₹606 million from ₹551 million in the same quarter last year, marking a 10.00% year-on-year growth.

Profitability and Margin Analysis

While maintaining steady profit growth, Ethos reported net profit of ₹306 million for Q3, representing a 3.03% increase from ₹297 million in the same quarter last year. However, the company experienced margin compression with EBITDA margin declining to 12.86% from 14.89% in the previous year, indicating some pressure on operational efficiency despite absolute growth in earnings.

Business Performance Assessment

The significant revenue growth of 27% indicates strong market demand for Ethos's luxury watch and jewelry offerings, while the 10% EBITDA growth demonstrates the company's ability to generate improved absolute earnings. However, the margin compression from 14.89% to 12.86% suggests increased operational costs or competitive pricing pressures that warrant attention.

Market Position and Operational Dynamics

The robust financial performance reflects Ethos's strengthening position in the luxury retail segment, with substantial revenue expansion indicating successful market penetration. The combination of strong top-line growth with moderate bottom-line improvement suggests the company is investing in expansion while managing operational challenges. This performance indicates strong consumer demand and effective business execution, though margin management remains a key focus area for sustainable profitability.

Ethos Limited has announced that its Board of Directors will convene on February 6, 2026, to review and approve the company's unaudited financial results for the third quarter of fiscal year 2026. The meeting will address both standalone and consolidated financial results for the quarter and nine months ended December 31, 2025.

Board Meeting Details

The company has formally notified the stock exchanges about the upcoming board meeting in accordance with regulatory requirements. The meeting is scheduled to take place on Friday, February 6, 2026, and will focus on the financial performance review for the specified period.

Trading Window Restrictions

In compliance with insider trading regulations, Ethos Limited has implemented trading window restrictions for designated persons. The trading window closure is part of the company's adherence to the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015.

Regulatory Compliance

The announcement was made pursuant to Regulation 29(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has communicated this information to both BSE Limited and National Stock Exchange of India Limited, ensuring full compliance with listing requirements.

Company Information

Ethos Limited operates with multiple office locations across India. The company maintains its registered office in Parwanoo, Himachal Pradesh, while its corporate office is located in Chandigarh. The head office is situated in Gurugram, Haryana, reflecting the company's multi-location operational structure.

The formal communication was signed by Shubham Kandhway, Company Secretary and Compliance Officer, on January 29, 2026, ensuring proper documentation and regulatory adherence for the upcoming financial results review.