Ethos

Why is Ethos Ltd falling/rising?

As of 11-Jun, Ethos Ltd's stock price is declining, currently at 2,358.15, reflecting a bearish trend with a total drop of 2.8% over the last two days and underperformance compared to the market. Despite some positive financial indicators, investor confidence is low, contributing to the stock's downward pressure.

As of 11-Jun, Ethos Ltd's stock price is falling, currently at 2,358.15, reflecting a decrease of 26.4 points or 1.11%. The stock has been underperforming, with a consecutive decline over the last two days, resulting in a total drop of 2.8% during this period. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend.<BR><BR>Investor participation has also decreased, as evidenced by a delivery volume of 5.26k on June 10, which is down 11.5% compared to the 5-day average. This decline in trading activity suggests a lack of confidence among investors. Furthermore, the stock has significantly underperformed the market over the past year, with a return of -22.43% compared to the broader market's negative return of -5.53%.<BR><BR>While there are some positive factors, such as a strong ability to service debt and healthy long-term growth in net sales and operating profit, these have not been sufficient to counterbalance the negative sentiment surrounding the stock. The company's valuation appears expensive, with a Price to Book Value of 4.2, which is higher than its peers, and its return on equity stands at a low 6.5. These factors contribute to the prevailing downward pressure on Ethos Ltd's stock price.

What does Ethos do?

Ethos Ltd operates luxury watch boutiques and is categorized as a Small Cap company with a market cap of INR 6,436 Cr. For the quarter ending March 2026, it reported net sales of 414 Cr and a net profit of 22 Cr.

Overview: <BR>Ethos Ltd operates a chain of luxury watch boutiques in the Gems, Jewellery and Watches industry and is categorized as a Small Cap company.<BR><BR>History: <BR>Ethos Ltd was originally incorporated as Kamla Retail Limited in 2007. The company changed its name to Ethos Limited in 2012. The most recent quarterly results reported net sales and net profit for the period ending March 2026.<BR><BR>Financial Snapshot: <BR>Net Sales: 414 Cr (Quarterly Results - Mar 2026) <BR>Net Profit: 22 Cr (Quarterly Results - Mar 2026) <BR>Market Cap: INR 6,436 Cr (Small Cap)<BR><BR>Key Metrics: <BR>P/E: 65.00 <BR>Industry P/E: 42 <BR>Dividend Yield: 0.00% <BR>Debt-Equity: -0.23 <BR>Return on Equity: 6.49% <BR>Price to Book: 4.37 <BR><BR>Contact Details: <BR>Address: Plot No 3, Sector III Parwanoo Himachal Pradesh : 173220 <BR>Tel: 91 1792 232 462/233 402 <BR>Email: anil.dhiman@ethoswatches.com <BR>Website: http://www.ethoswatches.com

Which are the latest news on Ethos?

How big is Ethos?

As of 10th June, Ethos Ltd has a market capitalization of 6,436.00 Cr, with recent net sales of 1,612.24 Cr and a net profit of 95.24 Cr. The latest balance sheet shows shareholder's funds of 982.20 Cr and total assets of 1,400.23 Cr.

As of 10th June, Ethos Ltd has a market capitalization of 6,436.00 Cr, categorizing it as a Small Cap company.<BR><BR>In the latest four quarters, Ethos reported Net Sales of 1,612.24 Cr and a Net Profit of 95.24 Cr.<BR><BR>The latest annual period for the balance sheet is March 2025, showing Shareholder's Funds of 982.20 Cr and Total Assets of 1,400.23 Cr.

Who are in the management team of Ethos?

The management team of Ethos includes Chairman & Managing Director Yashovardhan Saboo, along with several independent directors and executives, such as Anil Khanna, Sundeep Kumar, and Manoj Gupta, bringing diverse expertise to the company.

The management team of Ethos includes the following key members:<BR><BR>1. **Yashovardhan Saboo** - Chairman & Managing Director<BR>2. **Anil Khanna** - Independent Director<BR>3. **Sundeep Kumar** - Independent Director<BR>4. **DILPREET SINGH** - Independent Director<BR>5. **Mohaimin Altaf** - Independent Director<BR>6. **Manoj Gupta** - Executive Director<BR>7. **Anil Kumar** - Company Secretary & Compliance Officer<BR>8. **Chitranjan Agarwal** - Director<BR>9. **Charu Chandra Sharma** - Independent Director<BR>10. **Munisha Gandhi** - Director<BR><BR>This team brings a diverse range of expertise and leadership to the company.

Who are the peers of the Ethos?

Ethos' peers include Thangamayil Jew., PC Jeweller, Bluestone Jewel, Sky Gold & Diam., P N Gadgil Jew., Senco Gold, Goldiam Intl., Timex Group, and Vaibhav Global. Ethos has good management and capital structure, with a 1-year return of -22.43%, outperforming PC Jeweller but underperforming Thangamayil Jew. at 178.69%.

Peers: The peers of Ethos are Thangamayil Jew., PC Jeweller, Bluestone Jewel, Sky Gold & Diam., P N Gadgil Jewe., Senco Gold, Goldiam Intl., Timex Group, and Vaibhav Global.<BR><BR>Quality Snapshot: Excellent management risk is observed at Thangamayil Jew., Sky Gold & Diam., P N Gadgil Jewe., and Senco Gold, while Good management risk is found at Ethos, Goldiam Intl., Timex Group, and Vaibhav Global. Below Average management risk is noted at PC Jeweller and Bluestone Jewel. For growth, Excellent growth is seen at Thangamayil Jew., Bluestone Jewel, Sky Gold & Diam., P N Gadgil Jewe., Ethos, Senco Gold, Timex Group, and KDDL Ltd, while Average growth is found at Goldiam Intl. and Below Average growth at PC Jeweller and Vaibhav Global. In terms of capital structure, Good capital structure is present at P N Gadgil Jewe., Ethos, Timex Group, and Goldiam Intl., while Average capital structure is noted at Thangamayil Jew. and Senco Gold, and Below Average at PC Jeweller, Bluestone Jewel, Sky Gold & Diam.<BR><BR>Return Snapshot: The peer with the highest 1-year return is Thangamayil Jew. at 178.69%, while the lowest is PC Jeweller at -32.20%. Ethos has a 1-year return of -22.43%, which is higher than PC Jeweller but lower than Thangamayil Jew. Additionally, the peers with negative six-month returns include PC Jeweller, P N Gadgil Jewe., and Vaibhav Global.

Are Ethos Ltd latest results good or bad?

Ethos Ltd's latest results show strong revenue growth of 32.99% to ₹414.01 crores, but net profit fell by 27.70% quarter-on-quarter and 3.30% year-on-year, indicating concerns about profitability and operational efficiency. Overall, while revenue growth is positive, the decline in profit and margins raises red flags for future performance.

Ethos Ltd's latest results present a mixed picture. On one hand, the company achieved impressive top-line growth, with net sales increasing by 32.99% year-on-year to ₹414.01 crores. However, this revenue growth did not translate into bottom-line success. The consolidated net profit for the quarter fell to ₹22.00 crores, marking a significant decline of 27.70% quarter-on-quarter and a 3.30% decrease year-on-year.<BR><BR>Moreover, the operating profit margin (excluding other income) contracted sharply to 12.40%, down from 15.30% in the same quarter last year. This margin compression, alongside a drop in profitability metrics, raises concerns about the company's operational efficiency and the sustainability of its aggressive expansion strategy in the luxury watch retail segment.<BR><BR>Overall, while the revenue growth is commendable, the substantial decline in profit and margins indicates underlying challenges that could impact the company's future performance. Therefore, the results can be seen as concerning, particularly regarding profitability and operational efficiency.

Should I buy, sell or hold Ethos Ltd?

When is the next results date for Ethos Ltd?

The next results date for Ethos Ltd is 12 May 2026.

The next results date for Ethos Ltd is scheduled for 12 May 2026.

Is Ethos Ltd technically bullish or bearish?

As of December 2, 2025, the technical trend is bullish with moderate strength, supported by a bullish MACD and moving averages, although caution is advised due to a mildly bearish monthly MACD.

As of 2 December 2025, the technical trend has changed from mildly bullish to bullish. The current technical stance is bullish with moderate strength. Key indicators driving this stance include a bullish MACD on the weekly chart and bullish moving averages on the daily chart. The KST is also bullish on both weekly and monthly time frames, reinforcing the positive outlook. However, the monthly MACD remains mildly bearish, indicating some caution. Overall, the bullish trend is supported by the daily moving averages and weekly KST, despite mixed signals from the monthly indicators.

How has been the historical performance of Ethos Ltd?

Ethos Ltd has shown consistent growth in net sales and profitability over the past six years, with net sales increasing from INR 386.57 crore in March 2021 to INR 1,251.63 crore in March 2025, and profit after tax rising from INR 4.62 crore to INR 98.15 crore. The company has also expanded its total assets significantly while effectively managing its liabilities.

Answer:<BR>The historical performance of Ethos Ltd shows a consistent growth trajectory in net sales and profitability over the past six years.<BR><BR>Breakdown:<BR>Ethos Ltd's net sales have increased significantly from INR 386.57 crore in March 2021 to INR 1,251.63 crore in March 2025, reflecting a robust growth trend. Total operating income has followed a similar pattern, rising from INR 457.85 crore in March 2020 to INR 1,251.63 crore in March 2025. The total expenditure, excluding depreciation, has also grown, reaching INR 1,061.56 crore in March 2025, up from INR 346.85 crore in March 2021. Operating profit (PBDIT) has shown a strong upward movement, climbing from INR 39.72 crore in March 2021 to INR 214.37 crore in March 2025. Profit before tax has surged from INR 6.58 crore in March 2021 to INR 131.93 crore in March 2025, while profit after tax has increased from INR 4.62 crore to INR 98.15 crore over the same period. The consolidated net profit has also risen from INR 4.76 crore in March 2021 to INR 96.29 crore in March 2025. The company's total assets have expanded from INR 417.39 crore in March 2020 to INR 1,400.23 crore in March 2025, indicating strong asset growth. Conversely, total liabilities have increased from INR 417.39 crore to INR 1,400.23 crore, with a notable reduction in long-term borrowings from INR 25.17 crore in March 2021 to INR 1.96 crore in March 2025. Cash flow from operating activities has fluctuated, showing a negative cash flow of INR 20 crore in March 2025, while cash flow from investing activities has improved significantly to INR 46 crore in the same period. Overall, Ethos Ltd has demonstrated a strong growth trajectory in sales and profitability, alongside a substantial increase in assets, while managing its liabilities effectively.

Who are the top shareholders of the Ethos Ltd?

The top shareholders of Ethos Ltd include Kddl Limited with 47.03%, mutual funds at 15.56%, foreign institutional investors at 12.56%, and the ICICI Prudential Long Term Wealth Enhancement Fund at 6.85%. Individual investors collectively hold 13.94% of the shares.

The top shareholders of Ethos Ltd include Kddl Limited, which holds the highest stake at 47.03%. The company also has significant institutional backing, with mutual funds holding 15.56% across 10 schemes and foreign institutional investors (FIIs) holding 12.56% through 67 different entities. Additionally, the highest public shareholder is the ICICI Prudential Long Term Wealth Enhancement Fund, which owns 6.85%. Individual investors collectively hold 13.94% of the shares.

Is Ethos Ltd overvalued or undervalued?

As of November 11, 2024, Ethos Ltd is considered very expensive and overvalued with a PE ratio of 72.58 and an EV to EBITDA of 37.13, significantly higher than its peers, despite strong past returns of 262.77% over three years, but a disappointing year-to-date performance of -1.04% compared to the Sensex's 5.57%.

As of 11 November 2024, Ethos Ltd's valuation grade has moved from expensive to very expensive, indicating a significant increase in perceived overvaluation. The company is currently assessed as overvalued, with a PE ratio of 72.58, an EV to EBITDA of 37.13, and a PEG ratio of 4.65, all of which are considerably high compared to industry norms. <BR><BR>In comparison to its peers, Page Industries Ltd. has a PE ratio of 70.7 and an EV to EBITDA of 48.32, while Jubilant FoodWorks Ltd. shows a PE ratio of 203.42 but a more favorable EV to EBITDA of 31.75. These figures highlight that Ethos Ltd is trading at a premium relative to its peers, reinforcing the conclusion that it is overvalued. Additionally, while Ethos Ltd has shown strong returns over the past three years at 262.77%, its year-to-date performance of -1.04% contrasts with the Sensex's 5.57%, suggesting potential challenges ahead.

Has Ethos Ltd declared dividend?

No Dividend History Available