ETHOS LIMITED
₹2,503.30-₹12.55 (-0.5%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹7,246 Cr
- P/E
- 74.4x
- EV / EBITDA
- 40.5x
- Revenue
- ₹1,252 Cr
- Net margin
- 8.1%
- ROCE
- 15.2%
Price chart
Technical chartScreen technicals →-13.7% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -1.4%
- 3M
- -1.4%
- 6M
- +4.2%
- 1Y
- -13.7%
- 5Y
- +234.6%
52-week range
Day change -₹12.55 (-0.5%) from ₹2,516 to ₹2,503 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in ETHOSLTD, bought on each weekday since 2022.
AI Summary
Indian StockStrengths1
- Strong 5-year revenue CAGR of 17.0%
Concerns1
- Low return on equity of 9.2%
Rule-based from financial data. Not advice.
About the company
Ethos Limited operates a chain of luxury watch boutiques in India. The company offers luxury and premium watches; pre-owned watches; jewellery and jewellery boxes; watch straps, stands, and winders; clocks; collector boxes; and luggage products. It also provides product repair and services, including movement overhauling, battery replacement, ultrasonic cleaning, polishing, performance tests, and watch parts and strap replacement. The company sells its products through online channels. Ethos Limited was founded in 2003 and is headquartered in Gurugram, India.
- Sector
- Consumer Discretionary
- Shares outstanding
- 2.7 Cr shares
- ISIN
- INE04TZ01018
- BSE code
- 543532
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹7,246 Cr
- P/E
- 74.4x
- P/B
- 5.1x
- EV / EBITDA
- 40.5x
- EV / Sales
- 7.2x
- P/S
- 7.3x
- Earnings yield
- 1.3%
- 52-week high
- ₹3,187.55
- 52-week low
- ₹2,007.70
Profitability
- Operating margin
- 15.6%
- Net margin
- 8.1%
- EBITDA margin
- 17.8%
- ROE
- 9.2%
- ROCE
- 15.2%
- ROA
- 6.9%
- Dividend payout
- 0.0%
- Tax rate
- 25.0%
- Other income, % of PBT
- 20.2%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹1,252 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 25.5%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 17.0%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹178 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 32.8%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 21.0%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹31.0 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -720.0%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹35.0 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 33.0%
Solvency and efficiency
- Current ratio
- 6.48
- Debt / Equity
- 0.16
- Debt / Assets
- 0.12
- Debt / EBITDA
- 0.81
- Interest coverage
- 7.09
- Financial leverage
- 1.33
- CFO / Net profit
- 0.38
- Cash / Market cap
- 12.5%
- Cash per share
- ₹337.85
- Asset turnover
- 0.85
- Fixed asset turnover
- 4.36
- Capital intensity
- 0.23
- Debtor days
- 6 days
- Inventory turnover
- 1.59
- Cash conversion cycle
- 184 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹8 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹1,054 Cr |
| Sales | Operating profit | ₹198 Cr |
| Operating profit | Interest | ₹27 Cr |
| Operating profit | Depreciation | ₹63 Cr |
| Operating profit | Profit before tax | ₹108 Cr |
| Other income | Profit before tax | ₹24 Cr |
| Profit before tax | Tax and other | ₹34 Cr |
| Profit before tax | Net profit | ₹98 Cr |
Revenue and net profit
Revenue grew 25.5% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹387 Cr | ₹5 Cr |
| FY2022 | ₹577 Cr | ₹23 Cr |
| FY2023 | ₹789 Cr | ₹60 Cr |
| FY2024 | ₹998 Cr | ₹81 Cr |
| FY2025 | ₹1,252 Cr | ₹98 Cr |
Cash flows
FY2025: -₹21.0 Cr from operations, ₹24.0 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹62 Cr | ₹52 Cr |
| FY2022 | ₹17 Cr | -₹6 Cr |
| FY2023 | -₹5 Cr | -₹259 Cr |
| FY2024 | ₹31 Cr | -₹92 Cr |
| FY2025 | -₹21 Cr | ₹24 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹1,252 Cr+25.5%1Y
- Net profit
- ₹98 Cr+21.0%1Y
- Cash from operations
- -₹21 Cr
- Free cash flow
- ₹24 Cr
- Revenue CAGR, 5Y
- 17.0%
- EBITDA CAGR, 5Y
- 24.7%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹1,252 Cr | ₹198 Cr | — | ₹98 Cr | -₹21 Cr | ₹24 Cr | 10.0% | +25.5% | +21.0% |
Monthly returns
Month-by-month returns of ETHOSLTD across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹1,396 Cr |
| Equity capital | ₹24 Cr |
| Reserves | ₹956 Cr |
| Borrowings | ₹278 Cr |
| Other liabilities | ₹138 Cr |
| Assets | ₹1,396 Cr |
| Fixed assets | ₹390 Cr |
| Capital work in progress | ₹30 Cr |
| Investments | ₹46 Cr |
| Other assets | ₹930 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
ETHOSLTD trades at 74.4x earnings against a peer median of 55.4x (a 34% premium).
Not shown (no positive earnings and no EV / Sales): Sapphire Foods India Limited, BlueStone Jewellery and Lifestyle Limited.
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| ETHOS LIMITEDETHOSLTDthis companyP/E ↑ premium | ₹7,246 Cr | 74.4x | 5.1x | 9.2% | 40.5x |
| WESTLIFE FOODWORLD LIMITEDWESTLIFE | ₹7,980 Cr | 513.0x | 15.6x | 11.8% | 133.0x |
| V2 Retail LimitedV2RETAIL | ₹7,764 Cr | 75.1x | 18.9x | 9.8% | 54.1x |
| Campus Activewear LimitedCAMPUS | ₹7,736 Cr | 62.5x | 9.7x | 13.7% | 36.1x |
| PC JEWELLER LIMITEDPCJEWELLER | ₹7,548 Cr | 12.3x | 1.0x | -22.4% | -82.3x |
| Sapphire Foods India LimitedSAPPHIRE | ₹7,287 Cr | — | 5.9x | 4.1% | 18.4x |
| BlueStone Jewellery and Lifestyle LimitedBLUESTONE | ₹7,200 Cr | — | 4.3x | -40.8% | 90.3x |
| REDTAPE LimitedREDTAPE | ₹7,135 Cr | 36.5x | 8.3x | 26.9% | 23.1x |
| Mrs. Bectors Food Specialities LimitedBECTORFOOD | ₹7,094 Cr | 63.4x | 6.3x | 20.1% | 30.9x |
| Peer median | — | 55.4x | 6.3x | 11.8% | 36.3x |
Year-to-date ROI
ETHOSLTD since 1 January, against earlier years.
Historical volatility
ETHOSLTD's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 11.0% |
| FY2022 | 12.0% |
| FY2023 | 15.0% |
| FY2024 | 16.0% |
| FY2025 | 16.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹1,252 Cr |
| Costs | |
| Interest | ₹27 Cr |
| Expenses | ₹1,054 Cr |
| Operating profitOperating Profit | ₹198 Cr |
| Other income and charges | |
| Profit before tax | ₹132 Cr |
| Tax | |
| Net profitNet Profit | ₹98 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹1,396 Cr |
| Equity capitalEquity Capital | ₹24 Cr |
| Reserves | ₹956 Cr |
| Borrowings | ₹278 Cr |
| Other liabilitiesOther Liabilities | ₹138 Cr |
| AssetsTotal Assets | ₹1,396 Cr |
| Fixed assetsFixed Assets | ₹390 Cr |
| Capital work in progressCWIP | ₹30 Cr |
| Investments | ₹46 Cr |
| Other assetsOther Assets | ₹930 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | -₹21 Cr |
| Investing cash flowCash from Investing Activity | ₹45 Cr |
| Financing cash flowCash from Financing Activity | -₹58 Cr |
| Change in cashNet Cash Flow | -₹35 Cr |
Learn while you research
Academy chapters picked for ETHOS LIMITED and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 74.4, learn when high multiples are justified.6 min read
- 04 Growth Investing25% revenue growth is in the top tier, learn how to value growth.7 min read
- 05 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 06 Cyclical vs Defensive StocksConsumer staples behave defensively across the business cycle.6 min read