Ethos
- Market cap
- ₹ 6,479 Cr.
- P/E
- 61.1x
- P/B
- 4.42x
- 52-week range
- 1,919.4 – 3,245.9
- ROE
- 8%
- ROCE
- 10%
- Dividend yield
- 0%
- Debt / equity
- 0.22
- Sector
- Consumer Durables
- Industry
- Gems, Jewellery And Watches
- Listed on
- NSE, BSE
About
Ethos Limited is an India-based luxury and premium watch retailer. The Company's business consists of retail trading of premium and luxury watches, accessories and other luxury items and rendering of related after-sale services. Its portfolio consists of premium, bridge-to-luxury, luxury, and high-luxury watches. The Company has approximately 94 stores in India and over 70 premium luxury watch brands. The Company retails various brands, such as Rolex, Alpina, Angelus, Arnold & Son, Baume & Mercier, Bell & Ross, Bianchet, Bovet, Breitling, Bremont, Longines, Titoni, Tissot, Omega, MeisterSinger, and Maurice Lacroix, and BVLGARI. It offers various types of watches, such as automatic watches, mechanical watches, quartz watches, tourbillon watches, world timer watches, chronograph watches and perpetual calendar watches. Its repairs and services include Ethos Watch Care. It also offers high-end luggage and premium jewelry through Rimowa and Messika Boutiques.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Gems, Jewellery And Watches: 107 companies →Ethos against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)61.1 against a typical 20.9: pricier than most peers (1st = cheapest).89th of 106
- Sales growth+33.5% against a typical +34.8% from a year earlier.41st of 79
- Profit growth+52.6% against a typical +33.3% from a year earlier.29th of 73
- Share price, 3 months−4.9% against a typical +3.3%.56th of 92
- Size₹ 6,479.4 Cr. market value against a typical ₹ 145.6 Cr. (1st = largest).9th of 94
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Adequate safety
Rated A+ by ICRA- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| ICRA | [ICRA]A+ | Stable | 6 Feb 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 6 Feb 2026 | Rating action | [ICRA]A+ | — | ICRA | ₹ 135 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 3 Aug 2026 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2026 |
| 12 May 2026 | Financial Results | To consider and approve the financial results for the period ended March 31, 2026 |
| 6 Feb 2026 | Financial Results | To consider and approve the financial results for the period ended December 31, 2025 |
| 8 Nov 2025 | Financial Results | To consider and approve the financial results for the quarter and half year ended September 30, 2025 |
| 14 Aug 2025 | Financial Results | To consider and approve the Un-audited Financial Results (Standalone and Consolidated) of the Company for the quarter ended June 30, 2025. |
| 6 Jun 2025 | Fund Raising | Prior Intimation for seeking approval of the Board for fixing record date, price, entitlement ratio etc. |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 235 | 281 | 253 | 273 | 297 | 370 | 311 | 346 | 383 | 469 | 414 | 462 |
| Expenses | 198 | 237 | 217 | 230 | 255 | 313 | 265 | 301 | 336 | 408 | 364 | 402 |
| Operating Profit | 37 | 45 | 36 | 43 | 42 | 57 | 46 | 45 | 48 | 61 | 50 | 60 |
| OPM % | 16% | 16% | 14% | 16% | 14% | 15% | 15% | 13% | 12% | 13% | 12% | 13% |
| Other Income | 4 | 6 | 9 | 6 | 6 | 6 | 6 | 6 | 12 | 14 | 13 | 13 |
| Interest | 4 | 4 | 4 | 5 | 5 | 5 | 5 | 6 | 7 | 8 | 7 | 8 |
| Depreciation | 13 | 13 | 13 | 14 | 15 | 17 | 17 | 19 | 21 | 25 | 25 | 26 |
| Profit before tax | 25 | 34 | 28 | 31 | 29 | 41 | 30 | 26 | 32 | 42 | 31 | 39 |
| Tax % | 25% | 26% | 24% | 26% | 26% | 27% | 25% | 27% | 25% | 27% | 26% | 27% |
| Net Profit | 19 | 26 | 21 | 23 | 21 | 29 | 23 | 19 | 24 | 31 | 23 | 29 |
| EPS in Rs | 7.29 | 9.52 | 7.85 | 8.51 | 7.93 | 11 | 8.49 | 7.11 | 8.89 | 11.37 | 8.22 | 10.51 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- —
- 5 Years
- 33%
- 3 Years
- 27%
- TTM
- 30%
- 10 Years
- —
- 5 Years
- 83%
- 3 Years
- 17%
- TTM
- 14%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- 22%
- TTM
- —
- 10 Years
- —
- 5 Years
- 10%
- 3 Years
- 9%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Ethos | ₹ 2,455.00 | ₹ 6,479 Cr. | 61.1x | 4.4x | 8% | — |
| Titan Company | ₹ 4,299.00 | ₹ 3,81,659 Cr. | 79.9x | 26.3x | 37.1% | 5.8% |
| PC Jeweller | ₹ 18.07 | ₹ 17,547 Cr. | 11.7x | 1x | 10% | 21.3% |
| BlueStone Jewellery and Lifestyle Ltd | ₹ 731.05 | ₹ 11,126 Cr. | 570.5x | 5.1x | 1.1% | 0.5% |
| Senco Gold | ₹ 308.90 | ₹ 5,063 Cr. | 10.4x | 2.4x | 25.6% | 6.8% |
| Goldiam International | ₹ 290.70 | ₹ 4,377 Cr. | 30.5x | 4.7x | 18.5% | 17.5% |
Management
- Yashovardhan Saboo
- Executive Chairman, Managing Director
- Pranav Shankar Saboo
- Chief Executive Officer, Managing Director, Executive Director
- Munish Gupta
- Chief Financial Officer, Additional Executive Director
- Priya Grover
- Compliance Officer, Company Secretary
Prices are delayed and for information only. Nothing on this page is investment advice.