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Ethos Ltd
NSE:ETHOSLTD

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Ethos Ltd
NSE:ETHOSLTD
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Price: 2 982 INR -4.25% Market Closed
Market Cap: 79.8B INR

Ethos Ltd
Investor Relations

Ethos Ltd is a IN-based company operating in Specialty Retail industry. The company is headquartered in Chandigarh, Chandigarh. The company went IPO on 2022-05-30. Ethos Ltd is an India-based vertical specialist in luxury watches and accessories. The firm is engaged in the trading of watches, accessories and luxury items, marketing and support services, and rendering of related after sale services. The company delivers a content-led luxury retail experience to customers through its online and physical presence. The company offers an omnichannel experience to customers through its Website and social media platforms. The Company’s segments include watch and accessories, and marketing and other support services. The company has a portfolio of luxury watch brands, such as Omega, IWC Schaffhausen, Jaeger LeCoultre, Panerai, Bvlgari, H. Moser & Cie, Rado, Longines, Baume & Mercier, Oris SA, Corum, Carl F. Bucherer, Tissot, Raymond Weil, Louis Moinet and Balmain. The Company’s subsidiary Cognition Digital LLP (Cognition), which is engaged in the business of developing and implementing information technologies (IT) and conducting IT-based businesses.

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ETHOSLTD
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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
May 15, 2025
AI Summary
Q4 2025

Strong Revenue Growth: Ethos reported a 25.3% year-on-year revenue increase to INR 1,252 crores for FY '24-'25, driven by store expansion and category diversification.

Margin Improvement: Gross margins rebounded to 31%, with management expecting further structural improvement over the long term.

Network Expansion: 14 new boutiques were opened, bringing the total to 73, with a target to exceed 100 boutiques in the current year.

Inventory Buildup: Inventory increased to INR 593 crores as of March 2025, mainly due to new store openings and prearrangement for future launches.

Diversification: Ethos entered new luxury segments—opening India's largest horological project, launching the Messika jewelry boutique, and expanding the Rimowa luggage brand.

Pre-owned Segment Growth: The pre-owned watch segment grew over 30% year-on-year, with expansion plans in place.

International Foray: The company established an exploratory subsidiary in the UAE to tap into the pre-owned and retail markets there.

Positive Demand Outlook: Management reported strong demand in April and minimal concern about demand impact from tariffs or price increases.

Key Financials
Revenue
INR 1,252 crores
EBITDA
INR 161 crores
Profit Before Tax
INR 141 crores
Inventory
INR 593 crores
Number of Boutiques
73
Gross Margin
31%
Pre-owned Segment Growth
over 30% year-on-year
Overall Volume Growth
15.5% year-on-year
Average Selling Price
up 7.4% year-on-year
Rimowa Mumbai Store Billing Value
INR 20–24 crores
Exclusive Brands Share Q4
over 30%
Other Earnings Calls

Management

Mr. Yashovardhan Saboo Ahmedabad), B.A (Hons.)., MBA (IIM
Chairman & MD
No Bio Available
Mr. Pranav Shankar Saboo
CEO, Additional MD & Director
No Bio Available
Mr. Manoj Subramaniam
Additional Whole Time Director
No Bio Available
Mr. Munish Gupta
Chief Financial Officer
No Bio Available
Mr. Mukul K. Khanna
Chief Operating Officer
No Bio Available
Mr. Anil Kumar
Company Secretary & Compliance Officer
No Bio Available
Mr. Saurabh Shrivastava
Vice President of Human Resource
No Bio Available
Ms. Juhi Chaturvedi
Head of the Merchandising Department
No Bio Available
Mr. Rajesh Pandey
National Sales Head
No Bio Available
Mr. Sparsh Arun
Head of VIP Sales
No Bio Available

Contacts

Address
CHANDIGARH
Chandigarh
Kamla Centre, Sco 88-89, Sector 8-C
Contacts