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26
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Ethos Limited is a premium and luxury watch retailer operating 89 boutiques across 27 cities and 19 states in India, retailing over 80 global brands with 49 exclusive relationships while offering Certified Pre-Owned watches and an in-house Swiss-equipment service centre for after-sales support.
Financially, Ethos reported consolidated 9MFY26 revenue of Rs. 1,198.2 crore, up 27.4% year-on-year, with EBITDA increasing though margins compressed due to CHF/INR currency movements and incremental costs from new store rollouts; reported PAT after minority interest was broadly flat at Rs. 72.8 crore.
Strategically, Ethos is prioritising network expansion and premium positioning: it opened 21 boutiques in 9MFY26, entered new cities like Ranchi, and added lifestyle and mono-brand boutiques to deepen customer engagement and diversify merchandise mix.
Near-term headwinds include significant CHF/INR appreciation that produced an estimated Rs. 14.3 crore gross margin impact and a one-time gratuity restatement due to the new Labour Code; management emphasises calibrated pricing and brand-equity protection over full immediate pass-through.
Operational indicators show resilient demand: Certified Pre-Owned (CPO) billing grew 26% YoY, same-store sales increased 14.1%, and Average Selling Price averaged Rs. 2.08 lakhs, suggesting robust premium customer purchasing despite margin headwinds.
Consumer Durables
Gems, Jewellery And Watches
6,428 Cr
Moderate Risk
67.0
50.2
1.6
4.5
3,244.45
1,921.00
Sales CAGR
Profit CAGR
ROE
ROCE
Discovery themes featuring this stockEthos Ltd (ETHOSLTD) is currently trading at 2,406.50 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.
Ethos Limited is a premium and luxury watch retailer operating 89 boutiques across 27 cities and 19 states in India, retailing over 80 global brands with 49 exclusive relationships while offering Certified Pre-Owned watches and an in-house Swiss-equipment service centre for after-sales support. Financially, Ethos reported consolidated 9MFY26 revenue of Rs. 1,198.2 crore, up 27.4% year-on-year, with EBITDA increasing though margins compressed due to CHF/INR currency movements and incremental costs from new store rollouts; reported PAT after minority interest was broadly flat at Rs. 72.8 crore. Strategically, Ethos is prioritising network expansion and premium positioning: it opened 21 boutiques in 9MFY26, entered new cities like Ranchi, and added lifestyle and mono-brand boutiques to deepen customer engagement and diversify merchandise mix. Near-term headwinds include significant CHF/INR appreciation that produced an estimated Rs. 14.3 crore gross margin impact and a one-time gratuity restatement due to the new Labour Code; management emphasises calibrated pricing and brand-equity protection over full immediate pass-through. Operational indicators show resilient demand: Certified Pre-Owned (CPO) billing grew 26% YoY, same-store sales increased 14.1%, and Average Selling Price averaged Rs. 2.08 lakhs, suggesting robust premium customer purchasing despite margin headwinds.
Over the past 52 weeks, Ethos Ltd has traded between a low of ₹1,921.00 and a high of ₹3,244.45. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.
Ethos Ltd has a market capitalization of approximately 6,427.73. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.
Ethos Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of 66.96 and operates in the its sector sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.
Based on its market capitalization of 6,427.73 Cr, Ethos Ltd is classified as a Small Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.
Ethos Ltd operates in the its sector sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.
The Price-to-Earnings (PE) ratio of Ethos Ltd is 66.96. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.
| Symbol | Watchlist | Price | Market Cap | P/E | P/B | Div Yield (%) | ROE (%) | ROCE (%) | ROA (%) |
9.53 | 9,108 Cr | 13.88 | 1.06 | 0.00 | 8.49 | 8.38 | 7.36 | ||
580.00 | 8,883 Cr | 23.28 | 5.22 | 0.00 | 17.44 | 15.27 | 8.79 | ||
547.15 | 7,689 Cr | 518.12 | 4.27 | 0.00 | 0.82 | 6.38 | 0.27 | ||
362.30 | 7,026 Cr | 30.64 | 6.78 | 0.00 | 17.87 | 16.40 | 11.81 | ||
2421.65 | 6,428 Cr | 66.96 | 4.48 | 0.00 | 6.63 | 8.64 | 4.49 | ||
326.45 | 5,130 Cr | 10.69 | 2.43 | 0.32 | 11.83 | 10.74 | 8.16 | ||
339.20 | 4,258 Cr | 27.20 | 4.17 | 0.75 | 13.50 | 18.96 | 13.20 | ||
| Median: 7 Co. | — | 362.30 | 7,026 Cr | 27.20 | 4.27 | 0.00 | 11.83 | 10.74 | 8.16 |
Related-party acquisition
Ethos Limited acquired 189,480 shares of Ethos Lifestyle Pvt Ltd from promoter Mr. Pranav S. Saboo at ₹1,069/share (≈₹20.26 crore), raising its stake from 75.05% to 77.42% on April 30, 2026; transaction is related-party, arm's length, cash consideration.
Related-party acquisition
Ethos Limited acquired 189,480 shares of subsidiary Ethos Lifestyle Pvt Ltd from promoter Pranav Shankar Saboo at ₹1,069/share for ~₹20.26 crore, raising its stake from 75.05% to 77.42% (2.37% increase).
