ETHOS LIMITED

BSE: ETHOSLTD543532ISIN INE04TZ01018

Consumer Discretionary
Gems, Jewellery And Watches
BSE 1000

Share price

₹2,738.80+96.25 (+3.64%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded. Earlier history is omitted pending corporate-action verification.

52W high: ₹3,244.45
52W low: ₹1,921.00
Off 52W high: -15.59%
1M return: +5.34%
3M return: -3.32%
6M return: +14.18%
1Y return: -7.78%
20D avg volume: 6,709
50 DMA: ₹2,639.95
200 DMA: ₹2,515.32

Key ratios Consolidated

Market cap: ₹7,328 Cr
Current price: ₹2,738.80
52W high / low: ₹3,244.45 / ₹1,921.00
Face value: ₹10.00
P/E: 69.28
P/B: 4.93
EPS (TTM): ₹39.53
Book value / share: ₹556.07
ROE: —
ROCE: 8.40%
Operating margin: —
Net margin: —
Debt / equity: 0.00
Net debt: ₹-143.95 Cr
Interest cover: 5.98
Dividend yield: —
Dividend / share (TTM): —
Payout: —
Cash conversion cycle: 129.3 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	461.71	414.01	468.52	383.39	346.32	311.32	369.93	297.13	273.25	252.52	281.22	235.22
	13.34	13.26	15.51	11.56	5.84	6.03	5.75	6.13	6.39	8.42	6.24	4.27
	475.04	427.27	484.03	394.95	352.15	317.35	375.68	303.26	279.64	260.95	287.46	239.49
	434.28	394.71	439.52	362.00	324.93	285.84	334.81	274.53	248.82	233.31	253.25	214.79
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	377.49	294.07	365.25	318.44	270.29	216.12	311.49	276.27	225.78	187.49	223.94	194.32
	37.00	31.51	33.86	28.17	23.78	21.32	24.34	20.66	19.01	19.39	16.35	17.25
	8.02	7.38	7.59	6.55	5.71	5.20	5.17	4.55	4.53	4.04	4.04	4.14
	26.09	24.66	24.81	20.97	19.02	16.94	16.75	15.00	14.32	12.73	12.52	12.70
	37.03	38.52	40.28	33.95	29.17	27.64	26.42	26.84	18.65	18.27	22.88	18.87
	40.76	32.57	44.50	32.96	27.23	31.51	40.86	28.73	30.83	27.64	34.22	24.70
	0.00	0.00	-1.82	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	40.76	32.57	42.68	32.96	27.23	31.51	40.86	28.73	30.83	27.64	34.22	24.70
	10.47	8.15	11.52	7.95	7.10	7.40	11.13	7.39	7.87	6.71	8.84	6.33
	28.66	22.76	30.57	23.79	19.02	22.75	29.49	21.25	22.80	21.03	25.52	18.59
	10.51	8.20	11.46	8.78	7.77	9.29	12.05	8.68	9.32	8.83	10.84	7.96
Key metrics
	74.87	64.61	75.08	60.48	51.96	53.65	62.78	48.28	49.68	44.41	50.78	41.54
	16.20%	15.60%	16.00%	15.80%	15.00%	17.20%	17.00%	16.20%	18.20%	17.60%	18.10%	17.70%
	6.20%	5.50%	6.50%	6.20%	5.50%	7.30%	8.00%	7.20%	8.30%	8.30%	9.10%	7.90%
	—	2.10%	—	2.10%	—	3.00%	—	—	—	—	—	—
	33.30%	33.00%	26.70%	29.00%	26.70%	23.30%	31.50%	26.30%	—	—	—	—
	50.70%	0.00%	3.70%	12.00%	-16.60%	8.20%	15.60%	14.30%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	1,728	1,612	1,252	998.99	788.53	577.28
	53.67	46.17	24.30	23.62	14.56	12.78
	1,781	1,658	1,276	1,023	803.09	590.06
	1,631	1,521	1,144	911.97	722.91	558.56
	0.00	0.00	0.00	—	—	—
	1,355	1,248	1,030	798.18	634.33	463.29
	130.54	117.32	85.34	70.36	52.68	42.38
	29.54	27.22	19.44	16.02	14.16	16.67
	96.53	89.46	63.00	48.67	34.63	31.51
	149.78	141.93	99.54	78.55	77.06	56.87
	150.79	137.25	131.93	110.64	80.18	31.50
	-1.82	-1.82	0.00	0.00	0.00	0.00
	148.97	135.43	131.93	110.64	80.18	31.50
	38.09	34.71	33.78	28.02	20.38	8.14
	105.78	96.14	96.29	83.30	60.30	23.39
	38.95	36.21	39.33	34.98	—	—
Key metrics
	275.04	252.11	214.37	175.33	128.97	79.68
	15.92%	15.60%	17.10%	17.60%	16.40%	13.80%
	6.12%	6.00%	7.70%	8.30%	7.60%	4.10%
	—	8.40%	12.30%	—	—	—
	30.42%	28.80%	25.30%	26.70%	36.60%	—
	14.34%	-0.20%	15.60%	38.10%	157.80%	—
	—	18.33	-99.62	—	—	—
	—	0.93	-0.21	—	—	—
	—	0.00	0.04	—	—	—
	—	-143.95	15.28	—	—	—
	—	129.3	152.2	—	—	—
Balance sheet
	—	2,197	1,410	—	—	—
	—	1,489	890.52	—	—	—
	—	144.08	28.48	—	—	—
	—	17.50	18.26	—	—	—
	—	695.49	592.67	—	—	—
	—	87.06	48.36	—	—	—
	—	172.17	97.77	—	—	—
	—	142.22	88.76	—	—	—
	—	265.02	179.47	—	—	—
	—	0.13	43.76	—	—	—
	—	0.06	43.63	—	—	—
	—	0.07	0.13	—	—	—
	—	1,664	982.20	—	—	—
Cash flow
	—	89.60	-20.29	—	—	—
	—	-475.52	46.59	—	—	—
	—	501.52	-58.40	—	—	—
	—	71.27	79.33	—	—	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	450.52	402.92	470.86	392.50	346.32	311.32	369.93	297.13	273.25	252.51	281.20	234.19
	10.72	11.13	13.16	10.52	5.72	5.20	6.97	6.37	6.36	6.43	6.56	4.44
	461.24	414.05	484.01	403.02	352.04	316.51	376.90	303.50	279.61	258.94	287.76	238.63
	423.63	386.16	441.12	372.02	324.64	284.53	336.72	274.93	248.78	233.57	253.28	213.98
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	373.81	289.08	365.43	318.44	270.28	216.12	311.49	276.27	225.78	188.16	223.25	193.80
	35.56	30.11	32.45	27.88	23.50	21.10	24.07	20.36	18.54	18.97	15.91	16.79
	7.72	7.07	7.25	6.53	5.70	5.18	5.16	4.54	4.52	4.01	4.03	4.13
	24.63	23.27	23.56	20.93	19.00	16.92	16.72	14.98	14.30	12.57	12.31	12.46
	35.79	38.16	39.70	34.37	29.19	26.59	28.62	27.57	19.12	19.12	23.57	19.29
	37.61	27.90	42.90	30.99	27.40	31.98	40.18	28.57	30.82	25.37	34.49	24.65
	0.00	0.00	-1.72	0.00	0.00	0.00	—	—	—	—	—	—
	37.61	27.90	41.18	30.99	27.40	31.98	40.18	28.57	30.82	25.37	34.49	24.65
	9.62	7.12	10.55	7.79	7.09	7.78	10.44	7.23	7.86	6.36	8.64	6.21
	27.99	20.78	30.64	23.20	20.30	24.21	29.74	21.34	22.96	19.02	25.84	18.44
	10.46	7.73	11.54	9.09	8.29	9.89	12.15	8.72	9.38	7.94	10.98	7.90
Key metrics
	69.96	58.24	71.99	58.45	52.10	54.08	62.06	48.09	49.64	41.95	50.83	41.24
	15.50%	14.50%	15.30%	14.90%	15.00%	17.40%	16.80%	16.20%	18.20%	16.60%	18.10%	17.60%
	6.20%	5.20%	6.50%	5.90%	5.90%	7.80%	8.00%	7.20%	8.40%	7.50%	9.20%	7.90%
	—	2.00%	—	2.20%	—	3.00%	—	—	—	—	—	—
	30.10%	29.40%	27.30%	32.10%	26.70%	23.30%	31.60%	26.90%	—	—	—	—
	37.90%	-14.20%	3.00%	8.70%	-11.60%	27.30%	15.10%	15.70%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	1,717	1,613	1,252	997.93	788.53	577.28
	45.53	40.52	24.89	22.17	15.20	13.48
	1,762	1,653	1,277	1,020	803.73	590.76
	1,623	1,524	1,145	911.51	723.96	559.56
	0.00	0.00	0.00	—	—	—
	1,347	1,243	1,030	797.64	634.32	463.29
	126.00	113.93	84.07	68.56	50.94	40.75
	28.57	26.55	19.40	15.97	14.14	16.65
	92.39	86.75	62.91	48.07	34.53	31.41
	148.02	141.42	101.90	81.09	79.97	59.62
	139.40	129.19	131.55	108.58	79.77	31.21
	-1.72	-1.72	0.00	—	—	—
	137.68	127.47	131.55	108.58	79.77	31.21
	35.08	32.55	33.30	27.29	19.97	7.84
	102.61	94.92	98.25	81.29	59.80	23.36
	38.82	36.27	40.14	34.14	—	12.67
Key metrics
	258.64	240.77	213.86	172.62	128.44	79.27
	15.07%	14.90%	17.10%	17.30%	16.30%	13.70%
	5.98%	5.90%	7.80%	8.10%	7.60%	4.00%
	—	8.90%	12.40%	—	—	—
	29.60%	28.80%	25.40%	26.60%	36.60%	—
	7.34%	-3.40%	20.90%	35.90%	156.00%	—
	—	41.28	-97.92	—	—	—
	—	1.08	-0.21	—	—	—
	—	0.00	0.04	—	—	—
	—	-84.24	17.28	—	—	—
	—	126.6	152.2	—	—	—
Balance sheet
	—	1,996	1,396	—	—	—
	—	1,406	882.80	—	—	—
	—	84.24	24.91	—	—	—
	—	17.36	18.26	—	—	—
	—	680.62	592.67	—	—	—
	—	82.76	48.18	—	—	—
	—	156.31	97.21	—	—	—
	—	138.77	88.82	—	—	—
	—	256.52	177.72	—	—	—
	—	0.00	42.19	—	—	—
	—	0.00	42.19	—	—	—
	—	0.00	0.00	—	—	—
	—	1,481	980.08	—	—	—
Cash flow
	—	102.48	-20.74	—	—	—
	—	-372.15	44.55	—	—	—
	—	329.00	-58.31	—	—	—
	—	61.20	77.18	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +26.93%
Sales CAGR 5Y: —
Profit CAGR 3Y: +16.65%
Profit CAGR 5Y: —
Sales YoY (TTM): +29.60%
Profit YoY (TTM): +7.34%

Consolidated

Sales CAGR 3Y: +26.92%
Sales CAGR 5Y: —
Profit CAGR 3Y: +16.82%
Profit CAGR 5Y: —
Sales YoY (TTM): +30.42%
Profit YoY (TTM): +14.34%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 50.57%

Quarter	September 2026	June 2026
Promoter %	50.57%	50.57%

Holder	Type	Holding	Previous	Change
KDDL LIMITED	Promoter	43.07%	43.07%	0.00%
ICICI PRUDENTIAL EXPORTS AND SERVICES FUND	Public	8.13%	8.23%	-0.10%
INVESCO INDIA FLEXI CAP FUND	Public	7.45%	7.45%	0.00%
MAHEN DISTRIBUTION LIMITED	Promoter	7.04%	7.04%	0.00%
BANDHAN LARGE & MID CAP FUND	Public	2.60%	2.58%	+0.02%
EASTSPRING INVESTMENTS INDIA FUND	Public	2.10%	2.10%	0.00%
QUANT MUTUAL FUND - QUANT SMALL CAP FUND	Public	2.01%	—	—
ALCHEMY CAPITAL MANAGEMENT PVT LTD	Public	1.94%	2.10%	-0.16%
ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED	Public	1.76%	1.51%	+0.25%
HARA GLOBAL CAPITAL MASTER FUND I LTD	Public	1.58%	1.49%	+0.09%
EASTSPRING INVESTMENTS INDIA CONSUMER EQUITY OPEN	Public	1.16%	1.21%	-0.05%
FLC INVESTCO, LLC	Public	1.10%	1.18%	-0.08%
PULKIT.N.SEKHSARIA	Public	1.06%	1.06%	0.00%
JAI VARDHAN SABOO	Promoter Group	0.20%	0.20%	0.00%
SABOO VENTURES LLP	Promoter Group	0.15%	0.15%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Titan Company Limited	4,21,698	4,750.00	73.21	38.40%	+45.05% TTM	+55.12% TTM	+24.58%
Kalyan Jewellers India Limited	54,736	530.00	38.14	27.40%	+45.75% TTM	+79.22% TTM	+1.38%
Lalithaa Jewellery Mart Limited	20,466	365.65	—	—	—	—	—
PC JEWELLER LIMITED	15,418	15.81	17.31	10.30%	+29.27% TTM	+45.80% TTM	+31.09%
Sky Gold And Diamonds Limited	14,375	928.15	35.45	36.00%	+73.01% TTM	+118.85% TTM	+158.54%
Thangamayil Jewellery Limited S	13,364	4,299.50	34.09	34.70%	+78.15% TTM	+113.25% TTM	+41.38%
BlueStone Jewellery and Lifestyle Limited	10,569	691.35	103.94	8.10%	—	—	-2.80%
P N GADGIL JEWELLERS LIMITED	8,562	581.65	17.56	30.50%	+50.66% TTM	+64.36% TTM	-12.63%
ETHOS LIMITED	7,328	2,738.80	69.28	8.40%	+30.42% TTM	+14.34% TTM	-7.78%
Timex Group India Ltd S	6,779	671.50	66.03	65.20%	+44.15% TTM	+83.08% TTM	+81.63%
Senco Gold Limited	5,100	311.15	8.93	33.80%	+41.91% TTM	+168.38% TTM	-6.79%
KDDL Ltd	4,758	3,868.80	31.67	10.40%	+32.48% TTM	+4.32% TTM	+52.02%
Goldiam International Ltd.	4,651	308.95	22.05	20.30%	+27.01% TTM	+63.93% TTM	+12.00%
D P ABHUSHAN LIMITED S	4,424	1,938.00	18.44	45.90%	+30.80% TTM	+93.38% TTM	+28.55%
Tribhovandas Bhimji Zaveri Limited	4,049	606.75	20.61	35.60%	+24.14% TTM	+110.34% TTM	+227.53%
SHRINGAR HOUSE OF MANGALSUTRA LIMITED S	2,809	291.25	23.21	23.30%	—	—	+26.52%
Vaibhav Global Ltd	2,690	160.30	9.64	15.30%	+9.61% TTM	+52.41% TTM	-41.53%
SHANTI GOLD INTERNATIONAL LIMITED	2,089	272.20	—	—	—	—	—
Deepa Jewellers Limited S	2,058	213.00	—	—	—	—	—
PNGS Reva Diamond Jewellery Limited S	2,008	633.40	21.13	18.60%	—	—	—
Khazanchi Jewellers Limited S	1,757	709.90	—	39.50%	—	—	+3.55%
Motisons Jewellers Limited S	1,702	14.96	25.36	18.00%	+10.73% TTM	+48.70% TTM	-8.78%
RENAISSANCE GLOBAL LIMITED	1,534	142.75	14.03	9.10%	+41.39% TTM	+68.44% TTM	+4.96%
Rajesh Exports Ltd. S	1,485	50.30	55.27	3.70%	+17.58% TTM	-3.03% TTM	-72.32%
Shankesh Jewellers Limited S	1,378	98.13	—	—	—	—	—

Filings & corporate actions

Recent announcements

Ethos Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 12/11/2026 ,inter alia, to consider and approve Unaudited Financial Results for the quarter ....4 Nov 2026 · Board Meeting / Board Meeting
Opening of RIMOWA boutique at Bengaluru30 Oct 2026 · Company Update / General
Opening of Ethos Summit at Mumbai29 Oct 2026 · Company Update / General
Disclosure under Regulation 30 of SEBI (LODR) Regulations, 201515 Oct 2026 · Company Update / General
Compliance Certificate under Reg 74(5) of SEBI (DP) Regulations, 20186 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Intimation of Change in Management under SEBI (LODR) Reg 20155 Oct 2026 · Company Update / Change in Management
Closure of Trading Window for dealing in securities of the Company by all Designated Persons and their immediate relatives as defined in the Code, shall be closed from Thursday, 1st October, ....25 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Intimation of Schedule of Analyst/Institutional Investor meeting under the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 201523 Sep 2026 · Company Update / Analyst / Investor Meet
Scrutinizer''s Report15 Sep 2026 · AGM/EGM / AGM
Summary Proceedings of 19th Annual General Meeting15 Sep 2026 · AGM/EGM / AGM
Intimation of Change in Schedule of Analyst/ Institutional Investor meeting under the SEBI (Listing Obligations and Disclosure Requirements), Regulation, 201511 Sep 2026 · Company Update / Analyst / Investor Meet
Intimation of Schedule of Analyst/ Institutional Investor meet under the SEBI (Listing Obligation and Disclosure Requirements) Regulation, 20159 Sep 2026 · Company Update / Analyst / Investor Meet
Intimation of Schedule of Analyst/Institutional Investor meeting under the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 20159 Sep 2026 · Company Update / Analyst / Investor Meet
Ethos Limited MD & CEO, Pranav Shankar Saboo joins the Jury of the Grand Prix d'' Horlogerie de Geneve (GPHG) India26 Aug 2026 · Company Update / Press Release / Media Release
Newspaper Publication with regard to the Notice of 19th Annual General Meeting ("AGM") and Information on E-voting Disclosure21 Aug 2026 · Company Update / Newspaper Publication
Letter providing the weblink for accessing the Notice of AGM and Annual Report for FY 2025-2620 Aug 2026 · AGM/EGM / AGM
BRSR for the FY 2025-2620 Aug 2026 · Others / Business Responsibility and Sustainability Reporting (BRSR)
Annual Report for the financial year 2025-2620 Aug 2026 · Others / Reg. 34 (1) Annual Report
Notice of the 19th Annual General Meeting20 Aug 2026 · AGM/EGM / AGM
Copies of Newspaper Publication with regards to the 19th Annual General Meeting ("AGM") scheduled to be held on Tuesday, September 15, 2026 through Video Conferencing("VC") / other Audio ....19 Aug 2026 · Company Update / Newspaper Publication
Intimation regarding the 19th Annual General Meeting ("AGM") of the Members of the Company for FY 2025-2614 Aug 2026 · Company Update / General
Intimation of Resignation of Independent Director in continuation of earlier disclosure filed on August 03, 20265 Aug 2026 · Company Update / Resignation of Director
Newspaper Publication4 Aug 2026 · Company Update / Newspaper Publication
Monitoring Agency Report3 Aug 2026 · Company Update / Monitoring Agency Report
Statement of Deviation and Variation3 Aug 2026 · Company Update / Reg. 32 (1), (3) - Statement of Deviation & Variation
Investor Presentation3 Aug 2026 · Company Update / Investor Presentation
Intimation of Resignation of Independent Director with effect from conclusion of Board Meeting held on August 3, 20263 Aug 2026 · Company Update / Resignation of Director
Outcome of Board Meeting held on August 3, 20263 Aug 2026 · Board Meeting / Outcome of Board Meeting
Opening of Ethos Watch Boutiques at Amritsar.29 Jul 2026 · Company Update / General
Ethos Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 03/08/2026 ,inter alia, to consider and approve Unaudited Financial Results (Standalone ....27 Jul 2026 · Board Meeting / Board Meeting
Appointment of Company Secretary and Compliance Officer9 Jul 2026 · Company Update / Appointment of Company Secretary / Compliance Officer
Compliance Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 20188 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Scrutinizer''s Report4 Jul 2026 · AGM/EGM / Postal Ballot
Intimation of Voting Results of Postal Ballot4 Jul 2026 · AGM/EGM / Postal Ballot
Press Release- Ethos Limited to Host the Prestigious Grand Prix d''Horlogerie de Geneve (GPHG) Exhibition in India2 Jul 2026 · Company Update / Press Release / Media Release
Closure of Trading Window26 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
Opening of Ethos Watch Boutiques at Vizag, Andhra Pradesh23 Jun 2026 · Company Update / General
Disclosure under Regulation 30 of SEBI (LODR) Regulations, 20155 Jun 2026 · Company Update / General
Opening of Ethos Watch Boutiques at Indira Gandhi International Airport, Delhi4 Jun 2026 · Company Update / General
Newspaper Publication of Notice of Postal Ballot3 Jun 2026 · Company Update / Newspaper Publication

Corporate actions

Purpose	Ex date	Record date	Payment date
Right Issue of Equity Shares	12 Jun 2025	12 Jun 2025	—

Board meetings

3 Aug 2026 Board Meeting - Financial Results