Ethos Ltd
Ethos Limited (“Ethos”) was incorporated on November 5, 2007 and promoted by KDDL Limited. Ethos is India’s largest luxury and premium watch retail player
- Market Cap ₹ 7,614 Cr.
- Current Price ₹ 3,110
- High / Low ₹ 3,525 / 1,889
- Stock P/E 85.4
- Book Value ₹ 378
- Dividend Yield 0.00 %
- ROCE 14.6 %
- ROE 10.7 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 48.5% CAGR over last 5 years
Cons
- Stock is trading at 8.22 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -3.50%
- Company has a low return on equity of 11.9% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Retail Industry: Trading
Part of BSE Allcap BSE Consumer Discretionary BSE SmallCap Nifty Microcap 250 Nifty Total Market
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|---|
325 | 356 | 442 | 456 | 387 | 577 | 789 | 998 | 1,104 | |
320 | 342 | 413 | 402 | 345 | 507 | 669 | 841 | 939 | |
Operating Profit | 5 | 14 | 29 | 53 | 42 | 71 | 119 | 156 | 165 |
OPM % | 2% | 4% | 7% | 12% | 11% | 12% | 15% | 16% | 15% |
1 | 2 | 2 | 6 | 17 | 13 | 15 | 22 | 26 | |
Interest | 11 | 7 | 8 | 24 | 20 | 21 | 20 | 22 | 17 |
Depreciation | 4 | 4 | 5 | 35 | 32 | 31 | 35 | 48 | 54 |
Profit before tax | -8 | 5 | 18 | 1 | 6 | 31 | 80 | 109 | 119 |
Tax % | -28% | 23% | 39% | 98% | 26% | 25% | 25% | 25% | |
-6 | 4 | 11 | 0 | 5 | 23 | 60 | 81 | 89 | |
EPS in Rs | -4.61 | 2.51 | 6.63 | 0.02 | 2.55 | 12.24 | 25.61 | 33.21 | 36.43 |
Dividend Payout % | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 18% |
3 Years: | 37% |
TTM: | 22% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 49% |
3 Years: | 160% |
TTM: | 27% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | 63% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 10% |
3 Years: | 12% |
Last Year: | 11% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
---|---|---|---|---|---|---|---|---|---|
Equity Capital | 13 | 16 | 17 | 18 | 18 | 19 | 23 | 24 | 24 |
Reserves | 32 | 76 | 115 | 134 | 139 | 213 | 608 | 857 | 902 |
88 | 63 | 77 | 175 | 140 | 161 | 121 | 145 | 179 | |
82 | 95 | 91 | 100 | 98 | 114 | 128 | 144 | 169 | |
Total Liabilities | 215 | 250 | 300 | 427 | 396 | 507 | 880 | 1,170 | 1,274 |
10 | 17 | 22 | 128 | 112 | 129 | 197 | 229 | 274 | |
CWIP | 0 | 0 | 5 | 1 | 4 | -0 | 4 | 9 | 11 |
Investments | -0 | 0 | 0 | 4 | 4 | 6 | 7 | 30 | 30 |
205 | 232 | 273 | 294 | 275 | 373 | 672 | 903 | 959 | |
Total Assets | 215 | 250 | 300 | 427 | 396 | 507 | 880 | 1,170 | 1,274 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|
4 | -1 | 35 | 62 | 17 | -5 | 31 | ||
-2 | -12 | -13 | -10 | -23 | -254 | -123 | ||
2 | 11 | -20 | -45 | 27 | 249 | 124 | ||
Net Cash Flow | 4 | -2 | 2 | 7 | 20 | -10 | 32 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|
Debtor Days | 2 | 7 | 6 | 8 | 12 | 3 | 3 | 6 |
Inventory Days | 244 | 230 | 214 | 242 | 256 | 222 | 228 | 230 |
Days Payable | 93 | 104 | 73 | 83 | 97 | 77 | 66 | 51 |
Cash Conversion Cycle | 152 | 133 | 148 | 167 | 171 | 148 | 165 | 184 |
Working Capital Days | 107 | 112 | 120 | 128 | 132 | 117 | 131 | 138 |
ROCE % | 8% | 14% | 9% | 8% | 15% | 17% | 15% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Resignation of Director
21 Nov - Resignation of Whole time Director Mr. Manoj Subramanian.
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Announcement under Regulation 30 (LODR)-Resignation of Director
21 Nov - Resignation of Whole time Director Mr. Manoj Subramanian.
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript 12 Nov
- Announcement under Regulation 30 (LODR)-Newspaper Publication 9 Nov
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
8 Nov - Audio recording of earnings conference call for Q2 results.
Annual reports
Concalls
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Nov 2024Transcript PPT REC
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Aug 2024Transcript PPT REC
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT REC
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Aug 2023Transcript PPT REC
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May 2023Transcript PPT
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Feb 2023Transcript PPT
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Nov 2022Transcript PPT
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Nov 2022TranscriptNotesPPT
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Aug 2022Transcript PPT
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Jun 2022Transcript PPT
Largest Luxury watch company[1] Ethos is India’s largest luxury and premium watch retail player having 13% share of the total retail sales in premium and luxury segment and 20% share when seen in the exclusive luxury segment in FY20.