Ethos Ltd

Ethos Ltd Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Ethos Ltd

₹ 2,932 -1.24%
21 Nov 4:00 p.m.
ethoswatches.com BSE: 543532 NSE: ETHOSLTD
About

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

Key Points

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.

Website BSE NSE
  • Market Cap ₹ 7,181 Cr.
  • Current Price ₹ 2,932
  • High / Low ₹ 3,525 / 1,782
  • Stock P/E 79.3
  • Book Value ₹ 379
  • Dividend Yield 0.00 %
  • ROCE 14.9 %
  • ROE 10.9 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 44.0% CAGR over last 5 years

Cons

  • Stock is trading at 7.73 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 12.0% 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 Nifty Microcap 250 BSE Allcap BSE Consumer Discretionary BSE SmallCap Nifty Total Market

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
134 195 159 174 178 230 208 230 235 281 253 273 297
122 169 138 147 152 194 182 196 198 237 217 230 255
Operating Profit 13 26 21 27 26 36 26 34 37 45 36 43 42
OPM % 10% 13% 13% 16% 15% 16% 12% 15% 16% 16% 14% 16% 14%
3 3 2 2 4 4 5 5 4 6 9 6 6
Interest 4 4 5 4 3 3 3 4 4 4 4 5 5
Depreciation 8 9 8 8 8 9 9 11 13 13 13 14 15
Profit before tax 4 16 10 17 18 28 18 24 25 34 28 31 29
Tax % 25% 26% 25% 25% 25% 25% 25% 25% 25% 26% 24% 26% 26%
3 12 8 13 14 21 13 18 19 26 21 23 21
EPS in Rs 1.45 6.42 4.11 5.48 5.81 8.85 5.69 7.78 7.96 10.42 8.59 9.31 8.68
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
444 458 387 577 789 999 1,104
407 402 344 505 668 841 938
Operating Profit 36 56 43 72 120 158 166
OPM % 8% 12% 11% 12% 15% 16% 15%
2 2 17 13 15 24 27
Interest 11 24 20 21 20 22 17
Depreciation 5 33 33 32 35 49 55
Profit before tax 22 2 7 32 81 111 121
Tax % 39% 168% 29% 26% 25% 25%
13 -1 5 23 60 83 91
EPS in Rs 7.91 -0.73 2.61 12.26 25.83 34.02 37.00
Dividend Payout % 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: 44%
3 Years: 160%
TTM: 28%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 47%
Return on Equity
10 Years: %
5 Years: 10%
3 Years: 12%
Last Year: 11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 17 18 18 19 23 24 24
Reserves 117 132 139 213 608 859 904
69 174 140 161 121 145 180
98 98 96 111 127 142 167
Total Liabilities 301 422 394 504 880 1,171 1,275
22 125 113 130 197 230 275
CWIP 5 1 4 0 4 9 11
Investments 0 1 1 2 2 25 25
275 296 276 373 677 907 964
Total Assets 301 422 394 504 880 1,171 1,275

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-22 36 63 17 -2 31
-13 -15 -10 -24 -256 -123
35 -20 -45 26 249 125
Net Cash Flow 0 2 8 19 -10 33

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 7 7 12 3 3 6
Inventory Days 238 242 256 222 228 230
Days Payable 79 80 93 74 65 50
Cash Conversion Cycle 166 170 174 151 166 185
Working Capital Days 121 135 134 118 132 139
ROCE % 10% 9% 15% 18% 15%

Shareholding Pattern

Numbers in percentages

12 Recently
Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
65.16% 65.16% 64.67% 64.67% 63.82% 63.82% 57.88% 55.72% 54.70% 51.20%
7.47% 7.61% 7.49% 7.34% 6.49% 6.69% 10.41% 11.28% 11.20% 12.28%
6.95% 7.44% 9.32% 9.75% 10.51% 9.66% 12.17% 13.08% 14.04% 15.64%
20.42% 19.78% 18.52% 18.22% 19.17% 19.84% 19.54% 19.92% 20.04% 20.88%
No. of Shareholders 12,70913,25613,86214,68515,95521,65727,06729,71532,33035,858

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Announcements

Annual reports

DRHP

Credit ratings

Concalls