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Ethos (ETHOSLTD)₹2,821+1.07%Gems, Jewellery And Watches
In the Jun 2026 quarter (consolidated), Ethos reported sales of ₹462 Cr, up 33.6% from Jun 2025, and net profit of ₹28.96 Cr, up 52.7% year on year. For the year to Mar 2026, sales were ₹1,614 Cr and net profit ₹95.81 Cr.
Company filings, consolidated accounts; latest reported quarter Jun 2026
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 235 | 281 | 253 | 273 | 297 | 371 | 311 | 346 | 383 | 470 | 415 | 462 |
| Expenses | 198 | 237 | 217 | 230 | 255 | 313 | 265 | 301 | 336 | 408 | 364 | 402 |
| Operating Profit | 37.02 | 45.06 | 36.03 | 43.05 | 42.05 | 57.02 | 46.05 | 45.01 | 48.06 | 61.01 | 50.05 | 60.07 |
| OPM % | 16.0% | 15.9% | 13.9% | 16.0% | 14.0% | 15.0% | 15.0% | 12.9% | 12.0% | 12.9% | 11.9% | 12.9% |
| Other Income | 4.02 | 6.02 | 9.03 | 6.02 | 6.02 | 6.02 | 6.02 | 6.02 | 12.04 | 14.04 | 13.04 | 13.04 |
| Interest | 4.01 | 4.02 | 4.02 | 5.02 | 5.02 | 5.01 | 5.02 | 6.02 | 7.02 | 8.03 | 7.02 | 8.03 |
| Depreciation | 13.04 | 13.04 | 13.04 | 14.04 | 15.03 | 17.03 | 17.03 | 19.04 | 21.05 | 25.04 | 25.04 | 26.06 |
| Profit before tax | 24.98 | 33.96 | 27.97 | 30.98 | 29.01 | 40.99 | 29.98 | 25.97 | 31.99 | 41.97 | 31.01 | 38.99 |
| Tax % | 25.0% | 26.0% | 24.0% | 26.0% | 26.0% | 27.0% | 25.0% | 27.0% | 25.0% | 27.0% | 26.0% | 27.0% |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | −1.28 | 0.00 | 0.00 |
| Net Profit | 18.96 | 25.98 | 20.96 | 22.97 | 20.96 | 28.94 | 22.98 | 18.97 | 23.95 | 30.93 | 22.96 | 28.96 |
| EPS (Rs) | 7.27 | 9.51 | 7.83 | 8.50 | 7.92 | 10.98 | 8.47 | 7.09 | 8.88 | 11.36 | 8.21 | 10.49 |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 444 | 458 | 388 | 578 | 790 | 1,000 | 1,253 | 1,614 | 1,730 |
| Expenses | 407 | 401 | 343 | 504 | 667 | 840 | 1,054 | 1,407 | 1,509 |
| Operating Profit | 36.01 | 56.05 | 43.01 | 72.08 | 120 | 158 | 197 | 203 | 219 |
| OPM % | 8.0% | 12.0% | 11.0% | 11.9% | 14.9% | 15.9% | 16.0% | 12.9% | 12.7% |
| Other Income | 2.01 | 2.01 | 17.05 | 13.04 | 15.04 | 24.07 | 24.09 | 44.13 | 52.16 |
| Interest | 11.05 | 24.09 | 20.07 | 21.09 | 20.08 | 22.09 | 27.08 | 27.09 | 30.10 |
| Depreciation | 5.01 | 33.09 | 33.08 | 32.07 | 35.09 | 49.14 | 63.12 | 89.16 | 97.19 |
| Profit before tax | 21.98 | 1.99 | 6.99 | 31.99 | 80.94 | 111 | 130 | 131 | 144 |
| Tax % | 39.0% | 168.0% | 29.0% | 26.0% | 25.0% | 25.0% | 26.0% | 27.0% | — |
| Exceptional items | 0.00 | 1.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | −1.01 | −1.28 |
| Net Profit | 12.98 | −0.99 | 4.99 | 22.98 | 59.90 | 82.85 | 95.91 | 95.81 | 107 |
| EPS (Rs) | 7.21 | −0.66 | 2.38 | 11.18 | 23.60 | 31.01 | 35.86 | 35.39 | 38.94 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 17.01 | 18.01 | 17.99 | 18.98 | 23.05 | 24.04 | 24.01 | 27.04 |
| Reserves | 117 | 132 | 139 | 213 | 608 | 860 | 958 | 1,462 |
| Borrowings | 69.12 | 174 | 140 | 161 | 121 | 145 | 290 | 323 |
| Other Liabilities | 98.47 | 98.47 | 96.46 | 112 | 128 | 143 | 140 | 389 |
| Total Liabilities | 302 | 422 | 394 | 504 | 881 | 1,173 | 1,411 | 2,201 |
| Fixed Assets | 21.94 | 125 | 113 | 130 | 196 | 229 | 400 | 493 |
| CWIP | 4.99 | 0.99 | 3.99 | 0.00 | 3.99 | 8.99 | 30.99 | 10.99 |
| Investments | 0.00 | 0.99 | 0.99 | 1.99 | 1.99 | 24.95 | 35.92 | 37.94 |
| Other Assets | 276 | 297 | 277 | 374 | 679 | 910 | 945 | 1,659 |
| Inventories | 207 | 220 | 199 | 251 | 341 | 441 | 595 | 697 |
| Trade receivables | 8.97 | 8.97 | 11.96 | 4.99 | 5.99 | 15.95 | 17.95 | 17.95 |
| Cash & equivalents | 8.02 | 11.04 | 21.06 | 40.13 | 230 | 346 | 221 | 664 |
| Total Assets | 302 | 422 | 394 | 504 | 881 | 1,173 | 1,411 | 2,201 |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | −22.01 | 36.01 | 63.01 | 17.01 | −2.01 | 31.01 | −20.02 | 90.11 |
| Cash from investing activity | −13.04 | −15.04 | −10.03 | −24.07 | −257 | −123 | 47.14 | −478 |
| Cash from financing activity | 35.09 | −20.05 | −45.05 | 26.03 | 250 | 125 | −58.10 | 503 |
| Net cash flow | 0.00 | 1.99 | 7.99 | 18.98 | −9.99 | 32.98 | −31.97 | 116 |
| Capex | 12.96 | 13.94 | 8.97 | 23.90 | 55.79 | 31.92 | 72.73 | 70.78 |
| Free cash flow | −34.88 | 22.93 | 53.82 | −6.97 | −57.74 | −0.99 | −93.68 | 18.94 |
| CFO / OP % | −40.0% | 76.0% | 155.0% | 37.0% | 15.0% | 37.0% | 7.0% | 65.0% |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor days | 6 | 6 | 11 | 2 | 2 | 5 | 4 | 3 |
| Inventory days | 238 | 242 | 256 | 222 | 228 | 230 | 247 | 222 |
| Days payable | 79 | 80 | 93 | 74 | 65 | 50 | 37 | 45 |
| Cash conversion cycle | 165 | 169 | 173 | 150 | 165 | 184 | 214 | 179 |
| Working capital days | 77 | 72 | 83 | 84 | 121 | 127 | 143 | 127 |
| ROCE % | — | 9.9% | 9.0% | 14.9% | 18.0% | 15.0% | 14.0% | 9.9% |
For the Jun 2026 quarter, Ethos reported sales of ₹462 Cr, up 33.6% year on year and net profit of ₹28.96 Cr, up 52.7% year on year. The operating margin was 12.9%.
Ethos' sales for the year to Mar 2026 were ₹1,614 Cr; over the last twelve months they were ₹1,730 Cr.
Net profit for the year to Mar 2026 was ₹95.81 Cr, and ₹107 Cr over the last twelve months. Earnings per share over the same trailing period were ₹38.94.
Ethos reported borrowings of ₹323 Cr at Mar 2026, against cash and equivalents of ₹664 Cr.
Cash from operations was ₹90.11 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹18.94 Cr.