Ethos Ltd

₹ 1,094 2.07%
18 Aug - close price
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.

  • Market Cap 2,555 Cr.
  • Current Price 1,094
  • High / Low 1,147 / 707
  • Stock P/E 109
  • Book Value 122
  • Dividend Yield 0.00 %
  • ROCE 13.9 %
  • ROE 12.0 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 44.6% CAGR over last 5 years

Cons

  • Stock is trading at 9.00 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 5.68% for 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

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Dec 2021 Mar 2022 Jun 2022
123 89 195 159 174
107 82 169 139 147
Operating Profit 16 7 26 20 27
OPM % 13% 8% 13% 13% 16%
2 5 3 3 2
Interest 4 4 4 5 4
Depreciation 8 7 9 8 8
Profit before tax 6 1 16 10 17
Tax % 28% 34% 26% 22% 25%
Net Profit 4 1 12 8 13
EPS in Rs 2.39 0.50 6.40 4.08 5.41

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
325 356 442 456 387 577
320 342 413 402 345 511
Operating Profit 5 14 29 53 42 66
OPM % 2% 4% 7% 12% 11% 11%
1 2 2 6 17 13
Interest 11 7 8 24 20 17
Depreciation 4 4 5 35 32 31
Profit before tax -8 5 18 1 6 31
Tax % 28% 23% 39% 98% 26% 25%
Net Profit -6 4 11 0 5 23
EPS in Rs -4.61 2.51 6.63 0.02 2.55 12.24
Dividend Payout % 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 12%
3 Years: 9%
TTM: 49%
Compounded Profit Growth
10 Years: %
5 Years: 45%
3 Years: 28%
TTM: 407%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: %
Return on Equity
10 Years: %
5 Years: 6%
3 Years: 6%
Last Year: 12%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
33 16 17 18 18 19
Reserves 32 76 115 134 139 213
69 63 77 175 140 161
101 95 91 100 98 114
Total Liabilities 215 250 300 427 396 507
10 17 22 128 112 129
CWIP 0 0 5 1 4 0
Investments 0 0 0 4 4 6
205 232 273 294 275 373
Total Assets 215 250 300 427 396 507

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
4 -1 35 63 17
-2 -12 -13 -10 -23
2 11 -20 -46 27
Net Cash Flow 4 -2 2 7 20

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 2 7 6 8 12 3
Inventory Days 244 230 214 242 256 222
Days Payable 93 104 73 83 97 77
Cash Conversion Cycle 152 133 148 167 171 148
Working Capital Days 107 112 120 128 125 117
ROCE % 8% 14% 9% 8% 14%

Shareholding Pattern

Numbers in percentages

2 recently
Jun 2022
65.16
7.47
6.95
20.42

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