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 ₹ 6,015 Cr.
- Current Price ₹ 2,457
- High / Low ₹ 3,044 / 1,186
- Stock P/E 79.6
- Book Value ₹ 273
- Dividend Yield 0.00 %
- ROCE 17.6 %
- ROE 14.0 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 8.85 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -2.17%
- Company has a low return on equity of 11.4% 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|
444 | 458 | 387 | 577 | 789 | 954 | |
407 | 402 | 344 | 505 | 668 | 813 | |
Operating Profit | 36 | 56 | 43 | 72 | 120 | 141 |
OPM % | 8% | 12% | 11% | 12% | 15% | 15% |
2 | 2 | 17 | 13 | 15 | 21 | |
Interest | 11 | 24 | 20 | 21 | 20 | 15 |
Depreciation | 5 | 33 | 33 | 32 | 35 | 45 |
Profit before tax | 22 | 2 | 7 | 32 | 81 | 101 |
Tax % | 39% | 168% | 29% | 26% | 25% | |
13 | -1 | 5 | 23 | 60 | 76 | |
EPS in Rs | 7.91 | -0.73 | 2.61 | 12.26 | 25.83 | 31.85 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 20% |
TTM: | 29% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 221% |
TTM: | 38% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | 91% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 11% |
Last Year: | 14% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|
Equity Capital | 17 | 18 | 18 | 19 | 23 | 23 |
Reserves | 117 | 132 | 139 | 213 | 608 | 645 |
69 | 174 | 140 | 161 | 121 | 141 | |
98 | 98 | 96 | 111 | 127 | 127 | |
Total Liabilities | 301 | 422 | 394 | 504 | 880 | 936 |
22 | 125 | 113 | 130 | 197 | 244 | |
CWIP | 5 | 1 | 4 | 0 | 4 | 1 |
Investments | 0 | 1 | 1 | 2 | 2 | 2 |
275 | 296 | 276 | 373 | 677 | 689 | |
Total Assets | 301 | 422 | 394 | 504 | 880 | 936 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|
-22 | 37 | 63 | 17 | -2 | |
-13 | -15 | -10 | -24 | -256 | |
35 | -20 | -45 | 26 | 249 | |
Net Cash Flow | 0 | 2 | 8 | 19 | -10 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|
Debtor Days | 7 | 7 | 12 | 3 | 3 |
Inventory Days | 238 | 242 | 256 | 222 | 228 |
Days Payable | 79 | 80 | 93 | 74 | 65 |
Cash Conversion Cycle | 166 | 170 | 174 | 151 | 166 |
Working Capital Days | 121 | 135 | 134 | 118 | 132 |
ROCE % | 10% | 9% | 15% | 18% |
Documents
Announcements
- Disclosure Pertaining To Non-Applicability Of SEBI'S Circular No. SEBI/HO/DDHS/CIR/P/2018/144 Dated November 26, 2018 Regarding Borrowings By Large Corporates 19 Apr
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Compliance Certificate
17 Apr - Certificate pursuant to regulation 40(9) of SEBI (LODR) Regulations, 2015 for the financial year ended on March 31, 2024
- Compliance Certificate 11 Apr
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 11 Apr
- Order 2 Apr
Annual reports
Concalls
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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.