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 ₹ 7,658 Cr.
- Current Price ₹ 3,128
- High / Low ₹ 3,525 / 1,782
- Stock P/E 84.5
- Book Value ₹ 379
- Dividend Yield 0.00 %
- ROCE 14.9 %
- ROE 10.9 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 44.0% CAGR over last 5 years
Cons
- Stock is trading at 8.23 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 Total Market BSE SmallCap BSE Allcap BSE Consumer Discretionary Nifty Microcap 250
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 | 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: | 74% |
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% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Resignation of Director
21 Nov - Resignation of Whole time Director Mr. Manoj Subramanian.
-
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
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
8 Nov - Audio recording of earnings conference call for Q2 results.
Annual reports
Concalls
-
Nov 2024Transcript PPT REC
-
Aug 2024Transcript PPT REC
-
May 2024Transcript PPT
-
Feb 2024Transcript PPT
-
Nov 2023Transcript PPT REC
-
Aug 2023Transcript PPT REC
-
May 2023Transcript PPT
-
Feb 2023Transcript PPT
-
Nov 2022Transcript PPT
-
Nov 2022TranscriptNotesPPT
-
Aug 2022Transcript PPT
-
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.