Ethos Limited has informed the Exchange about Investor Presentation
ETHOSLTD · price
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Ethos Limited reported FY26 consolidated revenue of ₹1,612.2 crore, up 28.8% from ₹1,251.6 crore in FY25, driven by strong luxury watch demand and premiumisation trends. Q4 FY26 revenue grew 33.3% YoY to ₹414 crore. However, EBITDA margins declined from 16.8% to 15.3% due to Swiss Franc appreciation (INR depreciated ~26% vs CHF), impacting gross margins by approximately ₹18.7 crore. The company expanded its boutique network from 73 to 98 across 32 cities, adding 25 new stores including entry into 6 new markets. Same-store sales grew 14.2% and average selling price increased 22.9% to ₹2.07 lakh. A one-time charge of ₹1.8 crore was recognized due to new Labour Code gratuity restatement.
While revenue growth remains strong at 29%, shareholders should note margin compression from forex headwinds and new store ramp-up costs. The company prioritised long-term brand equity over full price pass-through, which may continue to pressure near-term profitability despite robust top-line expansion.