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Ethos Ltd.

₹2572.3 41.5 | 1.6%

Market Cap ₹6297 Cr.

Stock P/E 75.6

P/B 6.6

Current Price ₹2572.3

Book Value ₹ 391.2

Face Value 10

52W High ₹3515

Dividend Yield 0%

52W Low ₹ 2060

Ethos Ltd. Research see more...

Overview Inc. Year: 2007Industry: Retailing

Ethos Ltd operates a series of watch boutiques. It sells watches and add-ons. The business enterprise additionally provides watch aftercare services, consisting of repair, healing, movement overhauling, ultrasonic cleaning, engraving, and alterations. It operates 50 shops in India and approximately 60 luxurious watch brands, as well as sells its products through on line. The organisation was established in 2003 and is based in Chandigarh, India. Ethos Ltd operates as a subsidiary of KDDL Ltd.

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Ethos Ltd. Share Price

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Peer Comparison

Ethos Ltd. Quarterly Results

#(Fig in Cr.) Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024
Net Sales 178 230 208 230 235 281 253 273 297 370
Other Income 4 4 5 5 4 6 8 6 6 6
Total Income 181 233 213 235 239 287 261 280 303 376
Total Expenditure 152 194 182 196 198 237 217 230 255 313
Operating Profit 30 40 31 39 42 51 44 50 48 63
Interest 3 3 3 4 4 4 4 5 5 5
Depreciation 8 9 9 11 13 13 13 14 15 17
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 18 28 18 24 25 34 28 31 29 41
Provision for Tax 5 7 4 6 6 9 7 8 7 11
Profit After Tax 14 21 13 18 18 25 21 23 21 30
Adjustments 0 0 0 0 0 0 0 -0 -0 -0
Profit After Adjustments 14 21 13 18 19 26 21 23 21 29
Adjusted Earnings Per Share 5.8 8.8 5.7 7.8 8 10.4 8.6 9.3 8.7 12

Ethos Ltd. Profit & Loss

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
Net Sales 356 444 458 387 577 789 999 1193
Other Income 2 2 2 16 13 15 24 26
Total Income 358 445 460 403 590 803 1023 1220
Total Expenditure 339 407 402 344 506 668 841 1015
Operating Profit 19 38 58 59 84 135 181 205
Interest 10 11 24 20 21 20 22 19
Depreciation 4 5 35 33 32 35 49 59
Exceptional Income / Expenses 0 0 0 0 0 0 0 0
Profit Before Tax 5 22 -0 7 32 81 111 129
Provision for Tax 1 8 2 2 8 20 28 33
Profit After Tax 4 13 -2 5 23 60 83 95
Adjustments 0 0 0 0 0 0 0 0
Profit After Adjustments 4 13 -2 5 23 60 83 94
Adjusted Earnings Per Share 2.5 7.9 -1.4 2.6 12.3 25.8 34 38.6

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 27% 37% 18% 0%
Operating Profit CAGR 34% 45% 37% 0%
PAT CAGR 38% 155% 45% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 1% NA% NA% NA%
ROE Average 11% 12% 8% 8%
ROCE Average 17% 20% 17% 16%

Ethos Ltd. Balance Sheet

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Shareholder's Funds 92 134 152 157 232 631 884
Minority's Interest 0 0 0 0 0 0 0
Borrowings 11 16 16 17 28 7 2
Other Non-Current Liabilities -1 -5 75 63 73 83 105
Total Current Liabilities 146 150 175 148 163 150 171
Total Liabilities 247 295 417 385 495 871 1162
Fixed Assets 17 22 128 113 130 197 230
Other Non-Current Assets 20 22 14 16 29 36 68
Total Current Assets 210 251 275 257 336 639 864
Total Assets 247 295 417 385 495 871 1162

Ethos Ltd. Cash Flow

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Opening Cash & Cash Equivalents 9 7 8 10 18 38 28
Cash Flow from Operating Activities -1 -22 36 63 17 -2 31
Cash Flow from Investing Activities -12 -13 -15 -10 -24 -256 -123
Cash Flow from Financing Activities 11 35 -20 -45 27 249 125
Net Cash Inflow / Outflow -2 0 2 8 19 -10 33
Closing Cash & Cash Equivalent 7 8 10 18 38 28 61

Ethos Ltd. Ratios

# Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Earnings Per Share (Rs) 2.51 7.91 -1.35 2.61 12.26 25.82 34.03
CEPS(Rs) 5.07 10.78 17.67 20.47 28.77 40.66 53.91
DPS(Rs) 0 0 0 0 0 0 0
Book NAV/Share(Rs) 52.37 74.25 83.32 85.91 121.44 270.46 361.09
Core EBITDA Margin(%) 4.78 8.16 12.24 11.02 12.42 15.24 15.79
EBIT Margin(%) 4.13 7.42 5.11 6.89 9.18 12.79 13.35
Pre Tax Margin(%) 1.46 4.92 -0.05 1.74 5.46 10.23 11.14
PAT Margin (%) 1.12 3.01 -0.54 1.23 4.05 7.65 8.34
Cash Profit Margin (%) 2.27 4.11 7.03 9.64 9.51 12.04 13.21
ROA(%) 1.62 4.93 -0.69 1.19 5.31 8.83 8.2
ROE(%) 4.79 12.8 -1.78 3.09 12.05 13.97 10.99
ROCE(%) 9.5 17.98 10.66 12.19 21.2 21.68 17.43
Receivable days 6.62 6.33 7.29 10.18 5.49 2.63 3.97
Inventory Days 175.31 154.96 169.07 196.56 141.54 136.51 142.41
Payable days 104 84.4 78.23 93.58 69.04 60.39 50.32
PER(x) 0 0 0 0 0 37.23 76.04
Price/Book(x) 0 0 0 0 0 3.56 7.16
Dividend Yield(%) 0 0 0 0 0 0 0
EV/Net Sales(x) 0.22 0.21 0.18 0.13 0.07 2.57 6
EV/Core EBITDA(x) 4.23 2.48 1.44 0.84 0.46 15 33.06
Net Sales Growth(%) 0 24.55 3.23 -15.57 49.33 36.59 26.69
EBIT Growth(%) 0 123.5 -28.88 13.83 99.03 90.28 32.21
PAT Growth(%) 0 234.71 -118.43 293.06 391.63 157.82 38.14
EPS Growth(%) 0 215.04 -117.1 293.07 369.33 110.66 31.75
Debt/Equity(x) 0.7 0.58 0.5 0.33 0.26 0.01 0.01
Current Ratio(x) 1.44 1.68 1.57 1.73 2.06 4.27 5.06
Quick Ratio(x) 0.27 0.31 0.32 0.4 0.53 2 2.49
Interest Cover(x) 1.55 2.97 0.99 1.34 2.47 5 6.05
Total Debt/Mcap(x) 0 0 0 0 0 0 0

Ethos Ltd. Shareholding Pattern

# Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024
Promoter 65.16 64.68 64.68 63.82 63.82 57.89 55.72 54.71 51.21 50.79
FII 7.61 7.49 7.34 6.49 6.7 10.41 11.28 11.21 12.28 12.6
DII 7.45 9.31 9.76 10.51 9.65 12.16 13.08 14.05 15.64 16.58
Public 19.79 18.52 18.23 19.18 19.83 19.54 19.91 20.04 20.88 20.02
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has delivered good profit growth of 44% CAGR over last 5 years
  • Debtor days have improved from 60.39 to 50.32days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend.
  • Company has a low return on equity of 12% over the last 3 years.
  • Stock is trading at 6.6 times its book value.

* 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.

Ethos Ltd. News

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