Ethos Limited — PPTs, 06-02-2026: Investor Presentation

Ethos reported strong nine-month performance for FY26, with revenue growing 27.4% year-on-year to Rs 1,198.2 Cr. This growth was fueled by its luxury brand portfolio and increasing luxury consumption in India, with the Lifestyle vertical performing robustly, boosted by new brands like Messika and Rimowa.

The company's strategy emphasizes network expansion, productivity gains, and stronger brand partnerships. Ethos expanded its retail footprint from 73 to 89 boutiques, entering Ranchi and now spanning 27 cities across 19 states. Four new brands, including Fabergé and Unimatic, were added during 9MFY26.

Key financial metrics for 9MFY26 (excluding IND AS 116 impact) show EBITDA increasing 12.8% to Rs 137.6 Cr and PBT up 3.3% to Rs 111.7 Cr. Same Store Sales Growth stood at 14.1%, and the Average Selling Price reached Rs 2.08 Lacs. Billing from pre-owned watches rose 26% YoY.

Management noted foreign exchange volatility, with the Swiss Franc appreciating against the INR by ~19%, as a major headwind, impacting gross margins by an estimated Rs 14.3 Cr. A one-time Rs 1.8 Cr impact from gratuity restatement also affected Q3 and nine-month margins. Ethos remains focused on strategic store rollouts in prime locations and talent development.