Ethos Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: August 13, 2025, 10:53 pm

Quick Insight

Ethos Ltd, a key player in the watch industry, currently trades at a price of 2,775 with a market capitalization of 7,424 Cr. Despite a relatively high P/E ratio of 77.1, the company boasts a respectable ROE of 10.3% and ROCE of 13.0%. With a solid operating profit margin of 15% and a healthy net profit of 96 Cr, Ethos Ltd demonstrates operational efficiency. The company's strong financial position is further underscored by its reserves of 958 Cr and a comfortable Interest Coverage Ratio (ICR) of 11.03x. However, the high Price-to-Book Value of 6.18x indicates a premium valuation. Investors should closely monitor Ethos Ltd's ability to sustain its profitability and manage its borrowings of ₹289 Cr to ensure continued growth and shareholder value.

Competitors of Ethos Ltd

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Quarterly Result

Last Updated: July 16, 2025, 10:00 am

Below is a detailed analysis of the quarterly data for Ethos Ltd based on the most recent figures (Mar 2025) and their trends compared to the previous period:

• For Sales, as of Mar 2025, the value is 311.00 Cr.. The value appears to be declining and may need further review. It has decreased from 370.00 Cr. (Dec 2024) to 311.00 Cr., marking a decrease of 59.00 Cr..
• For Expenses, as of Mar 2025, the value is 265.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 313.00 Cr. (Dec 2024) to 265.00 Cr., marking a decrease of 48.00 Cr..
• For Operating Profit, as of Mar 2025, the value is 46.00 Cr.. The value appears to be declining and may need further review. It has decreased from 57.00 Cr. (Dec 2024) to 46.00 Cr., marking a decrease of 11.00 Cr..
• For OPM %, as of Mar 2025, the value is 15.00%. The value remains steady. There is no change compared to the previous period (Dec 2024) which recorded 15.00%.
• For Other Income, as of Mar 2025, the value is 6.00 Cr.. The value remains steady. There is no change compared to the previous period (Dec 2024) which recorded 6.00 Cr..
• For Interest, as of Mar 2025, the value is 5.00 Cr.. The value remains steady. There is no change compared to the previous period (Dec 2024) which recorded 5.00 Cr..
• For Depreciation, as of Mar 2025, the value is 17.00 Cr.. The value remains steady. There is no change compared to the previous period (Dec 2024) which recorded 17.00 Cr..
• For Profit before tax, as of Mar 2025, the value is 30.00 Cr.. The value appears to be declining and may need further review. It has decreased from 41.00 Cr. (Dec 2024) to 30.00 Cr., marking a decrease of 11.00 Cr..
• For Tax %, as of Mar 2025, the value is 25.00%. The value appears to be improving (decreasing) as expected. It has decreased from 27.00% (Dec 2024) to 25.00%, marking a decrease of 2.00%.
• For Net Profit, as of Mar 2025, the value is 23.00 Cr.. The value appears to be declining and may need further review. It has decreased from 29.00 Cr. (Dec 2024) to 23.00 Cr., marking a decrease of 6.00 Cr..
• For EPS in Rs, as of Mar 2025, the value is 8.49. The value appears to be declining and may need further review. It has decreased from 11.00 (Dec 2024) to 8.49, marking a decrease of 2.51.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Profit & Loss - Annual Report

Last Updated: June 16, 2025, 1:32 pm

Growth

Last Updated: Unknown

Balance Sheet

Last Updated: July 25, 2025, 1:20 pm

Below is a detailed analysis of the balance sheet data for Ethos Ltd based on the most recent figures (Mar 2025) and their trends compared to the previous period:

• For Equity Capital, as of Mar 2025, the value is 24.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 24.00 Cr..
• For Reserves, as of Mar 2025, the value is 958.00 Cr.. The value appears strong and on an upward trend. It has increased from 859.00 Cr. (Mar 2024) to 958.00 Cr., marking an increase of 99.00 Cr..
• For Borrowings, as of Mar 2025, the value is 289.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from 145.00 Cr. (Mar 2024) to 289.00 Cr., marking an increase of 144.00 Cr..
• For Other Liabilities, as of Mar 2025, the value is 139.00 Cr.. The value appears to be improving (decreasing). It has decreased from 142.00 Cr. (Mar 2024) to 139.00 Cr., marking a decrease of 3.00 Cr..
• For Total Liabilities, as of Mar 2025, the value is 1,410.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 1,171.00 Cr. (Mar 2024) to 1,410.00 Cr., marking an increase of 239.00 Cr..
• For Fixed Assets, as of Mar 2025, the value is 401.00 Cr.. The value appears strong and on an upward trend. It has increased from 230.00 Cr. (Mar 2024) to 401.00 Cr., marking an increase of 171.00 Cr..
• For CWIP, as of Mar 2025, the value is 31.00 Cr.. The value appears strong and on an upward trend. It has increased from 9.00 Cr. (Mar 2024) to 31.00 Cr., marking an increase of 22.00 Cr..
• For Investments, as of Mar 2025, the value is 36.00 Cr.. The value appears strong and on an upward trend. It has increased from 25.00 Cr. (Mar 2024) to 36.00 Cr., marking an increase of 11.00 Cr..
• For Other Assets, as of Mar 2025, the value is 942.00 Cr.. The value appears strong and on an upward trend. It has increased from 907.00 Cr. (Mar 2024) to 942.00 Cr., marking an increase of 35.00 Cr..
• For Total Assets, as of Mar 2025, the value is 1,410.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,171.00 Cr. (Mar 2024) to 1,410.00 Cr., marking an increase of 239.00 Cr..

Notably, the Reserves (958.00 Cr.) exceed the Borrowings (289.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Cash Flow

Free Cash Flow

Financial Efficiency Indicators

Share Holding Pattern

Mutual Fund Holdings

Key Financial Ratios

After reviewing the key financial ratios for Ethos Ltd, here is a detailed analysis based on the latest available data and recent trends:

• For FaceValue, as of Mar 25, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 10.00.
• For Basic EPS (Rs.), as of Mar 25, the value is 39.33. This value is within the healthy range. It has increased from 34.98 (Mar 24) to 39.33, marking an increase of 4.35.
• For Diluted EPS (Rs.), as of Mar 25, the value is 39.33. This value is within the healthy range. It has increased from 34.98 (Mar 24) to 39.33, marking an increase of 4.35.
• For Cash EPS (Rs.), as of Mar 25, the value is 65.83. This value is within the healthy range. It has increased from 53.63 (Mar 24) to 65.83, marking an increase of 12.20.
• For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 401.22. It has increased from 361.09 (Mar 24) to 401.22, marking an increase of 40.13.
• For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 401.22. It has increased from 361.09 (Mar 24) to 401.22, marking an increase of 40.13.
• For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 511.28. It has increased from 408.08 (Mar 24) to 511.28, marking an increase of 103.20.
• For PBDIT / Share (Rs.), as of Mar 25, the value is 87.57. This value is within the healthy range. It has increased from 71.62 (Mar 24) to 87.57, marking an increase of 15.95.
• For PBIT / Share (Rs.), as of Mar 25, the value is 61.83. This value is within the healthy range. It has increased from 51.74 (Mar 24) to 61.83, marking an increase of 10.09.
• For PBT / Share (Rs.), as of Mar 25, the value is 53.89. This value is within the healthy range. It has increased from 45.19 (Mar 24) to 53.89, marking an increase of 8.70.
• For Net Profit / Share (Rs.), as of Mar 25, the value is 40.09. This value is within the healthy range. It has increased from 33.75 (Mar 24) to 40.09, marking an increase of 6.34.
• For NP After MI And SOA / Share (Rs.), as of Mar 25, the value is 39.33. This value is within the healthy range. It has increased from 34.02 (Mar 24) to 39.33, marking an increase of 5.31.
• For PBDIT Margin (%), as of Mar 25, the value is 17.12. This value is within the healthy range. It has decreased from 17.55 (Mar 24) to 17.12, marking a decrease of 0.43.
• For PBIT Margin (%), as of Mar 25, the value is 12.09. This value is within the healthy range. It has decreased from 12.67 (Mar 24) to 12.09, marking a decrease of 0.58.
• For PBT Margin (%), as of Mar 25, the value is 10.54. This value is within the healthy range. It has decreased from 11.07 (Mar 24) to 10.54, marking a decrease of 0.53.
• For Net Profit Margin (%), as of Mar 25, the value is 7.84. This value is within the healthy range. It has decreased from 8.27 (Mar 24) to 7.84, marking a decrease of 0.43.
• For NP After MI And SOA Margin (%), as of Mar 25, the value is 7.69. This value is below the healthy minimum of 8. It has decreased from 8.33 (Mar 24) to 7.69, marking a decrease of 0.64.
• For Return on Networth / Equity (%), as of Mar 25, the value is 9.80. This value is below the healthy minimum of 15. It has increased from 9.42 (Mar 24) to 9.80, marking an increase of 0.38.
• For Return on Capital Employeed (%), as of Mar 25, the value is 12.30. This value is within the healthy range. It has decreased from 12.66 (Mar 24) to 12.30, marking a decrease of 0.36.
• For Return On Assets (%), as of Mar 25, the value is 6.83. This value is within the healthy range. It has decreased from 7.11 (Mar 24) to 6.83, marking a decrease of 0.28.
• For Long Term Debt / Equity (X), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 0.2. There is no change compared to the previous period (Mar 24) which recorded 0.00.
• For Total Debt / Equity (X), as of Mar 25, the value is 0.00. This value is within the healthy range. It has decreased from 0.01 (Mar 24) to 0.00, marking a decrease of 0.01.
• For Asset Turnover Ratio (%), as of Mar 25, the value is 0.97. There is no change compared to the previous period (Mar 24) which recorded 0.97.
• For Current Ratio (X), as of Mar 25, the value is 4.96. This value exceeds the healthy maximum of 3. It has decreased from 5.06 (Mar 24) to 4.96, marking a decrease of 0.10.
• For Quick Ratio (X), as of Mar 25, the value is 1.66. This value is within the healthy range. It has decreased from 2.48 (Mar 24) to 1.66, marking a decrease of 0.82.
• For Interest Coverage Ratio (X), as of Mar 25, the value is 11.03. This value is within the healthy range. It has increased from 10.95 (Mar 24) to 11.03, marking an increase of 0.08.
• For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 6.05. This value is within the healthy range. It has decreased from 6.16 (Mar 24) to 6.05, marking a decrease of 0.11.
• For Enterprise Value (Cr.), as of Mar 25, the value is 5,852.10. It has decreased from 5,994.68 (Mar 24) to 5,852.10, marking a decrease of 142.58.
• For EV / Net Operating Revenue (X), as of Mar 25, the value is 4.68. This value exceeds the healthy maximum of 3. It has decreased from 6.00 (Mar 24) to 4.68, marking a decrease of 1.32.
• For EV / EBITDA (X), as of Mar 25, the value is 27.30. This value exceeds the healthy maximum of 15. It has decreased from 34.19 (Mar 24) to 27.30, marking a decrease of 6.89.
• For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 4.85. This value exceeds the healthy maximum of 3. It has decreased from 6.34 (Mar 24) to 4.85, marking a decrease of 1.49.
• For Price / BV (X), as of Mar 25, the value is 6.18. This value exceeds the healthy maximum of 3. It has decreased from 7.16 (Mar 24) to 6.18, marking a decrease of 0.98.
• For Price / Net Operating Revenue (X), as of Mar 25, the value is 4.85. This value exceeds the healthy maximum of 3. It has decreased from 6.34 (Mar 24) to 4.85, marking a decrease of 1.49.
• For EarningsYield, as of Mar 25, the value is 0.01. This value is below the healthy minimum of 5. There is no change compared to the previous period (Mar 24) which recorded 0.01.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Fair Value

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Strength and Weakness