Specialty Retail company Ethos announced Q4FY26 & FY26 results Consolidated Financial Highlights: Revenue from operations for Q4FY26 was Rs 41,401.02 lakh, a decrease of 11.63% QoQ from Rs 46,851.93 lakh in Q3FY26 but an increase of 32.99% YoY compared to Rs 31,131.76 lakh in Q4FY25. Total Income for the quarter Q4FY26 reached Rs 42,727.40 lakh, reflecting a decline of 11.72% from Rs 48,402.53 lakh in Q3FY26 and a growth of 34.64% over Rs 31,734.81 lakh in Q4FY25. Net Profit (PAT) for Q4FY26 stood at Rs 2,276.16 lakh, representing a decrease of 25.53% QoQ compared to Rs 3,056.58 lakh and a marginal increase of 0.05% YoY from Rs 2,274.93 lakh in Q4FY25. For the full financial year FY26, Revenue from operations reached Rs 1,61,224.00 lakh, marking a growth of 28.81% over Rs 1,25,162.71 lakh in FY25. Annual Total Income for FY26 was Rs 1,65,840.54 lakh, an increase of 29.98% compared to Rs 1,27,592.69 lakh in the previous year. Annual Net Profit (PAT) for FY26 stood at Rs 9,613.88 lakh, showing a marginal decrease of 0.15% YoY from Rs 9,628.79 lakh in FY25. Standalone Financial Highlights: Revenue from operations for Q4FY26 was Rs 40,292.22 lakh, a decline of 14.43% QoQ from Rs 47,085.61 lakh and a growth of 29.43% YoY from Rs 31,131.76 lakh in Q4FY25. Total Income for the quarter Q4FY26 reached Rs 41,405.37 lakh, down 14.45% QoQ from Rs 48,401.37 lakh but up 30.82% YoY from Rs 31,651.38 lakh. Net Profit (PAT) for Q4FY26 stood at Rs 2,078.24 lakh, showing a 32.16% decrease QoQ from Rs 3,063.46 lakh and a 14.14% decrease YoY from Rs 2,420.55 lakh in Q4FY25. Annual Standalone Revenue from operations for FY26 was Rs 1,61,259.61 lakh, up 28.84% over Rs 1,25,162.71 lakh in FY25. Annual Standalone Total Income reached Rs 1,65,311.97 lakh in FY26, a growth of 29.50% YoY from Rs 1,27,651.39 lakh. Annual Standalone Net Profit for FY26 was Rs 9,492.23 lakh, representing a decrease of 3.39% YoY compared to Rs 9,825.41 lakh in FY25. Business Highlights: Dividend: The Board of Directors has recommended a final dividend of Rs 3.25 per equity share of face value Rs 2 each (162.5%) for the financial year 2025-26. Fund Utilization: Net proceeds from the Initial Public Offering (Rs 33,968.95 lakh) and Qualified Institutions Placement (Rs 16,959.64 lakh) were fully utilized by March 31, 2026. The Company raised Rs 40,990.50 lakh through a Rights Issue in September 2025, of which Rs 10,978.97 lakh has been utilized as of the end of FY26. Subsidiary Expansion: During the year, the Company incorporated Ficus Trading LLC in Dubai, UAE (April 16, 2025) and Micron Watch Services Private Limited (August 22, 2025) as wholly owned subsidiaries. Board Changes: Mr. Munish Gupta was appointed as an Additional Director in the category of Executive Director for a period of 3 years effective from May 12, 2026. Labour Code Impact: The Company recognized an incremental exceptional impact of Rs 171.58 lakh towards gratuity during the year following the notification of new consolidated Labour Codes. Segment Performance: The Group operates exclusively in a single operating segment, which involves the retail trading of premium and luxury watches, accessories, and other luxury items, along with related after-sale services. Result PDF
Specialty Retail company Ethos announced Q4FY25 results Q4FY25 Financial Highlights: Revenue from operations: Rs 311.3 crore compared to Rs 252.5 crore during Q4FY24, change 23.3%. EBITDA: Rs 53.6 crore compared to Rs 44.4 crore during Q4FY24, change 20.7%. EBITDA margin: 16.9% for Q4FY25. PAT: Rs 22.7 crore compared to Rs 21.0 crore during Q4FY24, change 8.1%. Pranav Saboo – MD & CEO, said: “We are pleased to share that Ethos has delivered a robust financial performance for Q4 and FY25, underscoring the strength of our brand portfolio and continued execution of our growth strategy. Revenue for Q4FY25 grew by 23.3% YoY to Rs 311.3 crore, up from Rs 252.5 crore in Q4FY24. For FY25, revenue rose by 25.3% to Rs 1,251.6 crore, compared to Rs 999.0 crore in FY24. EBITDA for the quarter rose by 20.7% to Rs 53.6 crore, while full-year EBITDA increased by 22.3% to Rs 214.4 crore. EBITDA margins stood at 16.9% for Q4 and 16.8% for the year, reflecting marginal contraction versus FY24 (17.0% and 17.1% respectively). This slight moderation aligns with our deliberate investments in talent and infrastructure, especially for newly launched stores that are still ramping up. In Q4, we added one new boutique and 14 new boutiques in FY25, expanding our presence to 73 stores across 26 cities. We entered three new markets—Dehradun, Kochi, and Mangaluru—and inaugurated our second Duty-Free boutique at Bengaluru Airport. We are set to open eight new boutiques in May 2025, including a flagship Messika (https://www.messika.com/fr) boutique in Delhi—our first exclusive store for the renowned jewellery maison. This forms part of our ongoing strategy to deepen our presence in high-potential markets and strengthen our luxury portfolio. As we scale, we remain committed to investing in high-performing talent, recognising that our team is the foundation for innovation, elevated customer experiences, and operational excellence. These elements will be crucial as we pursue our long-term goal of growing our revenue tenfold over the next decade.” Result PDF