Ethos Limited

BSE: 543532 NSE: ETHOSLTD
Ethos Limited - consumer goods in Parwanoo, Himachal Pradesh, India. FY 2026 financials & compliance.
CIN L52300HP2007PLC030800 Incorporated 05 November 2007 ROC Himachal Pradesh HQ Parwanoo, Himachal Pradesh, India
Active Listed - NSE: ETHOSLTD · BSE: 543532 Public Limited Company consumer goods
Data last updated
Market Cap
₹7,548 Cr
ETHOSLTD · NSE
Share Price
₹2,820.90
+1.07% today
Revenue
₹1,612 Cr
FY 2025-26 · +28.8% YoY
EBITDA
₹213 Cr
Margin 13.2%
Net Profit
₹95.01 Cr
FY 2025-26 · -1.8% YoY
P/E (TTM)
70.7x
P/B 5.0x
ROE
7.8%
ROCE 11.0%
Debt / Equity
0.25
Interest cover 31.2x

About Ethos Limited

Data last updated:

Ethos Limited is a public limited company based in Parwanoo, Himachal Pradesh, India, a subsidiary of Kddl Limited. It operates in the accessories retail and distribution segment of the consumer goods sector. It was incorporated on 05 November 2007 and has been in existence for over 19 years.

The company is registered with the Registrar of Companies (ROC), Himachal Pradesh, under CIN L52300HP2007PLC030800. Its GSTIN is 03AADCK2345N1ZK (Punjab). The company holds 23 GST registrations, of which 22 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 543532 and NSE: ETHOSLTD.

The company has an authorised share capital of ₹61.4 Cr and a paid-up capital of ₹26.76 Cr. It was formerly known as Kamla Retail Limited. It is led by directors including Pranav Shankar Saboo (Managing Director) and Yashovardhan Saboo (Whole-Time Director).

Its last annual general meeting (AGM) was held on 15 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Plot No. 3 Sector – III, Parwanoo, Himachal Pradesh, India – 173220.

As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹1,612.24 Cr, a growth of 28.8% compared to the previous year. For the same year it recorded a net profit of ₹95.01 Cr (net margin 5.9%) and EBITDA of ₹212.59 Cr (EBITDA margin 13.2%). The net worth stands at ₹1,487.92 Cr (up 51.5% YoY). Total assets are valued at ₹1,991.8 Cr (up 56.4% YoY).

The company has about 1,079 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary and 1 joint venture.

The company is associated with 1 brand: Ethos Watch. As per MCA filings, the company has open charges of ₹3 Cr and satisfied charges of ₹252.94 Cr on record. Court records list 38 cases involving the company, including 21 filed by the company and 17 filed against it; 8 cases are pending. The company has 43 deals on record (20 funding rounds, 13 market trades, 7 secondary share transfers), with disclosed funding of ₹170.04 Cr; the latest was in July 2026. The company has 12 MSME Form 1 returns on record between 2019 and 2024, listing 121 overdue payments to 17 micro and small suppliers.

The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website ethoswatches.com.

Company details

CIN L52300HP2007PLC030800
Registration Number 030800
Incorporation Date 05 November 2007
ROC Himachal Pradesh
Listing Status Listed - Listed on NSE (ETHOSLTD); Listed on BSE (543532)
Company Status Active
Date of Last AGM 15 September 2025
Date of Balance Sheet 31 March 2026
Parent Company Kddl Limited
Compliance Status Active Compliant

CIN history

Ethos has one previous CIN (Corporate Identification Number): U52300HP2007PLC030800. The current CIN is L52300HP2007PLC030800, which is the unique identifier assigned by the Registrar of Companies.

CINStatus
L52300HP2007PLC030800Current
U52300HP2007PLC030800Previous
Key People
Pranav Shankar Saboo Managing Director Yashovardhan Saboo Whole-Time Director Munish Gupta Whole-Time Director

Contact details

Ethos Limited's registered office is in Parwanoo, Himachal Pradesh. Its website is ethoswatches.com. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Website
    ethoswatches.com
  • Social Media
  • Registered Address
    Plot No. 3 Sector – III, Parwanoo, Himachal Pradesh, India – 173220
  • Industry
    Consumer Goods, Accessories Retail & Distribution

To see the full contact details of Ethos Limited, buy the company report.

Comprehensive company report
Ethos Limited - one report that includes everything
  • Company details, directors and signatories
  • Historical financials and ratios
  • Shareholding pattern and group structure
  • Charges with holder and property details
  • Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included

Brands

Ethos operates one associated brand: Ethos Watch. Each brand links to its own profile.

BrandDescriptionWebsite
Ethos Watch
Luxury watches are retailed via stores and online channels.ethoswatches.com

Business activity

The main business activity of Ethos is wholesale and retail trade; repair of motor vehicles and motorcycles. In detail, this covers retail trade, except of motor vehicles and motorcycles.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
GWholesale and retail trade; repair of motor vehicles and motorcycles47Retail trade, except of motor vehicles and motorcycles

To see the full business activity and turnover split of Ethos Limited, buy the company report.

Financials of Ethos Limited

FY 2025-26 filings available

Ethos Limited reported revenue of ₹1,612.24 Cr (up 28.8% YoY) for FY 2025-26.

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹1,612 Cr
+28.8% YoY
EBITDA
₹213 Cr
+8.3% YoY
Profit After Tax
₹95.01 Cr
-1.7% YoY
Net Worth
₹1,488 Cr
+51.5% YoY
Total Assets
₹1,992 Cr
+56.4% YoY
Total Debt
₹322 Cr
+11.6% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue1,6121,252999789577387458
Revenue growth+28.8%+25.3%+26.7%+36.6%+49.3%-15.6%-
EBITDA21319615812071.7042.5855.42
EBITDA margin+13.2%+15.7%+15.8%+15.3%+12.4%+11.0%+12.1%
Profit before tax13113011180.6831.516.712.00
Net profit95.0196.7082.8860.2023.544.72(1.93)
Net profit margin+5.9%+7.7%+8.3%+7.6%+4.1%+1.2%-0.4%
EPS (₹)35.4239.3334.0325.8212.262.61(0.73)
Balance sheet
Total assets1,9921,2741,032755395300326
Net worth1,488982884632232157150
Total debt322289145121161140174
Cash & bank66222034522939.8420.5110.94
Net working capital1,283755725513227163180
Cash flow
Cash from operations89.60(20.29)30.81(2.15)16.6563.4536.45
Cash from investing(476)46.59(123)(256)(23.78)(10.04)(14.56)
Cash from financing502(58.40)12524926.50(44.94)(19.62)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue462414469383346311370297
Revenue growth (YoY)+33.3%+33.0%+26.7%+29.0%+26.7%---
Other income13.3413.2615.5111.565.846.035.756.13
EBITDA59.9049.6958.9847.6945.0146.2556.7842.05
EBITDA margin+13.0%+12.0%+12.6%+12.4%+13.0%+14.9%+15.3%+14.2%
Depreciation26.0924.6624.8120.9719.0216.9416.7515.00
Interest8.027.387.596.555.715.205.174.55
Profit before tax39.1330.9142.0931.7326.1230.1440.6128.63
Tax10.478.1511.517.957.097.3911.127.39
Net profit28.6622.7630.5823.7819.0322.7529.4921.24
EPS (₹)10.518.2011.468.787.779.2912.058.68
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue1,6131,252998789577387458
Revenue growth+28.8%+25.4%+26.6%+36.6%+49.3%-15.6%-
EBITDA21119715611970.5941.6853.02
EBITDA margin+13.1%+15.7%+15.7%+15.1%+12.2%+10.8%+11.6%
Profit before tax12713210979.7831.216.311.25
Net profit96.3898.6680.8759.7223.464.62(0.05)
Net profit margin+6.0%+7.9%+8.1%+7.6%+4.1%+1.2%-0.0%
EPS (₹)35.4740.1433.2125.6112.252.550.02
Balance sheet
Total assets1,7971,2611,030754395300329
Net worth1,481980882631232157153
Total debt310278145121161140175
Cash & bank59821234122539.3619.289.79
Net working capital1,206747719508224159177
Cash flow
Cash from operations102(20.74)31.09(4.80)16.8662.3834.78
Cash from investing(372)44.55(123)(254)(23.25)(10.16)(12.65)
Cash from financing329(58.31)12424926.53(44.88)(19.62)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue451403471392346311370297
Revenue growth (YoY)+30.1%+29.4%+27.3%+32.1%+26.7%---
Other income10.7211.1313.1610.525.725.206.976.37
Total expenses391356412345300262315255
EBITDA59.2447.1058.8447.9346.3848.8955.1041.71
EBITDA margin+13.1%+11.7%+12.5%+12.2%+13.4%+15.7%+14.9%+14.0%
Depreciation24.6323.2723.5620.9319.0016.9216.7214.98
Interest7.727.077.256.535.705.185.164.54
Profit before tax37.6127.8941.1930.9927.4031.9940.1928.56
Tax9.617.1110.547.797.097.7710.447.22

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 11 Nov 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue462414469383346311370297
Revenue growth (YoY)+33.3%+33.0%+26.7%+29.0%+26.7%---
Other income13.3413.2615.5111.565.846.035.756.13
EBITDA59.9049.6958.9847.6945.0146.2556.7842.05
EBITDA margin+13.0%+12.0%+12.6%+12.4%+13.0%+14.9%+15.3%+14.2%
Depreciation26.0924.6624.8120.9719.0216.9416.7515.00
Interest8.027.387.596.555.715.205.174.55
Profit before tax39.1330.9142.0931.7326.1230.1440.6128.63
Tax10.478.1511.517.957.097.3911.127.39
Net profit28.6622.7630.5823.7819.0322.7529.4921.24
EPS (₹)10.518.2011.468.787.779.2912.058.68
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue1,6121,252999789577387458
Revenue growth+28.8%+25.3%+26.7%+36.6%+49.3%-15.6%-
Other income46.1724.3024.2915.0612.8016.563.16
Total expenses1,4001,055841668506344402
Employee cost11785.3470.3652.6842.3829.2033.17
EBITDA21319615812071.7042.5855.42
EBITDA margin+13.2%+15.7%+15.8%+15.3%+12.4%+11.0%+12.1%
Depreciation89.4663.0048.6734.6331.5132.5232.79
Interest38.4327.4822.0320.1821.4819.9123.79
Profit before tax13113011180.6831.516.712.00
Tax34.7133.7828.0220.388.141.963.32
Net profit95.0196.7082.8860.2023.544.72(1.93)
Net profit margin+5.9%+7.7%+8.3%+7.6%+4.1%+1.2%-0.4%
EPS (₹)35.4239.3334.0325.8212.262.61(0.73)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital26.7624.4824.4823.3519.0818.2118.21
Reserves & surplus1,461958859608213139132
Shareholders' funds (net worth)1,488982884632232157150
Minority interest1760.000.000.000.000.000.00
Secured loans0.130.180.431.1827.5733.0743.80
Unsecured loans322289145120134107130
Total debt322289145121161140174
Total liabilities1,9921,2741,032755395300326
Assets
Gross block569450304251155133142
Net block494401230197130113125
Capital work in progress11.1330.618.564.010.003.810.75
Investments37.6936.2225.362.071.570.800.67
Inventories695593440340250198219
Sundry debtors17.5018.2615.576.185.1812.189.38
Cash & bank balances66222034522939.8420.5110.94
Loans & advances11459.5663.3363.8441.4726.0636.74
Total current assets1,489891864639336257276
Total current liabilities20513613912510993.9695.55
Net working capital1,283755725513227163180
Total assets1,9921,2741,032755395300326
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash28.4860.5827.8937.6818.319.847.57
Net cash from operating activities89.60(20.29)30.81(2.15)16.6563.4536.45
Net cash from investing activities(476)46.59(123)(256)(23.78)(10.04)(14.56)
Net cash from financing activities502(58.40)12524926.50(44.94)(19.62)
Net change in cash116(32.10)32.69(9.79)19.378.472.27
Closing cash66222034522939.8420.5110.94
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+28.8%+25.3%+26.7%+36.6%+49.3%-15.6%-
EBITDA growth+8.3%+24.4%+31.0%+68.0%+68.4%-23.2%-
PBT growth+0.6%+16.9%+38.0%+156.1%+369.6%+235.5%-90.8%
Net income growth-1.8%+16.7%+37.7%+155.7%+398.7%+344.6%-
Revenue CAGR (3Y)+26.9%+29.4%+37.2%+19.9%+9.2%--
EBITDA CAGR (3Y)+20.9%+39.9%+54.7%+29.5%+25.6%--
Profitability & leverage
Net income margin+6.0%+7.7%+8.3%+7.7%+4.1%+1.2%-0.3%
Return on capital employed+11.0%+13.7%+14.9%+17.6%+15.3%+8.5%+10.1%
Return on net worth+7.8%+10.3%+11.0%+14.0%+12.0%+3.1%-1.4%
Debt / equity0.250.230.180.330.780.760.86
Long-term debt / equity0.210.190.140.240.500.410.39
Interest cover31.2120.6220.2023.5253.45197.91105.13
Efficiency & per share
Fixed asset turnover3.173.323.603.884.012.815.20
Inventory turnover2.502.422.562.672.581.862.16
Debtors turnover90.1774.0091.86138.8366.5135.8650.04
EPS (₹)35.4239.3334.0325.8212.262.61(0.73)
Dividend per share (₹)0.000.000.000.000.000.000.00
Book value per share (₹)556.07401.22361.09270.46121.4486.1782.29
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue451403471392346311370297
Revenue growth (YoY)+30.1%+29.4%+27.3%+32.1%+26.7%---
Other income10.7211.1313.1610.525.725.206.976.37
Total expenses391356412345300262315255
EBITDA59.2447.1058.8447.9346.3848.8955.1041.71
EBITDA margin+13.1%+11.7%+12.5%+12.2%+13.4%+15.7%+14.9%+14.0%
Depreciation24.6323.2723.5620.9319.0016.9216.7214.98
Interest7.727.077.256.535.705.185.164.54
Profit before tax37.6127.8941.1930.9927.4031.9940.1928.56
Tax9.617.1110.547.797.097.7710.447.22
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue1,6131,252998789577387458
Revenue growth+28.8%+25.4%+26.6%+36.6%+49.3%-15.6%-
Other income40.5224.8922.1715.2013.4816.976.38
Total expenses1,4011,055841669507345405
Employee cost11484.0768.9050.9440.7527.4731.60
EBITDA21119715611970.5941.6853.02
EBITDA margin+13.1%+15.7%+15.7%+15.1%+12.2%+10.8%+11.6%
Depreciation86.7562.9148.0734.5331.4132.4734.58
Interest37.5827.4421.9820.1521.4519.8723.57
Profit before tax12713210979.7831.216.311.25
Tax32.5533.3027.2919.977.841.661.21
Net profit96.3898.6680.8759.7223.464.62(0.05)
Net profit margin+6.0%+7.9%+8.1%+7.6%+4.1%+1.2%-0.0%
EPS (₹)35.4740.1433.2125.6112.252.550.02
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital26.7624.4824.4823.3519.0818.2118.21
Reserves & surplus1,455956857608213139134
Shareholders' funds (net worth)1,481980882631232157153
Secured loans0.000.000.201.1827.5733.0743.80
Unsecured loans310278145120134107131
Total debt310278145121161140175
Total liabilities1,7971,2611,030754395300329
Assets
Gross block541439303251154133145
Net block467390229197129112128
Capital work in progress10.8529.858.564.010.003.810.75
Investments47.4745.9430.116.995.814.363.77
Inventories681593440340250198219
Sundry debtors17.3618.2615.576.185.1812.189.38
Cash & bank balances59821234122539.3619.289.79
Loans & advances11059.5463.2963.7541.4025.9936.51
Total current assets1,406883860634336255274
Total current liabilities20013614112611295.9097.65
Net working capital1,206747719508224159177
Total assets1,7971,2611,030754395300329
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash24.9159.4227.0137.2717.149.797.29
Net cash from operating activities102(20.74)31.09(4.80)16.8662.3834.78
Net cash from investing activities(372)44.55(123)(254)(23.25)(10.16)(12.65)
Net cash from financing activities329(58.31)12424926.53(44.88)(19.62)
Net change in cash59.32(34.51)32.41(10.26)20.137.352.50
Closing cash59821234122539.3619.289.79
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+28.8%+25.4%+26.6%+36.6%+49.3%-15.6%-
EBITDA growth+7.2%+25.9%+31.2%+69.0%+69.4%-21.4%-
PBT growth-3.1%+21.2%+36.1%+155.6%+394.6%+404.8%-93.2%
Net income growth-2.3%+22.0%+35.4%+154.6%+407.8%+9340.0%-
Revenue CAGR (3Y)+26.9%+29.4%+37.2%+19.9%+9.3%+2.8%+12.1%
EBITDA CAGR (3Y)+21.0%+40.8%+55.4%+31.0%+34.1%+43.5%+129.3%
Profitability & leverage
Net income margin+5.9%+7.9%+8.2%+7.6%+4.1%+1.2%+0.0%
Return on capital employed+10.8%+13.9%+14.6%+17.4%+15.2%+8.3%+9.3%
Return on net worth+7.7%+10.6%+10.7%+13.9%+12.0%+3.0%-0.0%
Debt / equity0.240.230.180.330.780.760.60
Long-term debt / equity0.200.190.140.240.50-17,388.52-18,943.74
Interest cover30.1820.4620.2823.7854.75215.74127.82
Efficiency & per share
Fixed asset turnover3.293.383.603.894.032.785.11
Inventory turnover2.532.422.562.672.581.862.16
Debtors turnover90.5474.0091.76138.8366.5135.8653.46
EPS (₹)35.4740.1433.2125.6112.252.550.02
Dividend per share (₹)0.000.000.000.000.000.000.00
Book value per share (₹)553.66400.35360.27270.32121.5386.2883.76

To see the full year-wise statements and ratios of Ethos Limited, buy the company report.

Board of directors of Ethos Limited

Ethos has 7 current directors and 16 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Anil KhannaDirector05 Nov 200719 Years 0 MonthsCurrent
Yashovardhan Saboo
Also directs: Saboo Ventures LLP, Cognition Digital LLP, KDDL Limited and 5 more
Whole-Time Director05 Nov 200719 Years 0 MonthsCurrent
Pranav Shankar Saboo
Also directs: Cognition Digital LLP, Dream Digital Technology Private Limited, Saboo Housing Projects LLP and 2 more
Managing Director18 Jan 20242 Years 9 MonthsCurrent
Charu Sharma
Also directs: Pro Sport Network LLP, Bid & Hammer Auctioneers Private Limited
Director03 Nov 20224 Years 0 MonthsCurrent
Munisha GandhiDirector27 Sep 20224 Years 1 MonthsCurrent
Sundeep KumarDirector06 Oct 201610 Years 1 MonthsCurrent
Showing 6 of 7 current directors. View all directors

Auditor

Ethos Limited is audited by WALKER CHANDIOK & CO. LLP for the financial year 2025.

Auditor firmFinancial yearFirm registration number
WALKER CHANDIOK & CO. LLPFY 2025001076N/N500013

Shareholding

Shareholding for the quarter ended Sep 2026: promoters hold 50.60%, foreign institutional investors hold 11.30%, domestic institutional investors hold 23.90% and retail and other public shareholders hold 14.20%.

Promoters: 50.60%DII (Domestic Institutional): 23.90%FII (Foreign Institutional): 11.30%Retail & Others: 14.20%
Sep 2026
QUARTER
50.60% Promoters
23.90% DII (Domestic Institutional)
11.30% FII (Foreign Institutional)
14.20% Retail & Others
Promoter holding - history
Now 50.60% · Sep 2026High 50.60% · Dec 2025Low 50.60% · Dec 2025
49%49.8%50.5%51.3%52%Dec 2025Mar 2026Jun 2026Sep 2026Dec 2025: 50.60%Mar 2026: 50.60%Jun 2026: 50.60%Sep 2026: 50.60%50.60%50.60%
Shareholding trend - last 6 quarters
Sep 2026Jun 2026Mar 2026Dec 2025
Promoters50.60%50.60%50.60%50.60%
Public49.40%49.40%49.40%49.40%

Charges & borrowings

Open charges
₹3 Cr
Satisfied charges
₹252.94 Cr
Breakdown by lending institutions
Others₹3.00 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
06 Apr 2026101283104Others₹3 CrOpen
15 Apr 2025101084881The Hongkong and Shanghai Banking Corporation Limited₹15 CrSatisfied
22 May 2024100932815Axis Bank Limited₹30 CrSatisfied
19 Apr 2024100909519Hdfc Bank Limited₹30 CrSatisfied
05 Mar 2024100892348Others₹20 CrSatisfied

To see the full charge records of Ethos Limited, buy the company report.

Total charge records: 26 View all charges

Deals & funding

Ethos Limited has 43 deals on record (20 funding rounds, 13 market trades, 7 secondary share transfers), with disclosed funding of ₹170.04 Cr; the latest was in July 2026.

Total deals
43
Funding rounds
20
Market trades
13
Secondary share transfers
7
IPO
1
Disclosed funding
₹170.04 Cr

Deals on record (5 of 43)

WhenDealAmountParties
Aug 2024Market trade₹45.26 CrSeller: Saboo Ventures LLP
Aug 2024Market trade₹41.44 CrSeller: Mahen Distribution Limited
Aug 2024Market trade₹41.44 CrSeller: Mahen Distribution Limited
Mar 2024Market trade₹101.24 CrBuyer: Invesco Mutual Fund
Seller: KDDL Limited
Dec 2023Market trade₹65.19 CrBuyer: Eastspring Investments India Consumer Equity Open Limited
Seller: Mahen Distribution Limited

To see the full deal history of Ethos Limited, buy the company report.

Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

Credit ratings & regulatory alerts

Ethos Limited was last rated by Icra on 09 Jun 2022.

Rating agencyRated onRating
Icra09 Jun 2022

To see the full credit ratings and regulatory alerts of Ethos Limited, buy the company report.

MSME payment delays

Ethos Limited has 12 MSME Form 1 returns on record between 2019 and 2024, listing 121 overdue payments to 17 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.

Suppliers with reported dues (5 of 17)

SupplierAmount dueDue sinceReported on
We4u India
an individual supplier
an individual supplier
Antaeus Information Private Limited
Group Dca LLP

To see the full MSME payment records of Ethos Limited, buy the company report.

Individuals and sole proprietors among the suppliers are not named.

Group structure & subsidiaries

Ethos has 1 subsidiary company and 1 joint venture. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.

1
Subsidiary companies
1
Joint ventures
Key subsidiaries
Company NameCINShares held
RF Brands Private LimitedU47732HR2024PTC118558

To see the full group structure of Ethos Limited, buy the company report.

Employees & EPFO

Ethos Limited has a workforce of 1,079 employees on its EPFO records as of May 2026, across 1 active EPFO establishment.

Employee count
1,079
Active EPFO establishments
1
Employee growth
34.7%

Headcount by financial year

Financial yearEmployees (EPFO)
FY 2026-271,079
FY 2025-26
FY 2024-25
FY 2023-24
FY 2022-23
FY 2021-22
FY 2020-21
FY 2019-20
FY 2018-19
FY 2017-18
FY 2016-17

To see the full employee and EPFO history of Ethos Limited, buy the company report.

GST

Ethos has 23 GST registrations: 22 active and 1 cancelled or inactive. The first 4 active GSTINs are listed below.

Total GSTINs
23
Active
22
Cancelled / inactive
1
GSTINStateStatusRegistered on
03AADCK2345N1ZKPunjabActive01 Jul 2017
04AADCK2345N1ZIChandigarhActive01 Jul 2017
06AADCK2345N1ZEHaryanaActive01 Jul 2017
07AADCK2345N1ZCDelhiActive01 Jul 2017

To see the full GST registrations and return filing status of Ethos Limited, buy the company report.

Recent activity

Ethos Limited has 33 board changes on record since 2007: 20 appointments and 13 cessations. The latest: Munish Gupta was appointed as Whole-Time Director on 12 May 2026.

Appointed
Munish Gupta was appointed as Whole-Time Director.
Charges
A charge registered on 27 Feb 2024 via Charge ID 100882591 with Others was fully satisfied on 29 Apr 2026.
Charges
A charge with Others amounted to Rs. 3.00 Cr with Charge ID 101283104 was registered on 06 Apr 2026.
Filing
Ethos Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Himachal Pradesh.
Charges
A charge registered on 20 Feb 2024 via Charge ID 100880843 with State Bank Of India was fully satisfied on 07 Feb 2026.
Charges
A charge registered on 15 Apr 2025 via Charge ID 101084881 with The Hongkong And Shanghai Banking Corporation Limited was fully satisfied on 03 Oct 2025.
Charges
A charge registered on 19 Apr 2024 via Charge ID 100909519 with Hdfc Bank Limited was fully satisfied on 30 Sep 2025.
Charges
A charge registered on 05 Mar 2024 via Charge ID 100892348 with Others was fully satisfied on 24 Sep 2025.
AGM
Ethos Limited last Annual general meeting of members was held on 15 Sep 2025 as per latest MCA records.
Charges
A charge with The Hongkong And Shanghai Banking Corporation Limited of Rs. 15.00 Cr registered on 15 Apr 2025 with Charge ID 101084881 was modified on 23 Apr 2025.
Charges
A charge with The Hongkong And Shanghai Banking Corporation Limited amounted to Rs. 15.00 Cr with Charge ID 101084881 was registered on 15 Apr 2025.
Ceased
Chitranjan Agarwal ceased to be Director.

82 earlier events are in the company report.

News

Ethos: Company Set To Meet Analysts And Investors On September 30 At 3:30 PM
23 Sep 2026 · Exchange Update

From our blog

Frequently asked questions

Ethos is an active public limited company based in Parwanoo, Himachal Pradesh, India. The company works in accessories retail and distribution, within the consumer goods industry. It was incorporated on 05 November 2007 (19+ years old) and is registered under CIN L52300HP2007PLC030800. Listed on BSE: 543532 and NSE: ETHOSLTD.

Ethos reported revenue of ₹1,612.24 Cr for FY 2025-26 (up 28.8% YoY) based on consolidated financials.

Ethos has 7 current directors:

The latest financial statements of Ethos on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 15 September 2025. Year-wise statements from 2015 are in the company report.

The GSTIN of Ethos is 03AADCK2345N1ZK, registered in Punjab. The company has 23 GST registrations in all, of which 22 are active and 1 is cancelled or inactive. Other active GSTINs include 04AADCK2345N1ZI (Chandigarh), 06AADCK2345N1ZE (Haryana), 07AADCK2345N1ZC (Delhi).

The CIN (Corporate Identification Number) of Ethos is L52300HP2007PLC030800. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Yes. Ethos is a listed company as per MCA records. Its shares are listed on both BSE (code: 543532) and NSE (symbol: ETHOSLTD).

Ethos has 38 court cases on record: 21 filed by the company and 17 filed against it. 8 are pending. Most are in the high courts.

Ethos was incorporated on 05 November 2007, making it 19+ years old. It is registered with the Registrar of Companies, Himachal Pradesh.

Ethos has 43 deals on record (20 funding rounds, 13 market trades, 7 secondary share transfers), with disclosed funding of ₹170.04 Cr; the latest was in July 2026.

Munish Gupta was appointed as Whole-Time Director on 12 May 2026. Chitranjan Agarwal ceased to be Director on 15 Apr 2025. Manoj Ayakad Subramanian ceased to be Whole-Time Director on 01 Apr 2025. Ethos has 33 board changes on record in total.