Slide 1: Stock exchange cover letter for investor presentation
Ref. No.: Ethos/Secretarial/2025-26/46 Dated: August 14, 2025 Corporate Service Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Bandra, Mumbai – 400001 Mumbai - 400051 Scri
Slide 2: Results Presentation Q1FY26
ETHOS LIMITED Results Presentation Q1FY26 | 14th August’25
Slide 3: Safe Harbor
I Safe Harbor 2 This presentation and the accompanying slides (the “Presentation”), which has been prepared by Ethos Limited, a material subsidiary of KDDL Limited, solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securiti
Slide 4: Q1FY26 Performance
Q1FY26 Performance 3
Slide 5: Management Commentary
I Management Commentary 4 Commenting on the Results by Mr. Pranav Saboo – MD & CEO “We are pleased to report that Ethos Limited has delivered robust top-line growth of 26.7% in Q1 FY26, demonstrating the strength of our brand portfolio and the continued aspiration for luxury timepieces in India. Thi
Slide 6: Key Highlights Q1FY26
I Key Highlights Q1FY26 5 “Excellence crafted over time” In Q1FY26, REVENUE -3 Exclusive Watch Brands added Billing from CPO grew by 1 4 Rs 346.3 Cr -8 New Boutiques opened 42% YoY EBITDA Exclusive Brand Boutique Revenue Contribution for ASP for Q1FY26 stood at Rs 2.13lac Rs 52.0 Cr 2 5 Q1FY26 stood
Slide 7: Financial Summary | Consolidated Performance Snapshot (Reported)
I Financial Summary | Consolidated Performance Snapshot (Reported) 6 All Figures in Rs. Crs. Revenue from operations EBITDA EBITDA Margin PAT 346.3 49.7 52.0 17.8% 22.8 Q1FY26 273.2 14.8% 19.1 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Revenue from operations EBITDA EBITDA Margin PAT 1,
Slide 8: Performance Snapshot with Adjustment of Forex Fluctuation
I Financial Summary | Consolidated Performance Snapshot (Reported) with adjustment of Forex Fluctuation 7 If the CHF/INR was not volatile, the EBITDA, EBITDA Margin% and PAT would be All Figures in Rs. Crs. Revenue from operations EBITDA EBITDA Margin PAT +26.7% +16.0% 57.6 22.8 23.3 346.3 49.7 17.8
Slide 9: Consolidated Performance Snapshot | Without IND AS 116
I Financial Summary | Consolidated Performance Snapshot | Without IND AS 116 8 All Figures in Rs. Crs. Revenue from operations EBITDA EBITDA Margin PBT 346.3 36.8 36.6 32.9 13.2% 29.1 Q1FY26 273.2 10.4% Q1FY25 Q1FY26 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Revenue from operations EBITDA EBITDA Mar
Slide 10: Consolidated Operational Highlights
I Financial Summary | Consolidated Operational Highlights 9 Total Billings Digitally assisted sale 401.2 148.0 318.1 Q1FY26 97.8 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Total Billings Digitally assisted sale 1,456.6 492.0 1,163.8 358.6 FY25 FY24 FY25 FY24 FY25
Slide 11: Consolidated Reported Profit & Loss Statement
I Financial Summary | Consolidated Reported Profit & Loss Statement 10 Profit and Loss (in Rs. Crs) Q1FY26 Q1FY25 YoY Q4FY25 QoQ FY25 Revenue from Operations 346.3 273.2 26.7% 311.3 11.2% 1,251.6 Other Income 5.8 6.4 6.0 24.3 Total Income 352.2 279.6 317.3 1,275.9 Cost of Goods Sold 247.3 192.3 214.
Slide 12: Consolidated Reported P&L | Without IND AS 116
I Financial Summary | Consolidated Reported Profit & Loss Statement | Without IND AS 116 11 Profit and Loss (in Rs. Crs) Q1FY26 Q1FY25 YoY Q4FY25 QoQ FY25 Revenue from Operations 346.3 273.2 26.7% 311.3 11.2% 1,251.6 Other Income 5.8 6.4 5.0 22.8 Total Income 352.2 279.6 316.3 1274.4 • CHF/INR volat
Slide 13: Ethos is in unique position to leverage its large base of Luxury Customers
I Ethos is in unique position to leverage its large base of Luxury Customers 12 Creating engaging shopping experience over the years has enabled us to build a large Luxury Customer base Demand for our products is directly proportional to the number of HNIs Share of Luxury & High Average Selling Fact
Slide 14: Ethos Store Locations
I Ethos Store Locations 13 ETHOS WATCH BOUTIQUES Mohali Chandigarh Our Store Locations Ludhiana Dehradun Delhi / NCR • 80* stores across 26 cities in India, including Gurugram Noida Siliguri City of Time, India’s Largest Watch Destination Jaipur Lucknow Guwahati • The City of Time houses 5 Mono-Bout
Slide 15: Boutiques Opened in Q1FY26
14 Boutiques Opened in Q1FY26 (Apr-Jun’25) 11 Watch Boutiques (7 new Boutiques) 1 Messika Lifestyle Boutique (1 New Boutique) 14
Slide 16: City of Time, Gurugram
II Panerai, Ulysse Nardin, H. Moser & Cie., Breitling, Bell & Ross, Ethos Haute Horology And Ethos Watch Boutiques - City of Time, Gurugram 15 “City of Time" — a 22,000 sq. ft. Haute Horology destination with 5 exclusive brand boutiques, 2 multi-brand boutiques (50+ independent watch brands), watchm
Slide 17: Ethos Haute Horology And Ethos Watch Boutiques - City of Time
II Panerai, Ulysse Nardin, H. Moser & Cie., Breitling, Bell & Ross, Ethos Haute Horology And Ethos Watch Boutiques - City of Time, Gurugram 16 Emaar Capital Tower 2, Near Guru Dronacharya Metro Station, Sector 26, City Of Time, Gurugram
Slide 18: Ethos Haute Horology
II Ethos Haute Horology 17 City of Time, GF-8,9,10, Emaar Capital Tower 2, Near Guru Dronacharya Metro Station , Sector 26, Gurugram, Haryana - 122022
Slide 19: Ethos Haute Horology Cigar Lounge
II Ethos Haute Horology 18 Cigar Lounge Private Viewing Lounge In-House Bar City of Time, GF-8,9,10, Emaar Capital Tower 2, Near Guru Dronacharya Metro Station , Sector 26, Gurugram, Haryana - 122022
Slide 20: Ethos Watch Boutiques
II Ethos Watch Boutiques 19 City of Time, GF-3,4,5, Emaar Capital Tower 2, Near Guru Dronacharya Metro Station , Sector 26, Gurugram, Haryana - 122022
Slide 21: Ethos Watch Boutiques - Watchmaking Zone
II Ethos Watch Boutiques - Watchmaking Zone 20 City of Time, GF-3,4,5, Emaar Capital Tower 2, Near Guru Dronacharya Metro Station , Sector 26, Gurugram, Haryana - 122022
Slide 22: Messika, The Chanakya, New Delhi
II Messika, The Chanakya, New Delhi 21 Launched India’s first exclusive Messika Paris boutique, marking the French jewellery house’s entry into India and strengthening our global luxury brand portfolio Yashwant place, Community Centre, Unit-108A, First Floor, The Chanakya, Chanakyapuri, New Delhi, D
Slide 23: Rolex, Phoenix Mall Of Asia - Bengaluru
II Rolex, Phoenix Mall Of Asia - Bengaluru 22 UG 06, Phoenix Mall Of Asia, 239/240, Byatarayanapura, Hobli, Bellary Rd, Yelahanka, Bengaluru, Karnataka - 560092 22
Slide 24: Panerai Boutique, The Chanakya, New Delhi
II Panerai Boutique, The Chanakya, New Delhi 23 G-5, The Chanakya, Yashwant Place Commercial Complex, Opposite Chanakyapuri Post Office, Chanakyapuri, New Delhi, Delhi - 110021 23
Slide 25: Jaeger-LeCoultre, The Chanakya, New Delhi
II Jaeger-LeCoultre, The Chanakya, New Delhi 24 G-5, The Chanakya, Yashwant Place Commercial Complex, Opposite Chanakyapuri Post Office, Chanakyapuri, New Delhi, Delhi - 110021 24
Slide 26: Ethos Summit DLF Mall Of India- Noida
II Ethos Summit DLF Mall Of India- Noida 25 Unit No. G-B115, Ground floor, DLF Mall Of India, Sector 18, Noida, Uttar Pradesh - 201301 25
Slide 27: Brands added in Q1FY26
26 Brands added in Q1FY26 (Apr-Jun’25) 3 Watch Brands 1 Lifestyle Brand 26
Slide 28: New Brand - Fabergé
XI New Brand - Fabergé 27 Fabergé Fabergé is a legendary luxury brand best known for its exquisitely crafted jewelled eggs created for the Russian imperial family in the late 19th and early 20th centuries. Founded in 1842 in St. Petersburg, Russia, by Gustav Fabergé, the house rose to international
Slide 29: New Brand - D1 Milano
III New Brand - D1 Milano 28 D1 Milano D1 Milano is an Italian Watch Brand founded in 2013, known for its Sleek, Fashion-Forward Designs. Combining Luxury Aesthetics with Accessible Pricing, the Brand offers Minimalist, Modern timepieces like the Ultra Thin and Chronograph Collections. With Italian
Slide 30: New Brand - UNIMATIC
III New Brand - UNIMATIC 29 UNIMATIC Unimatic is an Italian watch brand known for its minimalist, utilitarian design and limited-edition releases. Founded in 2015, it blends modern aesthetics with vintage military inspiration. The brand focuses on durability, precision, and simplicity, often using r
Slide 31: New Brand - FPM Milano
III New Brand - FPM Milano 30 FPM Milano Founded in Milan in 1946, FPM Milano (Fabbrica Pelletterie Milano) crafts luxury travel accessories and leather goods. Renowned for its Bank collection— aluminum trunks with signature butterfly locks and Italian leather accents—the brand blends artisanal craf
Slide 32: Ethos Holding & Subsidiary Structure
Ethos Holding & Subsidiary Structure 31 KDDL (Holding Company : 50.59%*) (Manufacturer of watch components) ETHOS LIMITED (Premium & Luxury Retail) Cognition Digital LLP Ethos Lifestyle Pvt. Ltd. Ficus Trading LLC Silvercity Brands AG Favre Leuba GMBH Pasadena Retail Pvt Ltd. (75.05%*) (100% WOS) (J
Slide 33: For further information, please contact
32 For further information, please contact: Company : Investor Relation Advisors Ethos Ltd. Strategic Growth Advisors Pvt. Ltd. CIN : L52300HP2007PLC030800 CIN : U74140MH2010PTC204285 Mr. Munish Gupta – Chief Financial Officer Mr. Mandar Chavan / Mr. Shogun Jain munish.gupta@ethoswatches.com +91 969