Slide 1: Ethos Limited Results Presentation Q4 & FY26
1 ETHOS LIMITED Results Presentation Q4 & FY26 | 12th May’26
Slide 2: 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 3: Q4 & FY26 Performance
Q4 & FY26 Performance 2 3
Slide 4: Ethos at a Glance
I Ethos at a Glance 4 98 Boutiques Watch 95 Lifestyle 3 80+ Brands Exclusive 49 Presence State+UT 19 City 32 *As on 12th May 2026, ^Includes Relocated Second Movement Boutique
Slide 5: Management Commentary by Mr. Pranav Saboo, MD & CEO
I Management Commentary 5 Commenting on the Results by Mr. Pranav Saboo – MD & CEO FY26 marked a year of sustained momentum for Ethos Limited, with consolidated revenues reaching ₹1,612.2 crore, reflecting a 28.8% growth over ₹1,251.6 crore in FY25 and 33.3% growth in Q4 FY’26. The performance was d
Slide 6: Key Highlights FY26 – Without IND AS
I Key Highlights FY26 – Without IND AS 116 6 Standalone Consolidated Same Store Sales Growth Exclusive Brands Added 4 REVENUE Rs 1,612.6 Cr Rs 1,612.2 Cr (SSSG) +28.8% YoY 14.2% 3 Watches 1 Luggage +28.8% YoY Billing Pre-Owned (CPO) Average Selling Price EBITDA Rs 172.9 Cr Rs 182.7 Cr (ASP) +7.8% Yo
Slide 7: Financial Summary | Consolidated Performance Snapshot | Without IND AS 116
II Financial Summary | Consolidated Performance Snapshot | Without IND AS 116 7 All Figures in Rs. Crs. Revenue from operations EBITDA EBITDA Margins PBT* +33.3% +15.3% +6.3% 414.0 45.0 12.3% 32.7 34.8 39.1 10.6% Q4FY26 311.3 Q4FY25 Q4FY26 Q4FY25 Q4FY26 Q4FY25 Q4FY26 Q4FY25 Q4FY26 Revenue from opera
Slide 8: Financial Summary | Consolidated Performance Snapshot (Reported)
II Financial Summary | Consolidated Performance Snapshot (Reported) 8 All Figures in Rs. Crs. Revenue from operations EBITDA EBITDA Margins PAT after MI* +33.3% +20.7% -2.9% 414.0 64.7 16.9% 22.7 22.0 53.6 15.1% Q4FY26 311.3 Q4FY25 Q4FY26 Q4FY25 Q4FY26 Q4FY25 Q4FY26 Q4FY25 Q4FY26 Revenue from operat
Slide 9: Consolidated Reported Profit & Loss Statement | Without IND AS 116
II Financial Summary | Consolidated Reported Profit & Loss Statement | Without IND AS 116 9 Profit and Loss (in Rs. Crs) Q4FY26 Q4FY25 YoY Q3FY26 QoQ FY26 FY25 YoY Revenue from Operations 414.0 311.3 33.3% 468.5 -11.4% 1,612.2 1,251.6 28.8% Other Income 12.7 5.0 15.2 45.3 22.8 Total Income 426.7 316
Slide 10: Consolidated Reported Profit & Loss Statement
II Financial Summary | Consolidated Reported Profit & Loss Statement 10 Profit and Loss (in Rs. Crs) Q4FY26 Q4FY25 YoY Q3FY26 QoQ FY26 FY25 YoY Revenue from Operations 414.0 311.3 33.3% 468.5 -11.6% 1,612.2 1,251.6 28.8% Other Income 13.3 6.0 15.5 46.2 24.3 Total Income 427.3 317.3 484.0 1,658.4 1,2
Slide 11: Consolidated Balance Sheet
II Financial Summary | Consolidated Balance Sheet 11 Equity & Liabilities (in Rs. Crs) Mar-26 Mar-25 Assets (in Rs. Crs) Mar-26 Mar-25 Total Equity 1,664.4 982.2 Non - Current Assets 708.5 519.1 Share Capital 26.8 24.5 Property Plant & Equipment's 183.3 128.3 Other Equity 1,461.2 957.7 Investment in
Slide 12: Standalone Reported Profit & Loss Statement | Without IND AS 116
II Financial Summary | Standalone Reported Profit & Loss Statement | Without IND AS 116 12 Profit and Loss (in Rs. Crs) Q4FY26 Q4FY25 YoY Q3FY26 QoQ FY26 FY25 YoY Revenue from Operations 402.9 311.3 29.4% 470.9 -14.4% 1,612.6 1,251.6 28.8% Other Income 10.6 4.2 12.9 39.7 23.3 Total Income 413.5 315.
Slide 13: Standalone Reported Profit & Loss Statement
II Financial Summary | Standalone Reported Profit & Loss Statement 13 Profit and Loss (in Rs. Crs) Q4FY26 Q4FY25 YoY Q3FY26 QoQ FY26 FY25 YoY Revenue from Operations 402.9 311.3 29.4% 470.9 -14.2% 1,612.6 1,251.6 28.8% Other Income 11.1 5.2 13.2 40.5 24.9 Total Income 414.1 316.5 484.0 1,653.1 1,276
Slide 14: Standalone Balance Sheet
II Financial Summary | Standalone Balance Sheet 14 Equity & Liabilities (in Rs. Crs) Mar-26 Mar-25 Assets (in Rs. Crs) Mar-26 Mar-25 Total Equity 1481.5 980.1 Non - Current Assets 590.2 513.3 Share Capital 26.8 24.5 Property Plant & Equipment's 167.2 127.0 Other Equity 1,454.7 955.6 Intangible asset
Slide 15: 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 15 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 Pric
Slide 16: Ethos Boutique Locations
II Ethos Boutique Locations 16 Our Locations Srinagar • 98 boutiques in 32 cities, including our second Haute Mohali Horology boutique in Mumbai and our second exclusive Ludhiana Chandigarh Rimowa boutique in New Delhi. Dehradun • Spread across the major metros, our boutiques house Faridabad the fin
Slide 17: Store Addition in Q1FY27 (April-Till Date)
1717 Store Addition in Q1FY27 (April-Till Date) 4 Watch Boutique
Slide 18: Ethos Watch Boutique: 1st Boutique in Faridabad
II Ethos Watch Boutique: 1st Boutique in Faridabad 18 SHGF11, Ground Floor, Pacific - The Mall of Faridabad, 01 Bus Stand, KL Mehta Road, Aravalli Golf Course, New Industrial Township, Faridabad, Haryana - 121001 18
Slide 19: Ethos Summit: 1st Boutique in Agra
II Ethos Summit: 1st Boutique in Agra 19 Ethos limited, Anjana Central, No 3/2D, Khasra No 513, Mauza Lashkarpur, MG Road, Hariparvat, Agra 282002 19
Slide 20: Ethos Watch Boutique: 4th Boutique in Pune
II Ethos Watch Boutique: 4th Boutique in Pune 20 UG-61, Phoenix Market City, 207, Viman Nagar Road, Pune, Maharashtra - 411014
Slide 21: Ethos Summit: 4th Boutique in Jaipur
II Ethos Summit: 4th Boutique in Jaipur (Our Biggest Boutique – 8070 sq ft) 21 Plot No.-D-235-A in Yojna No.-5, Hanuman Nagar D, Amrapali Marg, Vaishali Nagar, Jaipur, Rajasthan -302021.
Slide 22: Store Addition in Q4FY26
2222 Store Addition in Q4FY26 6 Watch Boutique
Slide 23: Ethos Watch Boutiques: 3rd Boutique in Chandigarh
II Ethos Watch Boutiques- 3rd Boutique in Chandigarh 23 Ethos Limited, SCO-6, Madhya Marg, Sector 8C, Chandigarh, Chandigarh - 160018 23
Slide 24: Ethos Watch Boutiques: 1st Boutique Kanpur
II Ethos Watch Boutiques: 1st Boutique Kanpur 24 Unit No. G-12 & 13, Z Square Mall, Downtown, Kanpur, Uttar Pradesh - 208001 24
Slide 25: Jacob & Co.: 14th Boutique in New Delhi
II Jacob & Co. : 14th Boutique in New Delhi 25 Unit No.-243, First Floor, DLF Emporio, Nelson Mandela Marg, Vasant Kunj, New Delhi, Delhi - 110070 25
Slide 26: Ethos Watch Boutiques: 1st Boutique in Srinagar
II Ethos Watch Boutiques: 1st Boutique in Srinagar 26 Unit No-3, The Edition Mall, Sanat Nagar, Srinagar, Jammu & Kashmir - 190005 26
Slide 27: Ethos Watch Boutiques: 1st Boutique in Jodhpur
II Ethos Watch Boutiques: 1st Boutique in Jodhpur 27 Unit No. 2, Ground Floor, K Mall, Sushil Nagar, Oali Road, Jodhpur, Rajasthan-342003 27
Slide 28: Ethos Watch Boutiques: 13th Store in Mumbai
II Ethos Watch Boutiques: 13th Store in Mumbai 28 Shop No- 03, Hormuz Mansion, 72, Bhulabhai Desai Marg, Breach Candy, Cumballa Hill, Mumbai, Maharashtra - 400026 28
Slide 29: Store Addition in Q3FY26 (Oct-Dec)
2929 Store Addition in Q3FY26 (Oct-Dec) 4 Watch Boutiques 1 Rimowa Boutique
Slide 30: Boutiques Opened in Q3FY26
II Boutiques Opened in Q3FY26 30 2 Exclusive Boutiques 3 Multi-Brand Boutiques City of Time, GF-8, Emaar Capital Tower 2, Near Ground Floor, Nucleus Mall, Ranchi Square, Circular Unit No. 1-2, 2nd Floor, Jio World Plaza Mall, G Guru Dronacharya Metro Station, Sector 26, , Road, Nearby Being Human, R
Slide 31: Store Addition in Q2FY26 (Jul-Sep'25)
3131 Store Addition in Q2FY26 (Jul-Sep’25) 3 Watch Boutiques 1 Relocation of CPO Boutique
Slide 32: Boutiques Opened in Q2FY26
II Boutiques Opened in Q2FY26 32 Relocated CPO Boutique 2 Multi-Brand Boutiques 1 Exclusive Boutiques Ethos Boutique - Hyderabad Relocation of Second Movement Second Movement Boutique - Gurugram Ethos Boutique – Select City Walk, New Delhi Jacob & Co. Boutique - Mumbai 32
Slide 33: Store Addition in Q1FY26
3333 Store Addition in Q1FY26 11 Watch Boutiques 1 Messika Lifestyle Boutique
Slide 34: Boutiques Opened in Q1FY26
II Boutiques Opened in Q1FY26 34 8 Exclusive Boutiques 3 Multi-Brand Boutiques Rolex Boutique Panerai Boutique in Bengaluru in New Delhi Emaar Capital Tower 2, Near Guru Dronacharya Metro Station, Sector 26, City Of Time, Gurugram Jaeger-LeCoultre Ethos Summit in New Delhi in Noida
Slide 35: Messika: 1st Boutique in India and 3rd Boutique at The Chanakya Mall
II Messika: 1st Boutique in India and 3rd Boutique at The Chanakya Mall, New Delhi 35 Yashwant place, Community Centre, Unit-108A, First Floor, The Chanakya, Chanakyapuri, New Delhi, Delhi - 110021
Slide 36: Brand Addition in FY26: 4 New Brands Added
3636 Brand Addition in FY26 4 New Brands Added
Slide 37: Brand additions in FY26
II Brand additions in FY26 37 Fabergé is a legendary luxury brand best D1 Milano is an Italian watch brand founded known for its exquisitely crafted jewelled in 2013, known for its sleek, fashion-forward eggs created for the Russian imperial family designs. in the late 19th and early 20th centuries.
Slide 38: Ethos Holding & Subsidiary Structure
III Ethos Holding & Subsidiary Structure 38 KDDL (Holding Company : 50.12%*) (Manufacturer of watch components) ETHOS LIMITED (Premium & Luxury Retail) Cognition Ethos Lifestyle Micron Watch Ficus Silvercity Favre Leuba Pasadena Digital LLP Pvt. Ltd. Service Pvt. Ltd. Trading LLC Brands AG GMBH Reta
Slide 39: For further information, please contact
39 39 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