Slide 1: Ethos Limited Results Presentation Q3 & 9M FY26
1 ETHOS LIMITED Results Presentation Q3 & 9M FY26 | 6th February’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: Q3 & 9M FY26 Performance
Q3 & 9M FY26 Performance 2 3
Slide 4: Ethos at a Glance
I Ethos at a Glance 4 89 Boutiques Watch 86 Lifestyle 3 80+ Brands Exclusive 49 Presence State 19 City 27 *As on 6th February 2026, ^Includes Relocated Second Movement Boutique
Slide 5: Management Commentary
I Management Commentary 5 Commenting on the Results by Mr. Pranav Saboo – MD & CEO We delivered a strong performance in 9MFY26, with revenues growing 27.4% year-on-year to Rs 1,198.2 cr. This growth reflects the sustained strength of our curated luxury brand portfolio, deeper customer engagement, an
Slide 6: Key Highlights 9MFY26 – Without IND AS 116
I Key Highlights 9MFY26 – Without IND AS 116 6 Revenue EBITDA PBT^ Consolidated Rs 1,198.2 Cr Rs 137.6 Cr Rs 111.7 Cr +27.4% YoY +12.8% YoY 3.3% YoY Rs 1,209.7 Cr Rs 133.3 Cr Rs 110.9 Cr Standalone +28.6% YoY +10.2% YoY +3.2% YoY Opened 21 Boutiques Exclusive Brands +4 Billing Pre-Owned (CPO) 10 Exc
Slide 7: Financial Summary | Consolidated Performance Snapshot | Without IND AS 116
I Financial Summary | Consolidated Performance Snapshot | Without IND AS 116 7 All Figures in Rs. Crs. Revenue from operations EBITDA EBITDA Margins PBT* +26.7% +17.1% +7.8% 468.5 57.4 13.1% 47.0 11.9% 43.6 369.9 49.0 Q3FY26 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Revenue from operat
Slide 8: Financial Summary | Consolidated Performance Snapshot (Reported)
I Financial Summary | Consolidated Performance Snapshot (Reported) 8 All Figures in Rs. Crs. Revenue from operations EBITDA EBITDA Margins PAT after MI* +26.7% +22.5% +3.2% 468.5 76.9 16.7% 15.9% 29.5 30.4 Q3FY26 369.9 62.8 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Revenue from operati
Slide 9: Consolidated Reported Profit & Loss Statement | Without IND AS 116
I Financial Summary | Consolidated Reported Profit & Loss Statement | Without IND AS 116 9 Profit and Loss (in Rs. Crs) Q3FY26 Q3FY25 YoY Q2FY26 QoQ 9MFY26 9MFY25 YoY FY25 Revenue from Operations 468.5 369.9 26.7% 383.4 22.2% 1,198.2 940.3 27.4% 1,251.6 Other Income 15.2 5.2 11.6 32.7 17.7 22.8 Tota
Slide 10: Standalone Reported Profit & Loss Statement | Without IND AS 116
I Financial Summary | Standalone Reported Profit & Loss Statement | Without IND AS 116 10 Profit and Loss (in Rs. Crs) Q3FY26 Q3FY25 YoY Q2FY26 QoQ 9MFY26 9MFY25 YoY FY25 Revenue from Operations 470.9 369.9 27.3% 392.5 20.0% 1,209.7 940.3 28.6% 1,251.6 Other Income 12.9 6.4 10.5 29.1 19.1 23.3 Total
Slide 11: Consolidated Reported Profit & Loss Statement
I Financial Summary | Consolidated Reported Profit & Loss Statement 11 Profit and Loss (in Rs. Crs) Q3FY26 Q3FY25 YoY Q2FY26 QoQ 9MFY26 9MFY25 YoY FY25 Revenue from Operations 468.5 369.9 26.7% 383.4 22.2% 1,198.2 940.3 27.4% 1,251.6 Other Income 15.6 5.8 11.6 32.9 18.3 24.3 Total Income 484.1 375.7
Slide 12: Standalone Reported Profit & Loss Statement
I Financial Summary | Standalone Reported Profit & Loss Statement 12 Profit and Loss (in Rs. Crs) Q3FY26 Q3FY25 YoY Q2FY26 QoQ 9MFY26 9MFY25 YoY FY25 Revenue from Operations 470.9 369.9 27.3% 392.5 20.0% 1,209.7 940.3 28.6% 1,251.6 Other Income 13.2 7.0 10.5 29.4 19.7 24.9 Total Income 484.0 376.9 4
Slide 13: Ethos Boutique Locations
I Ethos Boutique Locations 13 Our Locations • 89 boutiques in 27 cities, including our second Haute Horology boutique in Mumbai and our Mohali Chandigarh second exclusive Rimowa boutique in New Ludhiana Dehradun Delhi. • Spread across the major metros, our boutiques New Delhi Gurugram house the fine
Slide 14: Store Addition in Q4FY26: 1 Watch Boutique
Store Addition in Q4FY26 (Jan-Till Date) 1 Watch Boutique 2 14
Slide 15: Ethos Watch Boutiques - 3rd Boutique in Chandigarh
2 II Ethos Watch Boutiques- 3rd Boutique in Chandigarh 15 Ethos Limited, SCO-6, Madhya Marg, Sector 8C, Chandigarh, Chandigarh - 160018 15
Slide 16: Store Addition in Q3FY26
Store Addition in Q3FY26 (Oct-Dec) 4 Watch Boutiques 1 Rimowa Boutique 2 16
Slide 17: Tudor: 8th Boutique in City of Time, Gurugram
2 II Tudor : 8th Boutique in City of Time, Gurugram 17 City of Time, GF-8, Emaar Capital Tower 2, Near Guru Dronacharya Metro Station, Sector 26, , Haryana - 122002 17
Slide 18: Ethos Watch Boutiques - 1st Boutique in Nucleus Mall, Ranchi
2 II Ethos Watch Boutiques- 1st Boutique in Nucleus Mall, Ranchi 18 Ground Floor, Nucleus Mall, Ranchi Square, Circular Road, Nearby Being Human, Ranchi, Jharkhand, 834001 18
Slide 19: Ethos Summit: Unity One Mall, New Delhi
II Ethos Summit: Unity One Mall, New Delhi 19 G-27, Unity One, Netaji Subhash Place, MRTS Station Opposite Wazirpur District Centre, Pitampura
Slide 20: Ethos Haute Horology: 3rd Boutique in Jio World Plaza, Mumbai
II Ethos Haute Horology: 3rd Boutique in Jio World Plaza, Mumbai 20 Unit No. 1-2, 2nd Floor, Jio World Plaza Mall, G Block BKC, Bandra East, Mumbai, Maharashtra - 400055
Slide 21: RIMOWA: DLF Emporio, New Delhi
II RIMOWA: DLF Emporio, New Delhi 21 1/F, DLF Emporio, Nelson Mandela Marg, Vasant Kunj II, New Delhi, 110070 21
Slide 22: Store Addition in Q2FY26 (Jul-Sep'25)
Store Addition in Q2FY26 (Jul-Sep’25) 3 Watch Boutiques 1 Relocation of CPO Boutique 2 22
Slide 23: Boutiques Opened in Q2FY26
II Boutiques Opened in Q2FY26 23 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 23
Slide 24: Store Addition in Q1FY26
Store Addition in Q1FY26 11 Watch Boutiques 1 Messika Lifestyle Boutique 2 24
Slide 25: Boutiques Opened in Q1FY26
II Boutiques Opened in Q1FY26 25 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 26: Messika: 1st Boutique in India and 3rd at The Chanakya Mall
II Messika: 1st Boutique in India and 3rd Boutique at The Chanakya Mall, New Delhi 26 Yashwant place, Community Centre, Unit-108A, First Floor, The Chanakya, Chanakyapuri, New Delhi, Delhi - 110021
Slide 27: 4 New Brands Added
Brand Addition in 9MFY26 (Apr-Dec’25) 4 New Brands Added 2 27
Slide 28: Brand additions in 9MFY26
V Brand additions in 9MFY26 28 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 29: Ethos Holding & Subsidiary Structure
VI Ethos Holding & Subsidiary Structure 29 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 Retai
Slide 30: For further information, please contact
30 30 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