Ethos Limited — quarter and year ended March 31, 2026
| S.No. | Particulars | Quarter ended March 31, 2026 (Audited) | December 31, 2025 (Unaudited) | March 31, 2025 (Audited) | Year ended March 31, 2026 (Audited) | March 31, 2025 (Audited) |
|---|---|---|---|---|---|---|
| Income | ||||||
| 1 | Revenue from operations | 40,292.22 | 47,085.61 | 31,131.76 | 1,61,259.61 | 1,25,162.71 |
| 2 | Other income | 1,113.15 | 1,315.76 | 519.62 | 4,052.36 | 2,488.68 |
| 3 | Total income (1+2) | 41,405.37 | 48,401.37 | 31,651.38 | 1,65,311.97 | 1,27,651.39 |
| Expenses | ||||||
| 4 | Purchase of stock-in-trade | 28,908.03 | 36,542.63 | 21,611.85 | 1,24,322.80 | 1,02,965.61 |
| Changes in inventories of stock-in-trade | (153.37) | (2,726.54) | (137.44) | (8,795.20) | (15,297.88) | |
| Employee benefits expenses | 3,010.59 | 3,244.55 | 2,109.66 | 11,393.08 | 8,406.68 | |
| Finance costs | 707.42 | 724.93 | 518.12 | 2,655.01 | 1,940.25 | |
| Depreciation and amortisation expense | 2,326.58 | 2,356.36 | 1,691.60 | 8,675.38 | 6,291.06 | |
| Other expenses | 3,816.38 | 3,969.66 | 2,659.35 | 14,142.37 | 10,190.38 | |
| 5 | Total expenses | 38,615.63 | 44,111.59 | 28,453.14 | 1,52,393.44 | 1,14,496.10 |
| 6 | Profit before exception item and tax (3-4) | 2,789.74 | 4,289.78 | 3,198.24 | 12,918.53 | 13,155.29 |
| Statutory impact of new labour codes (Refer note 10) | – | 171.58 | – | 171.58 | – | |
| 7 | Profit before tax (5-6) | 2,789.74 | 4,118.20 | 3,198.24 | 12,746.95 | 13,155.29 |
| 8 | Tax expense | 711.50 | 1,054.74 | 777.69 | 3,254.72 | 3,329.88 |
| Current tax | 902.19 | 1,166.42 | 643.33 | 3,781.13 | 3,434.06 | |
| Deferred tax charge / (credit) | (190.69) | (111.68) | 134.36 | (526.41) | (104.18) | |
| 9 | Net Profit for the period/year (7-8) | 2,078.24 | 3,063.46 | 2,420.55 | 9,492.23 | 9,825.41 |
| 10 | Other Comprehensive Income (OCI) | |||||
| Items that will not be reclassified to profit or loss | ||||||
| Re-measurement of Profit / (loss) on defined benefit plans | 29.25 | 2.94 | (17.89) | 32.19 | (17.89) | |
| Income tax relating to items that will not be reclassified to profit and loss | (7.36) | (0.74) | 4.50 | (8.10) | 4.50 | |
| 11 | Total Comprehensive income for the period/year (9+10) | 2,100.13 | 3,065.66 | 2,407.16 | 9,516.32 | 9,812.02 |
| 12 | Paid-up equity share capital (face value of share of Rs.10) | 2,675.77 | 2,675.77 | 2,448.04 | 2,675.77 | 2,448.04 |
| 13 | Other Equity | 1,45,471.04 | 95,560.43 | |||
| 14 | Earnings per share of Rs. 10 each (not annualised) | |||||
| Basic | 7.73 | 11.54 | 9.89 | 36.27 | 40.14 | |
| Diluted | 7.73 | 11.54 | 9.89 | 36.27 | 40.14 |
| Particulars | March 31, 2026 | December 31, 2025 | March 31, 2025 | March 31, 2026 | March 31, 2025 |
|---|---|---|---|---|---|
| Re-measurement of Profit / (loss) on defined benefit plans | 29.25 | 2.94 | (17.89) | 32.19 | (17.89) |
| Income tax relating to items that will not be reclassified to profit and loss | (7.36) | (0.74) | 4.50 | (8.10) | 4.50 |
| Particulars | As at March 31, 2026 | As at March 31, 2025 |
|---|---|---|
| ASSETS | ||
| Non-current assets | ||
| Property, plant and equipment | 15,630.80 | 9,720.70 |
| Capital work-in-progress | 1,085.20 | 2,981.35 |
| Intangible assets | 4,255.44 | 4,297.72 |
| Right-of-use assets | 26,849.14 | 25,005.71 |
| Intangible assets under development | 0.00 | 3.50 |
| Financial assets | ||
| – Investments | 4,747.23 | 4,593.93 |
| – Other financial assets | 3,667.13 | 2,531.69 |
| Non-current tax assets (net) | 420.98 | 168.09 |
| Deferred tax assets (net) | 1,523.64 | 1,005.33 |
| Other non-current assets | 839.44 | 1,022.79 |
| Total non-current assets | 59,019.00 | 51,330.81 |
| Current assets | ||
| Inventories | 68,062.26 | 59,267.06 |
| Financial assets | ||
| – Trade receivables | 1,736.14 | 1,825.95 |
| – Cash and cash equivalents | 8,423.55 | 2,491.14 |
| – Other bank balances | 51,406.17 | 18,741.38 |
| – Loans | 5.87 | 4.68 |
| – Other financial assets | 2,720.65 | 1,131.62 |
| Other current assets | 8,275.85 | 4,817.90 |
| Total current assets | 1,40,630.49 | 88,279.73 |
| Total Assets | 1,99,649.49 | 1,39,610.54 |
| EQUITY AND LIABILITIES | ||
| Equity | ||
| Equity share capital | 2,675.77 | 2,448.04 |
| Other equity | 1,45,471.04 | 95,560.43 |
| Total equity | 1,48,146.81 | 98,008.47 |
| Liabilities | ||
| Non-current liabilities | ||
| Financial liabilities | ||
| – Lease liabilities | 25,356.24 | 23,550.25 |
| Provisions | 494.26 | 280.12 |
| Total non-current liabilities | 25,850.50 | 23,830.37 |
| Current liabilities | ||
| Financial liabilities | ||
| – Borrowings | – | 178.19 |
| – Lease liabilities | 5,669.91 | 4,041.27 |
| – Trade payables | ||
| — total outstanding dues of micro enterprises and small enterprises | 321.92 | 256.29 |
| — total outstanding dues of creditors other than micro enterprises and small enterprises | 13,554.75 | 8,626.15 |
| – Other financial liabilities | 2,344.68 | 2,281.68 |
| Other current liabilities | 3,142.14 | 1,921.87 |
| Provisions | 618.78 | 466.25 |
| Total current liabilities | 25,652.18 | 17,771.70 |
| Total liabilities | 51,502.68 | 41,602.07 |
| Total Equity and Liabilities | 1,99,649.49 | 1,39,610.54 |
| Particulars | For the year ended March 31, 2026 | For the year ended March 31, 2025 |
|---|---|---|
| A. OPERATING ACTIVITIES | ||
| Profit before tax | 12,746.95 | 13,155.29 |
| Adjustments to reconcile profit before tax to net cash flows: | ||
| Depreciation and amortization expense | 8,675.38 | 6,291.06 |
| Property, plant and equipment written off | 69.66 | 21.26 |
| Loss on Sale of property, plant & equipment (net) | 36.37 | 54.18 |
| Share of profit in partnership firm | (65.59) | (88.29) |
| Interest expense | 2,595.98 | 1,923.29 |
| Interest income | (3,319.12) | (2,156.26) |
| Provisions/liabilities no longer required written back | (337.63) | (74.71) |
| Unrealized foreign exchange Loss / (gain) | 12.81 | (14.50) |
| Allowance for doubtful debts/(written back) | 87.45 | 2.71 |
| Fair value gain on investments carried at fair value through profit or loss | (12.82) | (42.53) |
| Change in fair value of derivative contracts | (127.86) | 13.43 |
| Gain on termination of lease contracts | (69.80) | (112.28) |
| Allowance for doubtful advances/recoverable | 5.36 | 107.14 |
| Advances / deposits / Bad debts written off | 40.74 | 22.98 |
| Cash generated from operations before working capital changes | 20,337.88 | 19,102.77 |
| Movements in working capital: | ||
| (Increase)/ Decrease in loans | (1.19) | 20.75 |
| (Increase) in other financial assets | (1,119.51) | (510.83) |
| (Increase) in other assets | (3,561.86) | (775.55) |
| (Increase) in inventories | (8,795.20) | (15,297.88) |
| (Increase) in trade receivables | (6.97) | (294.45) |
| Increase in provisions | 398.86 | 37.19 |
| Increase / (Decrease) in trade payables | 5,211.60 | (936.29) |
| Increase / (Decrease) in other financial liabilities | 407.06 | (573.17) |
| Increase in other current liabilities | 1,327.72 | 576.38 |
| Cash flow from operations | 14,198.39 | 1,348.92 |
| Income tax paid (net) | (3,950.73) | (3,423.24) |
| Net cash generated from / (used in) operating activities (A) | 10,247.66 | (2,074.32) |
| B. INVESTING ACTIVITIES | ||
| Acquisition of property, plant and equipment (including intangible assets, capital work in progress, intangible assets under development and capital advances) | (6,120.32) | (7,718.41) |
| Proceeds from sale of property, plant and equipment | 281.91 | 595.04 |
| Payment towards purchase of non current investments | (74.89) | (972.54) |
| Investment in bank deposits (having original maturity of more than three months) | (32,820.01) | 10,261.63 |
| Interest received | 1,518.38 | 2,289.01 |
| Net Cash (used in) / generated from investing activities (B) | (37,214.93) | 4,454.73 |
| C. FINANCING ACTIVITIES | ||
| Proceeds from issue of equity share capital (including premium) | 40,990.51 | – |
| Share issue expenses | (368.49) | – |
| Proceeds from/repayments of other current borrowings | (178.19) | (469.01) |
| Payment of principal portion of lease liabilities | (4,377.91) | (3,389.55) |
| Interest paid on lease liabilities | (3,098.06) | (1,824.71) |
| Interest expense paid | (68.18) | (148.15) |
| Net cash generated from / (used in) financing activities (C) | 32,899.68 | (5,831.42) |
| NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS (A+B+C) | 5,932.41 | (3,451.01) |
| Cash and cash equivalents at the beginning of the year | 2,491.14 | 5,942.15 |
| Cash and cash equivalents at the end of the year | 8,423.55 | 2,491.14 |
| Description | 2026 (Rs. Lakhs) | 2025 (Rs. Lakhs) |
|---|---|---|
| Balance with banks in current accounts | 5,300.92 | 1,017.49 |
| Cheques, drafts on hand | – | 23.71 |
| Cash on hand | 233.21 | 266.55 |
| Credit cards receivable | 401.74 | 283.39 |
| Mutual funds | 2,487.68 | – |
| Fixed deposits with original maturity period of less than three months | – | 900.00 |
| S.No. | Particulars | Quarter ended March 31, 2026 (Unaudited) | Quarter ended December 31, 2025 (Unaudited) | Quarter ended March 31, 2025 (Unaudited) | Year ended March 31, 2026 (Unaudited) | Year ended March 31, 2025 (Audited) |
|---|---|---|---|---|---|---|
| 1 | Revenue from operations | 41,401.02 | 46,851.93 | 31,131.76 | 1,61,224.00 | 1,25,162.71 |
| 2 | Other income | 1,326.38 | 1,550.60 | 603.05 | 4,616.54 | 2,429.98 |
| 3 | Total income (1+2) | 42,727.40 | 48,402.53 | 31,734.81 | 1,65,840.54 | 1,27,592.69 |
| Expenses | ||||||
| Purchase of stock-in-trade | 29,407.24 | 36,524.74 | 21,611.85 | 1,24,804.12 | 1,02,965.61 | |
| Changes in inventories of stock-in-trade | (143.89) | (3,226.97) | (137.44) | (10,281.76) | (15,297.88) | |
| Employee benefits expense | 3,151.08 | 3,385.59 | 2, |