āagmanLoginNot investment advice. Data and computed figures, for information only.
Ethos Ltd
₹2,611.40
+₹38.00 (+1.48%)
NSE · 16 Oct 2026, close
Market Cap
₹6,831 Cr
CMP
₹2,611.40
52-wk High / Low
₹3,246 / 1,919
P/E
64.7
P/B
4.6
Book Value
₹556.0
Div Yield
0.00%
ROCE
10.0%
ROE
7.7%
Face Value
₹10
D/E
0.22
Price−6.7% over 1Y
āagman read
Computed by āagmanPiotroski F-Score
2
/ 9
2 of 9 F-score tests passed
Graham Number
₹666
√(22.5 × EPS × book value per share)
ROIC
5.1%
vs 12.3% sector median
Cash flow to profit
0.94
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−2
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
7.7%
ROE × earnings retention ratio
ROE stability
1.3
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII +0.44DII +0.32
Latest quarter vs the previous one
Cash-accrual divergence
0.3%
of assets
Low = accruals track cash flow
Strengths
+Price trades above its 200-day moving average (1.0x)
+FII holding rose by 4.0pp over the last year
Watch-outs
−Latest ROCE of 10% trails the sector median of 19%
−Promoter holding fell by 14.1pp over the last year
−Piotroski F-Score of 2/9 is in the weak band (≤3)
Peer comparison
| Name | P/E | Mar Cap ₹ Cr | ROCE % | ROE % |
|---|
Quarterly results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 230 | 235 | 281 | 253 | 273 | 297 | 370 | 311 | 346 | 383 | 469 | 414 | 462 |
| Expenses | 196 | 198 | 237 | 217 | 230 | 255 | 313 | 265 | 301 | 336 | 408 | 364 | 402 |
| Operating Profit | 34 | 37 | 45 | 36 | 43 | 42 | 57 | 46 | 45 | 48 | 61 | 50 | 60 |
| OPM % | 14.8% | 15.7% | 16.0% | 14.2% | 15.8% | 14.1% | 15.4% | 14.8% | 13.0% | 12.5% | 13.0% | 12.1% | 13.0% |
| Other Income | 5 | 4 | 6 | 9 | 6 | 6 | 6 | 6 | 6 | 12 | 14 | 13 | 13 |
| Interest | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 5 | 6 | 7 | 8 | 7 | 8 |
| Depreciation | 11 | 13 | 13 | 13 | 14 | 15 | 17 | 17 | 19 | 21 | 25 | 25 | 26 |
| Profit before tax | 24 | 25 | 34 | 28 | 31 | 29 | 41 | 30 | 26 | 32 | 42 | 31 | 39 |
| Net Profit | 18 | 19 | 26 | 21 | 23 | 21 | 29 | 23 | 19 | 24 | 31 | 23 | 29 |
| EPS (₹) | 7.12 | 7.29 | 9.52 | 7.85 | 8.51 | 7.93 | 11.00 | 8.49 | 7.11 | 8.89 | 11.37 | 8.22 | 10.51 |
Profit & Loss
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 444 | 458 | 387 | 577 | 789 | 999 | 1,252 | 1,612 | 1,728 |
| Expenses | 407 | 402 | 344 | 505 | 668 | 841 | 1,055 | 1,397 | 1,510 |
| Operating Profit | 36 | 56 | 43 | 72 | 120 | 158 | 197 | 215 | 218 |
| OPM % | 8.1% | 12.2% | 11.1% | 12.5% | 15.2% | 15.8% | 15.7% | 13.3% | 12.6% |
| Other Income | 2 | 2 | 17 | 13 | 15 | 24 | 24 | 44 | 52 |
| Interest | 11 | 24 | 20 | 21 | 20 | 22 | 27 | 38 | 30 |
| Depreciation | 5 | 33 | 33 | 32 | 35 | 49 | 63 | 89 | 97 |
| Profit before tax | 22 | 2 | 7 | 32 | 81 | 111 | 130 | 131 | 144 |
| Net Profit | 13 | −1 | 5 | 23 | 60 | 83 | 96 | 96 | 106 |
| EPS (₹) | 7.23 | −0.67 | 2.39 | 11.19 | 23.65 | 31.08 | 35.93 | 35.42 | 38.99 |
Balance Sheet
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 17 | 18 | 18 | 19 | 23 | 24 | 24 | 27 | — |
| Reserves | 117 | 132 | 139 | 213 | 608 | 859 | 958 | 1,461 | — |
| Borrowings | 69 | 174 | 140 | 161 | 121 | 145 | 289 | 322 | — |
| Other Liabilities | 98 | 98 | 96 | 111 | 127 | 142 | 139 | 387 | — |
| Total Liabilities | 301 | 422 | 394 | 504 | 880 | 1,171 | 1,410 | 2,197 | — |
| Fixed Assets | 22 | 125 | 113 | 130 | 197 | 230 | 401 | 494 | — |
| CWIP | 5 | 1 | 4 | 0 | 4 | 9 | 31 | 11 | — |
| Investments | 0 | 1 | 1 | 2 | 2 | 25 | 36 | 38 | — |
| Other Assets | 275 | 296 | 276 | 373 | 677 | 907 | 942 | 1,654 | — |
| Total Assets | 301 | 422 | 394 | 504 | 880 | 1,171 | 1,410 | 2,197 | — |
Cash Flows
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | −22 | 36 | 63 | 17 | −2 | 31 | −20 | 90 |
| Cash from Investing Activity | −13 | −15 | −10 | −24 | −256 | −123 | 47 | −476 |
| Cash from Financing Activity | 35 | −20 | −45 | 26 | 249 | 125 | −58 | 502 |
| Net Cash Flow | 0 | 2 | 8 | 19 | −10 | 33 | −32 | 116 |
Ratios
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| ROCE % | — | 10.0 | 9.0 | 15.0 | 18.0 | 15.0 | 14.0 | 10.0 |
| ROE % | — | — | — | — | — | — | — | 7.7 |
| EPS (₹) | 7.23 | −0.67 | 2.39 | 11.19 | 23.65 | 31.08 | 35.93 | 35.42 |
| Book Value (₹) | — | — | — | — | — | — | — | 556.0 |
| Face Value (₹) | — | — | — | — | — | — | — | 10 |
| P/E | — | — | — | — | — | — | — | 64.7 |
| Div Yield % | — | — | — | — | — | — | — | 0.00 |
| NPM % | 2.9 | −0.2 | 1.2 | 3.9 | 7.5 | 8.1 | 7.5 | 5.8 |
| OPM % | 8.0 | 12.0 | 11.0 | 12.0 | 15.0 | 16.0 | 16.0 | 13.0 |
| D/E | 0.51 | 1.16 | 0.89 | 0.69 | 0.19 | 0.16 | 0.29 | 0.22 |
| P/B | — | — | — | — | — | — | — | 4.6 |
Growth
Compounded sales growth
5 years+33.0%
3 years+27.0%
TTM+30.0%
Compounded profit growth
5 years+82.0%
3 years+16.0%
TTM+14.0%
Stock price CAGR
3 years+15.0%
Last year+0.0%
Return on equity
5 years10.0%
3 years9.0%
Last year8.0%
Documents
Announcements
Closure of Trading WindowAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationShareholder Meeting / Postal Ballot-Scrutinizer''s ReportShareholder Meeting / Postal Ballot-Outcome of AGMAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationCorporate actions
12 Jun 2025RIGHTSRights 4:43@ Premium Rs 1790/-—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman