Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Ethos Ltd
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 208 | 230 | 235 | 281 | 253 | 273 | 297 | 370 | 311 | 346 | 383 | 469 | 414 |
| Expenses + | 182 | 196 | 198 | 237 | 217 | 230 | 255 | 313 | 265 | 301 | 336 | 408 | 364 |
| Operating Profit | 26 | 34 | 37 | 45 | 36 | 43 | 42 | 57 | 46 | 45 | 48 | 61 | 50 |
| OPM % | 12% | 15% | 16% | 16% | 14% | 16% | 14% | 15% | 15% | 13% | 12% | 13% | 12% |
| Other Income + | 5 | 5 | 4 | 6 | 9 | 6 | 6 | 6 | 6 | 6 | 12 | 14 | 13 |
| Interest | 3 | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 5 | 6 | 7 | 8 | 7 |
| Depreciation | 9 | 11 | 13 | 13 | 13 | 14 | 15 | 17 | 17 | 19 | 21 | 25 | 25 |
| Profit before tax | 18 | 24 | 25 | 34 | 28 | 31 | 29 | 41 | 30 | 26 | 32 | 42 | 31 |
| Tax % | 25% | 25% | 25% | 26% | 24% | 26% | 26% | 27% | 25% | 27% | 25% | 27% | 26% |
| Net Profit + | 13 | 18 | 19 | 26 | 21 | 23 | 21 | 29 | 23 | 19 | 24 | 31 | 23 |
| EPS in Rs | 5.21 | 7.12 | 7.29 | 9.52 | 7.85 | 8.51 | 7.93 | 11.00 | 8.49 | 7.11 | 8.89 | 11.37 | 8.22 |
Financials of Ethos Ltd
Annual income statement trend
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 444 | 458 | 387 | 577 | 789 | 999 | 1,252 | 1,612 |
| Expenses + | 407 | 402 | 344 | 505 | 668 | 841 | 1,055 | 1,409 |
| Operating Profit | 36 | 56 | 43 | 72 | 120 | 158 | 197 | 203 |
| OPM % | 8% | 12% | 11% | 12% | 15% | 16% | 16% | 13% |
| Other Income + | 2 | 2 | 17 | 13 | 15 | 24 | 24 | 44 |
| Interest | 11 | 24 | 20 | 21 | 20 | 22 | 27 | 27 |
| Depreciation | 5 | 33 | 33 | 32 | 35 | 49 | 63 | 89 |
| Profit before tax | 22 | 2 | 7 | 32 | 81 | 111 | 130 | 131 |
| Tax % | 39% | 168% | 29% | 26% | 25% | 25% | 26% | 27% |
| Net Profit + | 13 | -1 | 5 | 23 | 60 | 83 | 96 | 96 |
| EPS in Rs | 7.23 | -0.67 | 2.39 | 11.19 | 23.65 | 31.08 | 35.93 | 35.42 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Ethos Ltd
Capital structure and asset base
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 |
Financials of Ethos Ltd
Operating, investing and financing cash movement
| 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 |
| Free Cash Flow | -35 | 23 | 54 | -7 | -58 | -1 | -94 | 19 |
| CFO/OP | -40% | 76% | 155% | 37% | 15% | 37% | 7% | 65% |
Financials of Ethos Ltd
Working capital efficiency and return ratios
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 7 | 7 | 12 | 3 | 3 | 6 | 5 | 4 |
| Inventory Days | 238 | 242 | 256 | 222 | 228 | 230 | 247 | 222 |
| Days Payable | 79 | 80 | 93 | 74 | 65 | 50 | 37 | 45 |
| Cash Conversion Cycle | 166 | 170 | 174 | 151 | 166 | 185 | 215 | 180 |
| Working Capital Days | 77 | 72 | 83 | 84 | 121 | 127 | 143 | 127 |
| ROCE % | 10% | 9% | 15% | 18% | 15% | 14% | 10% |