Ethos Limited (ETHOSLTD) Fair Value & Analysis
Consumer Cyclical · IN · Market cap ₹65.3B
Fair value as of: Aug 2, 2026
From 24 valuation models · updated 11 days ago
Fair value updated Aug 2, 2026, revised from ₹786.39 to ₹779.15 (−0.9%) since Jun 29, 2026. Share price +5.3% over the past month.
Below-average quality, and screening another 72% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (₹973.94). The favourable scenario is already priced in.
- Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts.
Price vs Fair Value (4 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.
How to read this chart
50‑month range ₹746.50 – ₹3,442 · fair‑value band ₹584.36 – ₹973.94 · the ₹2,790 price screens above the ₹779.15 fair value. Dashed = 300-day average. As of Aug 2, 2026.
Analysis
Ethos Limited (ETHOSLTD) currently trades at ₹2,790, while our model-based Fair Value estimate is ₹779.15, implying the stock looks roughly 72.1% overvalued today. The Quality Score stands at 36/100 (below-average quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, Ethos Limited generated revenue of ₹16.1B at a net margin of 5.9%. Revenue grew 33.0% year over year. It earns a return on equity of 7.3%. The balance sheet holds a net cash position of ₹3.4B. Fundamentals as of Aug 2, 2026
Our scenario range runs from ₹584.36 (bear case) to ₹973.94 (bull case); at ₹2,790, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 14% below its 52-week high and 45% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -41% fair-value upside, at -72%, ETHOSLTD screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 24 models by family
Widest divergence: DCF Models (₹1,321) versus Asset-Based (₹372.57). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 40 · Market factors (momentum, volatility) 58
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Ethos Limited operates a chain of luxury watch boutiques in India. The company offers luxury and premium watches; pre-owned watches; jewellery and jewellery boxes; watch straps, stands, and winders; clocks; collector boxes; and luggage products.
Full company description
Ethos Limited operates a chain of luxury watch boutiques in India. The company offers luxury and premium watches; pre-owned watches; jewellery and jewellery boxes; watch straps, stands, and winders; clocks; collector boxes; and luggage products. It also provides product repair and services, including movement overhauling, battery replacement, ultrasonic cleaning, polishing, performance tests, and watch parts and strap replacement. The company sells its products through online channels. Ethos Limited was founded in 2003 and is headquartered in Gurugram, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Ethos Limited reported revenue of ₹16.1B in FY2026 versus ₹5.8B in FY2022, a compound +29.3%/yr. Reported net income was ₹948M in FY2026, compounding +41.9%/yr from FY2022.
ETHOSLTD screens 72% overvalued. Compare with Compagnie Financière Richemont SA →
Peer Group
Luxury Goods · 132 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Luxury Goods median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Luxury Goods stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Compagnie Financière Richemont SA CFR | CHF 197.40 | CHF 117.30 | -41% |
| Christian Dior SE DIO | €455.40 | €502.30 | +10% |
| Kering SA KER | €248.50 | €60.61 | -76% |
| Tapestry, Inc TPR | $140.73 | $19.95 | -86% |
| Chow Tai Fook Jewellery Group 1929 | HK$11.82 | HK$12.28 | +4% |
| The Swatch Group UHRN | CHF 40.95 | CHF 21.48 | -48% |
| Prada S.p.A 1913 | HK$43.26 | HK$64.05 | +48% |
| Pandora A/S PNDORA | kr 779.40 | kr 1,424 | +83% |
| Brunello Cucinelli S.p.A BC | €89.22 | €34.90 | -61% |
| Kalyan Jewellers India Limited KALYANKJIL | ₹546.60 | ₹238.57 | -56% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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