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Employees: 1,109
Size Ethos (ETHOSLTD.NS) is an India Consumer Discretionary company (Catalog/Specialty Distribution) with a market value of $760M, the 691st largest of 1,058 India companies the cockpit tracks. Shares closed at ₹2,681 on 6 Nov 2026.
Performance Over six months the shares gained 12.3%, against -5.9% for the median peer and 0.0% for the India market (cap-weighted) — 6th highest of 20 in its peer set.
Growth Revenue grew 30.4% over the last twelve months (peer median +15.2%); the operating margin is 7.3% (peer median 8.3%).
Valuation It trades at 45.2× forward earnings against a peer median of 32.7× (4th most expensive of 15).
Price implies For today's price to make sense, revenue must grow about 52% a year for seven years (Req g). Recent delivered growth is +33%, so the hurdle is +19 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 10.8 points below its cost of capital (16.5% WACC).
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹17.3B | ₹16.1B | ₹12.5B | ₹9.99B | ₹7.89B |
| Revenue growth | — | +29% | +25% | +27% | — |
| Gross profit | ₹2.76B | ₹2.45B | ₹2.17B | ₹1.74B | ₹1.50B |
| EBITDA | ₹2.23B | ₹2.27B | ₹2.02B | ₹1.60B | ₹1.24B |
| Net income | ₹1.04B | ₹948M | ₹963M | ₹833M | ₹603M |
| Free cash flow | n/a | ₹386M | -₹780M | ₹29.0M | -₹554M |
| Capital expenditure | n/a | ₹713M | ₹793M | ₹394M | ₹566M |
| Total debt | n/a | ₹3.22B | ₹2.89B | ₹1.45B | ₹1.21B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ETHOSLTD.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.8% | -5.0% | 6th highest of 21 |
| 6-month return | +12.3% | -5.9% | 6th highest of 20 |
| Distance from 52-week high | -17.4% | -27.3% | 3rd highest of 21 |
| Revenue growth (TTM) | +30.4% | +15.2% | 3rd highest of 21 |
| Operating margin | 7.3% | 8.3% | 8th lowest of 21 |
| Forward P/E | 45.2× | 32.7× | 4th most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | 52.2% | 27.1% | most demanding of 15 |
| Growth delivered (Del g) | +33.1% | +21.2% | 5th highest of 15 |
| Hurdle (Req g minus delivered) | +19.2 pp | +7.9 pp | 5th most demanding of 15 |
| ROIC minus cost of capital | -10.8 pp | -4.5 pp | 5th lowest of 21 |
| EV / EBITDA | 32.2× | 19.0× | 3rd most expensive of 18 |
| Net debt / EBITDA | -1.5× | 0.7× | 3rd least indebted of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ethos ETHOSLTD.NS | India | $760M | +12% | +30% | 7% | 45.2× | 52.2% | +33.1% |
| Relaxo Footwears RELAXO.NS | India | $768M | -4% | +2% | 8% | 32.5× | 33.5% | +2.8% |
| Timex Group India TIMEX.NS | India | $750M | +90% | +42% | 15% | 60.5× | 25.7% | +41.7% |
| SML Mahindra SMLMAH.NS | India | $806M | +35% | +22% | 7% | n/a | 23.6% | +36.9% |
| Sapphire Foods India SAPPHIRE.NS | India | $715M | +12% | +13% | 4% | 409.8× | 46.7% | +25.1% |
| Aditya Vision AVL.NS | India | $714M | -6% | +28% | 7% | 40.4× | 33.5% | +29.0% |
| Optiemus Infracom OPTIEMUS.NS | India | $713M | +68% | +21% | 3% | n/a | n/a | n/a |
| Suprajit Engineering SUPRAJIT.NS | India | $701M | +11% | +18% | 7% | 23.8× | n/a | n/a |
| S.J.S. Enterprises SJS.NS | India | $699M | +3% | +26% | 24% | 30.4× | 20.2% | +30.6% |
| Bengal & Assam BENGALASM.NS | India | $688M | -13% | +12% | 13% | n/a | 19.9% | -25.6% |
| MMTC MMTC.NS | India | $847M | -20% | -20% | -6,724% | n/a | n/a | n/a |
| Waterways Leisure Tourism CORDELIA.NS | India | $677M | n/a | -2% | 14% | n/a | n/a | n/a |
| V2 Retail V2RETAIL.NS | India | $672M | -20% | +49% | 9% | 20.2× | n/a | n/a |
| Restaurant Brands Asia RBA.NS | India | $668M | +31% | +16% | 0% | n/a | n/a | n/a |
| Bata India BATAINDIA.NS | India | $868M | -12% | +5% | 9% | 39.2× | 28.9% | +15.5% |
| Cello World CELLO.NS | India | $870M | -14% | +7% | 16% | 21.5× | 28.6% | +17.2% |
| Sharda Cropchem SHARDACROP.NS | India | $655M | -39% | +17% | 14% | 9.3× | -2.6% | +17.1% |
| TTK Prestige TTKPRESTIG.NS | India | $882M | +14% | +16% | 7% | 33.2× | 36.8% | +6.3% |
| Brainbees Solutions FIRSTCRY.NS | India | $883M | -33% | +12% | -2% | 194.4× | 20.1% | +39.8% |
| Cera Sanitaryware CERA.NS | India | $654M | -12% | +15% | 10% | 24.4× | 21.9% | +10.7% |
| Safari Industries (India) SAFARI.NS | India | $651M | -18% | +14% | 9% | 32.9× | 31.3% | +44.2% |