Ethos Limited announced a significant increase in its financial performance for the second quarter (Q2) and the first half (H1) of FY27. Consolidated revenue for Q2 FY27 grew by 30.1% year-on-year to ₹498.9 crore. For H1 FY27, revenue saw a substantial rise of 31.6% to ₹960.6 crore compared to the previous year. The company also highlighted expansion in its retail network and brand portfolio.
Strong Financial Performance in Q2 and H1 FY27
Ethos Limited has disclosed robust financial results for the quarter and half-year ended September 30, 2026. The company reported a consolidated revenue of ₹498.9 crore for Q2 FY27, marking a 30.1% year-on-year increase from ₹383.4 crore in Q2 FY26. This sustained growth reflects a positive trend in the luxury watch and lifestyle market.
Half-Yearly Highlights
For the first half of FY27 (H1 FY27), Ethos Limited achieved a consolidated revenue of ₹960.6 crore, demonstrating a substantial 31.6% growth compared to ₹729.7 crore in the corresponding period of the previous year. This performance underscores the company’s ability to capture growth opportunities in the Indian luxury market.
Retail Network Expansion
The company continued to expand its retail footprint, growing from 94 boutiques across 30 cities at the end of FY26 to 106 boutiques across 35 cities. During the financial year to date, 12 new boutiques were opened, with the company entering five new markets: Agra, Faridabad, Amritsar, Visakhapatnam, and Calicut. Additionally, Ethos introduced the ‘Hour Studio’ online retail format and is planning its first physical boutique for this segment.
Brand Portfolio Growth
Ethos Lifestyle also saw expansion, with the opening of its third exclusive Rimowa boutique in Bengaluru. The company continues to selectively bring complementary global luxury brands to the Indian market. In Q2 FY27, 21 new brands were added, and in Q1 FY27, 6 new brands were added, enriching the product offering. The company also highlighted the addition of 27 watch brands in total during the period.
Key Financial Metrics
EBITDA for Q2 FY27 increased by 20.0% to ₹52.3 crore, while for H1 FY27, it grew by 31.4% to ₹105.4 crore. PBT saw a 22.1% increase in Q2 FY27 to ₹43.4 crore, and a 32.4% increase in H1 FY27 to ₹85.7 crore. The Average Selling Price (ASP) for watches stood at ₹2.22 Lacs.
Source: BSE
