Q4 2025 Ethos Ltd Earnings Call Transcript
Key Points
- Revenue increased by 25.3% year-on-year to INR 1,252 crores.
- EBITDA grew by 23.5% year-on-year to INR 161 crores.
- Successful inauguration of 14 new boutiques, reaching a total of 73 across 26 cities.
- Launch of India's largest horological project, City of Time Gurgaon, featuring exclusive brand boutiques.
- Strong growth in the pre-owned segment, with over 30% year-on-year increase.
- Several boutique openings were delayed due to unforeseen challenges, including GRAP IV restrictions in Delhi NCR.
- Inventory increased significantly from INR 440 crores to INR 593 crores due to strategic expansion.
- Working capital has been on a declining trend, raising concerns about financial strategy.
- Fluctuations in the CHF INR exchange rate have impacted financial stability.
- The company is still in the exploratory phase for international expansion, indicating potential uncertainty.
Ladies and gentlemen, good day, and welcome to Ethos Limited Q4 and FY '25 Earnings Conference Call. [Operator Instructions] This conference call may contain forward-looking statements about the company, which are based on beliefs, opinions and expectations of the company as on the date of this call. These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. Please note that this conference is being recorded.
I now hand the conference over to Mr. Pranav Saboo, MD and CEO of Ethos Limited. Thank you, and over to you, sir.
Good afternoon, everyone. Thank you for joining us on the Ethos Limited FY '25 Earnings Conference Call. I'm accompanied by our CFO, Mr. Munish Gupta; Executive Director and Chief Operating Officer, Mr. Mukul Khanna; and SGA, our Investor Relations Advisers. I hope you've had a chance to review our financial results and the Investor Presentation published last week on the company's website and filed with the stock
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