Ethos Limited held its Board of Directors meeting on August 3, 2026, which commenced at 12:00 PM and concluded at 13:45 PM. The Board considered and approved the following matters:

1. Financial Results Approval

The Board approved the unaudited financial results (standalone and consolidated) for the quarter ended June 30, 2026. The results were reviewed by the Audit Committee and approved by the Board, and have been reviewed by the statutory auditors, Walker Chandiok & Co LLP.

2. Standalone Financial Performance (Rupees in lakhs)

  • Revenue from operations: ₹45,051.93 (Q1 FY27) vs ₹40,292.22 (Q1 FY26) - 11.8% increase
  • Total income: ₹46,124.04 (Q1 FY27) vs ₹41,405.37 (Q1 FY26)
  • Profit before tax: ₹3,760.88 (Q1 FY27) vs ₹2,789.74 (Q1 FY26) - 34.8% increase
  • Net profit: ₹2,799.24 (Q1 FY27) vs ₹2,078.24 (Q1 FY26) - 34.7% increase
  • Basic and diluted EPS: ₹10.46 (Q1 FY27) vs ₹7.73 (Q1 FY26)
  • Paid-up equity share capital: ₹2,675.77 lakhs (2,67,57,693 equity shares of ₹10 each)

3. Consolidated Financial Performance (Rupees in lakhs)

  • Revenue from operations: ₹46,170.52 (Q1 FY27) vs ₹34,631.80 (Q1 FY26) - 33.3% increase
  • Total income: ₹47,504.25 (Q1 FY27) vs ₹35,215.40 (Q1 FY26)
  • Net profit: ₹2,866.37 (Q1 FY27) vs ₹1,901.91 (Q1 FY26) - 50.7% increase
  • Profit attributable to owners: ₹2,812.99 (Q1 FY27)
  • Basic and diluted EPS: ₹10.51 (Q1 FY27) vs ₹7.77 (Q1 FY26)

4. Director Resignation

Mr. Dilpreet Singh (DIN: 03042448) tendered his resignation as Independent Director effective from the conclusion of the Board Meeting held on August 3, 2026. The reason cited was increasing professional commitments and other engagements. In his resignation letter, he confirmed there are no material reasons for resignation other than those stated and no concerns or disagreements with the Board or management.

5. Rights Issue Utilization

The company completed its Rights Issue of 22,77,250 equity shares at ₹1,800 per share (including securities premium of ₹1,790 per share) aggregating to ₹40,990.50 lakhs during Q2 FY26.

  • Paid-up capital increased from ₹2,448.04 lakhs (2,44,80,443 shares) to ₹2,675.77 lakhs (2,67,57,693 shares)
  • Total offer expenses: ₹379.02 lakhs (excluding taxes)
  • Utilization as of June 30, 2026:
  • Working capital: ₹10,610.48 lakhs utilized out of ₹31,000.00 lakhs proposed
  • General corporate purposes: ₹0 utilized out of ₹9,611.48 lakhs proposed
  • Issue expenses: ₹368.49 lakhs utilized out of ₹379.02 lakhs
  • Total utilized: ₹10,978.97 lakhs
  • Unutilized proceeds: ₹30,011.53 lakhs temporarily invested in bank deposits

6. Subsidiary Shareholding Changes

Ethos Lifestyle Private Limited (formerly RF Brands Private Limited), a subsidiary, underwent shareholding changes:

  • July 16, 2025: Preferential issue to promoter group individuals diluted company's holding from 100% to 95%
  • August 13, 2025: Preferential issue to external investors raised ₹17,950 lakhs, diluting holding to 75.05%
  • April 30, 2026: Company acquired 1,89,480 shares from Mr. Pranav Shankar Saboo for ₹2,026 lakhs (₹1,069 per share), increasing holding to 77.42%

7. Regulatory Compliance

The disclosure is made under Regulation 30 and 33 of SEBI Listing Regulations. The financial results will be published in newspapers as required. The limited review was conducted by Walker Chandiok & Co LLP (Firm Registration No: 001076N/N500013) who expressed no material modifications.

8. Entity Structure

The consolidated results include subsidiaries (Cognition Digital LLP, Ethos Lifestyle Private Limited, Ficus Trading LLC, Micron Watch Services Private Limited), joint ventures (Pasadena Retail Private Limited), and associates (Silvercity Brands AG, Favre Leuba GmBH).