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Ethos Shares Can Rally 48% Says Yes Securities Post Stellar Q1 Results — Check Target Price
Ethos is on a strong growth trajectory and the momentum should sustain for coming fiscal on the back of higher demand for luxury watches, new store opening, onboarding of newer brands: Yes Securities
20 Aug 2025, 10:51 AM IST 
Ethos clocked a robust revenue of Rs 3.46 billion in Q1 FY26, up 27% YoY and 11% QoQ, driven largely by volume growth and outperforming estimates by 6%.(Photo: Company website)
Ethos reported a topline of Rs 3.46 billion, a stellar growth of 27%YoY (2-year CAGR 23%) and 11%QoQ. Topline was better than estimates by 6%. Blended ASP remained steady at ~Rs 213,000; company’s growth was driven by healthy volume growth ~25%+YoY. Same-store sales growth stood at robust 17.6%, implying growth from new stores at ~10%+ on YoY basis, reflecting strong traction across all price segments.
