The watch market in India was valued at ₹13,500 crores in fiscal 2020. It is expected to grow at a compound annual rate of 10.6% and reach ₹22,300 crores by fiscal 2025.
Currently, the share of the organized sector in the overall watch market is around 65%, and the unorganized sector accounts for the remaining 35%. In fiscal 2020, the former represented around ₹8,700 crores of the total market.
Ethos Limited has filed a preliminary prospectus with capital markets regulator SEBI to raise funds through an initial public offering. The IPO consists of a fresh issue of shares aggregating up to ₹400 crores and an offer for sale of up to 1,108,037 shares, according to the draft red herring prospectus. Additionally, the company may consider an issue of shares in a private placement aggregating up to ₹50 crores. If such placement is completed, the size of the fresh issue will be reduced.
Ethos plans to utilize ₹29.8 crores from the net proceeds for repayment or prepayment of loans. The company will use ₹33.27 crores for establishing new stores and ₹1.98 crores for financing the up-gradation of its enterprise resource planning system. The remaining amount will be used for general corporate purposes.
Ethos Limited is the largest luxury/premium watch retailer in the country, which operates through both online and physical retail channels. It has 50 physical stores in 17 cities across the country, operating in a multi-store format.
The Chandigarh-based company has the largest portfolio of premium/luxury watches in India, including 50 luxury brands like Omega, IWC Schaffhausen, Jaeger LeCoultre, Panerai, Bvlgari, H. Moser & Cie, Rado, Longines, Baume & Mercier, Oris SA, Corum, Carl F Bucherer, Tissot, Raymond Weil, Louis Moinet and Balmain.
The company enjoys a healthy market share of 20% in the exclusive luxury segment and 13% in the premium/luxury segment.
Ethos reported a total income of ₹403crores for the year ended March 31, 2021, versus ₹461 crores in the previous year. The company generated a net profit of ₹5.78 crores, against a loss of ₹1.33 crore in the prior year.
Cochin Shipyard Limited (NSE:COCHINSHIP) Q4 FY22 Earnings Concall dated May. 26, 2022 Corporate Participants: Madhu S Nair -- Chairman & Managing Director Jose V J -- Director Finance Analysts: Vastupal Shah
Can you guess the name of the company that was listed during the IPO frenzy in 2020 and is the second largest player in the Indian municipal waste management industry?
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