JKB Financial Services Ltd.

As on : 17-Jun-2025

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17-Jun-2025 12:07

Ethos acquires Dubai subsidiary to boost Middle East presence

According to a regulatory filing, Ethos acquired 300 equity shares of AED 1,000 each, amounting to an initial paid-up capital of AED 300,000. The acquisition was completed on 16 June 2025.

Ficus Trading LLC was incorporated on 17 April 2025 in Dubai, UAE, and will be engaged in the trading of watches, clocks, and their spare parts. The company aligns with Ethos' core business and is expected to strengthen its presence in overseas markets. As the entity is newly incorporated, historical turnover figures are not applicable.

The company confirmed that Ficus Trading LLC is a related party, but the promoters or promoter group do not have any direct interest in the subsidiary.

Ethos is one of India's leading retailers of luxury and premium watches, established in 2003.

On a year-on-year basis, the company's consolidated net profit advanced 8.17% to Rs 22.75 crore on a 23.28% increase in revenue to Rs 311.32 crore in Q4 FY25 over Q4 FY24.

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