Rectitude Holdings Ltd.
RECT · Cutlery, Handtools & General Hardware · EDGAR filings ↗
Grade
C62Small Singapore safety-equipment distributor with stable but unremarkable mid-pack profitability and a sharp profit decline.
Strengths
- Revenue grew 5.9% (88.9th pct) with solid liquidity (quick ratio 66.7th pct) and low leverage (D/E 25th pct)
- Profitable with net margin at 55.6th pct and ROE ~9% (66.7th pct), no going-concern issues
Risks
- Net profit fell 33% in FY2025 (22nd pct) on margin compression; weak operating cash conversion (OCF margin 11th pct)
- Sub-scale micro-cap with ~95% revenue concentration in Singapore and controlled-company/foreign-issuer governance limitations
Notable findings
- Cash burnNegative free cash flow (-0.3M)
- Customer concentration~65% of revenue from one customer/distributor — 9% and 65
Key metrics
Gross margin
33.7%
Operating margin
5.1%
Net margin
5.1%
Return on equity
9.0%
Return on assets
5.1%
ROIC
6.3%
Revenue growth (QoQ)
6.3%
Net-income growth
-33.1%
Debt / equity
0.1×
Current ratio
2.3×
Free cash flow
-$309K
EBITDA
$2M
Tangible book value
$18M
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2025-07-31 | 2025-03-31 | 0001213900-25-070030 ↗ |
| 20-F | 2024-07-26 | 2024-03-31 | 0001013762-24-001694 ↗ |