Rectitude Holdings Ltd Ordinary Shares (RECT) 10-Year Financial Performance & Capital Metrics

RECT • • Industrial / General

IndustrialsIndustrial DistributionSafety & Instrumentation DistributionSafety Equipment Distributors

AboutRectitude Holdings Ltd. offers a comprehensive range of safety equipment, including personal protective clothing, safety gloves, step platform ladders, safety footwear, travel restraint and personal fall arrest equipment, portable fire extinguishers, firefighting equipment, fire-related safety products, traffic products, and industrial hardware tools. The company markets its products under various brands such as D&D, SkyHawk, Super Sun, STRIKERS, Osprey, HORNET, and DADE. Show more

Revenue $44M +5.9%
EBITDA $4M -27.2%
Net Income $2M -33.3%
EPS (Diluted) 0.16 -40.7%
Gross Margin 33.65% -5.4%
EBITDA Margin 9.45% -31.3%
Operating Margin 5.11% -49.3%
Net Margin 5.11% -37.0%
ROE 13.65% -70.8%
ROIC 8.33% -70.0%
Debt/Equity 0.35 -68.5%
Interest Coverage 11.15 -42.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 29.2%
✓Trading at only 1.0x book value
✓Efficient asset utilization: 1.0x turnover

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 6 (bottom 6%)
✗Low quality earnings: Net income not backed by cash flow
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y13.68%

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y2.52%

TTM-

EPS CAGR

10Y-

5Y-

3Y-2%

TTM-

ROCE

10Y Avg18.22%

5Y Avg18.22%

3Y Avg18.76%

Latest8.43%

Peer Comparison

Safety Equipment Distributors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
RECTRectitude Holdings Ltd Ordinary Shares	25.38M	1.75	10.94	5.91%	6.49%	20.13%		0.35

Profit & Loss

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales/Revenue+	29.81M	20.61M	41.35M	43.8M
Revenue Growth %	-	-0.31%	1.01%	0.06%
Cost of Goods Sold+	21.07M	14.48M	26.65M	29.06M
COGS % of Revenue	0.71%	0.7%	0.64%	0.66%
Gross Profit+	8.74M	6.12M	14.71M	14.74M
Gross Margin %	0.29%	0.3%	0.36%	0.34%
Gross Profit Growth %	-	-0.3%	1.4%	0%
Operating Expenses+	6.12M	3.51M	10.54M	12.5M
OpEx % of Revenue	0.21%	0.17%	0.25%	0.29%
Selling, General & Admin	5M	6.16M	9.45M	10.9M
SG&A % of Revenue	0.17%	0.3%	0.23%	0.25%
Research & Development	89.07K	45.81K	76.39K	156.95K
R&D % of Revenue	0%	0%	0%	0%
Other Operating Expenses	11.67K	0	1.02M	1.44M
Operating Income+	2.5M	2.62M	4.16M	2.24M
Operating Margin %	0.08%	0.13%	0.1%	0.05%
Operating Income Growth %	-	0.05%	0.59%	-0.46%
EBITDA+	3.59M	3.14M	5.69M	4.14M
EBITDA Margin %	0.12%	0.15%	0.14%	0.09%
EBITDA Growth %	-	-0.12%	0.81%	-0.27%
D&A (Non-Cash Add-back)	1.08M	522.61K	1.52M	1.9M
EBIT	2.5M	4.78M	4.36M	2.66M
Net Interest Income+	-119.18K	-142.5K	-214.46K	50.96K
Interest Income	0	0	0	300.13K
Interest Expense	119.18K	142.5K	214.46K	200.64K
Other Income/Expense	11.31K	2.18M	-16.02K	220.59K
Pretax Income+	2.52M	2.63M	4.15M	2.46M
Pretax Margin %	0.08%	0.13%	0.1%	0.06%
Income Tax+	439.01K	476.42K	792.21K	219.95K
Effective Tax Rate %	0.83%	0.82%	0.81%	0.91%
Net Income+	2.08M	2.15M	3.36M	2.24M
Net Margin %	0.07%	0.1%	0.08%	0.05%
Net Income Growth %	-	0.03%	0.56%	-0.33%
Net Income (Continuing)	2.08M	3.93M	3.36M	2.24M
Discontinued Operations	0	0	0	0
Minority Interest	0	0	0	0
EPS (Diluted)+	0.17	0.15	0.27	0.16
EPS Growth %	-	-0.12%	0.8%	-0.41%
EPS (Basic)	0.17	0.15	0.27	0.16
Diluted Shares Outstanding	12.5M	14.5M	12.5M	13.61M
Basic Shares Outstanding	12.5M	14.5M	12.5M	13.96M
Dividend Payout Ratio	0.46%	0.53%	0.6%	-

Balance Sheet

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Current Assets+	16.78M	11.19M	23.64M	27.45M
Cash & Short-Term Investments	1.14M	1.38M	3.47M	6.65M
Cash Only	1.14M	1.38M	3.47M	6.65M
Short-Term Investments	0	0	0	0
Accounts Receivable	9.39M	10.92M	12.01M	12.99M
Days Sales Outstanding	114.95	193.4	105.96	108.28
Inventory	5.62M	3.27M	6.25M	7.58M
Days Inventory Outstanding	97.37	82.44	85.61	95.19
Other Current Assets	377.78K	0	1.56M	0
Total Non-Current Assets+	8.47M	5.04M	10.57M	16.24M
Property, Plant & Equipment	8.25M	4.92M	10.33M	10.82M
Fixed Asset Turnover	3.61x	4.19x	4.00x	4.05x
Goodwill	0	0	0	0
Intangible Assets	0	0	0	0
Long-Term Investments	220.25K	125.48K	231.29K	236.77K
Other Non-Current Assets	0	0	0	5.18M
Total Assets+	25.25M	16.24M	34.21M	43.69M
Asset Turnover	1.18x	1.27x	1.21x	1.00x
Asset Growth %	-	-0.36%	1.11%	0.28%
Total Current Liabilities+	10.18M	6.57M	12.68M	12.13M
Accounts Payable	6.08M	6.67M	6.44M	7.57M
Days Payables Outstanding	105.26	168.12	88.23	95.11
Short-Term Debt	1.17M	568.03K	598.85K	400.02K
Deferred Revenue (Current)	0	1000K	0	0
Other Current Liabilities	1.75M	-1.99M	2.07M	454K
Current Ratio	1.65x	1.70x	1.86x	2.26x
Quick Ratio	1.10x	1.21x	1.37x	1.64x
Cash Conversion Cycle	107.06	107.72	103.34	108.36
Total Non-Current Liabilities+	5.62M	3.32M	6.94M	6.79M
Long-Term Debt	3.79M	3.42M	3.07M	2.83M
Capital Lease Obligations	1.83M	2.45M	3.87M	3.96M
Deferred Tax Liabilities	1.45K	818	0	1.45K
Other Non-Current Liabilities	0	-2.55M	1.45K	0
Total Liabilities	15.8M	9.88M	19.62M	18.92M
Total Debt+	7.53M	4.03M	8.94M	8.69M
Net Debt	6.39M	2.65M	5.48M	2.04M
Debt / Equity	0.80x	0.63x	1.12x	0.35x
Debt / EBITDA	2.10x	1.28x	1.57x	2.10x
Net Debt / EBITDA	1.78x	0.85x	0.96x	0.49x
Interest Coverage	21.02x	18.37x	19.41x	11.15x
Total Equity+	9.45M	6.35M	8.02M	24.77M
Equity Growth %	-	-0.33%	0.26%	2.09%
Book Value per Share	0.76	0.44	0.64	1.82
Total Shareholders' Equity	9.45M	6.35M	8.02M	24.77M
Common Stock	1.71K	940	1.71K	1.98K
Retained Earnings	6.07M	4.44M	11.21M	13.44M
Treasury Stock	0	0	0	0
Accumulated OCI	0	0	0	-61.04K
Minority Interest	0	0	0	0

Cash Flow

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	1.32M	2M	4.2M	200.13K
Operating CF Margin %	0.04%	0.1%	0.1%	0%
Operating CF Growth %	-	0.51%	1.1%	-0.95%
Net Income	2.08M	2.15M	3.36M	2.24M
Depreciation & Amortization	1.08M	522.61K	1.52M	1.9M
Stock-Based Compensation	0	0	0	0
Deferred Taxes	0	0	0	0
Other Non-Cash Items	-38.68K	2.3M	103.32K	321.19K
Working Capital Changes	-2.31M	-1.04M	-781.13K	-4.26M
Change in Receivables	-1.85M	-984.87K	-476.65K	-1.35M
Change in Inventory	-658.44K	-228.91K	-289.38K	-1.33M
Change in Payables	915.25K	325.51K	-126.78K	1.13M
Cash from Investing+	-188.66K	-7.21K	-230.35K	-5.8M
Capital Expenditures	-189.75K	-7.42K	-235.35K	-615.81K
CapEx % of Revenue	0.01%	0%	0.01%	0.01%
Acquisitions	-	-	-	-
Investments	-	-	-	-
Other Investing	1.09K	386	5K	-5.18M
Cash from Financing+	-1M	-1.28M	-2.93M	8.77M
Debt Issued (Net)	-	-	-	-
Equity Issued (Net)	-	-	-	-
Dividends Paid	-950K	-629.52K	-2M	0
Share Repurchases	-	-	-	-
Other Financing	503.94K	-359.36K	-730.03K	0
Net Change in Cash	-	-	-	-
Free Cash Flow+	1.13M	1.99M	3.96M	-415.68K
FCF Margin %	0.04%	0.1%	0.1%	-0.01%
FCF Growth %	-	0.75%	0.99%	-1.1%
FCF per Share	0.09	0.14	0.32	-0.03
FCF Conversion (FCF/Net Income)	0.64x	0.93x	1.25x	0.09x
Interest Paid	119.18K	142.5K	214.46K	200.64K
Taxes Paid	455.66K	316.4K	660.47K	943.07K

Key Ratios

Metric	2022	2023	2024	2025
Return on Equity (ROE)	21.97%	27.2%	46.69%	13.65%
Return on Invested Capital (ROIC)	11.86%	15.8%	27.75%	8.33%
Gross Margin	29.33%	29.72%	35.57%	33.65%
Net Margin	6.97%	10.43%	8.11%	5.11%
Debt / Equity	0.80x	0.63x	1.12x	0.35x
Interest Coverage	21.02x	18.37x	19.41x	11.15x
FCF Conversion	0.64x	0.93x	1.25x	0.09x
Revenue Growth	-	-30.88%	100.68%	5.91%

Frequently Asked Questions

Valuation & Price

Rectitude Holdings Ltd Ordinary Shares (RECT) has a price-to-earnings (P/E) ratio of 10.9x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Rectitude Holdings Ltd Ordinary Shares (RECT) reported $72.3M in revenue for fiscal year 2025. This represents a 142% increase from $29.8M in 2022.

Rectitude Holdings Ltd Ordinary Shares (RECT) grew revenue by 5.9% over the past year. This is steady growth.

Yes, Rectitude Holdings Ltd Ordinary Shares (RECT) is profitable, generating $4.7M in net income for fiscal year 2025 (5.1% net margin).

Dividend & Returns

Rectitude Holdings Ltd Ordinary Shares (RECT) has a return on equity (ROE) of 13.7%. This is reasonable for most industries.

Rectitude Holdings Ltd Ordinary Shares (RECT) generated $2.4M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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