Rectitude Holdings Ltd Announces Full-Year Financial Results for the Fiscal Year Ended March 31, 2026
Rhea-AI Summary
Rectitude Holdings (NASDAQ:RECT) reported full-year results for the fiscal year ended March 31, 2026, highlighted by total revenue of $39.74 million, up 21.99% from $32.57 million in 2025. Growth was driven by key supply agreements for its All-in-one Intelligent Micro-grid System (AIMS), expanded demand across product lines, a new branch opening, and collaborative partnerships.
Gross profit rose to $12.78 million, though gross margin narrowed to 32.17% from 33.65% due to competitive pricing pressures. Net income increased to $2.78 million, up 67.25%, with diluted EPS at $0.19 versus $0.12 a year earlier. EBITDA reached $5.47 million, up from $3.39 million. Selling and marketing expenses increased 15.69% to $4.13 million, while general and administrative expenses declined 4.72% to $5.35 million and research and development expenses fell to nil. As of March 31, 2026, total assets were S$48.62 million and total shareholders’ equity was S$28.05 million.
Positive
- Revenue $39.74 million, up 21.99% year over year
- Net income $2.78 million, up 67.25% from 2025
- EPS increased to $0.19 from $0.12
- EBITDA $5.47 million versus $3.39 million prior year
- G&A expenses down 4.72% to $5.35 million
- Total equity increased to S$28.05 million from S$24.77 million
Negative
- Gross margin declined to 32.17% from 33.65%
- Selling and marketing expenses rose 15.69% to $4.13 million
- R&D spending reduced to nil from $116,733
- Cost of revenue increased 24.72% to $26.96 million
News Explained
The completed report shows 14.5 million year-end shares, $4.69 million cash, and $15.95 million liabilities at March 31, 2026.
Rectitude has completed its fiscal-year reporting, adding period-end balance-sheet information to the results already described: cash and total liabilities were
Dilution means that issuing additional shares increases the total share count and reduces an existing holder’s percentage ownership; the release lists
The same balance sheet reports total shareholders’ equity of
The specific follow-up is the company’s Fiscal 2027 reporting, which can test whether its stated expectation of continued double-digit growth for AIMS appears in subsequent results.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jul 31 | FY2025 earnings | Negative | -0.2% | Revenue grew, but net income, margins, and EBITDA declined year over year. |
| Mar 27 | FY2025 first-half earnings | Negative | +0.5% | Revenue increased while net income, margins, and adjusted EBITDA declined. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-specific earnings history was mixed, with one negative reaction aligned with weaker results and one positive reaction diverging from first-half profit declines.
Key Terms
ebitda financial
basis points financial
foreign currency translation adjustments financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
SINGAPORE, July 30, 2026 (GLOBE NEWSWIRE) -- Rectitude Holdings Ltd (the “Company” or “Rectitude”), a Singapore-based provider of safety equipment and related industrial-grade hardware products, today announced its financial results for the fiscal year ended March 31, 2026.
Fiscal Year ended March 31, 2026, Full Year Highlights (amounts in US$):
- Revenues for the fiscal year ended March 31, 2026, increased
21.99% . - Gross profit margin decreased to
32.17% of revenue, down 148 basis points. - Selling and marketing expenses increased
$560,001 . - Research and development expenses decreased to nil.
- General and administrative expenses decreased
$265,065 . - Net income was
$2.78 million , or$0.19 per diluted share, for the fiscal ended March 31, 2026, compared to net income of$1.66 million , or$0.12 per diluted share, for the fiscal year ended March 31, 2025. - EBITDA for the fiscal year ended March 31, 2026, was
$5.47 million , an increase of$2.08 million from$3.39 million in the prior year period.
* Note on Convenience Translations and Foreign Currency Movements: Financial metrics for the fiscal years ended March 31, 2025 and 2026, were translated from Singapore Dollars (S$) into U.S. Dollars ($) solely for the reader's convenience. Income statement items were translated at the average exchange rates of US
“Fiscal 2026 was a historic year of growth and operational execution for Rectitude, marked by record performance across revenue, net income, and EBITDA. They were our strongest financial metrics since becoming a publicly traded company in 2024. Our results were further propelled by highly active local market conditions, as surging public infrastructure and residential project pipelines across Singapore drove strong demand for both our safety solutions and flagship products like our All-in-one Intelligent Micro-grid System (AIMS),” said Mr. Jian Zhang, Chairman, Chief Executive Officer, and Executive Director at Rectitude. “The strategic investments we made in expanding our branch network, expanding logistics, and scaling clean energy innovations are yielding substantial returns. As we carry this momentum forward, we remain dedicated to capitalizing on robust construction tailwinds, providing reliable equipment to our job site partners, and driving maximum value for our shareholders.”
Revenues
For the fiscal year ended March 31, 2026, total revenues were
Cost of Revenues
For the fiscal year ended March 31, 2026, cost of revenues was
Gross profit
Gross profit for the fiscal year ended March 31, 2026, was
Selling and marketing expenses
Selling and marketing expenses primarily included expenses related to advertising and marketing activities and costs associated with our retail branches, which included labor costs, sales commissions and operating lease expenses. For the fiscal year ended March 31, 2026, selling and marketing expenses were
Research and development expenses
Research and development expenses primarily consisted of compensation cost to engineering, design and product development employees and software expenses. For the fiscal year ended March 31, 2026, research and development expenses were nil, compared to
General and administrative expenses
General and administrative expenses consisted primarily of motor vehicle running expenses, transportation, property maintenance and property tax, allowance for expected credit losses and general administrative expenses such as staff costs, depreciation, legal and professional fees and other miscellaneous administrative expenses. For the fiscal year ended March 31, 2026, general and administrative expenses were
Net Income
As a result of the factors described above, net income for the fiscal year ended March 31, 2026, was approximately
Earnings per Share - Basic and Diluted
Earnings per basic and diluted share for the fiscal year ended March 31, 2026, was
EBITDA
The Company also views earnings before interest, taxes, depreciation and amortization, (EBITDA) as an important measure of the results of operations. For the fiscal year ended March 31, 2026, EBITDA was
Outlook
Looking ahead to Fiscal Year 2027, Mr. Zhang commented, “Building on our historic performance in Fiscal 2026, we enter the new fiscal year with strong operational momentum, supported by a vibrant construction market in Singapore and robust demand across our product lines.”
“Over the past year, we delivered directly on the strategic promises we made to our shareholders, scaling our All-in-one Intelligent Micro-grid System (AIMS) to power low-carbon construction sites, while formally establishing the Rectitude Succession Bridge (RSB) which provides a structured, risk-mitigated 'incubate-to-acquire' path for retiring first-generation SME owners. As we move into Fiscal 2027, we expect continued double-digit growth momentum for AIMS and further expansion of our RSB ecosystem across Southeast Asia.”
“Grounded in the core operational principles that have guided Rectitude for over 26 years, we remain focused on disciplined execution to drive sustainable growth and maximize long-term value for our shareholders,” Mr. Zhang concluded.
About Rectitude Holdings Ltd
Founded in 1997 in Singapore, Rectitude is principally involved in the provision of safety equipment, encompassing essential items such as personal protective clothing, gloves, safety footwear, personal fall arrest systems, portable fire extinguishers and traffic products. The Company also offers auxiliary products such as industrial hardware tools and electrical hardware required for construction sites. Rectitude’s products and solutions are marketed to a wide array of distributor networks and end markets, both in Singapore and increasingly throughout the Southeast Asian region, including Brunei, Cambodia, Malaysia, Indonesia, and Vietnam.
For more information, please visit the Company’s website: https://ir.rectitude.com.sg
Forward-Looking Statements
Certain statements in this press release are forward-looking statements, including, but not limited to, statements regarding the Company's future financial performance, outlook, business strategy, plans, and market opportunities. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may,” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's Annual Report on Form 20-F for the fiscal year ended March 31, 2026, and its other filings with the U.S. Securities and Exchange Commission.
For investor and media inquiries, please contact:
Rectitude
Investor Relations
Email: ir@rectitude.com.sg
Jackson Lin
LLYC
Phone: +1 (646) 717-4593
Email: jian.lin@llyc.global
| RECTITUDE HOLDINGS LTD CONSOLIDATED BALANCE SHEETS | ||||||||||||
| As of March 31, | ||||||||||||
| 2025 | 2026 | 2026 | ||||||||||
| S$ | S$ | US$ | ||||||||||
| Assets | ||||||||||||
| Current assets | ||||||||||||
| Cash and cash equivalents | 6,646,788 | 6,054,617 | 4,693,236 | |||||||||
| Accounts receivable, net | 11,547,018 | 15,505,209 | 12,018,863 | |||||||||
| Inventories, net | 7,578,048 | 8,113,271 | 6,289,002 | |||||||||
| Other receivables | 645,462 | 984,591 | 763,206 | |||||||||
| Advance to supplier | 800,000 | 3,043,674 | 2,359,304 | |||||||||
| Advances to related parties | 236,811 | 706,647 | 547,758 | |||||||||
| Total current assets | 27,454,127 | 34,408,009 | 26,671,369 | |||||||||
| Non-current assets | ||||||||||||
| Financial instrument | 236,771 | 233,715 | 181,164 | |||||||||
| Loan receivables | 5,180,380 | 2,410,860 | 1,868,778 | |||||||||
| Property, plant and equipment, net | 6,399,557 | 7,505,578 | 5,817,949 | |||||||||
| Right-of-use assets – operating leases | 4,420,627 | 4,065,355 | 3,151,260 | |||||||||
| Total non-current assets | 16,237,335 | 14,215,508 | 11,019,151 | |||||||||
| Total assets | 43,691,462 | 48,623,517 | 37,690,520 | |||||||||
| Liabilities and shareholders’ equity | ||||||||||||
| Current liabilities | ||||||||||||
| Bank loans, current portion | 400,016 | 487,266 | 377,704 | |||||||||
| Finance lease liabilities, current portion | 199,320 | 206,352 | 159,954 | |||||||||
| Accounts payable | 7,571,503 | 8,861,968 | 6,869,355 | |||||||||
| Operating lease liabilities, current portion | 1,298,058 | 1,513,298 | 1,173,033 | |||||||||
| Other payables | 2,208,350 | 1,688,558 | 1,308,885 | |||||||||
| Provision for income taxes | 454,005 | 856,433 | 663,864 | |||||||||
| Total current liabilities | 12,131,252 | 13,613,875 | 10,552,795 | |||||||||
| Non-current liabilities: | ||||||||||||
| Bank loans, non-current portion | 2,834,183 | 3,518,428 | 2,727,309 | |||||||||
| Finance lease liabilities, non-current portion | 593,510 | 627,176 | 486,155 | |||||||||
| Operating lease liabilities, non-current portion | 3,363,357 | 2,814,797 | 2,181,890 | |||||||||
| Deferred tax liabilities | 1,446 | 1,446 | 1,121 | |||||||||
| Total non-current liabilities | 6,792,496 | 6,961,847 | 5,396,475 | |||||||||
| Total liabilities | 18,923,748 | 20,575,722 | 15,949,270 | |||||||||
| Commitments and contingencies (Note 20) | — | — | — | |||||||||
| Shareholders’ equity | ||||||||||||
| Ordinary shares, US | 1,978 | 1,978 | 1,533 | |||||||||
| Additional paid-in capital | 11,382,600 | 11,382,600 | 8,823,222 | |||||||||
| Retained earnings | 13,444,178 | 17,035,463 | 13,205,041 | |||||||||
| Accumulated other comprehensive losses | (61,042 | ) | (372,246 | ) | (288,546 | ) | ||||||
| Total shareholders’ equity | 24,767,714 | 28,047,795 | 21,741,250 | |||||||||
| Total liabilities and shareholders’ equity | 43,691,462 | 48,623,517 | 37,690,520 | |||||||||
| RECTITUDE HOLDINGS LTD CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME | ||||||||||||||||
| For the Years ended March 31, | ||||||||||||||||
| 2024 | 2025 | 2026 | 2026 | |||||||||||||
| S$ | S$ | S$ | US$ | |||||||||||||
| Revenue | 41,353,555 | 43,796,144 | 51,263,918 | 39,737,227 | ||||||||||||
| Cost of revenue | (26,645,034 | ) | (29,057,985 | ) | (34,774,738 | ) | (26,955,638 | ) | ||||||||
| Gross profit | 14,708,521 | 14,738,159 | 16,489,180 | 12,781,589 | ||||||||||||
| Operating expenses | ||||||||||||||||
| Selling and marketing expenses | (3,423,531 | ) | (4,798,465 | ) | (5,326,659 | ) | (4,128,960 | ) | ||||||||
| Research and development expenses | (76,386 | ) | (156,947 | ) | — | — | ||||||||||
| General and administrative expenses | (7,044,966 | ) | (7,545,515 | ) | (6,898,110 | ) | (5,347,070 | ) | ||||||||
| Total operating expenses | (10,544,883 | ) | (12,500,927 | ) | (12,224,769 | ) | (9,476,030 | ) | ||||||||
| Income from operations | 4,163,638 | 2,237,232 | 4,264,411 | 3,305,559 | ||||||||||||
| Other income/(expense) | ||||||||||||||||
| Other income, net | 198,440 | 421,223 | 662,458 | 513,504 | ||||||||||||
| Interest expense | (214,462 | ) | (200,638 | ) | (175,245 | ) | (135,841 | ) | ||||||||
| Total other income/(expense), net | (16,022 | ) | 220,585 | 487,213 | 377,663 | |||||||||||
| Income before income tax | 4,147,616 | 2,457,817 | 4,751,624 | 3,683,222 | ||||||||||||
| Income tax expense | (792,207 | ) | (219,952 | ) | (1,160,339 | ) | (899,436 | ) | ||||||||
| Net income | 3,355,409 | 2,237,865 | 3,591,285 | 2,783,786 | ||||||||||||
| Other comprehensive loss | ||||||||||||||||
| Foreign currency translation adjustments | — | (61,042 | ) | (311,204 | ) | (241,230 | ) | |||||||||
| Comprehensive income | 3,355,409 | 2,176,823 | 3,280,081 | 2,542,556 | ||||||||||||
| Weighted average number of ordinary shares | ||||||||||||||||
| Basic and diluted* | 12,500,000 | 14,056,164 | 14,500,000 | 14,500,000 | ||||||||||||
| Earnings per share | ||||||||||||||||
| Basic and diluted | 0.27 | 0.16 | 0.25 | 0.19 | ||||||||||||
| RECTITUDE HOLDINGS LTD CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY | ||||||||||||||||||||||||
| Ordinary shares | Additional | Accumulated other | Total | |||||||||||||||||||||
| Number of | paid-in | Retained | comprehensive | shareholders’ | ||||||||||||||||||||
| shares | Amount | capital | earnings | income | equity | |||||||||||||||||||
| S$ | S$ | S$ | S$ | S$ | ||||||||||||||||||||
| Balance as at April 1, 2023* | 12,500,000 | 1,707 | 3,377,293 | 7,850,904 | — | 11,229,904 | ||||||||||||||||||
| Net income | — | — | — | 3,355,409 | — | 3,355,409 | ||||||||||||||||||
| Balance as at March 31, 2024 | 12,500,000 | 1,707 | 3,377,293 | 11,206,313 | — | 14,585,313 | ||||||||||||||||||
| Issuance of ordinary shares | 2,000,000 | 271 | 8,005,307 | — | — | 8,005,578 | ||||||||||||||||||
| Net income | — | — | — | 2,237,865 | — | 2,237,865 | ||||||||||||||||||
| Foreign currency translation adjustments | — | — | — | — | (61,042 | ) | (61,042 | ) | ||||||||||||||||
| Balance as at March 31, 2025 | 14,500,000 | 1,978 | 11,382,600 | 13,444,178 | (61,042 | ) | 24,767,714 | |||||||||||||||||
| Net income | — | — | — | 3,591,285 | — | 3,591,285 | ||||||||||||||||||
| Foreign currency translation adjustments | — | — | — | — | (311,204 | ) | (311,204 | ) | ||||||||||||||||
| Balance as at March 31, 2026 | 14,500,000 | 1,978 | 11,382,600 | 17,035,463 | (372,246 | ) | 28,047,795 | |||||||||||||||||
| Balance as at March 31, 2026 (US$) | 1,533 | 8,823,222 | 13,205,041 | (288,546 | ) | 21,741,250 | ||||||||||||||||||
| RECTITUDE HOLDINGS LTD CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||||||||||
| Years ended March 31, | ||||||||||||||||
| 2024 | 2025 | 2026 | 2026 | |||||||||||||
| S$ | S$ | S$ | US$ | |||||||||||||
| Cash flows from operating activities | ||||||||||||||||
| Net income | 3,355,409 | 2,237,865 | 3,591,285 | 2,783,786 | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities | ||||||||||||||||
| Depreciation of property, plant and equipment | 536,013 | 609,711 | 682,365 | 528,935 | ||||||||||||
| Amortization of right-of-use assets | 986,420 | 1,291,797 | 1,442,271 | 1,117,976 | ||||||||||||
| Operating lease modifications | (7,025 | ) | (30,798 | ) | — | — | ||||||||||
| Gain on disposal of property, plant and equipment | (5,000 | ) | (957 | ) | (34,530 | ) | (26,766 | ) | ||||||||
| Allowance for inventories write-down | 56,415 | — | 89,298 | 69,219 | ||||||||||||
| Provision for allowance for expected credit losses – third parties | 68,436 | 358,426 | 33,074 | 25,637 | ||||||||||||
| Fair value change in financial instrument | (9,502 | ) | (5,478 | ) | 3,056 | 2,369 | ||||||||||
| Changes in operating assets and liabilities | ||||||||||||||||
| Accounts receivable, net | (899,646 | ) | (397,380 | ) | (3,991,265 | ) | (3,093,829 | ) | ||||||||
| Other receivables | 35,705 | (148,153 | ) | (339,129 | ) | (262,878 | ) | |||||||||
| Advance to supplier | — | (800,000 | ) | (2,243,674 | ) | (1,739,184 | ) | |||||||||
| Advances to related parties | — | 121,208 | (469,836 | ) | (364,193 | ) | ||||||||||
| Inventories | (524,506 | ) | (1,328,153 | ) | (624,521 | ) | (484,097 | ) | ||||||||
| Accounts payable | (229,789 | ) | 1,130,409 | 1,290,465 | 1,000,304 | |||||||||||
| Other payables | 1,602,687 | (850,431 | ) | (519,792 | ) | (402,917 | ) | |||||||||
| Finance lease liabilities – interest portion of lease payment | (80,461 | ) | (39,858 | ) | (44,666 | ) | (34,623 | ) | ||||||||
| Operating lease liabilities | (816,855 | ) | (1,224,960 | ) | (1,420,319 | ) | (1,100,960 | ) | ||||||||
| Income tax payable | 131,736 | (723,114 | ) | 402,428 | 311,942 | |||||||||||
| Net cash provided by/(used in) operating activities | 4,200,037 | 200,134 | (2,153,490 | ) | (1,669,279 | ) | ||||||||||
| Cash flows from investing activities: | ||||||||||||||||
| Purchases of property, plant and equipment | (235,355 | ) | (615,809 | ) | (197,410 | ) | (153,022 | ) | ||||||||
| Proceeds from disposal of property, plant and equipment | 5,000 | 1,000 | 34,450 | 26,704 | ||||||||||||
| Disbursement of loan to third parties | — | (7,680,380 | ) | — | — | |||||||||||
| Repayment of loan from third parties | — | 2,500,000 | 2,458,316 | 1,905,564 | ||||||||||||
| Net cash (used in)/provided by investing activities | (230,355 | ) | (5,795,189 | ) | 2,295,356 | 1,779,246 | ||||||||||
| Cash flows from financing activities: | ||||||||||||||||
| Proceeds from common shares issued for cash | — | 9,505,469 | — | — | ||||||||||||
| Repayment to shareholders, net | (186,950 | ) | — | — | — | |||||||||||
| Dividends paid | (2,000,000 | ) | — | — | — | |||||||||||
| Deferred IPO expenses | (543,076 | ) | — | — | — | |||||||||||
| Repayments of bank loans | (126,628 | ) | (566,835 | ) | (524,875 | ) | (406,857 | ) | ||||||||
| Payments for finance lease liabilities – principal portion | (76,991 | ) | (165,385 | ) | (209,162 | ) | (162,132 | ) | ||||||||
| Net cash (used in)/ provided by financing activities | (2,933,645 | ) | 8,773,249 | (734,037 | ) | (568,989 | ) | |||||||||
| Net changes in cash and cash equivalents | 1,036,037 | 3,178,194 | (592,171 | ) | (459,022 | ) | ||||||||||
| Cash and cash equivalents at beginning of the year | 2,432,557 | 3,468,594 | 6,646,788 | 5,152,258 | ||||||||||||
| Cash and cash equivalents at end of the year | 3,468,594 | 6,646,788 | 6,054,617 | 4,693,236 | ||||||||||||
| Supplement disclosures of cash flow information | ||||||||||||||||
| Income taxes paid | (660,471 | ) | (943,066 | ) | (757,911 | ) | (587,482 | ) | ||||||||
| Interest paid | (214,462 | ) | (200,638 | ) | (175,245 | ) | (135,838 | ) | ||||||||
