Ritamix Global Limited (1936.HK) Q2 2025 Earnings Report

Ritamix Global Limited delivered a standout QQ2 2025 performance with a clear YoY revenue acceleration and meaningful margin stability in a capital-light, highly liquid balance sheet. Revenue reached MYR 64.35 million for the quarter ended 2025-06-30, up 104.6% year over year, supported by volume growth and product mix in the animal feed additives and human food ingredients portfolio. Gross profit was MYR 14.08 million, yielding a gross margin of 21.88%, while EBITDA stood at MYR 6.00 million and operating income at MYR 5.06 million, translating into an operating margin of 7.86%. Net income of MYR 5.21 million produced a net margin of 8.09% and an EPS of MYR 0.0112.

The company benefits from a highly liquid balance sheet, with current ratio of 10.52x, quick ratio of 7.71x, and a cash ratio of 2.86x, alongside a debt ratio of 0.97% and a debt-to-equity of 0.0106x, indicating minimal leverage and strong balance sheet resilience. The payout ratio stands at 5.3%, with dividend yield recorded at 0% in the dataset, suggesting a capital retention posture rather than income distributions in QQ2 2025.

From a profitability and efficiency perspective, ROA is ~3.40%, ROE ~3.72%, and ROCE ~3.61%, with asset turnover around 0.421x. The company operates with a modest cash conversion cycle of approximately 85 days (DSO ~36.8 days, DIO ~64.8 days, DPO ~16.5 days), reflecting working capital dynamics typical of a commodity-influenced agricultural supply business. Although management commentary is not available in this dataset, the reported YoY improvements imply positive demand dynamics and effective cost control during the quarter. Investors should monitor raw material prices, feed ingredient margins, and any shifts in regulatory or currency conditions impacting Malaysia-anchored operations.