KUALA LUMPUR (May 20): Solarvest Holdings Bhd (KL:SLVEST) posted its best full-year performance since listing, as net profit surged 53.7% year-on-year for the financial year ended March 31, 2026 (FY2026), driven by stronger utility-scale solar project contributions and higher profit sharing from associates.
Solarvest listed on the ACE Market in 2019 before transferring to the Main Market in 2021.
Net profit for FY2026 came in at RM79.81 million, up from RM51.94 million a year earlier, the group's Bursa Malaysia filing on Wednesday showed. Earnings per share for the year went up to 9.38 sen compared with 7.35 sen in FY2025.
Revenue for the year rose 41% to RM757.09 million from RM536.82 million previously, supported by higher order book wins under the Corporate Green Power Programme (CGPP) and Large Scale Solar 5 (LSS5) programme.
For the fourth quarter ended March 31, 2026 (4QFY2026), net profit increased 17.8% to RM24.18 million from RM20.53 million a year earlier, while revenue climbed 19.5% to RM268.66 million from RM224.87 million previously.
No dividend was declared for the quarter under review.
Solarvest’s engineering, procurement, construction and commissioning (EPCC) of clean energy segment remained its largest contributor, generating RM673.60 million in FY2026 revenue, accounting for 89% of total group revenue, versus RM459.18 million a year earlier.
Revenue from the renewable energy generation segment rose to RM34.26 million from RM26.66 million previously, while operations and maintenance revenue increased to RM13.95 million from RM9.31 million.
Solarvest, which provides solar EPCC services, renewable energy asset development and solar system maintenance services, said it has secured about 25% market share of the LSS5+ programme after winning two EPCC contracts with combined capacity of 506MWac.
Both projects, located in Larut and Matang, Perak and Padang Siding, Perlis, are expected to achieve commercial operations in the first half of 2028.
Solarvest’s unbilled order book stood at RM2.47 billion as at March 31, 2026, which will be progressively recognised over FY2027 and FY2028.
The group also said its Powervest programme has secured cumulative capacity of 133MWp from multiple corporate power purchase agreements, which are expected to contribute RM53 million in recurring annual revenue upon full completion within the next 12 to 18 months.
Solarvest shares were up three sen or 1.16% at RM2.62 as at Wednesday's noon market break, valuing the group at about RM2.51 billion. Year to date, however, the counter is down 16%.