KUALA LUMPUR (Aug 13): Samaiden Group Bhd 's (KL:SAMAIDEN) recently-ended quarter could turn out to be a new record-high for earnings as project activities accelerate, said an analyst.

The renewable energy contractor may deliver net profit of as much as RM14 million, a 66% year-on-year growth, in the three months ended June 30, 2026 (4QFY2026), according to TA Securities’ forecasts. That could lift earnings for the full FY2026 to RM35 million, the research house noted.

Further, “strong margins are expected to sustain into FY2027 underpinned by early procurement and bulk purchasing strategies for key components such as solar panels, transformers and cables”, the house said in a note.

Samaiden is scheduled to release its results before the end of August.

Shares of Samaiden, which mainly builds solar farms, have gained 38% from the end of February as outbreak of the Iran war and the ensuing surge in crude oil prices raised the appeal of renewable energy.

The stock was last trading at RM1.53, valuing Samaiden at RM873 million. TA Securities raised its target price to RM2.30 from RM1.96 while continuing to recommend ‘buy’ on the stock.

Samaiden’s strong pipeline of renewable energy generation assets with combined capacity of 261 megawatts are scheduled to come on-stream over next two years, TA Securities said, noting that the new assets could eventually contribute 40%-50% of group earnings once fully commissioned.

The target is to capture up to 20% share of the record-sized roll-out in the sixth round of Large Scale Solar (LSS6) programme, equivalent to maximum output of 530 megawatts covering both asset ownership as well as engineering, procurement, construction and commissioning (EPCC) contracts.

“We believe the target will translate into meaningfully larger EPCC contract values” of up to RM1.5 billion, TA Securities added.