KUALA LUMPUR (Aug 27): Samaiden Group Bhd (KL:SAMAIDEN) saw its stock climb to a record high after core earnings growth peaked for the financial year ended June 30, 2026 (FY2026).
The renewable energy solutions provider’s stock rose six sen or 3.53% to a record RM1.76 at market open, valuing the company at nearly RM987 million, as 774,000 shares changed hands.
Currently, Samaiden’s stock value is up by 25% since January this year, with the stock rebounding 86% since its recent low of 91.5 sen in March.
The new high came amid the group closing FY2026 with its highest annual earnings and revenue since its initial listing in 2020.
Core net profit for the year surged 104% to RM38.5 million from RM18.9 million for FY2025 as revenue edged up 3.12% to RM364.5 million from RM353.6 million.
At time of writing, nine research houses tracked by Bloomberg have assigned “buy” calls to Samaiden, with a 12-month average target price (TP) of RM2.00 per share. No houses have assigned "hold" or "sell" calls to the stock.
Apex Securities, who assigned a conservative RM1.74 TP to the stock, associated the earnings jump to its accelerated progress on utility-scale solar and corporate green power projects, underpinned by a richer margin mix and improved operational efficiency.
Notably, the house said its TP could be changed pending an analyst briefing on late Thursday.
RHB Research also noted that the group’s position as a key beneficiary of the Large Scale Solar 6 Programme could additionally support its order book replenishment, thus providing future earnings visibility into FY2027.
RHB Research was especially bullish compared to other research houses, and assigned a TP of RM2.42 on the stock, implying upsides up to 42%.
“Despite the recent share price rally, we see upside potential, as the stock is trading below its three-year average price-earnings ratio of approximately 21 times,” the house said.