Solar stock Samaiden hits new high after profit doubles
Its shares rose to a new all-time high of RM1.82 after announcing that its FY2026 net profit surged 93%.
The shares of Samaiden Group Bhd reached a new all-time high today following a nearly doubling of its FY2026 net profit, marking its highest annual earnings since the company's listing in 2020. The stock surged as much as 7% or 12 sen to RM1.82, peaking at RM1.77, valuing the renewable energy solutions company at RM992.6 million with 2.9 million shares traded.
Its net profit for Q4 FY2026 surged 107.7% to RM14.76 million, while revenue fell 21.7% to RM105.74 million, impacted by project billing cycles. Despite this, Samaiden declared a second interim dividend of one sen per share, increasing the FY2026 payout to 2.4 sen per share, up 60% from the 1.5 sen paid in FY2025. Apex Securities praised Samaiden's Q4 core net profit, which exceeded forecasts and consensus estimates, driven by strong earnings from utility-scale solar and corporate green power projects, along with improved operational efficiency.
The research house maintains a "buy" rating on the stock with an unchanged target price of RM1.74. TA Securities highlighted the group's focus on replenishing its order book through LSS5+ projects, LSS6 project rollout, and other renewable energy programs, with a tender book worth RM3 billion comprising of utility scale solar tenders and other renewable energy programs.
Samaiden, founded in 2013 by executive director Fong Yeng Foon and group managing director Chow Pui Hee, holds a 31.79% stake in the company.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
