Its shares rose to a new all-time high of RM1.82 after announcing that its FY2026 net profit surged 93%.
The stock rose as much as 7% or 12 sen to RM1.82, a new high for the renewable energy solutions company. It pared its gains to close 4.1% or seven sen higher at RM1.77, valuing the group at RM992.6 million with 2.9 million shares traded.
The shares of the company, which specialises in solar energy projects, have risen 27% year to date and 55% over the past one year.
Its net profit for the fourth quarter ended June 30 (Q4 FY2026) surged 107.7% to RM14.76 million from RM7.11 million a year ago, according to its bourse filing yesterday.
However, quarterly revenue fell 21.7% to RM105.74 million from RM134.95 million previously due to the timing of project billing cycles, as the comparative quarter last year saw peak billing for older solar projects.
The group ended FY2026 with net profit rising 93.3% to RM39.07 million from RM20.21 million in FY2025 while revenue edged up 3.12% to RM364.5 million.
Samaiden declared a second interim dividend of one sen per share, payable on Oct 7. This raised the FY2026 payout to 2.4 sen per share, 60% more than the 1.5 sen it paid in FY2025.
Apex Securities said Samaiden’s Q4 core net profit exceeded its expectations, accounting for 113% of its forecasts and 111% of consensus estimates.
“The strong earnings performance was driven by accelerated progress in utility-scale solar and corporate green power projects, supported by a stronger margin mix and improved operational efficiency,” it said in a note today.
The research house favours Samaiden for its proven expertise in ground-mounted solar PV projects, healthy balance sheet and net cash position, and strategic focus on bioenergy solutions.
It maintained its “buy” call on the stock with an unchanged target price of RM1.74.
TA Securities said the group is focussing on order book replenishment, riding on the ongoing engineering, procurement, construction, and commissioning (EPCC) tenders for Large Scale Solar 5 (LSS5+) projects, the upcoming LSS6 project rollout, and other renewable energy programmes.
It noted the group’s tender book stands at RM3 billion with 85% consisting of utility scale solar tenders and another 15% consisting of rooftop solar, bioenergy, and operations and maintenance (O&M) tenders.
It said Samaiden is targeting a larger 15%-20% share of the 2.65GW LSS6 rollout covering both asset ownership and EPCC contracts. The group’s order book stood at RM435.8 million as at June 30, 2026.
The company was founded in 2013 by its executive director Fong Yeng Foon and Chow Ah On, the father of group managing director Chow Pui Hee.
Pui Hee, who is Fong’s wife, owns a 31.79% stake in Samaiden while Fong holds an 18.68% interest. - FMT
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