Solarvest's Net Profit Rises To RM79.81 Mln In FY2026

KUALA LUMPUR, May 20 (Bernama) -- Solarvest Holdings Bhd recorded a higher net profit of RM79.81 million for the financial year ended March 31, 2026 (FY2026), compared with RM51.94 million in the preceding year.

Revenue increased by 41.0 per cent to RM757.09 million from RM536.81 million previously, the clean energy company said in a filing with Bursa Malaysia today. 

"The increase in revenue was primarily driven by stronger contributions from utility-scale projects, following the increase in the order book secured from the Corporate Green Power Programme (CGPP) and Large Scale Solar 5 (LSS5) programmes, coupled with a higher share of profits from associate companies," it said.

In the fourth quarter, Solarvest's net profit rose to RM24.18 million from RM20.53 million in the year-ago quarter, while revenue increased by 19.5 per cent to RM268.66 million from RM224.87 million previously. 

On prospects, Solarvest said CGPP and LSS projects are expected to achieve commercial operations in the first half of 2028.

It added that the company's unbilled order book stood at RM2.47 billion as of March 31, 2026, which will be progressively recognised in the financial years ending March 31, 2027 and 2028. 

"Solarvest remains focused on expanding its order book by leveraging opportunities arising from upcoming initiatives under the LSS6 programme, Corporate Renewable Energy Supply Scheme (CRESS), as well as the Solar Accelerated Transition Action Programme (Solar ATAP), which continue to drive solar adoption and support Solarvest's long-term growth in Malaysia’s renewable energy sector," it said. 

Under the Powervest programme, Solarvest secured a capacity of 133 MWp from multiple corporate power purchase agreements, which is expected to contribute RM53 million in annual recurring revenue upon full completion within the next 12 to 18 months.

-- BERNAMA