- FY2026 revenue increased 33.1% to RM113.0 million driven by stronger project execution.
- Net profit (PAT) jumped 33.9% year-on-year to RM15.3 million.
- Secured a RM119.38 million utility-scale solar contract to lock in earnings visibility from FY2027 onwards.
KUALA LUMPUR, 25th MAY 2026 – Northern Solar Holdings Berhad (“Northern Solar” or “the Group”) announced its financial results for the fourth quarter and full year ended 31 March 2026 (FY2026) today. The Group delivered strong top-line and bottom-line growth, with full-year revenue crossing the RM100 million mark for the first time.
For FY2026, the Group recorded a revenue of RM113.0 million, a 33.1% increase from RM84.9 million in the previous year. This pushed net profit (PAT) up by 33.9% to RM15.3 million.
The core Engineering, Procurement, Construction, and Commissioning (EPCC) segment remains the primary growth driver. EPCC revenue rose 31.5% to RM109.3 million.
The Group also made progress in building its recurring income base, with higher contributions from electricity generation and related green income. This is in line with Northern Solar’s strategy to gradually diversify its earnings beyond project-based EPCC revenue and strengthen long-term income visibility.
For the fourth quarter (4QFY26), revenue stood stable at RM20.7 million. However, PAT improved significantly to RM3.1 million from RM0.5 million a year earlier, largely because the previous year included one-off listing expenses. Sequentially, revenue was lower compared to the immediately preceding quarter due to normal project timing, as older projects neared completion and newly secured projects were still at the early commencement stage.
The Group ended the financial year with a highly liquid balance sheet. Cash and bank balances stood at RM45.3 million. With borrowings of just RM10.3 million (excluding lease liabilities), Northern Solar maintains a very low gearing ratio, giving it the financial capacity to comfortably execute its project pipeline.
During the quarter, the Group secured a major letter of award worth RM119.38 million for the construction and EPCC works of a utility-scale solar power infrastructure. This contract represents a major leap into the utility-scale segment and secures substantial earnings visibility for FY2027.
“FY2026 was an important year for Northern Solar as we crossed RM100 million in revenue and delivered higher earnings. Our entry into utility-scale solar infrastructure through the RM119.38 million contract is a clear milestone. We remain highly disciplined in our project selection, cash management, and margin protection. As the country accelerates its energy transition, we are ready to capture demand across both utility-scale and distributed solar segments, while expanding our recurring income through solar asset ownership and smart energy management,” commented Mr. Lew Shoong Kai, Managing Director of Northern Solar, on the Group’s financial performance.
Looking ahead, Northern Solar expects the renewable energy industry to remain heavily supported by Malaysia’s National Energy Transition Roadmap (NETR). The Group will focus on executing its current order book and aggressively pursuing new contracts to drive sustainable growth in the coming financial year.
