KUALA LUMPUR, MY / ACCESS Newswire / May 15, 2026 / Verdant Solar Holdings Berhad ("Verdant Solar" or the "Group"), an integrated solar photovoltaic ("PV") solutions provider, today announced its unaudited financial results for the third quarter ended 31 March 2026 ("Q3 FY2026"), supported by expanding customer adoption, growing project execution activities and continued demand across Malaysia's residential and commercial solar segments.
Verdant Solar Holdings Berhad
Revenue for the quarter was primarily contributed by the Group's Engineering, Procurement, Construction and Commissioning ("EPCC") segment, which accounted for RM8.56 million or 97.61% of total revenue, while operations and maintenance ("O&M") services contributed RM0.21 million. The Group continued to benefit from increasing market adoption and active project implementation across residential and commercial solar segments.
Gross profit stood at RM2.47 million in Q3 FY2026, reflecting continued project execution and operational delivery activities. Gross profit margin was influenced by evolving project composition, including increasing Battery Energy Storage System ("BESS") deployments under the Solar Accelerated Transition Action Programme ("Solar ATAP"), as market demand progressively shifts towards integrated energy solutions.
During Q3 FY2026, the Group recorded a loss after tax of RM1.98 million, primarily reflecting ongoing operational scaling activities, evolving project mix and margin impact from increasing BESS deployments under Solar ATAP. Nevertheless, the Group recorded stronger revenue performance and improved quarterly losses compared to the preceding quarter, supported by improving project execution and customer acquisition activities.
Mr. Zeth Lim, Managing Director of Verdant Solar Holdings Berhad commented, "Demand across Malaysia's renewable energy market continues to expand as customers increasingly prioritise long-term energy efficiency, sustainability and integrated energy solutions. At the same time, growing adoption of solar-plus-storage solutions is creating new opportunities across both residential and commercial segments. Verdant Solar remains focused on strengthening execution capabilities, expanding customer reach and enhancing our integrated renewable energy offerings as we continue building a scalable platform positioned to participate in Malaysia's long-term energy transition."
During the quarter, the Group further strengthened its ecosystem capabilities through its collaboration with Tune Insurance Malaysia Berhad, introducing an integrated solar and protection offering aimed at enhancing customer confidence and supporting broader residential solar adoption.
As at 31 March 2026, the Group maintained a strong financial position with cash and cash equivalents of RM48.1 million and total bank borrowings of approximately RM0.7 million, providing financial flexibility to support future expansion initiatives and operational scaling.
Moving forward, Verdant Solar will continue expanding its project pipeline across residential and commercial segments while strengthening capabilities in integrated solar-plus-storage solutions. Supported by increasing renewable energy adoption, rising electricity cost awareness and supportive long-term industry trends, the Group remains focused on disciplined execution, strengthening market presence and scaling operational capabilities within Malaysia's evolving renewable energy landscape.
As at 31 March 2026, Verdant Solar's outstanding orderbook stood at approximately RM49.8 million, providing continued earnings visibility over the coming quarters. The expanding orderbook reflects sustained demand across residential and commercial solar adoption, alongside increasing interest in integrated solar-plus-storage solutions.
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ABOUT VERDANT SOLAR HOLDINGS BERHAD
Founded in 2015, Verdant Solar Holdings Berhad is principally involved in the provision of integrated solar PV solutions, with core activities spanning Engineering, Procurement, Construction and Commissioning ("EPCC") services for solar PV systems, operations and maintenance ("O&M") services, trading of solar products and related renewable energy solutions. The Company has grown from initially marketing solar systems for residential properties into an end-to-end solar solutions provider, serving residential, commercial and industrial customers across Malaysia. Verdant Solar was listed on the ACE Market of Bursa Malaysia Securities Berhad on 22 October 2025 under the stock name "VERDANT" and stock code "0373". The Company remains committed to supporting Malaysia's transition towards cleaner and more sustainable energy adoption.
For more information, visit https://verdantsolar.my/.
Issued By: Swan Consultancy Sdn. Bhd. on behalf of Verdant Solar Holdings Berhad
For more information, please contact:
Jazzmin Wan
Email: j.wan@swanconsultancy.biz
Asyraf Hakimi
Email: a.hakimi@swanconsultancy.biz
SOURCE: Verdant Solar Holdings Berhad
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/electronics-and-engineering/verdant-solar-accelerates-growth-with-rm49.8-million-orderbook-and-expa-1167384
