Verdant Solar Holdings Berhad Reports Strong Project Pipeline Despite Quarterly Loss

Verdant Solar Holdings Berhad, a Malaysia-based solar energy company, has announced its financial performance for the third quarter ending March 31, 2026, showing continued business growth supported by a strong project pipeline. The company currently holds an orderbook worth around RM49.8 million, reflecting increasing demand for renewable energy solutions among residential and commercial customers across Malaysia. This healthy backlog of secured projects is expected to provide revenue visibility and financial stability in the coming quarters.

During the quarter, the company earned the majority of its revenue from its core engineering, procurement, construction, and commissioning business segment, which contributed RM8.56 million. In addition, operations and maintenance services generated RM0.21 million in revenue. Overall, Verdant Solar recorded a gross profit of RM2.47 million during the reporting period.

Despite the revenue growth, the company reported a net loss after tax of RM1.98 million for the quarter. According to the company, the losses were mainly linked to the ongoing expansion of its operations, changes in project mix, and early-stage margin pressures associated with the installation of integrated Battery Energy Storage Systems under the government’s Solar Accelerated Transition Action Programme. However, the company noted that both revenue performance and loss levels improved compared to the previous quarter, indicating gradual operational progress and better business efficiency.

One of the major business trends highlighted during the quarter was the rising customer demand for solar-plus-storage systems. More consumers and businesses are now looking for energy solutions that can improve long-term energy efficiency while reducing exposure to rising electricity costs. In response to this market shift, Verdant Solar has been strengthening its capabilities in integrated energy storage solutions.

The company also entered into a partnership with Tune Insurance Malaysia Berhad during the quarter. Through this collaboration, customers will be offered combined solar installation and insurance protection packages. The initiative is expected to improve customer confidence and encourage wider adoption of residential solar systems in the country.

On the financial front, Verdant Solar maintained a healthy liquidity position. As of March 31, 2026, the company held RM48.1 million in cash and cash equivalents while keeping total bank borrowings relatively low at approximately RM0.7 million. Looking ahead, the company plans to continue expanding its commercial and residential project pipeline while further developing its expertise in energy storage technologies. Supported by favorable green energy policies and growing sustainability awareness, Verdant Solar aims to strengthen its position in Malaysia’s renewable energy market.