KUALA LUMPUR, 12 FEBRUARY 2026 – Verdant Solar Holdings Berhad (“Verdant” or “Group”) has announced its unaudited financial results for its second quarter ended 31 December 2025 (“Q2FYE2026”).
For the six-month period ended 31 December 2025 (“1HFYE2026”), the Group recorded revenue of RM30.71 million. Profit After Tax (“PAT”) stood at RM1.26 million, after accounting for non-recurring listing expenses of RM2.47 million incurred during the current quarter.
The Group’s orderbook remained resilient at RM38 million as of December 2025, representing an increase of over 40% from RM27 million in September 2025. Financial fundamentals remain firm, supported by a healthy cash position of RM54 million and total loans and borrowings of less than RM1 million.
For Q2FYE2026, Verdant’s revenue stood at RM6.77 million. On an adjusted basis, the Group reported a Loss Before Tax (“LBT”) of RM2.98 million, primarily attributed to the one-off, non-recurring listing expenses of RM2.47 million.
As the Group was successfully listed on the ACE Market of Bursa Malaysia Securities Berhad on 22 October 2025, there are no comparative figures for the preceding year’s corresponding quarter.
Lim Tzer Haur, Managing Director of Verdant Solar Holdings Berhad, said, “Our performance this quarter reflects the industry-wide transition following the conclusion of the Net Energy Metering (NEM) policy in June 2025. The six-month absence of an interim incentive framework prior to the commencement of the Solar Accelerated Transition Action Programme (Solar ATAP) in January 2026 led to a temporary cautiousness in the market. This resulted in a slowdown in project execution and revenue recognition during the quarter under review.”
Future Outlook: A Strategic Transition to Solar ATAP
Looking ahead, Verdant is strategically positioned to capitalise on the newly launched Solar ATAP. This framework represents a significant evolution in national solar policy, offering a streamlined, quota-free mechanism that facilitates broader rooftop solar adoption across the residential and commercial sectors. This policy shift, coupled with the National Energy Transition Roadmap (“NETR”) target to achieve 70% renewable energy capacity by 2050, provides a powerful structural tailwind for the Group’s long-term growth. With Solar ATAP now in effect, there is a clear trajectory for recovery and the conversion of the Group’s growing pipeline into revenue.
In line with the expansion strategy outlined in its IPO prospectus, the Group is actively broadening its service footprint across key growth regions in Peninsular Malaysia. Beyond geographical expansion, Verdant remains committed to exploring selective strategic partnerships and value-accretive project collaborations. These initiatives are designed to complement the Group’s core EPCC capabilities and enhance its suite of integrated solar solutions, ensuring it remains at the forefront of Malaysia’s renewable energy sector.
To support this growth, the Group remains focused on operational excellence through disciplined capital and liquidity management. Management is maintaining a cautious approach to inventory procurement to mitigate the impact of global commodity trends, particularly recent fluctuations in silver prices. By balancing proactive cost-management with the execution of its unbilled orderbook, Verdant is well-positioned to protect its margins while scaling to meet rising demand.
The “Policy Gap”: From NEM to Solar ATAP
Managing Director Lim Tzer Haur highlighted that the industry faced a “cautious market” in late 2025. This was due to the gap between the end of the Net Energy Metering (NEM) 3.0 scheme in June 2025 and the start of the new Solar Accelerated Transition Action Programme (Solar ATAP) in January 2026.
Why Solar ATAP is the “Game Changer”:
Unlike the previous NEM scheme, Solar ATAP is designed to be a quota-free mechanism.
- For Residential: Excess energy is credited at retail-linked rates (~RM0.27 to RM0.37 per kWh), making it more attractive for homeowners.
- For Commercial: Credits are based on the System Marginal Price (SMP), creating a dynamic, market-driven value for exported energy.