Northern Solar Holdings Berhad (KLSE:NORTHERN)

KLSE:NORTHERN Financials Overview

Financials in millions MYR. Fiscal year is April - March.

Revenue & Profits

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Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Revenue Revenue Growth	123.11	113	84.87	77.97	44.67	22.23
Revenue Growth	32.61%	33.15%	8.84%	74.55%	100.94%	-
Gross Profit Gross Profit Growth	38.51	38.83	32.07	21.59	11.31	5.05
Operating Income Operating Income Growth	20.78	20.79	17.21	13.09	7.55	3.36
Net Income Net Income Growth	15.4	15.28	11.41	10.09	6.12	3.11
Earnings Per Share EPS Growth	0.04	0.04	0.03	10.09	6.12	3.11
EPS Growth	19.89%	14.53%	-99.67%	64.98%	96.88%	-

Revenue by Segment

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Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
EPCC of Solar PV Systems EPCC of Solar PV Systems Growth	119.35	109.32	83.15	77.03	44.26	22.23
Sale of Electricity through Solar Energy Generation Sale of Electricity through Solar Energy Generation Growth	2.45	2.31	1.58	0.95	0.41	-
Operations and Maintenance Services Operations and Maintenance Services Growth	0.22	0.28	0.13	-	-	-
Sale of Renewable Energy Certificate Sale of Renewable Energy Certificate Growth	-	1.09	-	-	-	-
Total Total Growth	123.11	113	84.87	77.97	44.67	22.23

Cash & Debt

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Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Cash & Investments Cash & Investments Growth	44.51	45.49	52.4	9.17	7.89	2.47
Total Debt Total Debt Growth	12.03	12.83	12.63	7	7.47	0.95
Net Cash (Debt) Net Cash Growth	32.48	32.66	39.76	2.17	0.42	1.52
Net Cash Growth	-16.76%	-17.87%	1735.08%	411.70%	-72.08%	-
Net Cash Per Share Net Cash Per Share Growth	0.08	0.08	0.12	2.17	0.42	1.52

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Operating Cash Flow Operating Cash Flow Growth	-0.94	2.42	8.38	7.64	2.41	0.89
Capital Expenditures CapEx Growth	-6.44	-10.01	-3.16	-7	-0.15	-0.14
Free Cash Flow Free Cash Flow Growth	-7.38	-7.59	5.22	0.64	2.25	0.75
Free Cash Flow Growth	-	-	718.54%	-71.69%	198.67%	-

Margins

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Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Gross Margin	31.29%	34.37%	37.80%	27.68%	25.31%	22.73%
Operating Margin	16.88%	18.40%	20.28%	16.79%	16.91%	15.10%
Pretax Margin	17.75%	19.32%	20.11%	16.31%	16.02%	14.99%
Profit Margin	12.51%	13.53%	13.45%	12.94%	13.69%	13.97%
FCF Margin	-6.00%	-6.72%	6.15%	0.82%	5.04%	3.39%

Valuation

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Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 21, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
PE Ratio	17.73	15.79	23.40	-	-	-
Forward PE	12.11	11.55	17.76	-	-	-
P/FCF Ratio	-	-	51.16	-	-	-
PS Ratio	2.22	2.14	3.15	-	-	-

Data Source: S&P Global Market Intelligence Last updated: Aug 28, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Sep 21, 2026

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