Buy Or Sell Opportunity • May 07
Now 20% overvalued Over the last 90 days, the stock has fallen 3.8% to RM0.13. The fair value is estimated to be RM0.10, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 6.8%. New Risk • Apr 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Malaysian stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.3% average weekly change). Profit margins are more than 30% lower than last year (2.0% net profit margin). Market cap is less than US$100m (RM70.1m market cap, or US$17.7m). Buy Or Sell Opportunity • Apr 08
Now 23% overvalued Over the last 90 days, the stock has fallen 7.7% to RM0.12. The fair value is estimated to be RM0.097, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 6.8%. Reported Earnings • Mar 27
Third quarter 2026 earnings released: EPS: RM0.003 (vs RM0.004 in 3Q 2025) Third quarter 2026 results: EPS: RM0.003 (down from RM0.004 in 3Q 2025). Revenue: RM86.9m (down 1.0% from 3Q 2025). Net income: RM1.44m (down 35% from 3Q 2025). Profit margin: 1.7% (down from 2.5% in 3Q 2025). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Dec 19
Second quarter 2026 earnings released: EPS: RM0.003 (vs RM0.002 in 2Q 2025) Second quarter 2026 results: EPS: RM0.003 (up from RM0.002 in 2Q 2025). Revenue: RM90.4m (up 4.9% from 2Q 2025). Net income: RM1.56m (up 27% from 2Q 2025). Profit margin: 1.7% (up from 1.4% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 29
Full year 2025 earnings released: EPS: RM0.013 (vs RM0.072 in FY 2024) Full year 2025 results: EPS: RM0.013 (down from RM0.072 in FY 2024). Revenue: RM353.2m (up 6.7% from FY 2024). Net income: RM6.68m (down 82% from FY 2024). Profit margin: 1.9% (down from 11% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Aug 26
Solid Automotive Berhad, Annual General Meeting, Sep 25, 2025 Solid Automotive Berhad, Annual General Meeting, Sep 25, 2025, at 10:00 Singapore Standard Time. Location: holiday villa johor bahru city centre, diamond 2, 10th floor, no. 260, jalan dato` sulaim, taman abad, 80250 johor bahru, johor, Malaysia Announcement • Jul 15
Solid Automotive Berhad (KLSE:SOLID) entered into a share sale agreement acquire Syarikat Sim Ghee Auto Supply Co. Sdn. Bhd. from Ng Tian Seow, Leong Foo Weng and Hong Kok Liang for MYR 6 million. Solid Automotive Berhad (KLSE:SOLID) entered into a share sale agreement acquire Syarikat Sim Ghee Auto Supply Co. Sdn. Bhd. from Ng Tian Seow, Leong Foo Weng and Hong Kok Liang for MYR 6 million on July 14, 2025. A cash consideration of MYR 6 million will be paid by Solid Automotive Berhad. The purchase consideration for the proposed acquisition will be funded via internally generated funds.
The transaction is contingent upon several conditions, including the dissolution of Paraut Auto Parts (Malaysia) Sdn Bhd by the Companies Commission of Malaysia. Approval for the transfer of Sale Shares from Perodua Sales Sdn Bhd has been secured. Additionally, valid stockist agreements with suppliers such as Perodua Sales Sdn Bhd, Proton Edar Sdn Bhd, Tan Chong & Sons Motor Company Sdn Bhd, and Extreme Market Place Sdn Bhd must remain effective until specified dates ranging from 2025 to 2028. Furthermore, all financial obligations to or from the company’s directors and shareholders must be settled, and all bank facilities must be resolved or terminated, except for the Bank Guarantee from associated banks and financial institutions. The transaction is expected to be completed by the 4th quarter of financial year 2026. Reported Earnings • Jun 27
Full year 2025 earnings released: EPS: RM0.013 (vs RM0.072 in FY 2024) Full year 2025 results: EPS: RM0.013 (down from RM0.072 in FY 2024). Revenue: RM359.8m (down 2.3% from FY 2024). Net income: RM6.68m (down 82% from FY 2024). Profit margin: 1.9% (down from 10% in FY 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 30
Third quarter 2025 earnings released: EPS: RM0.004 (vs RM0.003 in 3Q 2024) Third quarter 2025 results: EPS: RM0.004 (up from RM0.003 in 3Q 2024). Revenue: RM88.2m (up 4.1% from 3Q 2024). Net income: RM2.21m (up 55% from 3Q 2024). Profit margin: 2.5% (up from 1.7% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Dec 20
Second quarter 2025 earnings released: EPS: RM0.002 (vs RM0.001 in 2Q 2024) Second quarter 2025 results: EPS: RM0.002 (up from RM0.001 in 2Q 2024). Revenue: RM87.4m (up 4.8% from 2Q 2024). Net income: RM1.23m (up 371% from 2Q 2024). Profit margin: 1.4% (up from 0.3% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Sep 27
Solid Automotive Berhad Approves Final Dividend for the Financial Year Ended 30 April 2024 Solid Automotive Berhad at its AGM held on September 26, 2024 approved the payment of a Final dividend of MYR 0.006 per ordinary share for the financial year ended 30 April 2024. Reported Earnings • Sep 01
Full year 2024 earnings released: EPS: RM0.072 (vs RM0.019 in FY 2023) Full year 2024 results: EPS: RM0.072 (up from RM0.019 in FY 2023). Revenue: RM368.2m (up 5.0% from FY 2023). Net income: RM37.5m (up 287% from FY 2023). Profit margin: 10% (up from 2.8% in FY 2023). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 30
Full year 2024 earnings released: EPS: RM0.072 (vs RM0.019 in FY 2023) Full year 2024 results: EPS: RM0.072 (up from RM0.019 in FY 2023). Revenue: RM369.3m (up 5.3% from FY 2023). Net income: RM37.5m (up 287% from FY 2023). Profit margin: 10% (up from 2.8% in FY 2023). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 31
Third quarter 2024 earnings released: EPS: RM0.003 (vs RM0.002 in 3Q 2023) Third quarter 2024 results: EPS: RM0.003 (up from RM0.002 in 3Q 2023). Revenue: RM87.1m (up 5.2% from 3Q 2023). Net income: RM1.42m (up 15% from 3Q 2023). Profit margin: 1.6% (up from 1.5% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Reported Earnings • Dec 23
Second quarter 2024 earnings released: EPS: RM0.001 (vs RM0.002 in 2Q 2023) Second quarter 2024 results: EPS: RM0.001 (down from RM0.002 in 2Q 2023). Revenue: RM86.2m (down 3.0% from 2Q 2023). Net income: RM260.0k (down 80% from 2Q 2023). Profit margin: 0.3% (down from 1.5% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. New Risk • Sep 28
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.1% Last year net profit margin: 3.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Profit margins are more than 30% lower than last year (2.1% net profit margin). Market cap is less than US$100m (RM106.5m market cap, or US$22.6m). Board Change • Sep 05
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent & Non Executive Director Siew Tan was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Sep 05
Solid Automotive Berhad Announces Redesignation Mr. Chai Yee Man from Being Non Executive Independent Director to Independent Non Executive Chairman Effective September 4, 2023 Solid Automotive Berhad announced redesignation Mr. Chai Yee Man, 45-year-old, male, from being Non Executive Independent Director to Independent Non Executive Chairman effective September 4, 2023. Reported Earnings • Sep 03
Full year 2023 earnings released: EPS: RM0.019 (vs RM0.013 in FY 2022) Full year 2023 results: EPS: RM0.019 (up from RM0.013 in FY 2022). Revenue: RM350.7m (up 15% from FY 2022). Net income: RM9.69m (up 46% from FY 2022). Profit margin: 2.8% (up from 2.2% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Aug 29
Solid Automotive Berhad, Annual General Meeting, Sep 27, 2023 Solid Automotive Berhad, Annual General Meeting, Sep 27, 2023, at 10:00 Singapore Standard Time. Location: PLO 436, Jalan Gangsa, Kawasan Perindustrian Pasir Gudang, 81700 Pasir Gudang Johor Malaysia Agenda: To receive the Audited Financial Statements for the financial year ended 30 April 2023 together with Directors' and Auditors' Report thereon; to sanction the payment of Directors' fees for the financial year ending 30 April 2024 to be payable on a quarterly basis in arrears; to re-elect Mr Chai Yee Man who retire in accordance with the Company's Constitution; and to discuss other matters. Reported Earnings • Jun 28
Full year 2023 earnings released: EPS: RM0.019 (vs RM0.013 in FY 2022) Full year 2023 results: EPS: RM0.019 (up from RM0.013 in FY 2022). Revenue: RM351.3m (up 18% from FY 2022). Net income: RM9.70m (up 46% from FY 2022). Profit margin: 2.8% (up from 2.2% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Board Change • Apr 07
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent & Non-Executive Director Yee Chai was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 30
Third quarter 2023 earnings released: EPS: RM0.002 (vs RM0.006 in 3Q 2022) Third quarter 2023 results: EPS: RM0.002 (down from RM0.006 in 3Q 2022). Revenue: RM82.8m (flat on 3Q 2022). Net income: RM1.24m (down 60% from 3Q 2022). Profit margin: 1.5% (down from 3.7% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Dec 24
Solid Automotive Berhad Announces the First Interim Single Tier Dividend for the Financial Year Ending April 30, 2023, Payable on 30 Jan 2023 Solid Automotive Berhad announced the First Interim Single Tier Dividend of MYR 0.0030 per ordinary share for the financial year ending April 30, 2023 payable on 30 Jan 2023. Ex-Date is 10 Jan 2023. Entitlement date is 11 Jan 2023. Reported Earnings • Dec 23
Second quarter 2023 earnings released: EPS: RM0.003 (vs RM0.003 in 2Q 2022) Second quarter 2023 results: EPS: RM0.003 (in line with 2Q 2022). Revenue: RM89.7m (up 18% from 2Q 2022). Net income: RM1.29m (down 3.3% from 2Q 2022). Profit margin: 1.4% (down from 1.8% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 03
Full year 2022 earnings released: EPS: RM0.013 (vs RM0.034 in FY 2021) Full year 2022 results: EPS: RM0.013 (down from RM0.034 in FY 2021). Revenue: RM298.4m (down 1.9% from FY 2021). Net income: RM6.72m (down 57% from FY 2021). Profit margin: 2.3% (down from 5.1% in FY 2021). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 01
Full year 2022 earnings released: EPS: RM0.013 (vs RM0.034 in FY 2021) Full year 2022 results: EPS: RM0.013 (down from RM0.034 in FY 2021). Revenue: RM304.9m (flat on FY 2021). Net income: RM6.72m (down 57% from FY 2021). Profit margin: 2.2% (down from 5.1% in FY 2021). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 30
Third quarter 2022 earnings released: EPS: RM0.006 (vs RM0.015 in 3Q 2021) Third quarter 2022 results: EPS: RM0.006 (down from RM0.015 in 3Q 2021). Revenue: RM84.3m (up 6.9% from 3Q 2021). Net income: RM3.06m (down 48% from 3Q 2021). Profit margin: 3.6% (down from 7.4% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Dec 31
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: EPS: RM0.003 (down from RM0.005 in 2Q 2021). Revenue: RM76.9m (flat on 2Q 2021). Net income: RM1.34m (down 37% from 2Q 2021). Profit margin: 1.7% (down from 2.8% in 2Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 05
Full year 2021 earnings released: EPS RM0.034 (vs RM0.018 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: RM304.2m (up 26% from FY 2020). Net income: RM15.5m (up RM22.5m from FY 2020). Profit margin: 5.1% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 03
Full year 2021 earnings released: EPS RM0.034 (vs RM0.018 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: RM304.2m (up 26% from FY 2020). Net income: RM15.5m (up RM22.5m from FY 2020). Profit margin: 5.1% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 31
Third quarter 2021 earnings released: EPS RM0.015 (vs RM0.001 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: RM82.0m (up 29% from 3Q 2020). Net income: RM5.84m (up RM5.34m from 3Q 2020). Profit margin: 7.1% (up from 0.8% in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Reported Earnings • Jan 01
Second quarter 2021 earnings released: EPS RM0.005 The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: RM76.3m (up 5.9% from 2Q 2020). Net income: RM2.11m (up RM2.00m from 2Q 2020). Profit margin: 2.8% (up from 0.2% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 95% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 27
New 90-day high: RM0.22 The company is up 2.0% from its price of RM0.21 on 28 August 2020. The Malaysian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Retail Distributors industry, which is up 3.0% over the same period. Announcement • Nov 17
Solid Automotive Berhad Announces Resignation of MR KER MENG OI as Executive Director Solid Automotive Berhad announced resignation of MR KER MENG OI as Executive Director due to personal commitment. Reported Earnings • Oct 02
First quarter earnings released Over the last 12 months the company has reported total losses of RM5.45m, with earnings decreasing by RM7.70m from the prior year. Total revenue was RM249.9m over the last 12 months, up 23% from the prior year. Reported Earnings • Sep 30
First quarter earnings released Over the last 12 months the company has reported total losses of RM5.45m, with earnings decreasing by RM7.70m from the prior year. Total revenue was RM251.0m over the last 12 months, up 24% from the prior year.