For the year ended March, Sanli reported earnings of $2.2 million, on revenue of $139.6 million, down 11.4%, mainly due to extended project timelines at one of its existing Tuas projects which resulted in revenue recognition delayed to 2027.
Sanli Environmental's FY2026 results were "slightly below" the expectations of Jarick Seet of Maybank Securities but he expects the current FY2027 to be better.
However, given worries that margins will be hurt by higher raw material and delayed revenue recognition, Seet has maintained his "buy" call on the stock but with a lowered target price of 26 cents from 31 cents.
