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According to PublicInvest's latest research, $GREATEC is poised to receive an additional Rm 300-400mil in new orders primarily from its key solar customer $FSLR (First Solar).
The company aims to double its nameplate capacity to 16GW in 2024 by further expanding its manufacturing capacity and footprint in Ohio and India.
$GREATEC being long-standing and critical supplier of production line system (PLS) to First Solar will enable them to continue their strong order flow in FY22-FY23.
Greatec's total current outstanding orderbook is RM 369mil. The bulk of new orders are from the solar industry (80%), while remaining 20% are from EV battery segment.
On-going negotiation with its shortlisted 8 EV customers could also start bearing fruits in advancing to the next phase, albeit possibly only seeing a larger EV order flow in FY23 onwards, in our view. In anticipation of this, the group has been on track as well in expanding its manufacturing floorspace by more than double to c.1m sqft by FY22 to cater for the burgeoning customer demand. Current solid outstanding orderbook stands at c.RM369m.
