SKS TECHNOLOGIES GROUP LIMITED (SKS)
Share Price Analysis and Chart

04/08/2026

2

Accumulate

$9.40

8.42%

SKS Technologies announced FY26 unaudited revenue, up 33% y/y, some 2% above guidance.

Morgans also points to improved operating leverage with FY26 earnings (EBIT) of $39.3m, some 15% above forecasts. Profit before tax of $39.3m, up 88.9%, also beat the analyst's forecast by around 15%.

Management achieved scale benefits off higher revenue growth over 2H26 with the ramp-up of work on Stack's Mel02 project, the project notes. Profit before tax margins rose 330bps y/y to 11.3%, some 10% above guidance.

The recent AirTrunk Mel2 early-stage works contract, confirms to the broker, the group has a robust outlook for the year ahead. FY27 work in hand is at a near-record of around $312m. Pipeline of tendered work stands at around $1.2bn, of which around $1bn are data centres.

Profit before tax forecasts are raised by 14%-20% for FY26-FY28. No change to Accumulate rating. Target price rises to $9.40 from $8.95.

FORECAST
Morgans forecasts a full year FY26 dividend of 8.00 cents and EPS of 24.00 cents.
Morgans forecasts a full year FY27 dividend of 12.00 cents and EPS of 36.00 cents.

06/08/2026

1

Buy

$10.30

18.80%

Canaccord Genuity maintains a Buy rating for SKS Technologies with its target price increased to $10.30 from $9.05 following upgraded FY26 profit guidance of $39.3m pre-tax profit on $347.9m in revenue.

Margin expansion drives the 15.6% earnings uplift, reflecting an expected FY26 pre-tax margin of 11.3% supported by a strong second-half margin of 12.3%.

Scale benefits and project continuity de-risk contract profitability while ongoing efficiency gains limit margin retraction risks across expanding project volumes.

Contract momentum remains backed by a $1.25bn tender pipeline, dominated by data centre projects for existing clients, including early works on the AirTrunks MEL2 facility in Melbourne.

Upgrading medium-term pre-tax profit forecasts to $61m for FY27 and $81m for FY28, the analyst considers current valuation multiples undemanding given strong compound growth expectations.