Top Glove reports RM307.96 million profit: CIMB raises target for Top Glove stock to 70 sen

Published on 10/14/2026 at 05:25 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Fiscal 2026 revenue rose 21.00 percent to RM4.23 billion. On October 8, 2026, BIMB upgraded Top Glove stock to buy with a RM1.30 target.

Profit rebound and analyst targets

Top Glove posted RM307.96 million in net profit for fiscal 2026 ended August 31, 2026.
CIMB Research raised its target from 63 sen to 70 sen on October 7, 2026.
Revenue increased 21.00 percent to RM4.23 billion in fiscal 2026.
The final dividend of 1.50 sen per share is payable on December 15, 2026.

Top Glove, MYL7113OO003, Illustration mit AI erstellt.

Top Glove (ISIN MYL7113OO003) reported RM307.96 million in net profit for fiscal 2026 ended August 31, 2026, while CIMB Research raised its target from 63 sen to 70 sen on October 7, 2026. The company also delivered RM4.23 billion in fiscal 2026 revenue, up 21.00 percent from RM3.49 billion, according to Top Glove.

Three results dates define recovery

On October 6, 2026, Top Glove published fiscal 2026 results showing net profit of RM307.96 million, compared with RM105.33 million in fiscal 2025. Revenue reached RM4.23 billion from RM3.49 billion, while the final-quarter net profit rose to RM157.63 million from RM34.83 million a year earlier, according to Bernama.

On October 7, 2026, Top Glove opened at 88 sen, reached 95 sen and closed at 85.5 sen on Bursa Malaysia, while more than 350.122 million shares changed hands. The same report said PublicInvest Research kept an underperform rating and raised its target from 59 sen to 69 sen, while CIMB Research retained reduce and raised its target from 63 sen to 70 sen, as reported by The Edge Malaysia.

What does the rebound mean?

The earnings improvement is substantial, but the operating picture is divided. Fiscal 2026 net cash stood at RM141 million, reversing net debt of RM267 million in fiscal 2025, while fourth-quarter revenue grew 39.70 percent year over year to RM1.25 billion, according to New Straits Times.

Analyst expectations remain wide. On October 8, 2026, BIMB Research upgraded Top Glove to buy with a RM1.30 target, while TA Research retained sell with a 75 sen target and CIMB Research retained reduce with a 70 sen target, according to The Star. The divergence reflects the gap between stronger utilization and persistent global oversupply.

Dividend date sets the next marker

The board declared a tax-exempt final dividend of 1.50 sen per share for fiscal 2026, payable on December 15, 2026. The payout represents a 213.00 percent increase from fiscal 2025, with total fiscal 2026 dividends reaching RM120 million, according to Top Glove.

Balance sheet improves

Top Glove's shift to RM141 million of net cash gives the recovery a stronger financial base, but analysts continue to weigh demand, energy costs and industry capacity before assuming that fiscal 2026 margins can persist.