EKI Energy to expand operations in more countries by March-end
Sep 22, 2021
New Delhi [India], Sep 22 : Global green consultancy firm EKI Energy Services Ltd (EnKing International) said on Wednesday it has drawn aggressive plans to expand its footprints in the carbon credit market to more countries across the globe by the end of this financial year from 18 nations at present.
EnKing International provides consulting services related to climate change, sustainability and carbon offsetting (project development and carbon credit supply).
The Indore-based company has the largest business volume in terms of the number of carbon projects developed and carbon credits mobilised globally.
Manish Dabkara, CMD and CEO, said the carbon market is evolving day by day and is gaining prominence as climate change and its effects are a matter of global concern.
"The time is ripe for us to expand our international footprint. As a prudent business organisation, we are targeting to expand our presence to more nations by the end of this financial year," he said in a statement.
Carbon offset buyers have geography-specific requirements and having projects in multiple countries will give EKI a better control over various aspects of the supply chain, said Dabkara.
Several countries are on the radar of EKI as the potential markets. Domestically as well, EKI's list of Indian customers includes several Fortune 500 companies.
It reported total revenue of Rs 193 crore in the June quarter, mainly due to increased demand as well as improved pricing of carbon credits. The company's total revenues stood at Rs 190 crore in 2020-21.
Its PAT (profit after tax or net profit) stood at Rs 36 crore with margins of 18.5 per cent in the June quarter. For the full fiscal year 2020-21, the company's PAT stood at Rs 19 crore.
