EKI Energy to expand operations in more countries
EKI Energy Services Ltd (EnKing International), a global green consultancy, announced on Wednesday that it has aggressive plans to grow its footprint in the carbon credit market to more countries globally by the end of this financial year, from the current 18 countries.
EnKing International provides climate change, sustainability, and carbon offsetting consultancy services (project development and carbon credit supply).
Globally, the Indore-based company has the highest volume of business in terms of carbon projects generated and carbon credits mobilised.
Manish Dabkara, CMD and CEO, stated that the carbon market is evolving daily and gaining traction as global concern about climate change and its repercussions grows.
“The time has come for us to broaden our international reach. As a cautious corporation, we intend to grow our footprint into further countries by the end of this fiscal year,” he stated in a statement.
Carbon offset customers have geographically specific criteria, and EKI's presence in many countries will enable it to maintain greater control over various areas of the supply chain, according to Dabkara.
EKI is monitoring many nations as possible markets. Additionally, some Fortune 500 businesses are among EKI's Indian customers on a domestic level.
It reported total revenue of Rs 193 crore in the June quarter, owing mostly to increasing demand for carbon credits and higher pricing. In 2020-21, the company's total revenue was estimated to be Rs 190 crore.
Its PAT (profit after tax or net profit) was Rs 36 crore in the June quarter, with margins of 18.5%. The company's PAT for the fiscal year 2020-21 was Rs 19 crore.