The stock of an indian company engaged in climate change and sustainability advisory services has hit an upper circuit of 2% after acquiring a stake in an AI-based company, Webricks Innovations Private Limited.
Price Action
With a market cap of Rs 282.8 crores, the shares of EKI Energy Services Ltd hit an upper circuit of 2 percent at Rs 104.49 as compared to its previous closing price of Rs 102.45. The stock has delivered positive returns of over 4.13 percent in the last month.
What’s the News
The board of EKI Energy Services Ltd has agreed to acquire a 13% stake in Webricks Innovations for Rs. 10.37 crores, and the period for completion of the acquisition is by May 30, 2025
EKI’s investment in Webricks strategically tackles CRM and sustainability challenges. Webricks’ integrated platform offers smart CRM solutions for sectors like solar and finance, alongside advanced AI tools for carbon management. This move strengthens EKI’s services, boosts efficiency, and equips clients with data-driven strategies for their net-zero targets.
Financials of the company
Its revenue from operations has surged by 58 percent from Rs. 45.19 Crores in Q3FY24 to Rs. 71.35 Crores in Q3 of FY25, whereas the company has made a positive profit from the loss of Rs 22.57 crores in Q3FY24 to a profit of Rs 2.35 crores in Q3FY25.
About the companies
EKI Energy Services Limited was incorporated as a Public Limited Company under the Companies Act, 1956 EKI Energy Services Ltd is in the business of Carbon credit offsetting, carbon advisory services, and implementation & development of carbon credit eligible projects the company operates in climate change and sustainability advisory services, specializing in carbon credit trading. The company mobilizes carbon credits for sale in the global voluntary carbon credit market, serving customers in over 40 countries. EKIESL advises and assists clients engaged in carbon avoidance, reduction, and removal projects, handling activities such as registration, validation, verification, issuance, and sale of carbon credits.
Webricks Innovations, incorporated on October 12, 2011, is a software services company specializing in AI-driven CRM and sustainability solutions, and developing industry-specific CRM solutions and AI-powered sustainability applications
Written by Likesh Babu s
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