- Share price increased from ₹102 per share to ₹10,200 per share in less than one year.
- “Carbon markets are opening up, in this financial year we are targeting revenues of about ₹1800 crore and at least 50-100% growth in the coming years”, said chairman and managing director, Manish Dabkara.
- Multiple factors contributed to the sharp increase in its fortunes and its share price, but the biggest was Joe Biden taking charge as the president of the USA.
EKI Energy Services is an Indore based company and is the largest carbon credit developer and supplier amongst developing countries. In March 2021 it came up with an Initial Public Offering (IPO). Its shares were offered at ₹102 apiece, and today, they are trading at ₹10,200 apiece on the Bombay Stock Exchange(BSE).
In 2019-20, its revenue was ₹66 crores and it had a net profit of ₹4.4 crores. It decided to list on the SME Platform of the BSE. It had a target to raise between ₹18.24-₹18.60 crores and use the proceeds to expand its climate management solutions in India and abroad. It debuted on the BSE with a market capitalization of ₹101.05 crores and its share price has been gaining since then.
It reported a net profit of ₹81.25 crores for the quarter ended September 30, 2021, and ₹161.21 crores for the quarter ended December 2021. It has reported total revenue of ₹1325 crores since its listing.
Some of its esteemed clients are Airport Authority of India, World Bank, United Nations Framework Convention On Climate change, NTPC, Indian Railways, National Hydroelectric Power Corporation, Azure Power, ACME, Fortum, Renew Power, HIRA Group, Indian Oil Corporation Limited, Bank of Baroda, etc. It served more than 2500 corporate customers and 70% of its projects are from India.
“Carbon markets are opening up, in this financial year we are targeting revenues of about ₹1800 crore and at least 50-100% growth in the coming years”, said chairman and managing director, Manish Dabkara.
“By the size of our team, range of services and expertise, we are the largest carbon consultancy in the developing world. If we look globally, we should now rank among the top five carbon credit companies”, he added.
Multiple factors contributed to the sharp increase in its fortunes and its share price, but the biggest was Joe Biden taking charge as the president of the USA.
Joe Biden revoked former U.S. President Donald Trump’s decision of withdrawal from the Paris Agreement on climate change mitigation.
This triggered many corporations across the globe to pledge climate goals causing carbon credit prices to rise. Many large corporations are investing in the carbon credit sector and the voluntary market has become active and attractive.
It has a strong growth momentum and its strong business performance has been supported by the higher demand and pricing of carbon credits, increasing awareness of GHG emissions reduction, changing regulations for climate control, carbon neutrality pledges and widening carbon credit demand-supply gap, the firm said.
It is opening three new international business points in Jordan, Thailand and Indonesia to meet the growing demand for carbon credits. In the Dubai free zone, it operates through its wholly-owned subsidiary canned Enking International FZCO.
99% of the company’s revenue is generated from Climate Change, Sustainability Advisory and Carbon Offsetting and the rest comes from Business Excellence, Training Services and Safety Audits.
Its climate change advisory services include Consultancy for validation, registration, verification, monitoring and issuance of carbon credit projects.
Disclaimer – This article should not be taken as investment advice. Please do your own research before investing.
