The Business Bytes
TBB BUREAU
NEW DELHI, SEPT 22, 2021
Global green consultancy firm EKI Energy Services Ltd (EnKing International) on Wednesday said it has drawn aggressive plans to expand its footprints in the carbon credit market to more countries across the globe by the end of the current 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.
The company has been working in the international market since its inception as there was no domestic market for such services then, said Manish Dabkara, CMD & CEO, EKI Energy Services Ltd, adding, “With time and effort, we have established this market across India also. We embarked on global expansion in 2019 with Vietnam and are now present in more than 18 countries.”
Dabkara 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 added.
Carbon offset buyers have geography-specific requirements and having projects in multiple countries would give EKI a better control over various aspects of the supply chain, he added.
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. The company has been on a robust growth path. It has 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 revenue 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. In fiscal year 2020-21, the company’s PAT stood at Rs 19 crore.
