Energy Efficiency Services Limited (EESL), a joint venture of four PSUs under the Ministry of Power continued its all-round exceptional performance from the last fiscal to 2016-17. EESL registered a revenue of ₹1227.18 crores in 2016-17, growing 19 times from 2014-15. The company's performance demonstrates Government of India's commitment and consumers' participation towards adopting energy efficiency to mitigate climate change.
The company's profit before tax stood at ₹81.12 crore this year in comparison to ₹50.19 crore in 2015-16. The profit of the company grew ₹30.93 crore this fiscal in comparison to the previous year. The net worth of the company as on March 31, 2017 has increased from ₹417.63 crores to ₹555.33 crores this fiscal.
Shri Saurabh Kumar, Managing Director, EESL thanked the company's shareholders, employees, consumer and partners for continued success. Shri Kumar said, "Without the support of our consumers and the right direction led by the Government of India and its policies, this success would not have been possible. EESL will ensure that it continues to tap the energy efficiency market and make it affordable to the masses. I am confident that in the current fiscal we will register a revenue of Rs. 3,000 crore."
During the year, the company spearheaded the successful implementation of the Unnat Jeevan by Affordable LEDs and Appliances for all (UJALA) scheme, under which citizens have benefited from high quality LED bulbs, LED tube lights and energy efficient fans across the country. The company also demonstrated its commitment to make India energy efficient by expanding their schemes across the Street Lighting National Programme, the Energy Efficient Buildings programme, et al. EESL also expanded its operations in international markets by successfully completing pilot projects in Bangladesh and Sri Lanka. It also opened its office in London to cater to the European market.
EESL is the first company in South Asia exclusively focused on energy efficiency implementation and is responsible for facilitating bulk procurement of both LED household lamps and LED streetlights lowering the cost of the product, making it affordable for consumers with a view to replace 77 crore LEDs in households and 1.34 crore LED street lights by 2019
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