EKI Energy Mulls to Expand Footprints in Carbon Credit Market to More Countries by March-End

Global green consultancy firm EKI Energy Services Ltd, also known as EnKing International, has disclosed its aggressive plans to expand footprints in the carbon credit market to more countries across the globe by the end of this financial year from 18 nations at present.

However, the Indore-based company didn’t disclose the names of the countries in which it is planning to expand its footprints.

EnKing International provides consulting services related to climate change, sustainability, and carbon offsetting (project development and carbon credit supply).

Also, the company has the largest business volume in terms of the number of carbon projects developed and carbon credits mobilised globally.

Commenting on the development, Manish Dabkara, CMD and CEO of EKI Energy Services Ltd, said “the company has been working in the international market since its inception as there was no domestic market for such services then. 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.”

The carbon market is evolving day by day and is gaining prominence as climate change and its effects are a matter of global concern, he said.
“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,” Dabkara added.

He further said, carbon offset buyers have geography-specific requirements and having projects in multiple countries would give EKI better control over various aspects of the supply chain.

The company has been on a robust growth path and several countries are on the radar of EKI as the potential markets. EKI’s list of Indian customers includes several Fortune 500 companies. 

Meanwhile, the company had reported total revenue of Rs 193 crore in the June quarter, mainly on account of increased demand as well as improved pricing of carbon credits. The company’s total revenues stood at Rs 190 crore in 2020-21.

Further, the profit after tax or net profit of the company stood at Rs 36 crore with margins of 18.5 per cent in the June quarter.

For the full fiscal year 2020-21, the company’s profit after tax stood at Rs 19 crore.