EKI Energy PAT Zooms 1950.6% to Rs 383.4 Cr in FY22; Announces Bonus Issue

EKI Energy Services Ltd, also popularly known as EnKing International, has reported significant growth of 1950.6 per cent in its net profit after tax (PAT) to Rs 383.4 crore during FY2022, mainly on account of higher revenue from operations.

The net profit of the company, one of the leading companies in the carbon credit industry in India, stood at Rs 18.7 crore during FY2021. Also, its net profit rose by 127.7 per cent to Rs 266.4 crore in H2FY22, against Rs 117 crore during H1FY22.

Moreover, revenue from operations of the company, too, grew by 843.5 per cent to Rs 1800.1 crore during FY22, as compared to Rs 190.8 crore in FY2021.

During H2 FY22, the company’s revenue from operations up by 82.7 per cent to Rs 1163.3 crore, from Rs 636.8 crore in H1FY22.

Commenting on the performance, Manish Dabkara, CMD and CEO of EKI Energy Services Ltd, said “We are delighted to report yet another stupendous performance. The commendable growth in both our top-line as well as bottom-line is a result of the team’s continued endeavour to deliver the best services to our customers. We achieved many milestones in the year 2022 and as we gear up for 2023, we promise to continue the momentum and empower the planet’s journey to net-zero.”

The Board of Directors of the company has approved the issuance of bonus shares as well as the migration of the company from the SME segment to the main board at BSE, subject to approvals. It also declared & paid an interim dividend of Rs 20 per share for FY21-22.

Recently, the company unveiled a new brand identity and embarked on an enhanced journey to build a greener future with its new brand positioning of “Steering the planet to net-zero”. The new logo embraces green and blue colors of nature, sky and oceans to represent the globe and zero to symbolize the brand’s stride to net-zero. The company also committed to becoming net-zero by the year 2030 and also defined a target to mobilize up to 1 billion credits within the next 5 years (by 2027).

Buoyed by the earnings, shares of the company closed on the bourse at Rs 8,341.25 apiece up 15.1 per cent from the previous day’s close.