EKI Energy expects Rs 1,000 cr turnover this fiscal, 50% growth in 2022-23

EKI Energy expects Rs 1,000 cr turnover this fiscal, 50% growth in 2022-23

EKI Energy Services is eyeing a turnover of Rs 1,000 crore in the current fiscal and expects sales to grow up to 50 per cent in 2022-23 in the backdrop of many nations opting for the ‘net zero’ emissions goal, a top company official said.

Founded in 2011, EKI Energy is one of the leading companies in the carbon credit industry in India with an established global footprint.

Carbon market refers to a system that allows investors and companies to trade both carbon credits and carbon offsets simultaneously. It helps mitigate the environmental crisis, reduce greenhouse gas emissions and also create new market opportunities.

Talking to PTI, EKI Energy Managing Director and Chief Executive Officer Manish Dabkara said, “We are targeting a turnover to the tune of Rs 1,000 crore in the current fiscal (FY 2021-22). For the next fiscal (FY 2022-23), we will be targeting 30-50 per cent growth (in turnover) over the current fiscal.”

He added that the first two quarters of the current fiscal have been exceptional for the firm.

The company’s revenue from operations in the first six months of FY22 stood at Rs 637.17 crore, a sharp increase from the full-year turnover of Rs 191 crore during 2020-21, he added.

Similarly, its net profit zoomed to Rs 116 crore in the first six months of the current fiscal, as against a net profit of Rs 19 crore reported for the entire 2020-21.

“We are in the process of creating high growth sustainable numbers in the carbon credit industry and our numbers in H1 (April-September 2021) is reflection of the same.

“With more clarity coming in from COP 26 (Glasgow conference), we feel the uptrend will continue in our business with revenues growing from both India as well as globally from our various international offices,” Dabkara added.

Most countries opting for the ‘net zero’ goal in the next 20 to 30 years would create significant demand for the company’s products and services, he said, adding that its strong global network would help the firm scale up operations and create a growing sustainable business model.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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