EKI Energy eyes turnover of Rs 1,000 cr in FY22

EKI Energy Services is eyeing Rs 1,000 crore turnover in FY22 and anticipates sales to surge to 50% in 2022-23 in the backdrop of many nations opting for the net-zero emissions target.

EKI Energy, founded in 2011, is one of the prominent firms in the carbon credit industry in India, with an established global footprint. A carbon market refers to a system that enables investors and firms to trade both carbon credits and carbon offsets simultaneously. It assists to mitigate the environmental crisis, decreasing greenhouse gas emissions and additionally forming new market opportunities.

Managing Director and Chief Executive Officer at EKI Energy, Manish Dabkara, told the media that they are aiming for Rs 1,000 crore turnover in the current financial year (FY 2021-22). For the coming fiscal (FY 2022-23), they would be aiming for a 30-50% increase (in turnover) over the current fiscal.

He added that the first two quarters of the current financial year have been excellent for the company. The firm's revenue from operations in the initial six months of FY22 reached Rs 637.17 crore, a sharp jump from the full-year turnover of Rs 191 crore during 2020-21. Likewise, its net profit increased to Rs 116 crore in the first six months of the current fiscal, compared to a net profit of Rs 19 crore recorded for the complete 2020-21.

They are in the way of generating high growth sustainable numbers in the carbon credit industry, and their numbers in H1 (April-September 2021) is a reflection of the same. With more clarity coming in from COP 26 (Glasgow conference), they think the uptrend will remain in their business with incomes rising from both India as well as globally from their several international offices.

Most nations opting for the 'net zero' goal in the coming 20 to 30 years would create notable demand for the firm's products and services. Its strong global network would support the company to improve operations and create a rising sustainable business model.

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