EKI Energy Services Enters Footprint in Singapore

In line with its global expansion plans in the carbon credits market, EKI Energy Services Ltd (EKI) has entered the Singapore market through its newly constituted subsidiary ‘EnKing International Pte Ltd’.
 
Through this move, the carbon credits developer and supplier aims to strengthen its global footprint and consolidate its leadership position in the Southeast Asian markets. It is already having a presence in neighboring countries like Thailand, Vietnam, Indonesia and the Philippines.
 
Commenting on the development, Manish Dabkara, CEO and CMD of EKI Energy Services Ltd, said, “we are extremely delighted to establish our presence here in Singapore – a country of beautiful skylines and immaculate greenery which is immensely affirmative for climate and the planet. We will further enhance climate action in the region with our strategic solutions and help businesses in the country to fast track their climate ambition(s) even as we strengthen our operations in the region. We are now present in 16 countries around the world and are fast expanding our global presence.”
 
Moreover, the newly formed subsidiary would provide climate consultancy and advisory services for carbon asset management through its comprehensive bouquet of sustainable solutions.
 
Recently, the company, which is also popularly known as EnKing International, 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.
 
Also, the company’s board had 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.