Climate change consultancy EKI Energy Services said on Tuesday it had become India’s first listed SME to reach a $1 billion valuation. It reached the milestone within nine months of its debut on BSE on April 7, 2021 with a market capitalization of Rs 96.23 crore, the Indore-based company said in a statement.
On Tuesday, shares of EKI Energy Services hit an all-time high of Rs 10,946 on BSE. The shares quickly posted profits and eventually settled for the day at Rs 9,903.60 each. Its valuation has increased significantly, particularly over the past year as the company has expanded its global footprint and launched several strategic projects, including a joint venture with Royal Dutch Shell. The company recently incorporated a wholly owned offshore subsidiary in the Dubai Free Zone.
Its operating revenue in the first six months of FY21-22 stood at Rs 636 crore. The company expects strong growth momentum over the next few years as the carbon market evolves and demands for carbon credits increase. The climate change company is among the top five carbon asset management companies in the world and is also the first and only company listed on the global carbon market. It is one of the world’s leading carbon credit developers and providers.
The company provides strategic solutions to more than 2,500 companies around the world enabling them to achieve their climate ambitions. Its offerings cover carbon credit/asset management, carbon footprint management, sustainability audits, quality control and management training, among others.