Climate change consultancy firm EKI Energy Services said on Tuesday it had become the first Indian company listed on the BSE to achieve a valuation of $ 1 billion. It reached that milestone within nine months of its BSE debut on April 7, 2021 with a market cap of Rs 96.23 crore, the Indore-based company said in a statement.
On Tuesday, shares of EKI Energy Services hit a record 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 grown significantly, especially over the past year, as the company has expanded its global presence and launched several strategic projects, including a joint venture with Royal Dutch Shell. The company recently established a wholly owned offshore subsidiary in the Dubai Free Zone.
Its operating income in the first six months of FY21-22 was Rs 636 crore. The company expects strong growth momentum over the next few years, also as the carbon market evolves and the demand for carbon credits increases. The climate change company is among the top five carbon asset management companies in the world and is also the first and only listed company on the global carbon market. It is one of the main developers and suppliers of carbon credits in the world.
The company offers strategic solutions to more than 2,500 companies around the world enabling them to achieve their climate ambitions. Its offers cover the management of carbon credits / assets, management of the carbon footprint, sustainability audits, training in quality control and management, among others.
First publication: STI