EKI Energy Services Limited (EKI), a prominent developer and supplier of carbon credits across the globe, reported flat revenue growth of 1.4% in Q2 FY 22-23 to reach Rs. 449.5 crore and profit growth of 17.7% to reach Rs. 95.6 crore.   

During Q2 FY 22-23, EBITDA margin has increased from 24.5% to 28.9% as compared with the corresponding quarter of last financial year.

The company has reported continued profitable growth of 73.3% growth in H1 FY22-23 to reach Rs. 202.6 crore, delivering strong performance despite macro-economic headwinds globally.

EKI has delivered robust growth in the first half of financial year 22-23 despite restrictive factors like the global slowdown, high energy prices and geopolitical uncertainties. The company has liquidity of Rs. 186.5 crore in the form of cash & liquid investments.

The company has launched a Climate Impact Fund of Rs. 1,000 crore (US $125 million) in partnership with Singapore based Fund Management company - Impact Capital Asset Management Pte. Ltd. (ICAM) for GHG mitigation and community development-based projects across the globe. EKI will invest up to Rs. 200 crores (US $25 million) as an anchor investor in the fund with a deep focus on community development. This venture will ensure the long-term sustainable supply of quality carbon credits as well as place the company in the global climate finance market.

Manish Dabkara, Chairman & MD, EKI Energy Services Ltd. said, “Our strong performance is a result of our consistent and focused service delivery with an ardent dream to rehabilitate the planet.  I would like to thank my entire team of climate warriors at EKI for showing so much resilience especially in the current times of global uncertainties. We promise to continue aiming for newer milestones and impactful climate interventions empowering the global climate change journey to a greener, safer tomorrow.”

EKI has now become the first ever company to list a Plastic Project from India with Verra - a global accreditation standard located in Washington, USA. The company will soon become the first ever to generate International Plastic Credits for collecting and recycling plastic waste in the country through the project.

RenewCO2 recently secured an investment round from Energy Transition Ventures. Most recently Anders and Karin Calvinho were named as Breakthrough Energy Network fellows and will continue to research and develop the eCUT system for the conversion of CO2 to chemical products to address decarbonization in the plastics, energy, and chemicals sectors. The eCUT process and electrolyzer systems allows customers to directly convert CO2 to monoethylene glycol (MEG), a widely used building block for plastics and chemicals currently made from fossil fuels.