Green consultancy firm EKI Energy on Wednesday said it plans to expand its footprints in the carbon credit market of more countries from over 18 nations at present, by March next year.
The Indore-based company provides consulting services related to climate change, sustainability, and carbon offsetting.
It has the largest business volume in terms of the number of carbon projects developed and carbon credits mobilised globally.
The company has been working in the international market since its inception as there was no domestic market for such services then, Manish Dabkara, CMD & CEO, EKI Energy Services said.
“With time and effort, we have established this market across India also. We embarked on global expansion in 2019 with Vietnam and are now present in more than 18 countries,” he added.
He said the carbon market is evolving day by day and is gaining prominence as climate change and its effects are a matter of global concern.
”The time is ripe for us to expand our international footprint. As a prudent business organisation, we are targeting to expand our presence to more nations by the end of this financial year,” Dabkara added.
Carbon offset buyers have geography-specific requirements and having projects in multiple countries would give EKI a better control over various aspects of the supply chain, he added.
Several countries are on the radar of EKI as the potential markets, it added.
Domestically as well, EKI’s list of Indian customers includes several Fortune 500 companies.
It has reported total revenue of Rs 193 crore for June quarter, mainly due to increased demand as well as improved pricing of carbon credits. Total revenues in 2020-21 stood at Rs 190 crore.
Its net profit stood at Rs 36 crore with margins of 18.5 per cent in June quarter. For the full fiscal year 2020-21, the company’s profit was Rs 19 crore.