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About the company - Business Profile

EKI Energy Services Ltd. (EKIESL), operating under the brand EnKing International, is a prominent player in the global carbon credit market. The company provides climate change advisory, carbon offsetting services, and business excellence solutions. It acts as a bridge between carbon credit generators and buyers, facilitating the development, registration, and sale of offsets globally. EKIESL is strategically positioned in the Voluntary Carbon Market (VCM) and is increasingly aligning with emerging compliance markets and Article 6 negotiations under the Paris Agreement.

Key Points

• Key Facts:
  • Founded: 2008.
  • Headquarters: Indore, Madhya Pradesh, India.
  • Stock Listing: Listed on the BSE (SME Platform initially, now transitioned).
  • Core Products: Carbon credits, ESG advisory, BRSR reporting, and climate risk assessments.
• Operations and Resources:
  • The company operates in over 40 countries with a client base exceeding 3,500.
  • It has mobilized over 200 million offsets to date.
  • Operating facilities include a cookstove manufacturing unit under its subsidiary GHG Reduction Technologies Pvt. Ltd., which has produced 1.8 million units for India and 300,000 units for African markets.
• Privatization and Ownership:
  • The company is promoter-led, with Mr. Manish Dabkara serving as the Chairman and Managing Director.
• Market and Significance:
  • EKIESL serves diverse industries including renewable energy, waste management, and forestry.
  • It plays a strategic role in the global transition to net-zero by providing carbon asset management and sustainability consulting.
• Business Model and Strengths:
  • The business model revolves around project identification, registration, verification, and the subsequent sale of carbon credits.
  • Strengths include a robust project pipeline in Nature-based Solutions (NbS) such as afforestation and sustainable agriculture, and a strong presence in the global voluntary carbon market.
• Revenue Breakdown (FY 2024-25):
  • Total Revenue from Operations: ₹40,657.41 lakhs (Consolidated).
  • Trading Segment: ₹30,397.14 lakhs.
  • Generation Segment: ₹10,239.97 lakhs.
  • Geographical Concentration: Significant operations across Africa (Ghana, Kenya, Malawi), South Asia, and Southeast Asia.
• Key Products and Technology:
  • Improved Cookstoves (ICS): High-efficiency stoves that generate carbon credits by reducing biomass consumption.
  • Nature-based Solutions (NbS): Projects focusing on mangroves, reforestation, and sustainable agriculture.
  • ESG and BRSR Advisory: Helping Indian corporates comply with SEBI’s sustainability reporting mandates.
• Partnerships and Subsidiaries:
  • Jospong Group (Ghana): A partnership aiming to secure $1 billion in carbon credit financing and create 1,000 jobs by 2030.
  • GHG Reduction Technologies Pvt. Ltd.: Focuses on the manufacturing and distribution of carbon-offsetting products.
  • EKI Power Trading Private Limited: Commenced operations in power trading in FY 2024-25.
  • Galaxy Certification Services: Acts as a Designated Operational Entity (DOE) for certification.
• Employee Count and Hiring:
  • The company employs over 190 staff members (as per 2024 reports).
• Strategic Initiatives and Outlook:
  • Demerger: The board has approved the demerger of the Generation Business Segment into "EKI One Community Projects Limited" to streamline operations.
  • New Subsidiary: Incorporation of EKI Green Gas Solutions Private Limited in September 2025 to explore the biogas and green energy space.
  • Focus Areas: Transitioning toward high-quality carbon credit development, cost optimization, and expanding its footprint in Southeast Asia and Africa.

References

1. Annual Report May 2025
2. Annual Report May 2024
3. Results Nov 2025
4. Results Jan 2026
5. Results Apr 2026