Stock of EKI Energy Services has delivered 5,734 per cent returns in the last nine months. The stock of the carbon credit developer, which stood at Rs 140 on April 7, 2021 rose to Rs 8,168.20 on the Bombay Stock Exchange (BSE) today. The stock listed at Rs 102 on BSE in April this year.
An amount of Rs 1 lakh invested in the EKI Energy Services stock nine months ago would have turned into Rs 58.34 lakh today. In comparison, Sensex has risen 2,614 points or 5.26 per cent during the period.
The share was trading 5 per cent higher at Rs 8,168 today against the previous close of Rs 7,779.25 on the BSE today. Market cap of the firm stood at Rs 5,614.82 crore. EKI Energy Services share has gained 1,134 percent in six months.
The stock opened 4.12 per cent higher at Rs 8,100 today. Total 0. 25 lakh shares changed hands amounting to a turnover of Rs 20.31 crore on BSE.
Seven promoters held 73.47% per cent stake in the firm and 262 public shareholders owned 26.53 per cent at the end of September quarter.
221 public shareholders with individual capital up to Rs 2 lakh owned 5.98 lakh shares of the firm. Only five shareholders with 3.96% stake or 2.72 lakh shares held capital above Rs 2 lakh at the end of September quarter. Two foreign portfolio investors held 3.68 lakh shares or 5.36% stake at the end of Q2 of current fiscal. One financial institution held 4.30 lakh shares in the last quarter.
The share has outperformed its peer Indian Energy Exchange in nine months. Indian Energy Exchange stock has gained 113.69% against EKI Energy Services’ 5,700% return during the period.
Of late, a series of developments seem to have supported the rally in the stock.
Recently, the firm said it has incorporated an offshore wholly owned subsidiary company named as “Enking International FZCO in Dubai free zone (IFAZA) on December 12, 2021. The move is intended to expand presence in the global carbon market and grab the business opportunity in overseas countries.
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The new arm will conduct business in line of climate change, sustainability and supply of offset. It will help in opening up access to new markets for products and services, expanding brand recognition and enable global expansion.
In mid December, reports said the Indore-based green consultancy will form a joint venture with oil major Royal Dutch Shell. Under the joint venture, the oil firm will invest $1.6 billion over a five-year period to provide “nature-based solutions” to industries in India.
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The phenomenal rise in the stock of EKI Energy Services is in line with the financial performance of the firm.
In the September quarter, net profit rose 127.33% to Rs 81.25 crore against Rs 35.74 crore profit for the quarter ended June 2021. Net sales climbed 129.37% to Rs 443.47 crore in Q2 against Rs 193.34 crore for the quarter ended June 2021.
On an annual basis, profit climbed to Rs 18.70 crore for the March 2021 fiscal against Rs 4.51 crore profit in March 2020 fiscal. Net sales rose to Rs 190.79 crore in the last fiscal against Rs 65.90 crore sales for the fiscal ended March 2020.
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In March 2018 fiscal, the firm clocked a profit of Rs 0.27 crore which rose to Rs 0.68 crore in the March 2019 fiscal. Sales stood at Rs 6.99 crore in March 2018 fiscal which rose to Rs 19.76 crore in the next fiscal.
EKI Energy Services is engaged in carbon credits trading, climate change advisory services, business excellence advisory & training services and electrical safety audits.
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