Multibagger alert: This carbon credit developer and supplier soared over 1200% in a year!
![Multibagger alert: This carbon credit developer and supplier soared over 1200% in a year! Multibagger alert: This carbon credit developer and supplier soared over 1200% in a year!](https://storage.googleapis.com/5paisa-prod-storage/files/2022-06/Multi-bagger%20article_2.jpg)
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Last Updated: 12th December 2022 - 12:23 pm
An investment of Rs 1 lakh in this stock last year would have turned to Rs 13.8 lakh today.
EKI Energy Services Ltd, a company that went public in 2021, has turned into a multibagger stock by giving its investors over 12x returns in the last 1 year. During this period, the company’s share price has steadily increased from Rs 543.25 on 07 June 2021 to Rs 7,538.85 on 03 June 2022. Similarly, in the last 14-month period, that is, since the company got listed, the share price has appreciated extraordinarily by over 4400%!
EKI Energy Services Ltd is a global service provider in India in the sphere of energy, carbon credit & quality management. The company offers carbon sustainability advisory services to a wide range of projects such as bio-methanation, renewable power, waste management, energy efficiency and water purification. It also provides advisory services for the validation, registration, monitoring, verification and issuance and supply of eligible carbon credits.
To give a brief background, a carbon credit is a certificate, which permits its holder the right to emit, over a certain period, carbon dioxide or other greenhouse gases. One carbon credit is equal to one ton of carbon dioxide.
The company’s international clients include The World Bank and International Monetary Fund (IMF). On the domestic front, the company provides its services to companies such as NTPC, NHPC, Hindustan Petroleum and GAIL.
In FY22, the company’s revenue from operations grew by a whopping 843% YoY to Rs 1800 crore. The growth in the company’s share price & revenue can be attributed to the rising consciousness of countries and businesses to reduce their carbon emissions. Moreover, the introduction of industry specific emission reduction guidelines such as CORSIA increased global demand for carbon credits.
At the closing bell today, the shares of EKI Energy Services Ltd were trading at Rs 7414.95, a decrease of 1.64% from the previous closing price of Rs 7,538.85 on BSE. The stock has a 52-week high & low of Rs 12,599.95 and Rs 532.60 respectively on BSE.
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