The INKEL Group, a project management consultancy under the Government of Kerala, has reported a turnover of ₹102.89 crore for the Financial Year 2022-23. INKEL, as a standalone company has posted a turnover of ₹81.16 crore for the financial year 22-23 against the turnover of ₹59.40 crore during the FY 2021-22, posting a growth of ₹21.76 Cr at 36.88%.The net profit for the company for the FY 2022-23 is reported at ₹12.87 crore, up from ₹1.16 crore the previous year.
In terms of percentage, the profit has increased by 1,009%. “The increase of 1,009% in the profit registered by INKEL is very encouraging,” said Industries Minister P. Rajeeve, who is also the Chairman of INKEL. The company made significant improvements in implementing large-scale projects such as Cochin Cancer Research Centre (CCRC) and Government Medical College, Ernakulam, (GMC, Ernakulam) and expects both the facilities to be completed in the current year. In addition, the company has made strong strides in implementing solar energy projects. In the renewable energy sector alone, the company posted a turnover of ₹45 crore.
Among the subsidiary companies, INKID, a Joint Venture of INKEL and KSIDC, and INKEL–EKK have performed well and declared an interim dividend of ₹20. The Board of Directors on 26-6-2023 adopted the Annual Accounts of the Company. The Board has also approved an investment plan of ₹487 crore in newer verticals such as warehouses, solar and wind energy projects.
A press note issued by the company revealed plans to establish a 14 MW wind energy plant in Palakkad for supplying to KSEB, for a period of 25 years. The PPA (Power Purchase Agreement) is expected to be signed shortly with KSEB. In addition to this, an 18 MW solar energy plant is also proposed in Palakkad. The company is in talks with Cochin Shipyard, Kochi Metro and KMML for entering into power purchase agreements. Once this is implemented, this will the first Hybrid Renewable Energy Park in the State with a generating capacity of 32 MW.