Runaya Green Tech Private Limited (RGTPL), a Runaya Group company focused on sustainability and circular economy solutions, has secured strong credit ratings from CRISIL, earning ‘CRISIL A/Stable’ long-term and ‘CRISIL A1’ short-term scores.
The ratings reflect the company’s robust revenue visibility, healthy financial profile, and rapid operational scale-up.
CRISIL highlighted Runaya’s accelerated growth, with revenues jumping nearly fourfold to ₹270 crore in FY25. The agency expects revenue to double in FY26, driven by new capacities and increased production of critical minerals including cadmium, cobalt, nickel, copper, and antimony.
A technology-led, sustainability-focused manufacturer, Runaya operates a “waste-to-wealth” model through proprietary recovery processes and global technology partnerships across its recycled critical metals portfolio. Its operations are fully powered by renewable energy, underscoring the company’s commitment to responsible manufacturing.
The rating agency noted that long-term supply and purchase agreements with anchor customers provide strong revenue visibility. Runaya’s financial health is further reinforced by low leverage, strong cash accruals, and an interest coverage ratio exceeding five times in FY25, supported by higher cash generation.
Critical minerals produced by Runaya are central to advanced material systems and form the backbone of India’s fast-growing electric vehicle (EV) and battery sectors. By strengthening domestic manufacturing and reducing import reliance, Runaya’s portfolio supports India’s EV and energy-storage ecosystem while ensuring long-term industry resilience.
Neha Bhandari, Group Chief Financial Officer of Runaya, said: "The CRISIL rating underscores the strength of our business model, operating performance and financial discipline as we enhance our critical minerals portfolio.
"Our leadership in recycling zinc and lead smelter residues, supported by proprietary recovery processes and global technology partnerships, has enabled strong revenue growth and cash generation. As we expand capacity and deepen partnerships across electric vehicles, batteries and advanced manufacturing, we remain focused on building a resilient, sustainable business aligned with India’s energy transition."
Runaya’s facilities at Chanderiya and Dariba in Rajasthan, powered by 100% renewable energy and targeting water-positive operations by 2027, are set to expand processing capabilities and operational scale. Anchored by capital discipline, robust cash generation, and prudent financial management, the company is well-positioned for future growth.
With this combination of scale, financial strength, and sustainability, Runaya is poised to support India’s rapidly evolving manufacturing sector while advancing the nation’s energy transition goals.
