Runaya Businesses Achieve ‘A’ Category Credit Ratings from CRISIL
The rating from CRISIL for RML and REL reinforces Runaya’s financial strength and business diversification.
30th September 2026, Mumbai: Runaya, a Vedanta company specialising in advanced technological solutions for the circular economy and critical metals recovery, has strengthened its credit profile, with all its key businesses now positioned in the A family rating category.
CRISIL’s ‘A’ family ratings mark a significant milestone in Runaya’s credit story, reflecting its strengthening financial profile, resilient business fundamentals and growing diversification as the company scales into higher-value and technology-intensive manufacturing. This progression from the earlier BBB family rating profile underscores the continued strengthening of its businesses and provides a stronger foundation for its next phase of growth.
This milestone comes against a backdrop of strong growth, with Runaya’s businesses recording nearly three-fold growth in consolidated revenue in FY2026, supported by increased operating scale, long-term customer relationships and expansion across metal recovery, recycling, value-added products and advanced materials. Its diversified portfolio is further supported by long-term contractual arrangements with leading industrial customers, providing revenue visibility, alongside strategic global technology partnerships and strong manufacturing and project execution strengths.
The strengthening credit profile provides a foundation for Runaya’s next phase of growth, with ~700 crore of planned growth capital expenditure over the next two to three years towards capacity expansion and high-value downstream manufacturing. A key initiative is its joint venture with global leader ECKART (Germany), which is near commissioning of first-of-its-kind inert gas-atomised spherical aluminium powder facility in Jharsuguda, Odisha to serve applications including aerospace, automotive coatings, solar cells, agrochemicals and additive manufacturing, with 100% import substitution. REL’s maiden rating is supported by strong parent backing, long-term offtake, assured raw material supply and complementary capabilities of the JV partners.
Naivedya Agarwal, Managing Director, Runaya, said, “The A family ratings for our key businesses mark an important milestone, reflecting the scale, resilience and strength of our partnerships. As we enter our next phase of growth, we remain focused on disciplined capital deployment, operational excellence and long-term value creation.”
Neha Bhandari, Group Chief Financial Officer, Runaya, said, “The ratings reflect the progress we have made in strengthening our financial profile while scaling and diversifying our businesses. The maiden rating for REL further underscores our ability to combine global technology partnerships with strong manufacturing and execution capabilities to build high-value businesses in India.”
Runaya continues to expand its portfolio across circular economy solutions, critical mineral recovery and advanced materials, supported by technology adoption, sustainability, long-term partnerships and disciplined financial and operational execution.
About Runaya
Runaya (a Vedanta Group company) is committed to deploying advanced technologies to drive innovation, sustainability and efficiency in the natural resources sector. The company provides advanced technological solutions for circular economy and “waste to wealth” innovations. Its portfolio spans aluminium dross processing and recycling, critical mineral recovery, value-added products, ground support solutions for the mining industry and gas-atomised metallurgical powders. Runaya works with leading industrial partners and global technology companies to build resource-efficient and technology-driven manufacturing solutions.
For more information, visit www.runaya.com