Runaya Green Tech Receives CRISIL ‘A/Stable/A1’ Rating, Citing Fourfold Revenue Growth
New Delhi, 20th January 2026: Runaya Green Tech Private Limited (“RGTPL/Runaya”), a Runaya group company focused on sustainability and circular economy solutions in the natural resources sector, has received ‘CRISIL A/Stable’ long-term and ‘CRISIL A1’ short-term ratings from CRISIL Ratings. The ratings reflect the company’s strong revenue visibility, healthy financial risk profile, and rapid scale-up of operations.
CRISIL noted Runaya’s accelerated scale-up, with revenues growing nearly fourfold to ₹270 crore in FY25. Revenue is expected to double in FY26, supported by the commissioning of new capacities and increased production of critical minerals such as cadmium, cobalt, nickel, copper and antimony.
Runaya is a technology-led, sustainability-focused manufacturer, operating a “waste-to-wealth” model supported by proprietary recovery processes and global technology partnerships across its recycled critical metals portfolio. Moreover, the company’s operations are fully powered by renewable energy, reflecting its commitment to responsible manufacturing.
According to CRISIL, the ratings are supported by a long-term supply and purchase agreement with anchor customers, providing strong revenue visibility for Runaya.
The rating agency also noted that Runaya has a healthy financial risk profile, supported by low leverage, strong cash accruals and interest coverage of over five times in FY25, aided by higher cash generation.
The critical minerals produced by Runaya play an important role in advanced material systems, forming the backbone of India’s fast-growing electric vehicle and battery ecosystem, supporting the rapid scale-up of domestic manufacturing also strengthening the availability of critical materials within the country. As high-tech manufacturing, electric mobility and battery production accelerate, dependable access to these metals becomes essential for long-term industry resilience and growth. Runaya’s robust portfolio reinforces the domestic supply base for these metals, reduces reliance on imports, and aligns material availability with the needs of India’s evolving EV and energy-storage landscape.
Neha Bhandari, Group Chief Financial Officer of Runaya, commented “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.”
Powered by 100% renewable energy and with a commitment to achieve water-positive operations by 2027, the critical minerals facilities at Chanderiya and Dariba in Rajasthan will significantly expand the company’s processing capabilities and enhance operational scale. Anchored by strong capital discipline, robust cash generation, and prudent financial management, the company maintains a resilient and future-ready business profile.
This combination of scale, financial strength, and sustainability positions Runaya for sustained growth, supporting India’s robust manufacturing sector.
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 sophisticated technological solutions for circular economy and “waste to wealth” innovations. Runaya’s portfolio includes ground support products for the mining industry, green solutions for the aluminium industry, critical mineral and minor metal recovery, gas-atomized metallurgical powders, and Fiber Reinforced Plastic (FRP) & Aramid Reinforced Plastic (ARP) Rods for the telecommunication sector. The company holds an industry-leading benchmark in gender diversity, employing 50% women.
For more information, visit
www.runaya.com
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