November 11, 2021: CRISIL Rating announced that it has assigned a long-term rating of CRISIL BBB+/Positive to Runaya Private Limited (RPL) while assigning a short-term rating of CRISIL A2.

As per CRISIL, the rating reflects high revenue visibility due to the presence of long-term supplier and customer contracts, strong financial flexibility, and the expectation of healthy return ratios driven by strong performance and efficient working capital management.

The positive outlook reflects the expectation that Runaya will sustain the ramp-up in revenue while also improving its operating margins, which could subsequently result in a rating upgrade. CRISIL also expects the return ratios to be robust due to healthy profit.

Naivedya Agarwal, Co-founder, Runaya said, “With the advent of the 5G revolution, we see double-digit exponential growth in demand for FRP Rods both in India and globally. We have set up an Innovation Cell at our plant, with a focus on value-added products, as well as on digitization and artificial intelligence for enhancing productivity, quality, and safety parameters. We are pleased to receive the Crisil BBB+ / Positive rating which is a validation of the strength of our business.”