Runaya Green Tech Private Limited (RGTPL), a sustainability-focused company of the Runaya Group operating in the natural resources sector, has received a ‘CRISIL A/Stable’ long-term rating and a ‘CRISIL A1’ short-term rating from CRISIL Ratings, reflecting strong revenue visibility, a healthy financial risk profile, and rapid operational scale-up.
In its assessment, CRISIL highlighted Runaya’s accelerated growth, noting that the company’s revenues increased nearly fourfold to ₹270 crore in FY25. The rating agency expects revenues to double in FY26, supported by the commissioning of new capacities and higher production of critical minerals including cadmium, cobalt, nickel, copper, and antimony.
CRISIL noted that Runaya operates a technology-led, sustainability-driven “waste-to-wealth” business model, underpinned by proprietary recovery processes and global technology partnerships across its recycled critical metals portfolio. The company’s operations are powered entirely by renewable energy, reinforcing its focus on responsible and sustainable manufacturing.
The ratings are also supported by long-term supply and purchase agreements with anchor customers, which provide strong revenue visibility. According to CRISIL, Runaya maintains a healthy financial risk profile, characterised by low leverage, strong cash accruals, and interest coverage exceeding five times in FY25, driven by improved cash generation.
Runaya’s critical minerals play a key role in advanced material systems and form an essential part of India’s rapidly expanding electric vehicle and battery ecosystem. By strengthening domestic availability of these materials, the company contributes to reducing import dependence and supports the scale-up of high-tech manufacturing, electric mobility, and energy storage in the country.
Commenting on the development, Neha Bhandari, Group Chief Financial Officer of Runaya, said the CRISIL rating underscores the strength of the company’s business model, operating performance, and financial discipline. She added that Runaya’s leadership in recycling zinc and lead smelter residues, supported by proprietary recovery technologies and global partnerships, has enabled strong revenue growth and cash generation, while positioning the company for expansion across EVs, batteries, and advanced manufacturing.
The company’s critical minerals facilities at Chanderiya and Dariba in Rajasthan, powered by 100% renewable energy, are expected to significantly expand processing capacity and operational scale. Runaya has also committed to achieving water-positive operations by 2027.
CRISIL noted that Runaya’s combination of scale, financial strength, and sustainability focus positions the company well for sustained growth, supporting India’s manufacturing sector and aligning with the country’s energy transition goals.
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