THEBUSINESSBYTES
BUREAU
NEW DELHI, JANUARY
21, 2026
Runaya Green Tech Private
Limited, a Runaya Group company driving sustainability and circular economy
solutions in the natural resources sector, has secured strong credit
recognition with CRISIL Ratings assigning it ‘CRISIL A/Stable’ for the long
term and ‘CRISIL A1’ for the short term. The ratings underscore the company’s
robust revenue visibility, healthy financial risk profile and rapid scale-up of
operations, reflecting its emergence as a key player in India’s critical minerals
ecosystem.
CRISIL highlighted Runaya’s
accelerated growth trajectory, noting that revenues rose nearly fourfold to ₹270
crore in FY25. The momentum is expected to continue, with revenues projected 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. The agency also cited long-term supply and purchase agreements with
anchor customers as a major factor underpinning strong revenue visibility.
Positioned as a technology-led
and sustainability-focused manufacturer, Runaya operates a distinctive
“waste-to-wealth” model, leveraging proprietary recovery processes and global
technology partnerships across its recycled critical metals portfolio. Its
operations are fully powered by renewable energy, reinforcing its commitment to
responsible manufacturing and environmental stewardship. CRISIL further noted
the company’s 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 a pivotal role in advanced material systems and form the
backbone of India’s rapidly expanding electric vehicle and battery ecosystem.
As high-tech manufacturing, electric mobility and energy storage gather pace,
dependable access to these metals is becoming increasingly vital. Runaya’s
expanding portfolio strengthens the domestic supply base, reduces reliance on
imports and aligns material availability with the evolving needs of India’s EV
and energy transition landscape.
Commenting on the development,
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.”
Powered by 100 per cent
renewable energy and committed to achieving water-positive operations by 2027,
Runaya’s critical minerals facilities at Chanderiya and Dariba in Rajasthan are
set to significantly expand processing capabilities and operational scale. Anchored
by strong capital discipline, prudent financial management and robust cash
generation, the company is building a resilient, future-ready business
platform. This combination of scale, financial strength and sustainability
positions Runaya Green Tech for sustained growth while supporting India’s
robust and rapidly evolving manufacturing sector.
