Runaya Green Tech Private Limited (Runaya), part of the Runaya Group, has received ‘CRISIL A/Stable’ long-term and ‘CRISIL A1’ short-term ratings from CRISIL Ratings, reflecting strong revenue visibility, a healthy financial risk profile and rapid scale-up of operations.

CRISIL noted that Runaya’s revenues increased nearly fourfold to Rs 2.7 billion in FY25 and are expected to double in FY26, driven by commissioning of new capacities and higher production of critical minerals such as cadmium, cobalt, nickel, copper and antimony.

The company operates a technology-led, sustainability-focused “waste-to-wealth” model, supported by proprietary recovery processes and global technology partnerships. All operations are powered by renewable energy, underscoring its commitment to responsible manufacturing.

According to CRISIL, the ratings are supported by long-term supply and purchase agreements with anchor customers, ensuring strong revenue visibility. The agency also highlighted Runaya’s healthy financial profile, marked by low leverage, strong cash accruals and interest coverage exceeding five times in FY25.

Runaya’s recycled critical minerals are key inputs for advanced material systems and play a vital role in India’s expanding electric vehicle and battery ecosystem. The portfolio strengthens domestic availability of critical materials, reduces import dependence and supports long-term industrial resilience.

Neha Bhandari, Group Chief Financial Officer, said the rating reflects the strength of the company’s business model, operating performance and financial discipline as it expands its critical minerals portfolio.

Powered by 100 per cent renewable energy and targeting water-positive operations by 2027, Runaya’s facilities at Chanderiya and Dariba in Rajasthan are set to significantly expand processing capacity and operational scale. This combination of financial strength, scale and sustainability positions the company for sustained growth in support of India’s manufacturing and energy transition goals.