Runaya Green Tech Secures CRISIL A/Stable, A1 Ratings

21 Jan 2026 CW Team

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.

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.

Infrastructure Energy

21 Jan 2026

Rays Power Infra Wins Rs 19.12 Bn Renewable Energy Project

Rays Power Infra has secured a 300 MW renewable energy project valued at Rs 19.12 billion from a state-owned company, strengthening its position in India’s utility-scale clean energy sector. With this latest order, the company’s total order book has crossed Rs 80 billion.The project will be executed under Rays Power Infra’s co-development business model. Under this framework, the company will undertake land acquisition, secure interstate transmission system (ISTS) connectivity and carry out complete engineering, procurement and construction (EPC) works. The project is planned to be devel..

Infrastructure Transport

21 Jan 2026

MMRDA Signs $96 Bn MoUs at Davos, Marks Record Day 1 Haul

The Mumbai Metropolitan Region Development Authority (MMRDA) marked a historic achievement on the opening day of the World Economic Forum (WEF) Annual Summit 2026 in Davos by securing investment commitments worth about Rs 8.73 trillion. The investments were formalised through the signing of 10 major Memoranda of Understanding (MoUs), setting a new benchmark for the authority’s global outreach.According to MMRDA, the agreements are expected to generate nearly 9.6 lakh direct and indirect jobs, reinforcing the Mumbai Metropolitan Region’s position as a major talent and economic hub in India ..

Infrastructure Transport

21 Jan 2026

AAI Submits Hydrology Report to WRD for Chennai Airport Corridor

In a move to accelerate the implementation of an elevated corridor and the long-pending satellite terminal at Chennai Airport, the Airports Authority of India (AAI) has submitted a detailed study report to the Water Resources Department (WRD) of the Tamil Nadu government.The satellite terminal, first proposed nearly eight years ago, is aimed at easing congestion by handling additional aircraft and passenger traffic while optimally utilising remote bays at the airport. Although the project remained stalled for several years, it gained renewed momentum in 2024 after AAI revived the proposal.Acco..