Runaya, a Vedanta Group company focused on technology solutions for the circular economy and critical metals recovery, said its key businesses have received A family credit ratings from CRISIL, strengthening the company’s credit profile as it expands its manufacturing and technology portfolio. The ratings for Runaya Metals Recycling Ltd. (RML) and Runaya Encon Pvt. Ltd. (REL) mark an improvement from the earlier BBB family rating profile. Runaya said the ratings reflect the financial position of its businesses, their operating scale, diversification and long-term customer relationships.
The company recorded nearly three-fold growth in consolidated revenue in FY2026, supported by increased operating scale and expansion across metal recovery, recycling, value-added products and advanced materials. Its business portfolio is supported by long-term contractual arrangements with industrial customers, providing revenue visibility, along with global technology partnerships and manufacturing and project execution capabilities.
The improved credit profile comes as Runaya prepares to invest around ₹700 crore over the next two to three years in capacity expansion and downstream manufacturing. The planned investment is aimed at increasing production capacity and developing higher-value technology-intensive businesses.
One of the key projects is Runaya’s joint venture with ECKART, Germany, which is nearing commissioning of a spherical aluminium powder facility in Jharsuguda, Odisha. The facility will use inert gas atomisation technology and is designed to serve applications across aerospace, automotive coatings, solar cells, agrochemicals and additive manufacturing. The project is also expected to support import substitution in India. Runaya said the maiden rating for REL is supported by strong parent backing, long-term offtake arrangements, assured raw material supply and the complementary capabilities of the joint venture partners.
Naivedya Agarwal, Managing Director, Runaya, said, “The A family ratings for our key businesses mark an important milestone, reflecting the scale, resilience and strength of our partnerships. As we enter our next phase of growth, we remain focused on disciplined capital deployment, operational excellence and long-term value creation.”
Neha Bhandari, Group Chief Financial Officer, Runaya, said, “The ratings reflect the progress we have made in strengthening our financial profile while scaling and diversifying our businesses. The maiden rating for REL further underscores our ability to combine global technology partnerships with strong manufacturing and execution capabilities to build high-value businesses in India.”
Runaya operates across circular economy solutions, critical mineral recovery and advanced materials. Its portfolio includes aluminium dross processing and recycling, critical mineral recovery, value-added products, ground support solutions for mining and gas-atomised metallurgical powders.
The company works with industrial customers and global technology partners to develop resource-efficient manufacturing and recycling solutions. The CRISIL ratings come as Runaya expands its operations and prepares for the next phase of capacity addition and technology-led manufacturing.
