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05.02.2025, National, India: Runaya a pioneer and leader in sustainable manufacturing having alliances with global technology leaders across a portfolio of diverse recycled products, has been upgraded by India Ratings to A- (From BBB+) with a stable outlook highlighting its strong fundamentals including all credit financial ratios.
The upgrade is backed by the Recycling Business's impressive operating and financial performance, with revenue surging to INR 329 Crs. in first nine months of FY25, marking a 62% year-on-year growth. Significant improvement in gross interest coverage ratio at 8.4x, which further reflects the strong cash flow generation and disciplined financial management.
Runaya's expansion into minor metal recovery and transition towards 100% renewable energy, aligned with our stated vision towards global environment and governance standards and therefore enhancing its long term investment case.
Naivedya Agarwal, Managing Director of Runaya , commented "Runaya's credit rating upgrade to ' A' category is a validation of our strong financial fundamentals and operational resilience. Our 62% revenue growth demonstrate the scalability of our business model. This upgrade reinforces our position as a financially robust and innovation-driven company, creating long-term value for our stakeholders."
India Ratings' decision also acknowledges the strengthened liquidity and improved financial flexibility of Runaya's key counterparty, which has contributed to Runaya's strengthened liquidity and operational efficiency. The company's ongoing capital expenditure of INR 168 Crs., largely funded through internal accruals and advances.
Runaya's is committed to deploying advanced technologies to drive innovation, sustainability, and efficiency in the natural resources sector. The company focuses on circular economy and "waste to wealth" projects. Runaya's portfolio includes ground support products, green solutions for the aluminium industry, minor metal recovery, gas-atomized metallurgical powders, and FRP & ARP rods for the telecommunication and steel industries. The company maintains a strong commitment to diversity, employing 60% women. For more information, visit www.runaya.com
Pallavi Roy | Head Corporate Communications| Runaya | pallavi.roy@runaya.com