New Delhi/Mumbai (India), November 16: CRISIL Rating announced that it has assigned a long-term rating of CRISIL BBB+/Positive to Runaya Private Limited (RPL) while assigning a short-term rating of CRISIL A2.
As per CRISIL, the rating reflects high revenue visibility due to the presence of the long-term supplier and customer contracts, strong financial flexibility, and the expectation of healthy return ratios driven by strong performance and efficient working capital management.
The positive outlook reflects the expectation that Runaya will sustain the ramp-up in revenue while also improving its operating margins, which could subsequently result in a rating upgrade. CRISIL also expects the return ratios to be robust due to healthy profit.
Naivedya Agarwal, Co-founder, Runaya, said, “With the advent of the 5G revolution, we see double-digit exponential growth in demand for FRP Rods both in India and globally. We have set up an Innovation Cell at our plant, with a focus on value-added products, as well as on digitization and artificial intelligence for enhancing productivity, quality, and safety parameters. We are pleased to receive the Crisil BBB+ / Positive rating, which is a validation of the strength of our business.”
About Runaya:
Runaya’s vision is to deploy cutting-edge technology to enable innovation, sustainability and efficiency improvement in the natural resources industry. Founded by Naivedya and Annanya Agarwal (sons of Vedanta Limited Vice-Chairman Navin Agarwal), the key focus is on executing projects that enable a circular economy and promote the concept of waste to wealth. In addition to ground support products, Runaya’s portfolio includes sustainability solutions for the aluminium industry, minor metals recovery, gas atomized metallurgical powders and other semi-finished products for the telecommunication cable and steel industries. Please visit www.runaya.com for more.
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