Crisil Ratings (part of S&P Global) announced that it had assigned Minova Runaya Private Limited (MRPL) a Long-Term Rating of ‘Crisil A-‘ with a ‘Stable’ outlook and a short-term rating of ‘Crisil A2+’.
The rating indicates the healthy financial risk profile, leverage and debt protection metrics, revenue visibility, return ratios, and working capital management, reflecting the strong JV partnership between Minova and Runaya.
Naivedya Agarwal, Chairman, MRPL, said, “We leverage the global technology of Minova and the manufacturing strengths and market reach of Runaya to occupy a premium space in the market for ground support solutions. Safety is a critical aspect of any mining or tunnelling activity, and it is our endeavour to provide products and services that achieve this objective,”