Crisil assigns long term credit rating of A- to Minova Runaya

23 Jun 2022 , 11:02 AM

Ratings agency Crisil has given A- long term rating to Minova Runaya Private Limited. The outlook has been kept at Stable. Stable outlook means that the rating agency does not expect the creditworthiness of the company to deteriorate in the foreseeable future.  Short term rating given to the company by Crisil is A2+.

Minova Runaya Private Ltd is a joint venture between Minova Minetek Pvt Ltd and Runaya Metasource LLP.  Minetek holds 51% stake in this venture while Runaya holds 49%. The company manufactures ground support equipment that is used in tunnels and mines. Its manufacturing plant is located in Bhilwara in Rajasthan.  Runaya Metasource LLP is a subsidiary of Vedanta.