Runaya, a pioneering metal recycling startup, is setting ambitious targets for revenue growth and capacity expansion, with a vision to achieve a $1 billion revenue milestone by fiscal year 2030. Led by Annanya Agarwal, the company’s CEO and co-founder, Runaya is on a mission to revolutionize the metal recycling industry and promote a circular economy paradigm of turning waste into wealth.
Strategic Growth Trajectory
In fiscal year 2024, Runaya reported revenues of Rs 500 crore, underlining its steady progress in the metal recycling space. With a recycling capacity of 50,000 tonnes during that period, the company laid a solid foundation for its future expansion endeavors. Looking ahead, Runaya aims to ramp up its recycling capacity to 100,000 tonnes by fiscal year 2025, projecting revenues in the range of Rs 1,000-1,200 crore.
The momentum is set to accelerate further in fiscal year 2026, with Runaya targeting revenues between Rs 2,000-2,200 crore as it doubles its recycling capacity to 200,000 tonnes. Agarwal expressed confidence in the company’s growth trajectory, citing ongoing projects and investments to support its expansion goals. Notably, the company’s performance in the early stages of the current financial year indicates a promising path towards achieving its targets.
Vision for the Future: Scaling to 5 Million Tonnes
Runaya’s ambitious vision extends beyond short-term revenue targets, with a strategic focus on scaling its recycling capacity to 5 million tonnes per annum by fiscal year 2030. Agarwal emphasized the company’s commitment to realizing this ambitious goal, highlighting the substantial investments and operational initiatives underway to enhance its production capabilities.
The investment required to achieve the 5 million tonne capacity target is estimated at approximately Rs 700 crore, a testament to the scale of Runaya’s aspirations and the magnitude of its impact on the metal recycling landscape. Agarwal outlined a multifaceted approach to fund this expansion, leveraging internal accruals, debt financing, and potential partnerships to secure the necessary capital.
Path to Sustainability: Environmental Leadership and Technological Innovation
Central to Runaya’s mission is its dedication to environmental stewardship and technological advancement. The recent inauguration of its calcium aluminate plant in Jharsuguda, Odisha, represents a significant milestone in the company’s journey towards environmental leadership. With a capacity of 12,000 metric tonnes per annum, the facility is poised to deliver premium green products to customers across the steel industry, underscoring Runaya’s commitment to sustainable practices.
Founded by Naivedya and Annanya Agarwal, sons of Navin Agarwal, vice chairman of Vedanta Limited, Runaya embodies a new age approach to resource management. The company’s diverse portfolio encompasses ground support products, sustainability solutions for the aluminum industry, minor metals recovery, and advanced materials such as fibre reinforced plastic (FRP) and aramid reinforced plastic (ARP) rods for telecommunications and steel applications.
Future Outlook: IPO and Continued Innovation
While Runaya explores avenues for future growth, including the possibility of an IPO, Agarwal emphasized that timing was not an urgent priority. Instead, the company remains focused on executing its strategic initiatives, driving innovation, and delivering value to its customers and stakeholders. With a steadfast commitment to excellence and sustainability, Runaya is poised to redefine the metal recycling landscape and lead the transition towards a more circular and environmentally conscious economy.