Mumbai, Feb. 24 -- The agency has also upgraded the company's short term rating to 'CARE A1' from 'CARE A2'.

CARE Ratings stated that upgrade in ratings assigned to bank facilities of KSH International factors in substantial improvement in the scale of operations and profitability in FY25 and 9M FY26 and strengthening of capital structure post the fund raising by way of initial public offer (IPO).

Growth was supported by sustained demand from key end-user industries and higher realisation. Ratings upgrade also considers successful commissioning of the greenfield project without cost overrun.

CARE Ratings expects KSH to sustain revenue growth while maintaining profitability levels supported by capacity enhancement.

The ratings continue...