Mumbai, June 23 -- The agency has also affirmed the company's short-term rating at 'CARE A1'.

CareEdge Ratings stated that the reaffirmation of ratings assigned to bank facilities of Tarsons Products (TPL) considers improvement in scale of operation in FY25 with recovery in operating margin in H2FY25.

The margin exhibited recovery from 25.5% in Q2 FY25 to 30.98% and 32.86% in Q3 FY25 and Q4 FY25, respectively.

Ratings further consider comfortable capital structure and debt protection metrics despite slight moderation considering ongoing capex.

Ratings continue to derive strength from the long track record and established brand presence of TPL in the domestic plastic laboratory ware industry aided by its diversified product portfolio, ...