Mumbai, March 13 -- Crisil Ratings stated that the revision in outlook reflects expected improvement in business risk profile backed strong revenue growth; healthy profitability and enhanced manufacturing capacities.

The outlook also reflects a an improved financial risk profile on account of increase in equity through Rs 250 crore of private placement and Rs 250 crore of primary issuance from total initial public offering (IPO) of Rs 500 crore.

With this, the overall networth is expected to increase from Rs 114 crore in fiscal 2024 to Rs 700 crore by end of the current fiscal. Sustained improvement in the business risk profile, especially improvement in revenue and order book, while maintaining a healthy operating margin and working ca...