Mumbai, Dec. 27 -- The agency has also affirmed the company's short-term rating at '[ICRA] A2+'.

ICRA stated that the revision in the outlook factors in an improvement in the company's overall credit profile, supported by a strong recovery in operating performance in FY2025 and H1 FY2026. The remunerative subsidy rates and retail prices for single super phosphate (SSP) supported the improved performance.

Additionally, there has been a sharp uptick in profitability from the sale of sulphuric acid amid its constrained availability in the domestic market. As a result, the credit metrics are expected to witness a significant improvement in FY2026.

ICRA expects RPL's profitability to remain healthy, given the Government of India's (GoI's) f...