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

ICRA said that the upgrade in long-term rating outstanding on the fixed deposits and bank facilities of Wheels India (WIL) considers the expected improvement in its overall credit profile over the near to medium term.

WIL's operating profit margins improved to 7.0% in H1 FY2025, aided by price corrections, increase in proportion of margin-accretive products and cost optimisation measures such as efficiencies in procurement and production, fixed cost controls among others.

This resulted in an improvement in debt metrics and interest coverage metrics compared to past levels. The margins are expected to improve going forward aided by supported by p...