Mumbai, Dec. 3 -- India Ratings and Research stated that the upgrade reflects Pricol's improving scale of business and the agency's expectation of the same continuing over the medium term, supported by continued premiumisation of its products across segments while maintaining a strong credit profile.

The upgrade also reflects diversification of the product portfolio as the company expands its operations into injection moulded plastic components (business acquired from Sundaram Auto Components in January 2025) and the company's ability to diversify into the electric vehicle (EV) segment; although, the same remains in line with industry-level penetration.

The ratings also reflect Pricol's ability to continue to generate strong cash flows ...