Mumbai, Feb. 21 -- The agency has affirmed the company's short-term rating at 'IND A1'.

India Ratings and Research stated that the upgrade reflects a notable improvement in WIL's EBITDA margins, and thus credit metrics at the consolidated level during FY25-9MFY26, supported by sustained revenue diversification and working capital efficiencies.

The agency expects this positive momentum to continue over the near to medium term, driven by higher contributions from margin-accretive segments and ongoing cost-optimisation initiatives undertaken by the company.

India Ratings further said that a significant improvement in the profitability along with improving profitability from newer segments, while maintaining the gross working capital cycle...