Mumbai, Aug. 26 -- The agency has reaffirmed the company's short-term rating at 'CARE A1+'.

CARE Ratings stated that the upgrade in the long-term rating assigned to bank facilities and instruments of Arvind factor in the sustained improvement in its business risk profile considering growing share of its advanced materials/technical textile business in overall business mix and profitable scale-up of its garment business.

The advanced materials business is characterised by specialised and industrial applications, large addressable market, growing demand, healthy profitability, and lower susceptibility of margins to cyclicality and raw material price fluctuations. The acquisition of Dalco-GFT (Dalco) significantly strengthens the advanced ...