Mumbai, July 8 -- Crisil Ratings stated that the rating continues to reflect the company's comfortable business risk profile, as reflected in its healthy operating performance and steady improvement in the operating margin, and its healthy financial risk profile backed by low debt profile and healthy cash surplus.

The ratings also factor in strong articulation of support from Blackstone Inc., which through its fund, BCP Asia II Topco II Pte. Ltd., Singapore, holds majority stake of 51.85% in R Systems as on 31 May 2026.

Blackstone has also supported the operations of R Systems with new customer additions from its portfolio, and this is expected to continue over the medium term, diversifying and enhancing R System's customer base. Based ...