Mumbai, June 27 -- The agency has also reaffirmed its 'Crisil A1' rating on the short-term bank facilities of the company.

Crisil Ratings stated that the revision in outlook reflects improvement in the business and financial risk profiles of VPTL. Revenue grew to Rs 1,167 crore in fiscal 2026, from Rs 958 crore in fiscal 2025, owing to healthy demand from domestic and export markets.

The operating margin stood at 17% in fiscal 2026. Further sustenance of revenue growth and profitability will remain a key monitorable.

The ratings continue to reflect the extensive experience of the promoters in the stainless steel pipes business along with increasing scale of operations, healthy operating margin and moderate financial risk profile of the...