Mumbai, Aug. 18 -- The rating on the short-term facilities has been reaffirmed at 'Crisil A1'.

Crisil Ratings stated that the upgrade factors in the higher-than-expected improvement in the operating performance in fiscal 2026, driven by higher revenue growth, healthy utilisation of its manufacturing capacity, and strong operating profitability.

This growth is likely to sustain over the medium term. The upgrade also factors in sustenance of strong financial risk profile over the medium term.

The continuation of the outlook factors that the business risk profile of the company may improve with commissioning and stabilisation of the 7 giga-watt (GW) Topcon cell manufacturing capacity in fiscal 2027, taking the total cell capacity to 10.6 ...