Mumbai, Aug. 26 -- The agency has reaffirmed its 'Crisil A1+' rating on the short-term bank facility.

Crisil Ratings stated that the upgrade in the ratings reflects Crisil Ratings expectations that the group's business and financial risk profile will continue to improve driven by strong growth in scale of operations, sustained healthy operating profitability and substantial strengthening of capital structure and liquidity.

Over the years, the group has maintained steady growth in its scale of operations and is expected to sustain this growth in the current fiscal and over the medium term. This is supported by the group's established market position in the automotive component industry, long-standing relationships with marquee domestic a...