Mumbai, June 4 -- Crisil Ratings stated that the rating continues to reflect Epigral's healthy business risk profile supported by continued diversification in revenue streams, healthy operating margin and improving demand prospects. The rating also factors in a comfortable financial risk profile.

These strengths are partially offset by the company's high albeit reducing dependence on the intensely competitive chlor alkali industry, exposure to regulatory risks, vulnerability of operating margin to fluctuations in caustic soda prices and exposure to project implementation risks.

Crisil Ratings said that the company's revenue remained largely flat at Rs 2,527 crore in fiscal 2026 due to subdued demand from the construction and infrastruct...