Mumbai, Feb. 17 -- The rating on the short-term bank facilities has been reaffirmed at 'Crisil A1+'.

Crisil Ratings stated that the outlook revision reflects the expected improvement in the business risk profile of the company, driven by increase in revenue and higher backward integration.

The expansion of the iron ore pellet facility to 4.7 million tonne per annum (MTPA) from 2.7 MTPA in December 2025 is expected to support increase in revenue.

Furthermore, receipt of environmental clearance for expansion of the captive iron ore mining capacity at the Ari Dongri mines from 2.35 MTPA to 6.0 MTPA, with production expected to commence by the end of fiscal 2026, will enhance backward integration and reduce dependence on external suppliers...