Carraro India Limited's credit facilities have been upgraded to IND A+ with a Stable Outlook by India Ratings and Research.

This marks an improvement from IND A with a Positive Outlook across long-term and short-term credit facilities, driven by enhanced EBITDA margins and effective working capital management.

Specifically, the long-term credit facility has decreased to 1,292.10 Cr, while working capital limits were also upgraded, reflecting a stronger financial profile.

Dr. Balaji Gopalan, the Managing Director, highlighted that this upgrade enhances the company’s financial flexibility and lowers borrowing costs.

The promising business outlook is supported by a healthy rural demand forecast and a successful 4WD product strategy, with expected double-digit sales growth fueled by domestic sourcing investments and an expanding product portfolio.