CARE Ratings Limited has revised the company's long-term bank facility rating, downgrading it to CARE BBB+ with a Stable outlook from CARE A- with a Negative outlook.

This adjustment acknowledges historical operating profitability pressures.

However, the Stable outlook is driven by a successful financial turnaround that has made EBITDA positive.

The company's debt-free balance sheet, net cash position, and internal funding of working capital demonstrate strong financial flexibility, which helps mitigate short-term profitability concerns for shareholders.