CRISIL Ratings stated that the ratings upgrade factor in the improved business and financial risk profiles. The business risk profile improvement takes into account better operating efficiency as reflected in higher profitability, healthy execution in the freight wagon segment during fiscal 2024 and presence of diversified order book providing medium term revenue visibility.
In fiscal 2024, topline increased 39% year-on-year to Rs 3,853 crore (fiscal 2023: Rs 2,781 crore, fiscal 2022 Rs 1,482 crore) because of healthy execution of large wagons order of Rs 7,800 crore for manufacture of 24,177 wagons received from Indian Railways in May 2022.
In year-to-date, TRSL has received projects including Vande Bharat order share (Rs 7,026 crore), Surat Metro order (Rs 858 crore), Ahmedab...
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