The agency has also upgraded the company’s short term rating to ‘CARE A1’ from ‘CARE A2’.
CARE Ratings stated that upgrade in ratings assigned to bank facilities of KSH International factors in substantial improvement in the scale of operations and profitability in FY25 and 9M FY26 and strengthening of capital structure post the fund raising by way of initial public offer (IPO).
Growth was supported by sustained demand from key end-user industries and higher realisation. Ratings upgrade also considers successful commissioning of the greenfield project without cost overrun.
CARE Ratings expects KSH to sustain revenue growth while maintaining profitability levels supported by capacity enhancement.
The ratings continue to derive strength from long-track record of operations, experienced promoter group, established and diversified customer base and KSH’s healthy market position in the copper windings wire industry.
These strengths are partially offset by modest profitability, exposure to raw material price volatility, working capital intensive operations and end-user concentration in revenue.
KSH International manufactures insulated copper conductors, which include CTC, paper insulated copper conductors (PICC), wrapped and enamelled rectangular copper/aluminium magnet winding wires and other specialty conductors. As on 31 December 2025, KSH had manufacturing capacity of 43,445 MTPA.
The scrip fell 1.34% to currently trade at Rs 367.40 on the BSE.