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Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
Bank Loan Ratings | 9.00 | ACUITE C | Reaffirmed | - |
Bank Loan Ratings | 6.00 | ACUITE D | Downgraded | - |
Total Outstanding | 15.00 | - | - |
Total Withdrawn | 0.00 | - | - |
Rating Rationale |
Acuite has downgraded its long term rating to 'ACUITE D' (read as ACUITE D) from 'ACUITE C' (read as ACUITE C) on the Rs.6.00 crore bank facilities of Om Shri Shubh Labh Agrifresh Private Limited. Further, Acuite has reaffirmed its long term rating of 'ACUITE C' (read as ACUITE C) on the Rs.9.00 crore bank facilities of Om Shri Shubh Labh Agrifresh Private Limited. |
About the Company |
Om Shri Shubh Labh Agrifresh Private Limited was incorporated in 2019. The company is engaged in trading of cereals, agriculture produce, fruits, vegetables etc. It is currently managed and directed by Mr. Ketan Bansal and Mr. Girraj Bansal. The company is based in Gwalior (M.P.). |
About the Group |
Om Shri Shubh labh group is based out of Gwalior (M.P.) is engaged in trading, repackaging of various FMCG products, processing of wheat flour and extraction of edible oil. It has four group companies- Om Shri Shubh labh Agrifresh Private Limited (OSSAF), Shri Paramsukh Edible Foods Private Limited (SPEF), B P Food Products Private Limited (BPF) and Om Shri Shubh labh Agritech Private Limited (OSSATL). SPEF is engaged in extraction of oil from mustard seeds and sells edible oil under the brand name 'Smart Wife'. BPF is engaged in processing of various wheat flour and sells the flour under its brand 'Double Trishul'. OSSATL is engaged in trading of agricultural produce, dry fruits, wheat, pulses, spices etc. under the brand name 'Smart Wife' and OSSAF is engaged in trading of agricultural produce, fruits and vegetables. |
Unsupported Rating |
Not Applicable |
Analytical Approach |
Extent of Consolidation |
•Full Consolidation |
Rationale for Consolidation or Parent / Group / Govt. Support |
Acuité has considered the consolidated business and financial risk profiles of Om Shri Shubh Labh Agritech Private Limited (OSSATL), Om Shri Shubh labh Agrifresh Private Limited (OSSAF), Shri Paramsukh Edible Foods Private Limited (SPEF) and B P Food Products Private Limited (BPF) to arrive at this rating. The consolidation is in view of the common management, strong operational linkages among the entities and the group is herein referred to as Om Shri Shubh Labh Group (OSSLG). |
Key Rating Drivers |
Strengths |
Long track record of operations with experienced management |
Weaknesses |
Delays in debt obligation servicing |
Rating Sensitivities |
Timely servicing of debt obligations. |
Liquidity Position |
Poor |
The liquidity profile of the group is poor marked by the account being found delinquent, as per the reporting in Credit Bureau Information Report. In addition, there have been delays in servicing of debt obligations for all the bank loan facilities of the group as confirmed over mail by the issuer. |
Outlook: Not Applicable |
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Other Factors affecting Rating |
None |
Particulars | Unit | FY 24 (Actual) | FY 23 (Actual) |
Operating Income | Rs. Cr. | 2214.54 | 1494.12 |
PAT | Rs. Cr. | 9.79 | 6.64 |
PAT Margin | (%) | 0.44 | 0.44 |
Total Debt/Tangible Net Worth | Times | 0.87 | 0.44 |
PBDIT/Interest | Times | 2.20 | 4.31 |
Status of non-cooperation with previous CRA (if applicable) |
Not Applicable |
Any Other Information |
None |
Applicable Criteria |
• Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm • Consolidation Of Companies: https://www.acuite.in/view-rating-criteria-60.htm • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm • Manufacturing Entities: https://www.acuite.in/view-rating-criteria-59.htm • Trading Entities: https://www.acuite.in/view-rating-criteria-61.htm |
Note on complexity levels of the rated instrument |
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*Annexure 2 - List of Entities (applicable for Consolidation or Parent / Group / Govt. Support) | ||||||||||
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Contacts |
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