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Total Withdrawn 0.00 - -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.

Rationale for downgrade
The rating action takes into
cognizance the reporting in the Credit Bureau Information Report wherein the account has been found delinquent and is categorized as Sub-Standard for the month of August and September, 2025. Additionally, the rating also takes into account the confirmation received from the issuer while submitting No Default Statement (NDS) for the month of August, 2025 stating delays in servicing of debt obligations for all the bank loan facilities of the group, subsequent to NCLT Order dated 5th May, 2025 for Corporate Insolvency Resolution Process (CIRP) and appointment of Interim Resolution Professional (IRP) concerning its group entity, Om Shri Shubh Labh Agritech 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
OSSLG is based out of Madhya Pradesh and the group is promoted by Mr. Girraj Bansal who has been engaged in the FMCG industry for more than a decade. The extensive experience of the promoters has helped the group to establish long and healthy relationships with reputed customers and suppliers over the years. Acuité believes that the promoter's experience is expected to support the business risk profile of the group over the medium term.


Weaknesses

­Delays in debt obligation servicing
As per the reporting in Credit Bureau Information Report, the account is found delinquent and is categorized as Sub-Standard for the month of August and September, 2025. Further, subsequent to NCLT Order dated 5th May, 2025 for Corporate Insolvency Resolution Process and appointment of Interim Resolution Professional concerning its group entity, Om Shri Shubh Labh Agritech Private Limited, 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.

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
­
 
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

Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook
21 May 2025 Cash Credit Long Term 6.00 ACUITE C (Downgraded from ACUITE BBB- | Stable)
Proposed Long Term Bank Facility Long Term 9.00 ACUITE C (Downgraded from ACUITE BBB- | Stable)
03 Oct 2024 Cash Credit Long Term 6.00 ACUITE BBB- | Stable (Assigned)
Proposed Long Term Bank Facility Long Term 9.00 ACUITE BBB- | Stable (Assigned)
­

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum
(Rs. Cr.)
Complexity Level Rating
Bank of Maharashtra Not avl. / Not appl. Cash Credit Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 6.00 Simple ACUITE D | Downgraded ( from ACUITE C )
Not Applicable Not avl. / Not appl. Proposed Long Term Bank Facility Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 9.00 Simple ACUITE C | Reaffirmed
­
*Annexure 2 - List of Entities (applicable for Consolidation or Parent / Group / Govt. Support)
Sr no. Company Name
1 B P Food Products Private Limited
2 Om Shri Shubh Labh Agrifresh Private Limited
3 Shri Paramsukh Edible Foods Private Limited
4 Om Shri Shubh Labh Agritech Private Limited
­
 

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