Press Release

Press Release

October 01, 2025

OM SHRI SHUBH LABH AGRITECH PRIVATE LIMITED
Rating Downgraded and Reaffirmed

Product	Quantum (Rs. Cr)	Long Term Rating	Short Term Rating
Bank Loan Ratings	36.00	ACUITE C \| Reaffirmed	-
Bank Loan Ratings	64.00	ACUITE D \| Downgraded	-
Total Outstanding	100.00	-	-
Total Withdrawn	0.00	-	-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.64.00 crore bank facilities of Om Shri Shubh Labh Agritech Private Limited. Further, Acuite has reaffirmed its long term rating of 'ACUITE C' (read as ACUITE C) on the Rs.36.00 crore bank facilities of Om Shri Shubh Labh Agritech Private Limited.

Rationale for downgrade
The rating action takes into cognizance the mail received from the lender stating accounts being categorized as Non-Performing Asset (NPA) as on June, 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 Agritech Private Limited was incorporated in 2017. The company is based in Gwalior (M.P). The company is engaged in trading of wheat, chana, pulses, rice, mustard, various types of wheat flour & other commodities. Present directors of the company are Mr. Girraj Bansal and Mr. Ketan Bansal.

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
The account is categorized as Non-Performing Asset (NPA) as on June, 2025, as per the mail received from the lender. 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 categorized as Non-Performing Asset (NPA) as on June, 2025, as per the mail received from the lender. 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

Key Financials

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

In order to inform the investors about complexity of instruments, Acuité has categorized such instruments in three levels: Simple, Complex and Highly Complex. Acuite’s categorisation of the instruments across the three categories is based on factors like variability of the returns to the investors, uncertainty in cash flow patterns, number of counterparties and general understanding of the instrument by the market. It has to be understood that complexity is different from credit risk and even an instrument categorized as 'Simple' can carry high levels of risk. For more details, please refer Rating Criteria “Complexity Level Of Financial Instruments” on www.acuite.in.

Rating History

Date	Name of Instruments/Facilities	Term	Amount (Rs. Cr)	Rating/Outlook
21 May 2025	Cash Credit	Long Term	25.00	ACUITE C (Downgraded from ACUITE BBB- \| Stable)
	Warehouse Receipt Financing	Long Term	19.00	ACUITE C (Downgraded from ACUITE BBB- \| Stable)
	Cash Credit	Long Term	20.00	ACUITE C (Downgraded from ACUITE BBB- \| Stable)
	Proposed Long Term Bank Facility	Long Term	36.00	ACUITE C (Downgraded from ACUITE BBB- \| Stable)
03 Oct 2024	Cash Credit	Long Term	25.00	ACUITE BBB- \| Stable (Reaffirmed)
	Warehouse Receipt Financing	Long Term	19.00	ACUITE BBB- \| Stable (Reaffirmed)
	Proposed Long Term Bank Facility	Long Term	36.00	ACUITE BBB- \| Stable (Reaffirmed)
	Cash Credit	Long Term	20.00	ACUITE BBB- \| Stable (Reaffirmed)
16 Aug 2023	Warehouse Receipt Financing	Long Term	15.00	ACUITE BBB- \| Stable (Reaffirmed)
	Proposed Long Term Bank Facility	Long Term	21.00	ACUITE BBB- \| Stable (Reaffirmed)
	Cash Credit	Long Term	20.00	ACUITE BBB- \| Stable (Reaffirmed)
	Cash Credit	Long Term	12.50	ACUITE BBB- \| Stable (Reaffirmed)
	Cash Credit	Long Term	12.50	ACUITE BBB- \| Stable (Reaffirmed)
	Warehouse Receipt Financing	Long Term	19.00	ACUITE BBB- \| Stable (Reaffirmed)
30 Jan 2023	Cash Credit	Long Term	12.50	ACUITE BBB- \| Stable (Downgraded from ACUITE BBB \| Stable)
	Cash Credit	Long Term	12.50	ACUITE BBB- \| Stable (Downgraded from ACUITE BBB \| Stable)
	Warehouse Receipt Financing	Long Term	19.00	ACUITE BBB- \| Stable (Downgraded from ACUITE BBB \| Stable)
	Warehouse Receipt Financing	Long Term	15.00	ACUITE BBB- \| Stable (Downgraded from ACUITE BBB \| Stable)
	Proposed Long Term Bank Facility	Long Term	41.00	ACUITE BBB- \| Stable (Downgraded from ACUITE BBB \| Stable)
28 Oct 2022	Cash Credit	Long Term	12.50	ACUITE BBB \| Stable (Reaffirmed)
	Cash Credit	Long Term	12.50	ACUITE BBB \| Stable (Assigned)
	Warehouse Receipt Financing	Long Term	19.00	ACUITE BBB \| Stable (Assigned)
	Warehouse Receipt Financing	Long Term	15.00	ACUITE BBB \| Stable (Assigned)
	Proposed Long Term Bank Facility	Long Term	41.00	ACUITE BBB \| Stable (Assigned)
22 Jun 2022	Cash Credit	Long Term	12.50	ACUITE BBB \| Stable (Assigned)

Annexure - Details of instruments rated

Lender’s Name	ISIN	Facilities	Date Of Issuance	Coupon Rate	Maturity Date	Quantum (Rs. Cr.)	Complexity Level	Rating
Bank of Baroda	Not avl. / Not appl.	Cash Credit	Not avl. / Not appl.	Not avl. / Not appl.	Not avl. / Not appl.	25.00	Simple	ACUITE D \| Downgraded ( from ACUITE C )
Union Bank of India	Not avl. / Not appl.	Cash Credit	Not avl. / Not appl.	Not avl. / Not appl.	Not avl. / Not appl.	20.00	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.	36.00	Simple	ACUITE C \| Reaffirmed
Bank of Baroda	Not avl. / Not appl.	Warehouse Receipt Financing	Not avl. / Not appl.	Not avl. / Not appl.	Not avl. / Not appl.	19.00	Simple	ACUITE D \| Downgraded ( from ACUITE C )

*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

Contacts

Mohit Jain
Chief Analytical Officer - Rating Operations

Archita Sharma
Associate Analyst - Rating Operations

Contact details exclusively for investors and lenders

Mob: +91 8591310146
Email ID: analyticalsupport@acuite.in

About Acuité Ratings & Research

Acuité is a full-service Credit Rating Agency registered with the Securities & Exchange Board of India (SEBI). The company received RBI Accreditation as an External Credit Assessment Institution (ECAI) for Bank Loan Ratings under BASEL-II norms in the year 2012. Acuité has assigned ratings to various securities, debt instruments and bank facilities of entities spread across the country and across a wide cross section of industries. It has its Registered and Head Office in Kanjurmarg, Mumbai.

Disclaimer: An Acuité rating does not constitute an audit of the rated entity and should not be treated as a recommendation or opinion that is intended to substitute for a financial adviser's or investor's independent assessment of whether to buy, sell or hold any security. Ratings assigned by Acuité are based on the data and information provided by the issuer and obtained from other reliable sources. Although reasonable care has been taken to ensure that the data and information is true, Acuité, in particular, makes no representation or warranty, expressed or implied with respect to the adequacy, accuracy or completeness of the information relied upon. Acuité is not responsible for any errors or omissions and especially states that it has no financial liability whatsoever for any direct, indirect or consequential loss of any kind, arising from the use of its ratings. Ratings assigned by Acuité are subject to a process of surveillance which may lead to a revision in ratings as and when the circumstances so warrant. Please visit our website (www.acuite.in) for the latest information on any instrument rated by Acuité. Please visit https://www.acuite.in/faqs.htm to refer FAQs on Credit Rating.

Note: None of the Directors on the Board of Acuité Ratings & Research Limited are members of any rating committee and therefore do not participate in discussions regarding the rating of any entity.