Savita Oil Technologies: Undervalued midcap in a competitive space?

1. See Note 22 in the annual report for the breakdown (pg 130). Interest includes forex losses, bank charges, etc.

2. My assumption is that these transactions are related to the acquisition of Savita Polymers in 21-22. Savita Polymers was a promotor controlled entity.

I have a long position in Savita OIl for some time. Most people assume that it is in the same area as Castrol in the competitive B2C engine oil markets whereas it is only a minor portion of its business. It has also done buybacks in the past and likely to do again.