SAVITA OIL TECHNOLOGIES LTD.

Mr. Nandkishore Mehra, along with his father Mr. Devichand Mehra founded Savita in 1961. They have setup Savita’s first manufacturing unit at Sakinaka, Mumbai in 1961 to manufacture liquid paraffin as an import substitute. This was soon followed by the production of petroleum jelly in 1965. Then a year later, Savita built its second manufacturing unit at Turbhe, on the out-skirts of Mumbai for the manufacture of petroleum specialties. IN 1976, Savita’s Research and Development Department was setup to be the first of its kind in the private sector oil industry in India to be recognized by the Government of India’s Department of Science and Technology. Portfolio of the company: 1. Transformer Oil.2. White Oil and Liquid paraffin.3. Lubricating Oil4. Petroleum jellies5. Oxidises Waxes and Wax emulsions The financials of the company is good, but company has shown decline since FY20, RoNW is 16.36 % and at CMP its looks fairly priced. Price difference is around 26%. As per current share-holding, expected retail acceptance ratio will be around 3% and so final acceptance ratio may be around 10% and buyback profit 3%. So we give NEUTRAL rating to this buyback and who are holding this stock before announcement of buyback, may participate in buyback depending on market price.