Thanks Adam.
It was indeed becoming a bit clunky. So I used the forminator_custom_form_submit_before_set_fields hook instead and got the data required as $form_data_array. It is pretty straight forward and gave me all the values that I required.
Just so it helps someone, I followed the instructions in this link https://www.ads-software.com/support/topic/forminator-api-submit-form/
Thanks a ton and keep up the good work. You may close this ticket.
Saugata.