Efficient market doesn't work in isolation

Superficially, if BSE were to be in line with the market averages, their price should be $0.43 according to P/E at this point in time, $0.63 according to P/E at 30/06/2017 and $1.78 based on P/E at 30/06/2018 (very simple approach).

Getting off the BSE optimism band wagon for just a moment, what is holding back the markets perception of BSE?