punished, page-21

The P/E ratio calculation problematic. The ratio of 1.62 has been calculated by the formula: (Market Capitalisation)/(annual volume x average basket price).

The denominator used is GROSS REVENUE. But the proper way of calculating P/E is to use either pre-tax or post-tax NET PROFIT.

NET PROFIT for LYC is likely to be much smaller than the GROSS REVENUE you have used, given the high costs in transportation, storage and processing.

This means that the denominator of the P/E ratio would be much smaller, thus the ACTUAL P/E would be many multiples larger than your P/E calculation of 1.62.