Fair value MC of 100m. PE ratio of ~2.5m

This company has a annualised profit of 8m. (Not including extra contract wins)
This equates to PE if 2.5 roughly
Net equity is 13m not including the 1.8m increase in cash so say 15m~

MC 22m~

I don't normally start threads or post in stock threads but with a PE of 2.5~ is this the most undervalued stock ever?

T20 owns 65%
Directors are directors in other companies that share prices have gone up significantly last few weeks although this can be disregarded as the numbers are more important IMO

Fair value should be 100m MC minimum
Would love to see what I'm missing here