Ann: FY18 Results Presentation, page-4

Can someone explain how TTI is so cheap? It's a $16m MC that earns $6.1m NPAT/year and growing exponentially in a sector that is currently booming in Australia (infrastructure).

It's P/E ratio is like less than 2x.

I'm close to investing in TTI, but would love someone to give me unbiased reasons as to why I shouldn't, or at least why it's priced the way it is. The only thing I can see is the debt level, but this is entirely manageable and with interest rates so low, is a smart/cheap option compared to CRs.

Thanks