Ann: Investor Presentation, page-24

In the first half, PPE's total billed hours were roughly 3.4M, resulting in $201M as revenue. This implies an hourly rate of $59.
Using this hourly rate and the total revenue of $176.4M in the 2nd half of FY20, we came to know that the total billed hours were 2.98M. The chart on slide 16 of the presentation shows that from Feb to June 2020, PPE billed 2.33M hours (116k/week in average) to their clients. That means in Jan 20 alone, they billed 650k hours, i.e.162K/week, suggesting the weekly hours during the pandemic (Feb-Jun) have dropped nearly 40% as compared to pre-Covid. This shows how badly PPE's business has been impacted by Covid.
In Jan. 21, the billed hours were 168K, indicating a minor increase of 3.7% on pcp, which is mostly organic, I assume.
Along with the roll-out of vaccine, starting from Feb, we should be able to see more significant top line growth.
I did a rough and purely arbitrary estimation on the weekly hours growth month by month for the 2nd half (see below). This resulted in a total revenue of $205M. Applying the 8.1% of EBITDA margin suggested by PPE for the 2nd half, we come to $16.6M in EBITDA. That means total EBITDA of $37.6M for FY21, up 22% on pcp. If we include the 2.5M of the newly acquired eCareer, the total EBITDA could be approaching $40M. With today's market cap, PPE is valued at 7-8 times EBITDA, which is a bargain for a good business with high ROE and ROIC.

	Weekly Billed Hours
	2H 20	2H 21	Growth
Jan	162,000	168,000	3.70%
Feb	130,000	143,000	10%
Mar	132,000	145,200	10%
Apr	100,000	130,000	30%
May	105,000	136,500	30%
Jun	115,000	143,750	25%
Total	744,000	866,450	16.46%
Total Billed Hours	2,976,000	3,465,800	16.46%
Total Rev	$176,353,429	$205,329,343	16.43%