A2M 0.54% $5.53 the a2 milk company limited

What is difference btw lactose free milk and A2M milk, page-18

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    How do you get $1.67?

    I get the following and please correct me if I am incorrect.
    BAL P/E 75 (Rounded from Etade)
    A2M based on 22m (updated 2016 guidance and $500m MC) P/E 22
    so a factor of 3.4 to give the same P/E SP would be $3.55 and a 1.7B MC (0.5B more than BAL)
 
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