If annualized 0.83 * 2 = Rs. 1.66
PE = 7.50 /1.66 = 4.5 times
This is certainly undervalued. It might go above 10/= within months.
People who didn't buy this wanted the price to come down but this is trading at a very attractive price now.
December quarter will be very good one for them due to excessive rain falls.