Elite Pharmaceuticals Inc (ELTP)

[Sankarad1]

That translates to $0.82 - $0.1.04 over 1 billion shares.

During these years, company's revenue increased by 10 times (??) to $180 million (May be more than 10 times)
The company has been far more profitable, with a lot more possibilities in pipeline.

This should translate into SP increase by 150% JMHO. This translates to a mean value of about $2.30
Add some 30% premium keeping in view all future possibilities (it ought to be more). This ought to bring the valuation to about $3.00 on the conservative side JMHO

Please note that this is purely hypothetical calculation. Just some logical guessing of numbers.