The EPS of the core business (without the tax assets, which is NOT a cash inflow) is less than 1Rs/share for FY17. Even if I assume phenomenal growth in FY18, EPS can go to say 2-2.5 including the 27.5 cr from the P&G settlement. For a low margin, manufacturing outsourcing business, a reasonable PE would be 12-15. Even optimistically, if one applies a PE of 20, the FY18 end price could be 40-50.
Given that the CMP is already higher, the chances of a significant upmove seems unlikely.
Disclosure: Currently, invested.