Godavari Fertilisers & Chemicals was locked at 10% upper circuit of Rs 124 after it declared net profit of Rs 12.97 crore in Q1 June 2007. The fertilizer manufacturer announced the results during market hours today. Godavari Fertilizers is the tenth biggest Indian fertiliser company.

During the day, the intraday low of the scrip was Rs 111.25. The total number of shares traded during the day was 7971. The average daily volume of the stock in past one quarter stood at 950 shares.

The current equity capital of the company is Rs 32 crore, with 3.2 crore outstanding shares with a face value of Rs 10 per share. At existing price of Rs 124 the scrip trades at a PE multiple of 8.05, based on year ended March 2007 earning per share of Rs 15.40.

In the one month to 19 July 2007, the scrip profited 7.48% against Sensex’s 7.90% amplification. It had expended 9.11% in past three months against Sensex’s 11.89% jump.

On 29 January 2007, the stock had hit 52-week high of Rs 149.90 and 52-week low of Rs 50.15 on 24 July 2006.

Godavari Fertilisers recorded net profit of Rs 12.97 crore in Q1 June 2007 from loss of Rs 3.82 crore in Q1 June 2006. Sales came down 34.85% to Rs 172.97 crore in Q1 June 2007 over Q1 June 2006.