Godavari Fertilisers & Chemicals gained 10% to Rs 124 in afternoon trading after reporting solid gains in first quarter, which stood at Rs 12.97 crore. The fertilizer manufacturer announced the results in market hours today, 20 July 2007.

During the day, the scrip touched a low of Rs 111.25, and 7971 shares were traded on the BSE counter. In the last three months, the stock showed average daily volume of 950 shares on BSE.

The company’s equity capital 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, which is based on year ended March 2007 earning per share (EPS) of Rs 15.40.

In the one month to 19 July 2007, the scrip profited 7.48% against Sensex’s 7.90% growth. It dangled 9.11% in last one quarter as against Sensex’s 11.89% advancement. On 29 January 2007, the stock hit 52-week high of Rs 149.90 and 52-week low of Rs 50.15 on 24 July 2006.

In Q1 June 2007, the company declared net profit of Rs 12.97 crore versus loss of Rs 3.82 crore in Q1 June 2006. Sales moved down 34.85% to Rs 172.97 crore in Q1 June 2007 over Q1 June 2006.