BackPatanjali Foods share price gains 5%: CQG Partners raises stake to 11.48% during Q4 from 3.3% at the end of Q3
Stock Market Today: Patanjali Foods share price gained 5.2% on Tuesday. The CQG Partners Funds have increased stake in Patanjali Foods to 11.48% during Q4FY24 from 3.3% at the end of Q3 . The CQG Partners Funds have regularly been increasing stakes from 3.25% at the end of Q2 and 2.73% at Q1 end.
PremiumPatanjali Foods share price gained 5.2% on Tuesday. The shareholding pattern on the exchanges showed that CQG Partners Funds have increased their stake in Patanjali Foods to 11.38% during Q4.
As per the shareholding patterns on the exchanges, GQG Partners Emerging markets equity fund A Series of GQG Partners Series LLC held 9.31% stake in PatanJali Foods at the end of March 2024 quarter (Q4 FY24). At the end of December'23 quarter (Q3FY24) GQG Partners Emerging markets equity fund A Series held 2.08% stake in Patanjali Foods.
GQG Partners Emerging Markets Equity Fund also held another 2.07% stake at the end of March 2024 quarter (Q4FY24). The holding was also raised from 1.22% stake held by the fund in Patanjali Foods at the end of December' 2023 quarter.
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Overall GQG Partners funds have increased stake in Patanjali Foods to 11.48% at the end of March'2024 quarter from 3.3% at the end of December'2023 quarter.
The GQG Partners funds have regularly been increasing stakes in Patanjali Foods during earlier quarters too. The holding at the end of September 23 quarter (Q2FY24) by GQG Partners funds in Patanjali Foods stood at 3.25% which were higher than 2.73% held by GQG Partners funds at the end of Q1.
Meanwhile Patanjali foods also had reported strong Quarterly updates recently. The company's quarterly performance was stable and driven by good results in the Food & FMCG and Edible Oil segments also did reasonably well.
The Food & FMCG segment's revenue held strong in the March quarter, with high single-digit growth and steady Ebitda margins.
More than 30% of operating revenue came from the Food & FMCG segment, up from about 23% in Q4 of FY23. The segment's contribution was significantly higher than Q1'FY24, at almost 25%, and stayed consistent with Q3'FY24 and Q2'FY24 at about 32%.
In Q4, revenue from the Edible Oil segment increased by a modest single digit percentage over the previous quarter, though the Ebitda margin was positive as well.
In addition, the segmental volume increased by mid-single digits in Q4 compared to FY24's double-digit rise.
The GQG Partners Emerging Markets Equity Fund on the other hand held
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