Net Asset Value
06 April 2023
India Capital Growth Fund Limited (the "Company" or "ICGF")
Net Asset Value statement at 31 March 2023
The Company announces its Net Asset Value ("NAV") per ordinary share as at 31 March 2023 was 129.45 pence.
In March, the NAV was down 2.13% in Sterling terms, whilst the BSE MidCap TR Index was down 2.54%, delivering an outperformance against the notional benchmark of 0.41%. In local currency terms, the NAV was up 0.10%.
The Company also announces its Net Asset Value per ordinary share before Indian CGT (deferred tax provision) as at 31 March 2023 was 133.25 pence.
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Portfolio analysis by sector as at 31 March 2023 |
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Sector |
No. of Companies |
% of Portfolio |
|
Financials |
6 |
25.1% |
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Materials |
7 |
17.6% |
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Industrials |
6 |
14.9% |
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Consumer Discretionary |
7 |
14.5% |
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Consumer Staples |
3 |
9.3% |
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Information Technology |
2 |
6.7% |
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Health Care |
1 |
3.6% |
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Communication Services |
1 |
2.8% |
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Real Estate |
0 |
0.0% |
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Energy |
0 |
0.0% |
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Utilities |
0 |
0.0% |
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Total Equity Investment |
33 |
94.4% |
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Cash & cash equivalents |
|
5.6% |
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Total Portfolio |
33 |
100.0% |
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Top 20 holdings as at 31 March 2023 |
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Holding |
Sector |
% of Portfolio |
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Federal Bank |
Financials |
7.3% |
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IDFC Bank |
Financials |
5.9% |
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Indusind Bank |
Financials |
4.9% |
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Ramkrishna Forgings |
Materials |
4.1% |
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Persistent Systems |
Information Technology |
3.8% |
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Neuland Laboratories |
Health Care |
3.6% |
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JK Lakshmi Cement |
Materials |
3.4% |
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PI Industries |
Materials |
3.3% |
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Emami |
Consumer Staples |
3.3% |
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CCL Products India |
Consumer Staples |
3.2% |
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City Union Bank |
Financials |
3.1% |
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Multi Commodity Exchange |
Financials |
2.9% |
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Tech Mahindra |
Information Technology |
2.9% |
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Jyothy Laboratories |
Consumer Staples |
2.8% |
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Balkrishna Industries |
Consumer Discretionary |
2.8% |
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Kajaria Ceramics |
Industrials |
2.8% |
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Affle India |
Communication Services |
2.8% |
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Uniparts India |
Industrials |
2.7% |
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Skipper |
Industrials |
2.6% |
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Dixon Technologies |
Consumer Discretionary |
2.6% |
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Portfolio analysis by market capitalisation size as at 31 March 2023 |
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Market capitalisation size |
No. of Companies |
% of Portfolio |
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Small Cap (M/Cap < US$2bn) |
17 |
47.6% |
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Mid Cap (US$2bn < M/Cap < US$8bn) |
14 |
39.0% |
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Large Cap (M/Cap > US$8bn) |
2 |
7.7% |
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Total Equity Investment |
33 |
94.4% |
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Net Cash |
|
5.6% |
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Total Portfolio |
33 |
100.0% |
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