Net Asset Value

India Capital Growth Fund Limited

05 May 2023

 

05 May 2023

India Capital Growth Fund Limited (the "Company" or "ICGF")

Net Asset Value statement at 28 April 2023

The Company announces its Net Asset Value ("NAV") per ordinary share as at 28 April 2023 was 137.02 pence.

In April, the NAV was up 5.85% in Sterling terms, whilst the BSE MidCap TR Index was up 5.79%, delivering an outperformance against the notional benchmark of 0.06%. In local currency terms, the NAV was up 6.01%.      

The Company also announces its Net Asset Value per ordinary share before Indian CGT (deferred tax provision) as at 28 April 2023 was 141.39 pence.

Portfolio analysis by sector as at 28 April 2023
Sector	No. of Companies	% of Portfolio
Financials	6	24.2%
Materials	7	17.8%
Consumer Discretionary	8	16.5%
Industrials	6	14.5%
Consumer Staples	3	9.1%
Information Technology	2	5.7%
Health Care	1	3.9%
Communication Services	1	2.5%
Real Estate	0	0.0%
Energy	0	0.0%
Utilities	0	0.0%
Total Equity Investment	34	94.2%
Cash & cash equivalents		5.8%
Total Portfolio	34	100.0%
Top 20 holdings as at 28 April 2023
Holding	Sector	% of Portfolio
Federal Bank	Financials	7.0%
IDFC Bank	Financials	6.2%
Indusind Bank	Financials	5.0%
Ramkrishna Forgings	Materials	4.2%
Neuland Laboratories	Health Care	3.9%
Persistent Systems	Information Technology	3.7%
PI Industries	Materials	3.5%
City Union Bank	Financials	3.3%
Emami	Consumer Staples	3.3%
JK Lakshmi Cement	Materials	3.1%
CCL Products India	Consumer Staples	3.1%
Skipper	Industrials	2.9%
Balkrishna Industries	Consumer Discretionary	2.8%
Sona BLW Precision Forgings	Consumer Discretionary	2.8%
Kajaria Ceramics	Industrials	2.7%
Jyothy Laboratories	Consumer Staples	2.7%
Welspun India	Consumer Discretionary	2.6%
Uniparts India	Industrials	2.6%
Dixon Technologies	Consumer Discretionary	2.5%
Affle India	Communication Services	2.5%
Portfolio analysis by market capitalisation size as at 28 April 2023
Market capitalisation size	No. of Companies	% of Portfolio
Small Cap (M/Cap < US$2bn)	17	44.4%
Mid Cap (US$2bn < M/Cap < US$8bn)	14	41.6%
Large Cap (M/Cap > US$8bn)	3	8.1%
Total Equity Investment	34	94.2%
Net Cash		5.8%
Total Portfolio	34	100.0%

 

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