Net Asset Value
05 April 2024
India Capital Growth Fund Limited (the "Company" or "ICGF")
Net Asset Value statement at 28 March 2024
The Company announces its Net Asset Value ("NAV") per ordinary share as at 28 March 2024 was 177.06 pence.
In March, the NAV was down 4.20% in Sterling terms, whilst the BSE MidCap TR Index was down 0.24%, delivering an underperformance against the notional benchmark of 3.96%. In local currency terms, the NAV was down 3.97%.
The Company also announces its Net Asset Value per ordinary share before Indian CGT (deferred tax provision) as at 28 March 2024 was 185.23 pence.
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Portfolio analysis by sector as at 28 March 2024 |
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Sector |
No. of Companies |
% of Portfolio |
|
Financials |
7 |
22.2% |
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Consumer Discretionary |
8 |
21.5% |
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Industrials |
7 |
14.2% |
|
Materials |
5 |
14.2% |
|
Consumer Staples |
3 |
8.1% |
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Health Care |
3 |
7.3% |
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Information Technology |
2 |
5.7% |
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Communication Services |
1 |
2.6% |
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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 |
36 |
95.9% |
|
Cash & cash equivalents |
|
4.1% |
|
Total Portfolio |
36 |
100.0% |
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Top 20 holdings as at 28 March 2024 |
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Holding |
Sector |
% of Portfolio |
|
Federal Bank |
Financials |
5.3% |
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Dixon Technologies |
Consumer Discretionary |
5.2% |
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Skipper |
Industrials |
4.3% |
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Neuland Laboratories |
Health Care |
4.2% |
|
Sona BLW Precision Forgings |
Consumer Discretionary |
4.0% |
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IDFC Bank |
Financials |
3.8% |
|
Indusind Bank |
Financials |
3.8% |
|
PI Industries |
Materials |
3.7% |
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Persistent Systems |
Information Technology |
3.7% |
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Ramkrishna Forgings |
Materials |
3.7% |
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RBL Bank |
Financials |
3.5% |
|
Emami |
Consumer Staples |
3.4% |
|
JK Lakshmi Cement |
Materials |
3.2% |
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VIP Industries |
Consumer Discretionary |
3.0% |
|
Ashok Leyland |
Industrials |
2.9% |
|
Welspun India |
Consumer Discretionary |
2.7% |
|
Affle India |
Communication Services |
2.6% |
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Multi Commodity Exchange |
Financials |
2.5% |
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CCL Products India |
Consumer Staples |
2.5% |
|
Kajaria Ceramics |
Industrials |
2.4% |
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Portfolio analysis by market capitalisation size as at 28 March 2024 |
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Market capitalisation size |
No. of Companies |
% of Portfolio |
|
Small Cap (M/Cap < US$2bn) |
20 |
48.2% |
|
Mid Cap (US$2bn < M/Cap < US$8bn) |
13 |
40.6% |
|
Large Cap (M/Cap > US$8bn) |
3 |
7.0% |
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Total Equity Investment |
36 |
95.9% |
|
Net Cash |
|
4.1% |
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Total Portfolio |
36 |
100.0% |
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