Net Asset Value

India Capital Growth Fund Limited

05 December 2024

 

05 December 2024

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

Net Asset Value statement at 29 November 2024

The Company announces its Net Asset Value ("NAV") per ordinary share as at 29 November 2024 was 211.84 pence.

In November, the NAV was up 3.18% in Sterling terms, whilst the BSE MidCap TR Index was up 1.71%, delivering an outperformance against the notional benchmark of 1.47%. In local currency terms, the NAV was up 1.77%.

The Company also announces its Net Asset Value per ordinary share before Indian CGT (deferred tax provision) as at 29 November 2024 was 226.16 pence.

Portfolio analysis by sector as at 29 November 2024
Sector	No. of Companies	% of Portfolio
Financial Banks	5	15.4%
Industrials	6	13.3%
Consumer Discretionary	5	13.1%
Auto & Auto Ancillary	4	10.1%
Consumer Staples	4	9.8%
Healthcare	2	7.6%
Chemicals	2	4.9%
Digital	2	4.8%
Textiles	2	4.4%
Cement	2	4.0%
IT Services	1	4.0%
Financial Services	1	3.8%
Financial NBFC	1	1.0%
Energy	0	0.0%
Metals	0	0.0%
Utilities	0	0.0%
Real Estate	0	0.0%
Total Equity Investment	37	96.1%
Cash & cash equivalents		3.9%
Total Portfolio	37	100.0%
Top 20 holdings as at 29 November 2024
Holding	Sector	% of Portfolio
Federal Bank	Financial Banks	5.7%
Neuland Laboratories	Healthcare	5.7%
Skipper	Industrials	5.3%
Dixon Technologies	Consumer Discretionary	5.3%
Persistent Systems	IT Services	4.0%
Emami	Consumer Staples	3.9%
Ramkrishna Forgings	Auto & Auto Ancillary	3.9%
Multi Commodity Exchange	Financial Services	3.8%
PI Industries	Chemicals	3.2%
Sona BLW Precision Forgings	Auto & Auto Ancillary	3.1%
Affle India	Digital	3.0%
IDFC Bank	Financial Banks	2.8%
VIP Industries	Consumer Discretionary	2.8%
CCL Products India	Consumer Staples	2.8%
RBL Bank	Financial Banks	2.5%
City Union Bank	Financial Banks	2.4%
JK Lakshmi Cement	Cement	2.3%
PSP Projects	Industrials	2.3%
Welspun India	Textiles	2.2%
Gokaldas Exports	Textiles	2.1%
Portfolio analysis by market capitalisation size as at 29 November 2024
Market capitalisation size	No. of Companies	% of Portfolio
Small Cap (M/Cap < US$2bn)	19	39.4%
Mid Cap (US$2bn < M/Cap < US$8bn)	14	44.5%
Large Cap (M/Cap > US$8bn)	4	12.3%
Total Equity Investment	37	96.1%
Net Cash		3.9%
Total Portfolio	37	100.0%

 

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