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RNS Number : 5748L India Capital Growth Fund Limited 06 September 2023
06 September 2023
India Capital Growth Fund Limited (the "Company" or "ICGF")
Net Asset Value statement at 31 August 2023
The Company announces its Net Asset Value ("NAV") per ordinary share as at 31
August 2023 was 165.38 pence.
In August, the NAV was up 5.81% in Sterling terms, whilst the BSE MidCap TR
Index was up 3.39%, delivering an outperformance against the notional
benchmark of 2.42%. In local currency terms, the NAV was up 5.14%.
The Company also announces its Net Asset Value per ordinary share before
Indian CGT (deferred tax provision) as at 31 August 2023 was 172.84 pence.
Portfolio analysis by sector as at 31 August 2023
Sector No. of Companies % of Portfolio
Financials 7 23.5%
Consumer Discretionary 8 18.3%
Materials 7 16.7%
Industrials 6 15.0%
Consumer Staples 3 9.8%
Information Technology 2 5.2%
Health Care 1 3.8%
Communication Services 1 2.6%
Real Estate 0 0.0%
Energy 0 0.0%
Utilities 0 0.0%
Total Equity Investment 35 94.9%
Cash & cash equivalents 5.1%
Total Portfolio 35 100.0%
Top 20 holdings as at 31 August 2023
Holding Sector % of Portfolio
IDFC Bank Financials 6.0%
Federal Bank Financials 5.9%
Ramkrishna Forgings Materials 5.3%
Indusind Bank Financials 4.7%
Skipper Industrials 4.1%
Emami Consumer Staples 3.9%
Neuland Laboratories Health Care 3.8%
Dixon Technologies Consumer Discretionary 3.4%
Jyothy Laboratories Consumer Staples 3.4%
Persistent Systems Information Technology 3.3%
Sona BLW Precision Forgings Consumer Discretionary 3.3%
PI Industries Materials 3.0%
Kajaria Ceramics Industrials 2.9%
Welspun India Consumer Discretionary 2.9%
Affle India Communication Services 2.6%
VIP Industries Consumer Discretionary 2.6%
JK Lakshmi Cement Materials 2.6%
CCL Products India Consumer Staples 2.5%
Balkrishna Industries Consumer Discretionary 2.4%
Uniparts India Industrials 2.3%
Portfolio analysis by market capitalisation size as at 31 August 2023
No. of Companies % of Portfolio
Market capitalisation size
Small Cap (M/Cap < US$2bn) 17 45.4%
Mid Cap (US$2bn < M/Cap < US$8bn) 15 41.8%
Large Cap (M/Cap > US$8bn) 3 7.7%
Total Equity Investment 35 94.9%
Net Cash 5.1%
Total Portfolio 35 100.0%
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