REG - India CapitalGrwthFd - Net Asset Value

India Capital Growth FundAnnouncement

06/10/2025 10:15

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RNS Number : 1954C  India Capital Growth Fund Limited  06 October 2025

06 October 2025

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

Net Asset Value statement at 30 September 2025

The Company announces its Net Asset Value ("NAV") per ordinary share as at 30
September 2025 was 179.70 pence.

In September, the NAV was down 0.56% in Sterling terms, whilst the BSE MidCap
TR Index was flat, delivering an underperformance against the notional
benchmark of 0.56%. In local currency terms, the NAV was up 0.09%.

The Company also announces its Net Asset Value per ordinary share before
Indian CGT (deferred tax provision) as at 30 September 2025 was 189.47 pence.

 

 Portfolio analysis by sector as at 30 September 2025

 Sector                                        No. of Companies           % of Portfolio
 Financial Banks                               5                          16.4%
 Industrials                                   7                          14.3%
 Consumer Discretionary                        4                          10.6%
 Consumer Staples                              4                          10.0%
 Auto & Auto Ancillary                         4                          7.3%
 Digital                                       2                          6.8%
 Healthcare                                    2                          6.6%
 Financial Services                            2                          6.3%
 IT Services                                   2                          5.0%
 Cement                                        2                          4.8%
 Chemicals                                     2                          3.7%
 Textiles                                      2                          3.6%
 Financial NBFC                                1                          1.5%
 Energy                                        0                          0.0%
 Metals                                        0                          0.0%
 Utilities                                     0                          0.0%
 Real Estate                                   0                          0.0%
 Total Equity Investment                       39                         97.0%
 Cash & cash equivalents                                                  3.0%
 Total Portfolio                               39                         100.0%

 Top 20 holdings as at 30 September 2025

 Holding                                       Sector                     % of Portfolio
 Skipper                                       Industrials                5.1%
 Dixon Technologies                            Consumer Discretionary     5.0%
 Neuland Laboratories                          Healthcare                 4.9%
 RBL Bank                                      Financial Banks            4.7%
 Multi Commodity Exchange                      Financial Services         4.7%
 Federal Bank                                  Financial Banks            4.3%
 Affle India                                   Digital                    3.9%
 Emami                                         Consumer Staples           3.5%
 IDFC Bank                                     Financial Banks            3.3%
 CCL Products India                            Consumer Staples           3.2%
 City Union Bank                               Financial Banks            3.2%
 Persistent Systems                            IT Services                3.1%
 Cartrade Technologies                         Digital                    2.9%
 JK Lakshmi Cement                             Cement                     2.8%
 VIP Industries                                Consumer Discretionary     2.5%
 Ramkrishna Forgings                           Auto & Auto Ancillary      2.2%
 Kajaria Ceramics                              Consumer Discretionary     2.2%
 PI Industries                                 Chemicals                  2.1%
 Sona BLW Precision Forgings                   Auto & Auto Ancillary      2.1%
 Essel Propack                                 Consumer Staples           2.1%

 Portfolio analysis by market capitalisation size as at 30 September 2025
                                               No. of Companies           % of Portfolio

 Market capitalisation size
 Small Cap (M/Cap < US$3.5bn)                  28                         67.0%
 Mid Cap (US$3.5bn < M/Cap < US$10.5bn)        9                          23.6%
 Large Cap (M/Cap > US$10.5bn)                 2                          6.4%
 Total Equity Investment                       39                         97.0%
 Net Cash                                                                 3.0%
 Total Portfolio                               39                         100.0%

 

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