REG - India CapitalGrwthFd - Net Asset Value

India Capital Growth FundAnnouncement

Thu 13:30

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RNS Number : 5426G  India Capital Growth Fund Limited  06 November 2025

06 November 2025

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

Net Asset Value statement at 31 October 2025

The Company announces its Net Asset Value ("NAV") per ordinary share as at 31
October 2025 was 196.25 pence.

In October, the NAV was up 9.21% in Sterling terms, whilst the BSE MidCap TR
Index was up 7.15%, delivering an outperformance against the notional
benchmark of 2.06%. In local currency terms, the NAV was up 6.77%.

The Company also announces its Net Asset Value per ordinary share before
Indian CGT (deferred tax provision) as at 31 October 2025 was 208.25 pence.

 

 Portfolio analysis by sector as at 31 October 2025

 Sector                                        No. of Companies           % of Portfolio
 Financial Banks                               4                          17.0%
 Industrials                                   7                          14.3%
 Consumer Discretionary                        4                          9.7%
 Consumer Staples                              4                          9.5%
 Auto & Auto Ancillary                         4                          7.4%
 Digital                                       2                          7.0%
 Healthcare                                    2                          6.5%
 Financial Services                            2                          6.1%
 IT Services                                   2                          5.6%
 Cement                                        2                          4.4%
 Textiles                                      2                          3.8%
 Chemicals                                     2                          3.5%
 Financial NBFC                                1                          1.4%
 Energy                                        0                          0.0%
 Metals                                        0                          0.0%
 Utilities                                     0                          0.0%
 Real Estate                                   0                          0.0%
 Total Equity Investment                       38                         96.2%
 Cash & cash equivalents                                                  3.8%
 Total Portfolio                               38                         100.0%

 Top 20 holdings as at 31 October 2025

 Holding                                       Sector                     % of Portfolio
 RBL Bank                                      Financial Banks            5.2%
 Federal Bank                                  Financial Banks            4.9%
 Neuland Laboratories                          Healthcare                 4.9%
 Skipper                                       Industrials                4.8%
 Multi Commodity Exchange                      Financial Services         4.5%
 Dixon Technologies                            Consumer Discretionary     4.4%
 Affle India                                   Digital                    3.7%
 IDFC Bank                                     Financial Banks            3.6%
 Persistent Systems                            IT Services                3.6%
 Cartrade Technologies                         Digital                    3.3%
 Emami                                         Consumer Staples           3.3%
 City Union Bank                               Financial Banks            3.2%
 CCL Products India                            Consumer Staples           3.0%
 JK Lakshmi Cement                             Cement                     2.6%
 VIP Industries                                Consumer Discretionary     2.2%
 Sona BLW Precision Forgings                   Auto & Auto Ancillary      2.2%
 Kajaria Ceramics                              Consumer Discretionary     2.1%
 Ramkrishna Forgings                           Auto & Auto Ancillary      2.1%
 Essel Propack                                 Consumer Staples           2.1%
 Coforge                                       IT Services                2.0%

 Portfolio analysis by market capitalisation size as at 31 October 2025
                                               No. of Companies           % of Portfolio

 Market capitalisation size
 Small Cap (M/Cap < US$3.5bn)                  28                         66.6%
 Mid Cap (US$3.5bn < M/Cap < US$10.5bn)        8                          23.7%
 Large Cap (M/Cap > US$10.5bn)                 2                          5.8%
 Total Equity Investment                       38                         96.2%
 Net Cash                                                                 3.8%
 Total Portfolio                               38                         100.0%

 

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