REG - India CapitalGrwthFd - Net Asset Value

India Capital Growth FundAnnouncement

Wed 14:30

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RNS Number : 0375O  India Capital Growth Fund Limited  07 January 2026

07 January 2026

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

Net Asset Value statement at 31 December 2025

The Company announces its Net Asset Value ("NAV") per ordinary share as at 31
December 2025 was 187.29 pence.

In December, the NAV was down 3.92% in Sterling terms, whilst the BSE MidCap
TR Index was down 2.81%, delivering an underperformance against the notional
benchmark of 1.11%. In local currency terms, the NAV was down 1.69%.

The Company also announces its Net Asset Value per ordinary share before
Indian CGT (deferred tax provision) as at 31 December 2025 was 198.34 pence.

 

 Portfolio analysis by sector as at 31 December 2025

 Sector                                        No. of Companies           % of Portfolio
 Financial Banks                               4                          18.9%
 Industrials                                   6                          14.2%
 Consumer Staples                              4                          10.7%
 Consumer Discretionary                        3                          8.2%
 Digital                                       2                          7.5%
 Financial Services                            2                          7.4%
 Auto & Auto Ancillary                         3                          6.8%
 Healthcare                                    2                          6.2%
 IT Services                                   2                          6.2%
 Cement                                        2                          5.1%
 Chemicals                                     2                          4.5%
 Textiles                                      2                          3.0%
 Financial NBFC                                0                          0.0%
 Energy                                        0                          0.0%
 Metals                                        0                          0.0%
 Utilities                                     0                          0.0%
 Real Estate                                   0                          0.0%
 Total Equity Investment                       34                         98.8%
 Cash & cash equivalents                                                  1.2%
 Total Portfolio                               34                         100.0%

 Top 20 holdings as at 31 December 2025

 Holding                                       Sector                     % of Portfolio
 Multi Commodity Exchange                      Financial Services         5.2%
 Federal Bank                                  Financial Banks            5.1%
 Skipper                                       Industrials                5.1%
 RBL Bank                                      Financial Banks            5.0%
 IDFC Bank                                     Financial Banks            4.4%
 Affle India                                   Digital                    4.3%
 Neuland Laboratories                          Healthcare                 4.3%
 City Union Bank                               Financial Banks            4.3%
 Persistent Systems                            IT Services                3.8%
 Emami                                         Consumer Staples           3.6%
 CCL Products India                            Consumer Staples           3.4%
 Dixon Technologies                            Consumer Discretionary     3.3%
 Cartrade Technologies                         Digital                    3.2%
 JK Lakshmi Cement                             Cement                     3.0%
 Sona BLW Precision Forgings                   Auto & Auto Ancillary      2.9%
 Essel Propack                                 Consumer Staples           2.9%
 Kajaria Ceramics                              Consumer Discretionary     2.5%
 Coforge                                       IT Services                2.4%
 VIP Industries                                Consumer Discretionary     2.3%
 PI Industries                                 Chemicals                  2.3%

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

 Market capitalisation size
 Small Cap (M/Cap < US$3.5bn)                  27                         72.2%
 Mid Cap (US$3.5bn < M/Cap < US$10.5bn)        6                          22.8%
 Large Cap (M/Cap > US$10.5bn)                 1                          3.8%
 Total Equity Investment                       34                         98.8%
 Net Cash                                                                 1.2%
 Total Portfolio                               34                         100.0%

 

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