Net Asset Value

India Capital Growth Fund Limited

06 July 2023

 

06 July 2023

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

Net Asset Value statement at 30 June 2023

The Company announces its Net Asset Value ("NAV") per ordinary share as at 30 June 2023 was 150.68 pence.

In June, the NAV was up 4.52% in Sterling terms, whilst the BSE MidCap TR Index was up 5.24%, delivering an underperformance against the notional benchmark of 0.72%. In local currency terms, the NAV was up 5.67%.  

The Company also announces its Net Asset Value per ordinary share before Indian CGT (deferred tax provision) as at 30 June 2023 was 156.56 pence.

Portfolio analysis by sector as at 30 June 2023
Sector	No. of Companies	% of Portfolio
Financials	6	22.7%
Materials	7	18.2%
Consumer Discretionary	8	18.0%
Industrials	6	14.3%
Consumer Staples	3	9.1%
Information Technology	2	5.5%
Health Care	1	3.9%
Communication Services	1	3.0%
Real Estate	0	0.0%
Energy	0	0.0%
Utilities	0	0.0%
Total Equity Investment	34	94.7%
Cash & cash equivalents		5.3%
Total Portfolio	34	100.0%
Top 20 holdings as at 30 June 2023
Holding	Sector	% of Portfolio
IDFC Bank	Financials	6.1%
Federal Bank	Financials	5.8%
Indusind Bank	Financials	5.3%
Ramkrishna Forgings	Materials	5.0%
Neuland Laboratories	Health Care	3.9%
PI Industries	Materials	3.6%
Skipper	Industrials	3.6%
Persistent Systems	Information Technology	3.5%
Dixon Technologies	Consumer Discretionary	3.3%
Emami	Consumer Staples	3.3%
Sona BLW Precision Forgings	Consumer Discretionary	3.2%
CCL Products India	Consumer Staples	3.1%
Affle India	Communication Services	3.0%
JK Lakshmi Cement	Materials	2.9%
Kajaria Ceramics	Industrials	2.8%
Balkrishna Industries	Consumer Discretionary	2.7%
Jyothy Laboratories	Consumer Staples	2.7%
City Union Bank	Financials	2.7%
Bajaj Electricals	Consumer Discretionary	2.5%
Welspun India	Consumer Discretionary	2.4%
Portfolio analysis by market capitalisation size as at 30 June 2023
Market capitalisation size	No. of Companies	% of Portfolio
Small Cap (M/Cap < US$2bn)	17	45.0%
Mid Cap (US$2bn < M/Cap < US$8bn)	14	41.1%
Large Cap (M/Cap > US$8bn)	3	8.6%
Total Equity Investment	34	94.7%
Net Cash		5.3%
Total Portfolio	34	100.0%

 

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