Last checked at 
6 Dec 2022 09:19
06 December 2022
India Capital Growth Fund Limited (the "Company" or "ICGF")
Net Asset Value statement at 30 November 2022
The Company announces its Net Asset Value ("NAV") per ordinary share as at 30 November 2022 was 141.43 pence.
In November, the NAV was up 1.37% in Sterling terms, whilst the BSE MidCap TR Index was up 0.18%, delivering an outperformance against the notional benchmark of 1.19%. In local currency terms, the NAV was up 3.72%.
The Company also announces its Net Asset Value per ordinary share before Indian CGT (deferred tax provision) as at 30 November 2022 was 146.18 pence.
Portfolio analysis by sector as at 30 November 2022 | ||
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Sector | No. of Companies | % of Portfolio |
Financials | 6 | 26.3% |
Materials | 7 | 18.2% |
Consumer Discretionary | 7 | 15.0% |
Industrials | 5 | 12.0% |
Consumer Staples | 3 | 9.9% |
Information Technology | 3 | 7.4% |
Health Care | 2 | 3.6% |
Communication Services | 1 | 3.4% |
Real Estate | 0 | 0.0% |
Energy | 0 | 0.0% |
Utilities | 0 | 0.0% |
Total Equity Investment | 34 | 95.8% |
Cash & cash equivalents | 4.2% | |
Total Portfolio | 34 | 100.0% |
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Top 20 holdings as at 30 November 2022 | ||
Holding | Sector | % of Portfolio |
Federal Bank | Financials | 6.9% |
IDFC Bank | Financials | 6.0% |
Indusind Bank | Financials | 5.1% |
Ramkrishna Forgings | Materials | 4.7% |
City Union Bank | Financials | 4.5% |
Emami | Consumer Staples | 4.2% |
Persistent Systems | Information Technology | 3.9% |
PI Industries | Materials | 3.6% |
Affle India | Communication Services | 3.4% |
Neuland Laboratories | Health Care | 3.3% |
Balkrishna Industries | Consumer Discretionary | 3.1% |
Multi Commodity Exchange | Financials | 3.0% |
Kajaria Ceramics | Industrials | 2.9% |
JK Lakshmi Cement | Materials | 2.9% |
CCL Products India | Consumer Staples | 2.9% |
Jyothy Laboratories | Consumer Staples | 2.9% |
Skipper | Industrials | 2.7% |
Tech Mahindra | Information Technology | 2.7% |
Bajaj Electricals | Consumer Discretionary | 2.5% |
Sagar Cements | Materials | 2.5% |
Portfolio analysis by market capitalisation size as at 30 November 2022 | ||
Market capitalisation size | No. of Companies | % of Portfolio |
Small Cap (M/Cap < US$2bn) | 16 | 41.5% |
Mid Cap (US$2bn < M/Cap < US$8bn) | 16 | 46.6% |
Large Cap (M/Cap > US$8bn) | 2 | 7.7% |
Total Equity Investment | 34 | 95.8% |
Net Cash | 4.2% | |
Total Portfolio | 34 | 100.0% |