6th Oct 2026 11:21
06 October 2026
India Capital Growth Fund Limited (the "Company" or "ICGF")
Net Asset Value statement at 30 September 2026
The Company announces its Net Asset Value ("NAV") per ordinary share as at 30 September 2026 was 196.85 pence.
In September, the NAV was down 1.73% in Sterling terms, whilst the MSCI India SMID Cap Index was down 4.03%, delivering an outperformance against the notional benchmark of 2.30%. In local currency terms, the NAV was down 3.32%.
The Company also announces its Net Asset Value per ordinary share before Indian CGT (deferred tax provision) as at 30 September 2026 was 209.21 pence.
Portfolio analysis by sector as at 30 September 2026 | ||
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Sector | No. of Companies | % of Portfolio |
Financial Banks | 4 | 17.2% |
Industrials | 8 | 15.2% |
Consumer Staples | 4 | 9.8% |
Consumer Discretionary | 3 | 8.8% |
Auto & Auto Ancillary | 3 | 8.7% |
Financial Services | 2 | 7.5% |
IT Services | 2 | 5.8% |
Digital | 2 | 5.8% |
Healthcare | 2 | 5.3% |
Chemicals | 2 | 5.0% |
Textiles | 2 | 3.2% |
Cement | 2 | 3.2% |
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 | 36 | 95.5% |
Cash & cash equivalents | 4.5% | |
Total Portfolio | 36 | 100.0% |
Top 20 holdings as at 30 September 2026 | ||
Holding | Sector | % of Portfolio |
RBL Bank | Financial Banks | 5.6% |
Skipper | Industrials | 5.5% |
Multi Commodity Exchange | Financial Services | 5.1% |
IDFC Bank | Financial Banks | 4.0% |
Federal Bank | Financial Banks | 3.9% |
Dixon Technologies | Consumer Discretionary | 3.9% |
City Union Bank | Financial Banks | 3.7% |
Sona BLW Precision Forgings | Auto & Auto Ancillary | 3.4% |
Aether Industries | Chemicals | 3.4% |
Neuland Laboratories | Healthcare | 3.4% |
Kajaria Ceramics | Consumer Discretionary | 3.3% |
Essel Propack | Consumer Staples | 3.2% |
Coforge | IT Services | 3.2% |
Affle India | Digital | 3.0% |
Cartrade Technologies | Digital | 2.8% |
Uniparts India | Auto & Auto Ancillary | 2.8% |
CCL Products India | Consumer Staples | 2.8% |
Persistent Systems | IT Services | 2.6% |
Ramkrishna Forgings | Auto & Auto Ancillary | 2.5% |
Emami | Consumer Staples | 2.5% |
Portfolio analysis by market capitalisation size as at 30 September 2026 | ||
Market capitalisation size | No. of Companies | % of Portfolio |
Small Cap (M/Cap < US$3.5bn) | 27 | 62.2% |
Mid Cap (US$3.5bn < M/Cap < US$11.0bn) | 9 | 33.2% |
Large Cap (M/Cap > US$11.0bn) | 0 | 0.0% |
Total Equity Investment | 36 | 95.5% |
Net Cash | 4.5% | |
Total Portfolio | 36 | 100.0% |
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Related Shares:
India Cap