REG - India CapitalGrwthFd - Net Asset Value

India Capital Growth FundAnnouncement

05/03/2026 14:15

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RNS Number : 5509V  India Capital Growth Fund Limited  05 March 2026

05 March 2026

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

Net Asset Value statement at 27 February 2026

The Company announces its Net Asset Value ("NAV") per ordinary share as at 27
February 2026 was 171.87 pence.

In February, the NAV was up 0.30% in Sterling terms, whilst the MSCI India
SMID Cap Index* was up 4.60%, delivering an underperformance against the
notional benchmark of 4.30%. In local currency terms, the NAV was down 2.75%.

The Company also announces its Net Asset Value per ordinary share before
Indian CGT (deferred tax provision) as at 27 February 2026 was 180.15 pence.

*As announced in the Circular and Notice of EGM issued on 20 February 2026,
the Company's benchmark is now the MSCI India SMID Cap Index with effect from
1 January 2026.

 

 Portfolio analysis by sector as at 27 February 2026

 Sector                                        No. of Companies           % of Portfolio
 Financial Banks                               4                          18.9%
 Industrials                                   6                          14.2%
 Consumer Staples                              4                          11.1%
 Consumer Discretionary                        3                          8.6%
 Auto & Auto Ancillary                         3                          7.9%
 Financial Services                            2                          6.5%
 Digital                                       2                          5.9%
 Healthcare                                    2                          5.4%
 IT Services                                   2                          5.2%
 Chemicals                                     2                          5.2%
 Cement                                        2                          5.1%
 Textiles                                      2                          2.9%
 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                         96.9%
 Cash & cash equivalents                                                  3.1%
 Total Portfolio                               34                         100.0%

 Top 20 holdings as at 27 February 2026

 Holding                                       Sector                     % of Portfolio
 RBL Bank                                      Financial Banks            5.6%
 Federal Bank                                  Financial Banks            5.1%
 Skipper                                       Industrials                4.9%
 Multi Commodity Exchange                      Financial Services         4.4%
 IDFC Bank                                     Financial Banks            4.2%
 City Union Bank                               Financial Banks            4.1%
 CCL Products India                            Consumer Staples           4.0%
 Affle India                                   Digital                    3.7%
 Sona BLW Precision Forgings                   Auto & Auto Ancillary      3.5%
 Neuland Laboratories                          Healthcare                 3.5%
 Emami                                         Consumer Staples           3.5%
 Dixon Technologies                            Consumer Discretionary     3.2%
 Essel Propack                                 Consumer Staples           3.2%
 Persistent Systems                            IT Services                3.2%
 JK Lakshmi Cement                             Cement                     3.0%
 Kajaria Ceramics                              Consumer Discretionary     3.0%
 Aether Industries                             Chemicals                  2.7%
 Atlanta Electricals                           Industrials                2.6%
 Ramkrishna Forgings                           Auto & Auto Ancillary      2.6%
 PI Industries                                 Chemicals                  2.4%

 Portfolio analysis by market capitalisation size as at 27 February 2026
                                               No. of Companies           % of Portfolio

 Market capitalisation size
 Small Cap (M/Cap < US$4.0bn)                  27                         72.4%
 Mid Cap (US$4.0bn < M/Cap < US$11.5bn)        7                          24.5%
 Large Cap (M/Cap > US$11.5bn)                 0                          0.0%
 Total Equity Investment                       34                         96.9%
 Net Cash                                                                 3.1%
 Total Portfolio                               34                         100.0%

 

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