India Capital Growth Fund
India Capital Growth Fund Limited is a close-ended equity mutual fund launched and managed by Ocean Dial Asset Management Limited. The fund invests in the public equity markets of India. It seeks to invest in stocks of companies operating across diversified sectors. The fund primarily invests in stocks of mid and small cap companies. It employs fundamental analysis with a bottom-up stock selectio… Read more
India Capital Growth Fund (IGC) - Net Assets
Latest net assets as of June 2025: GBX161.93 Million GBX
Based on the latest financial reports, India Capital Growth Fund (IGC) has net assets worth GBX161.93 Million GBX as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (GBX164.40 Million) and total liabilities (GBX2.47 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | GBX161.93 Million |
| % of Total Assets | 98.5% |
| Annual Growth Rate | 5.37% |
| 5-Year Change | 63.18% |
| 10-Year Change | 196.56% |
| Growth Volatility | 37.81 |
India Capital Growth Fund - Net Assets Trend (2006–2024)
This chart illustrates how India Capital Growth Fund's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for India Capital Growth Fund (2006–2024)
The table below shows the annual net assets of India Capital Growth Fund from 2006 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | GBX179.36 Million | +3.37% |
| 2023-12-31 | GBX173.50 Million | +28.35% |
| 2022-12-31 | GBX135.18 Million | -10.61% |
| 2021-12-31 | GBX151.23 Million | +37.59% |
| 2020-12-31 | GBX109.92 Million | +10.40% |
| 2019-12-31 | GBX99.56 Million | -12.94% |
| 2018-12-31 | GBX114.36 Million | -19.99% |
| 2017-12-31 | GBX142.93 Million | +42.25% |
| 2016-12-31 | GBX100.48 Million | +66.13% |
| 2015-12-31 | GBX60.48 Million | +8.60% |
| 2014-12-31 | GBX55.69 Million | +59.79% |
| 2013-12-31 | GBX34.85 Million | -9.22% |
| 2012-12-31 | GBX38.39 Million | +29.28% |
| 2011-12-31 | GBX29.70 Million | -46.44% |
| 2010-12-31 | GBX55.44 Million | +24.07% |
| 2009-12-31 | GBX44.69 Million | +38.99% |
| 2008-12-31 | GBX32.15 Million | -73.87% |
| 2007-12-31 | GBX123.04 Million | +75.98% |
| 2006-12-31 | GBX69.92 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to India Capital Growth Fund's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 38.7% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | GBX42.58 Million | 23.74% |
| Common Stock | GBX858.00K | 0.48% |
| Other Comprehensive Income | GBX135.92 Million | 75.78% |
| Other Components | GBX1.00 | 0.00% |
| Total Equity | GBX179.36 Million | 100.00% |
India Capital Growth Fund Competitors by Market Cap
The table below lists competitors of India Capital Growth Fund ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
HPI AG
MU:CEW3
|
$157.80 |
|
Chelverton UK Dividend Trust PLC
LSE:SDV
|
$158.16 |
|
Ibero Mining Corp.
V:IMC
|
$158.42 |
|
Bull Trading And Investment Ltd
TA:BULL
|
$158.54 |
|
SANTANDER UK 8 5/8% NON-CUM STLG PRF
LSE:SANB
|
$157.33 |
|
Synthesis Energy Systems Inc
PINK:SYNE
|
$157.00 |
|
Zim Corp
PINK:ZIMCF
|
$156.96 |
|
RA International Group
LSE:RAI
|
$156.58 |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in India Capital Growth Fund's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 173,502,000 to 179,357,000, a change of 5,855,000 (3.4%).
- Net income of 23,440,000 contributed positively to equity growth.
- Share repurchases of 29,038,000 reduced equity.
- New share issuances of 11,453,000 increased equity.
- Other comprehensive income increased equity by 24,862,999.
- Other factors decreased equity by 24,862,999.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | GBX23.44 Million | +13.07% |
| Share Repurchases | GBX29.04 Million | -16.19% |
| Share Issuances | GBX11.45 Million | +6.39% |
| Other Comprehensive Income | GBX24.86 Million | +13.86% |
| Other Changes | GBX-24.86 Million | -13.86% |
| Total Change | GBX- | 3.37% |
Book Value vs Market Value Analysis
This analysis compares India Capital Growth Fund's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 69.11x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 87.42x to 69.11x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2007-12-31 | GBX1.64 | GBX143.00 | x |
| 2008-12-31 | GBX0.43 | GBX143.00 | x |
| 2009-12-31 | GBX0.60 | GBX143.00 | x |
| 2010-12-31 | GBX0.74 | GBX143.00 | x |
| 2011-12-31 | GBX0.40 | GBX143.00 | x |
| 2012-12-31 | GBX0.51 | GBX143.00 | x |
| 2013-12-31 | GBX0.46 | GBX143.00 | x |
| 2014-12-31 | GBX742.66 | GBX143.00 | x |
| 2015-12-31 | GBX0.81 | GBX143.00 | x |
| 2016-12-31 | GBX1.12 | GBX143.00 | x |
| 2017-12-31 | GBX1.27 | GBX143.00 | x |
| 2018-12-31 | GBX1.02 | GBX143.00 | x |
| 2019-12-31 | GBX0.88 | GBX143.00 | x |
| 2020-12-31 | GBX0.98 | GBX143.00 | x |
| 2021-12-31 | GBX1.34 | GBX143.00 | x |
| 2022-12-31 | GBX1.39 | GBX143.00 | x |
| 2023-12-31 | GBX1.80 | GBX143.00 | x |
| 2024-12-31 | GBX2.07 | GBX143.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently India Capital Growth Fund utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 13.07%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 54.21%
- • Asset Turnover: 0.24x
- • Equity Multiplier: 1.02x
- Recent ROE (13.07%) is above the historical average (-7.72%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2007 | 43.18% | 85.16% | 0.48x | 1.07x | GBX40.82 Million |
| 2008 | -282.69% | 0.00% | -2.79x | 1.01x | GBX-94.10 Million |
| 2009 | 28.05% | 95.13% | 0.29x | 1.00x | GBX8.07 Million |
| 2010 | 19.40% | 93.83% | 0.21x | 1.00x | GBX5.21 Million |
| 2011 | -86.70% | 0.00% | -0.81x | 1.00x | GBX-28.72 Million |
| 2012 | 22.65% | 94.52% | 0.24x | 1.00x | GBX4.86 Million |
| 2013 | -10.15% | 0.00% | -0.09x | 1.01x | GBX-7.02 Million |
| 2014 | 37.42% | 98.07% | 0.38x | 1.00x | GBX15.27 Million |
| 2015 | 7.92% | 94.38% | 0.08x | 1.00x | GBX-1.26 Million |
| 2016 | 17.04% | 98.08% | 0.17x | 1.00x | GBX7.08 Million |
| 2017 | 29.70% | 97.74% | 0.30x | 1.00x | GBX28.16 Million |
| 2018 | -24.98% | 0.00% | -0.24x | 1.00x | GBX-40.00 Million |
| 2019 | -14.87% | 0.00% | -0.14x | 1.00x | GBX-24.76 Million |
| 2020 | 9.42% | 95.36% | 0.10x | 1.00x | GBX-638.50K |
| 2021 | 27.55% | 98.10% | 0.28x | 1.00x | GBX26.50 Million |
| 2022 | 2.79% | 82.89% | 0.03x | 1.00x | GBX-9.74 Million |
| 2023 | 22.25% | 95.77% | 0.23x | 1.01x | GBX21.26 Million |
| 2024 | 13.07% | 54.21% | 0.24x | 1.02x | GBX5.50 Million |
Industry Comparison
This section compares India Capital Growth Fund's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $395,694,700
- Average return on equity (ROE) among peers: -81.73%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| India Capital Growth Fund (IGC) | GBX161.93 Million | 43.18% | 0.02x | $157.46 |
| 3I Infrastructure PLC (3IN) | $1.09 Billion | 8.57% | 0.18x | $396.99K |
| 450 PLC (450) | $1.30 Million | -791.13% | 5.03x | $1.71K |
| abrdn Asian Income Fund Limited (AAIF) | $431.48 Million | 11.10% | 0.09x | $315.37 |
| Abrdn Asia Focus PLC (AAS) | $464.40 Million | -2.37% | 0.15x | $434.78 |
| Albion Technology & General VCT PLC (AATG) | $34.46 Million | 4.41% | 0.01x | $78.71 |
| Aberdeen Diversified Income and Growth Trust PLC (ADIG) | $492.42 Million | 0.00% | 0.32x | $16.61 |
| Aquila Energy Efficiency Trust PLC (AEET) | $97.38 Million | -0.64% | 0.00x | $2.38K |
| Aquila European Renewables Income PLC (AERI) | $320.23 Million | -9.29% | 0.00x | $2.45K |
| Artemis UK Future Leaders plc (AFL) | $84.35 Million | -40.52% | 0.02x | $401.26 |
| AVI Global Trust PLC (AGT) | $938.94 Million | 2.59% | 0.12x | $2.83 Million |