India Capital Growth Fund Net Assets
India Capital Growth Fund net assets. Based on the latest financial reports, India Capital Growth Fund (IGC) has net assets worth GBX126.09 Million GBX (≈ $15.34K USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (GBX128.22 Million ≈ $15.60K USD) and total liabilities (GBX2.13 Million ≈ $258.92 USD). 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. Also explore how fast is India Capital Growth Fund growing its equity to track the company's year-over-year net asset growth rate.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | GBX126.09 Million |
| % of Total Assets | 98.34% |
| Annual Growth Rate | 3.15% |
| 5-Year Change | -16.62% |
| 10-Year Change | 25.49% |
| Growth Volatility | 38.07 |
Net Assets of India Capital Growth Fund (2006–2025)
Net assets of India Capital Growth Fund from 2006 to 2025. This chart illustrates how India Capital Growth Fund's net assets have evolved over time, based on quarterly financial data. See IGC equity financing ratio to measure how much of total assets are equity-financed.
Annual Net Assets for India Capital Growth Fund (2006–2025)
The table below shows the annual net assets of India Capital Growth Fund from 2006 to 2025. For live market cap and overall valuation, see India Capital Growth Fund (IGC) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | GBX126.09 Million ≈ $15.34K |
-29.70% |
| 2024-12-31 | GBX179.36 Million ≈ $21.82K |
+3.37% |
| 2023-12-31 | GBX173.50 Million ≈ $21.11K |
+28.35% |
| 2022-12-31 | GBX135.18 Million ≈ $16.45K |
-10.61% |
| 2021-12-31 | GBX151.23 Million ≈ $18.40K |
+37.59% |
| 2020-12-31 | GBX109.92 Million ≈ $13.37K |
+10.40% |
| 2019-12-31 | GBX99.56 Million ≈ $12.11K |
-12.94% |
| 2018-12-31 | GBX114.36 Million ≈ $13.91K |
-19.99% |
| 2017-12-31 | GBX142.93 Million ≈ $17.39K |
+42.25% |
| 2016-12-31 | GBX100.48 Million ≈ $12.23K |
+66.13% |
| 2015-12-31 | GBX60.48 Million ≈ $7.36K |
+8.60% |
| 2014-12-31 | GBX55.69 Million ≈ $6.78K |
+59.79% |
| 2013-12-31 | GBX34.85 Million ≈ $4.24K |
-9.22% |
| 2012-12-31 | GBX38.39 Million ≈ $4.67K |
+29.28% |
| 2011-12-31 | GBX29.70 Million ≈ $3.61K |
-46.44% |
| 2010-12-31 | GBX55.44 Million ≈ $6.75K |
+24.07% |
| 2009-12-31 | GBX44.69 Million ≈ $5.44K |
+38.99% |
| 2008-12-31 | GBX32.15 Million ≈ $3.91K |
-73.87% |
| 2007-12-31 | GBX123.04 Million ≈ $14.97K |
+75.98% |
| 2006-12-31 | GBX69.92 Million ≈ $8.51K |
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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 115.2% over the analyzed period, potentially due to dividend distributions or operating losses.
India Capital Growth Fund Net Assets Breakdown (December 2025)
India Capital Growth Fund net assets breakdown by equity component as of December 2025.
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | GBX673.00K | 0.53% |
| Other Comprehensive Income | GBX135.94 Million | 107.81% |
| Total Equity | GBX126.09 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 |
|---|---|
|
Foxtons Group Plc
LSE:FOXT
|
$1.32 Million |
|
Range International Ltd
AU:RAN
|
$1.33 Million |
|
Aptitude Software Group PLC
LSE:APTD
|
$1.33 Million |
|
LIQUID AVATAR TECHNO.INC.
F:4T5
|
$1.33 Million |
|
Vault Strategic Mining Corp.
V:KNOX
|
$1.32 Million |
|
MUZHU MINING LTD
F:Y33
|
$1.32 Million |
|
Nextgen
TA:NXGN
|
$1.32 Million |
|
Artelo Biosciences Inc
NASDAQ:ARTL
|
$1.31 Million |
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 2024 to 2025, total equity changed from 179,357,000 to 126,088,000, a change of -53,269,000 (-29.7%).
- Net loss of 19,657,000 reduced equity.
- Share repurchases of 33,612,000 reduced equity.
- Other comprehensive income increased equity by 20,001.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | GBX-19.66 Million | -15.59% |
| Share Repurchases | GBX33.61 Million | -26.66% |
| Other Comprehensive Income | GBX20.00K | +0.02% |
| Other Changes | GBX-20.00K | -0.02% |
| Total Change | GBX- | -29.70% |
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: 113.39x
- 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 increased from 103.32x to 113.39x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2007-12-31 | GBX1.64 | GBX169.00 | x |
| 2008-12-31 | GBX0.43 | GBX169.00 | x |
| 2009-12-31 | GBX0.60 | GBX169.00 | x |
| 2010-12-31 | GBX0.74 | GBX169.00 | x |
| 2011-12-31 | GBX0.40 | GBX169.00 | x |
| 2012-12-31 | GBX0.51 | GBX169.00 | x |
| 2013-12-31 | GBX0.46 | GBX169.00 | x |
| 2014-12-31 | GBX742.66 | GBX169.00 | x |
| 2015-12-31 | GBX0.81 | GBX169.00 | x |
| 2016-12-31 | GBX1.12 | GBX169.00 | x |
| 2017-12-31 | GBX1.27 | GBX169.00 | x |
| 2018-12-31 | GBX1.02 | GBX169.00 | x |
| 2019-12-31 | GBX0.88 | GBX169.00 | x |
| 2020-12-31 | GBX0.98 | GBX169.00 | x |
| 2021-12-31 | GBX1.34 | GBX169.00 | x |
| 2022-12-31 | GBX1.39 | GBX169.00 | x |
| 2023-12-31 | GBX1.80 | GBX169.00 | x |
| 2024-12-31 | GBX2.07 | GBX169.00 | x |
| 2025-12-31 | GBX1.49 | GBX169.00 | 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): -15.59%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -70.78%
- • Asset Turnover: 0.22x
- • Equity Multiplier: 1.02x
- Recent ROE (-15.59%) is below the historical average (-8.13%), suggesting potential challenges in 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 |
| 2025 | -15.59% | -70.78% | 0.22x | 1.02x | GBX-32.27 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: $779,959,000
- Average return on equity (ROE) among peers: 9.61%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| India Capital Growth Fund (IGC) | GBX126.09 Million | 43.18% | 0.02x | $1.32 Million |
| 3I Infrastructure PLC (3IN) | $1.05 Billion | 8.61% | 0.19x | $44.33 Million |
| Albion Enterprise VCT PLC (AAEV) | $34.66 Million | 4.31% | 0.01x | $3.20 Million |
| abrdn Asian Income Fund Limited (AAIF) | $134.84 Million | 12.81% | 0.12x | $4.98 Million |
| Abrdn Asia Focus PLC (AAS) | $441.01 Million | 6.12% | 0.13x | $6.75 Million |
| Albion Technology & General VCT PLC (AATG) | $127.32 Million | 3.41% | 0.01x | $3.06 Million |
| Abrdn PLC (ABDN) | $5.04 Billion | 4.70% | 0.53x | $48.69 Million |
| Aberdeen Diversified Income and Growth Trust PLC (ADIG) | $382.54 Million | 14.91% | 0.21x | $450.86K |
| Aquila Energy Efficiency Trust PLC (AEET) | $94.28 Million | 0.32% | 0.01x | $217.99K |
| Aquila European Renewables Income PLC (AERI) | $417.44 Million | 6.38% | 0.01x | $64.28 Million |
| Artemis UK Future Leaders plc (AFL) | $80.20 Million | 34.52% | 0.07x | $464.11 |
About 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