NIPPON INDIA SMALL CAP FUND

Nippon India Mutual FundEquityPortfolio as of 30 September 2026

NIPPON INDIA SMALL CAP FUND holds 259 instruments (97.38% equity), led by TD POWER SYSTEMS LTD (1.88%), Bharat Heavy Electricals Limited (1.77%) and HDFC Bank Limited (1.75%), as of its 30 September 2026 SEBI-mandated monthly disclosure.

Holdings

259

Equity Allocation

97.38%

AMC

Nippon India Mutual Fund

Portfolio Analysis

NIPPON INDIA SMALL CAP FUND's top 10 holdings account for 14.54% of its portfolio, more diversified than the Equity category average of 37%. Industrials is its largest sector exposure at 23.52% of net assets, spread across 13 sectors in total. Since its 31 August 2026 disclosure, the fund added 2 new positions and exited 0 positions, with Escorts Kubota Limited seeing the largest move (+0.45pp to 0.59%).

Sector Breakdown

Equity holdings grouped by sector, % to NAV. "Other" covers debt, cash and other non-equity instruments, plus any equity holding without a classified sector.

Industrials

23.52%

Consumer Discretionary

19.47%

Financial Services

16.67%

Consumer Staples

9.2%

Healthcare

9.05%

Materials

8.74%

Utilities

3.8%

Information Technology

2.73%

Other

2.62%

Services

1.62%

Energy

0.83%

Real Estate

0.77%

Telecommunication

0.62%

Diversified

0.36%

Top 10 Equity Holdings

TD POWER SYSTEMS LTD · 1.88%Bharat Heavy Electricals Limited · 1.77%HDFC Bank Limited · 1.75%Apar Industries Limited · 1.74%Acme Solar Holdings Limited · 1.33%Karur Vysya Bank Limited · 1.28%Sai Life Sciences Limited · 1.24%Sundram Fasteners Limited · 1.2%State Bank of India · 1.19%Elantas Beck India Limited · 1.16%

What Changed: August 2026 → September 2026

Equity holdings compared between the fund's two latest monthly disclosures. Weights are % to NAV; weight moves can also reflect price changes, not only buying or selling.

2 new entries10 increased3 reduced

New Entries

Tata Steel Limited · 0.16%KARAMTARA ENGINEERING LTD · 0.06%

Biggest Weight Increases

Stock	Weight	Change
Escorts Kubota Limited	0.14% → 0.59%	▲ +0.45
Hindustan Unilever Limited	0.69% → 1.05%	▲ +0.36
Kotak Mahindra Bank Limited	0.43% → 0.67%	▲ +0.24
Elantas Beck India Limited	0.95% → 1.16%	▲ +0.21
Acme Solar Holdings Limited	1.19% → 1.33%	▲ +0.14
RHI MAGNESITA INDIA LIMITED	0.09% → 0.21%	▲ +0.12
Mtar Technologies Limited	0.81% → 0.92%	▲ +0.11
Kirloskar Oil Engines Limited	0.86% → 0.97%	▲ +0.11
Raymond Limited	0.09% → 0.19%	▲ +0.1
Whirlpool of India Limited	0.78% → 0.88%	▲ +0.1

Biggest Weight Reductions

Stock	Weight	Change
Jio Financial Services Limited	0.42% → 0.19%	▼ -0.23
Tube Investments of India Limited	0.84% → 0.73%	▼ -0.11
Pfizer Limited	0.68% → 0.58%	▼ -0.1

Top Holdings — Weight Trend

% to NAV of the fund's current top holdings over its last 6 monthly disclosures (Apr – Sept 2026).

TD POWER SYSTEMS LTD

1.88%

Bharat Heavy Electricals Limited

1.77%

HDFC Bank Limited

1.75%

Apar Industries Limited

1.74%

Acme Solar Holdings Limited

1.33%

Full Portfolio (259 holdings)

#	Holding	Sector	% to NAV
1	Triparty Repotreps	—	2.68%
2	TD POWER SYSTEMS LTD	Industrials	1.88%
3	Bharat Heavy Electricals Limited	Industrials	1.77%
4	HDFC Bank Limited	Financial Services	1.75%
5	Apar Industries Limited	Industrials	1.74%
6	Acme Solar Holdings Limited	Utilities	1.33%
7	Karur Vysya Bank Limited	Financial Services	1.28%
8	Sai Life Sciences Limited	Healthcare	1.24%
9	Sundram Fasteners Limited	Consumer Discretionary	1.2%
10	State Bank of India	Financial Services	1.19%
11	Elantas Beck India Limited	Materials	1.16%
12	Multi Commodity Exchange of India Limited	Financial Services	1.14%
13	Avalon Technologies Limited	Industrials	1.1%
14	Zydus Wellness Limited	Consumer Staples	1.09%
15	Hindustan Unilever Limited	Consumer Staples	1.05%
16	Kirloskar Brothers Limited	Industrials	0.99%
17	Kirloskar Oil Engines Limited	Industrials	0.97%
18	Mtar Technologies Limited	Industrials	0.92%
19	Balrampur Chini Mills Limited	Consumer Staples	0.91%
20	Axis Bank Limited	Financial Services	0.91%
21	NLC India Limited	Utilities	0.89%
22	Whirlpool of India Limited	Consumer Discretionary	0.88%
23	Union Bank of India	Financial Services	0.87%
24	Voltamp Transformers Limited	Industrials	0.83%
25	Emami Limited	Consumer Staples	0.79%
26	eClerx Services Limited	Industrials	0.78%
27	Craftsman Automation Limited	Consumer Discretionary	0.77%
28	Aster DM Healthcare Limited	Healthcare	0.76%
29	Paradeep Phosphates Limited	Materials	0.75%
30	Ajanta Pharma Limited	Healthcare	0.75%
31	Tube Investments of India Limited	Consumer Discretionary	0.73%
32	TBO Tek Limited	Consumer Discretionary	0.71%
33	Radico Khaitan Limited	Consumer Staples	0.69%
34	KIRLOSKAR PNEUMATIC CO LTD	Industrials	0.69%
35	Kotak Mahindra Bank Limited	Financial Services	0.67%
36	PNB Housing Finance Limited	Financial Services	0.66%
37	Gland Pharma Limited	Healthcare	0.66%
38	Central Mine Planning & Design Institute Limited	Industrials	0.65%
39	Lumax Auto Technologies Limited	Consumer Discretionary	0.64%
40	Carborundum Universal Limited	Industrials	0.63%
41	Kalpataru Projects International Limited	Industrials	0.62%
42	Asahi India Glass Limited	Consumer Discretionary	0.6%
43	Dixon Technologies (India) Limited	Consumer Discretionary	0.6%
44	Syngene International Limited	Healthcare	0.6%
45	Omnitech Engineering Limited	Industrials	0.6%
46	Escorts Kubota Limited	Consumer Staples	0.59%
47	AWL Agri Business Limited	Consumer Staples	0.58%
48	Navin Fluorine International Limited	Materials	0.58%
49	Coal India Limited	Energy	0.58%
50	Esab India Limited	Industrials	0.58%
51	Pfizer Limited	Healthcare	0.58%
52	BlueStone Jewellery and Lifestyle Limited	Consumer Discretionary	0.57%
53	Krishna Institute of Medical Sciences Limited	Healthcare	0.56%
54	Rategain Travel Technologies Limited	Information Technology	0.56%
55	Vardhman Textiles Limited	Consumer Discretionary	0.56%
56	HDFC Life Insurance Company Limited	Financial Services	0.55%
57	Orkla India Limited	Consumer Staples	0.54%
58	Finolex Cables Limited	Industrials	0.54%
59	Timken India Limited	Industrials	0.54%
60	The Ramco Cements Limited	Materials	0.53%
61	MAS Financial Services Limited	Financial Services	0.53%
62	Delhivery Limited	Services	0.53%
63	Aditya Birla Sun Life AMC Limited	Financial Services	0.52%
64	AstraZeneca Pharma India Limited	Healthcare	0.51%
65	Hindustan Aeronautics Limited	Industrials	0.5%
66	Fine Organic Industries Limited	Materials	0.5%
67	PVR INOX Limited	Consumer Discretionary	0.5%
68	Physicswallah Limited	Consumer Discretionary	0.5%
69	Sona BLW Precision Forgings Limited	Consumer Discretionary	0.49%
70	Isgec Heavy Engineering Limited	Industrials	0.49%
71	Affle 3i Limited	Information Technology	0.48%
72	Procter & Gamble Health Limited	Healthcare	0.48%
73	Sansera Engineering Limited	Consumer Discretionary	0.47%
74	K.P.R. Mill Limited	Consumer Discretionary	0.47%
75	Shadowfax Technologies Limited	Services	0.47%
76	Gokaldas Exports Limited	Consumer Discretionary	0.46%
77	Astra Microwave Products Limited	Industrials	0.45%
78	RBL Bank Limited	Financial Services	0.45%
79	Galaxy Surfactants Limited	Materials	0.45%
80	Grindwell Norton Limited	Industrials	0.45%
81	Bajaj Consumer Care Limited	Consumer Staples	0.45%
82	United Spirits Limited	Consumer Staples	0.44%
83	Poonawalla Fincorp Limited	Financial Services	0.44%
84	Jubilant Foodworks Limited	Consumer Discretionary	0.44%
85	TATA CONSUMER PRODUCTS LIMITED	Consumer Staples	0.43%
86	Century Plyboards (India) Limited	Consumer Discretionary	0.43%
87	REC Limited	Financial Services	0.43%
88	ICRA Limited	Financial Services	0.42%
89	TSF INVESTMENTS LIMITED	Financial Services	0.42%
90	Kfin Technologies Limited	Financial Services	0.41%
91	Central Depository Services (India) Limited	Financial Services	0.4%
92	Crompton Greaves Consumer Electricals Limited	Consumer Discretionary	0.39%
93	City Union Bank Limited	Financial Services	0.38%
94	Billionbrains Garage Ventures Limited	Financial Services	0.38%
95	Sudarshan Chemical Industries Limited	Materials	0.38%
96	Blue Star Limited	Consumer Discretionary	0.38%
97	Healthcare Global Enterprises Limited	Healthcare	0.38%
98	Cyient Limited	Information Technology	0.38%
99	eMudhra Limited	Information Technology	0.38%
100	Allied Blenders and Distillers Limited	Consumer Staples	0.37%
101	Orient Electric Limited	Consumer Discretionary	0.37%
102	Persistent Systems Limited	Information Technology	0.36%
103	The Indian Hotels Company Limited	Consumer Discretionary	0.36%
104	Vedanta Aluminium Metal Limited	Diversified	0.36%
105	ION Exchange (India) Limited	Utilities	0.36%
106	NTPC Green Energy Limited	Utilities	0.36%
107	Deepak Nitrite Limited	Materials	0.35%
108	Adani Ports and Special Economic Zone Limited	Services	0.35%
109	Samvardhana Motherson International Limited	Consumer Discretionary	0.34%
110	Pine Labs Limited	Financial Services	0.34%
111	Thyrocare Technologies Limited	Healthcare	0.34%
112	Tata Power Company Limited	Utilities	0.34%
113	Aarti Industries Limited	Materials	0.33%
114	Voltas Limited	Consumer Discretionary	0.33%
115	JUNIPER GREEN ENERGY LTD	Utilities	0.33%
116	Vindhya Telelinks Limited	Telecommunication	0.32%
117	Dr. Lal Path Labs Ltd.	Healthcare	0.32%
118	Ambuja Cements Limited	Materials	0.31%
119	Linde India Limited	Materials	0.31%
120	Godrej Agrovet Limited	Consumer Staples	0.31%
121	Metropolis Healthcare Limited	Healthcare	0.31%
122	NIIT Learning Systems Limited	Consumer Discretionary	0.31%
123	West Coast Paper Mills Limited	Materials	0.31%
124	Bharat Electronics Limited	Industrials	0.3%
125	Jtekt India Limited	Consumer Discretionary	0.3%
126	CARE Ratings Limited	Financial Services	0.3%
127	Clean Science and Technology Limited	Materials	0.3%
128	Power Finance Corporation Limited	Financial Services	0.3%
129	Torrent Pharmaceuticals Limited	Healthcare	0.3%
130	Tejas Networks Limited	Telecommunication	0.3%
131	Belrise Industries Limited	Consumer Discretionary	0.29%
132	Exide Industries Limited	Consumer Discretionary	0.29%
133	Kajaria Ceramics Limited	Consumer Discretionary	0.29%
134	Data Patterns (India) Limited	Industrials	0.28%
135	JSW Cement Limited	Materials	0.28%
136	Birla Corporation Limited	Materials	0.28%
137	Styrenix Performance Materials Limited	Materials	0.28%
138	TTK Prestige Limited	Consumer Discretionary	0.28%
139	Sapphire Foods India Limited	Consumer Discretionary	0.28%
140	V.S.T Tillers Tractors Limited	Consumer Staples	0.27%
141	LIC Housing Finance Limited	Financial Services	0.26%
142	Jindal Saw Limited	Industrials	0.26%
143	Leela Palaces Hotels & Resorts Limited	Consumer Discretionary	0.26%
144	Genus Power Infrastructures Limited	Industrials	0.25%
145	Bayer Cropscience Limited	Materials	0.25%
146	Jyothy Labs Limited	Consumer Staples	0.25%
147	Lemon Tree Hotels Limited	Consumer Discretionary	0.25%
148	Castrol India Limited	Energy	0.25%
149	CIE Automotive India Limited	Consumer Discretionary	0.24%
150	RITES Limited	Industrials	0.24%
151	Harsha Engineers International Limited	Industrials	0.24%
152	Aditya Birla Real Estate Limited	Real Estate	0.24%
153	Schaeffler India Limited	Consumer Discretionary	0.23%
154	Vedanta Limited	Materials	0.22%
155	Premier Energies Limited	Industrials	0.22%
156	Sun Pharmaceutical Industries Limited	Healthcare	0.22%
157	Afcons Infrastructure Limited	Industrials	0.21%
158	PG Electroplast Limited	Consumer Discretionary	0.21%
159	Chambal Fertilizers & Chemicals Limited	Materials	0.21%
160	Narayana Hrudayalaya Ltd.	Healthcare	0.21%
161	Honda India Power Products Limited	Industrials	0.21%
162	Kaynes Technology India Limited	Industrials	0.21%
163	RHI MAGNESITA INDIA LIMITED	Industrials	0.21%
164	Aditya Birla Lifestyle Brands Limited	Consumer Discretionary	0.21%
165	Piramal Finance Limited	Financial Services	0.2%
166	ZF Commercial Vehicle Control Systems India Limited	Consumer Discretionary	0.19%
167	LG Balakrishnan & Bros Limited	Consumer Discretionary	0.19%
168	Sumitomo Chemical India Limited	Materials	0.19%
169	Aavas Financiers Limited	Financial Services	0.19%
170	Jio Financial Services Limited	Financial Services	0.19%
171	MILKY MIST DAIRY FOOD LTD	Consumer Staples	0.19%
172	Praj Industries Limited	Industrials	0.19%
173	Texmaco Rail & Engineering Limited	Industrials	0.19%
174	Raymond Limited	Industrials	0.19%
175	CESC Limited	Utilities	0.19%
176	Sandhar Technologies Limited	Consumer Discretionary	0.18%
177	Landmark Cars Limited	Consumer Discretionary	0.18%
178	Vinati Organics Limited	Materials	0.18%
179	Indigo Paints Limited	Consumer Discretionary	0.18%
180	LMW Limited	Industrials	0.18%
181	Sanofi India Limited	Healthcare	0.18%
182	FDC Limited	Healthcare	0.18%
183	DLF Limited	Real Estate	0.18%
184	Max Estates Limited	Real Estate	0.18%
185	Seamec Limited	Services	0.18%
186	Sharda Motor Industries Limited	Consumer Discretionary	0.17%
187	Divgi Torqtransfer Systems Limited	Consumer Discretionary	0.17%
188	DOMS Industries Limited	Consumer Staples	0.17%
189	KPIT Technologies Limited	Information Technology	0.17%
190	Elgi Equipments Limited	Industrials	0.17%
191	Brigade Enterprises Limited	Real Estate	0.17%
192	Bharat Dynamics Limited	Industrials	0.16%
193	Automotive Axles Limited	Consumer Discretionary	0.16%
194	UTI Asset Management Company Limited	Financial Services	0.16%
195	Computer Age Management Services Limited	Financial Services	0.16%
196	Fujiyama Power Systems Limited	Industrials	0.16%
197	Tata Steel Limited	Materials	0.16%
198	CREDITACCESS GRAMEEN LIMITED	Financial Services	0.16%
199	Venus Pipes & Tubes Limited	Industrials	0.16%
200	Can Fin Homes Limited	Financial Services	0.15%
201	Vesuvius India Limited	Industrials	0.15%
202	Cyient DLM Limited	Industrials	0.14%
203	Mishra Dhatu Nigam Limited	Industrials	0.14%
204	Canara Robeco Asset Management Company Limited	Financial Services	0.14%
205	Just Dial Limited	Consumer Discretionary	0.14%
206	Swiggy Limited	Consumer Discretionary	0.14%
207	Bajel Projects Limited	Industrials	0.13%
208	Rainbow Childrens Medicare Limited	Healthcare	0.13%
209	Zensar Technologies Limited	Information Technology	0.13%
210	Sanofi Consumer Healthcare India Limited	Healthcare	0.13%
211	Piramal Pharma Limited	Healthcare	0.13%
212	Equitas Small Finance Bank Limited	Financial Services	0.12%
213	H.G. Infra Engineering Limited	Industrials	0.12%
214	G R Infraprojects Limited	Industrials	0.12%
215	Greenlam Industries Limited	Consumer Discretionary	0.12%
216	Bajaj Electricals Limited	Consumer Discretionary	0.12%
217	Triveni Turbine Limited	Industrials	0.12%
218	Rishabh Instruments Limited	Industrials	0.12%
219	NIIT Limited	Consumer Discretionary	0.12%
220	Inox Wind Limited	Industrials	0.11%
221	Saatvik Green Energy Limited	Industrials	0.11%
222	Campus Activewear Limited	Consumer Discretionary	0.1%
223	India Shelter Finance Corporation Limited	Financial Services	0.1%
224	Sonata Software Limited	Information Technology	0.1%
225	BIRLASOFT LIMITED	Information Technology	0.1%
226	ICICI Prudential Life Insurance Company Limited	Financial Services	0.1%
227	Arvind Limited	Consumer Discretionary	0.1%
228	Asian Paints Limited	Consumer Discretionary	0.09%
229	Kirloskar Ferrous Industries Limited	Materials	0.09%
230	Polyplex Corporation Limited	Industrials	0.09%
231	Urban Company Limited	Consumer Discretionary	0.09%
232	SHIPROCKET LTD	Services	0.09%
233	Archean Chemical Industries Limited	Materials	0.08%
234	Fineotex Chemical Limited	Materials	0.08%
235	Hatsun Agro Product Limited	Consumer Staples	0.08%
236	Subros Limited	Industrials	0.08%
237	Indoco Remedies Limited	Healthcare	0.08%
238	Vedant Fashions Limited	Consumer Discretionary	0.08%
239	Sanathan Textiles Limited	Consumer Discretionary	0.08%
240	KEC International Limited	Industrials	0.07%
241	Protean eGov Technologies Limited	Information Technology	0.07%
242	JK Lakshmi Cement Limited	Materials	0.06%
243	Pokarna Limited	Consumer Discretionary	0.06%
244	KARAMTARA ENGINEERING LTD	Industrials	0.06%
245	LASER POWER & INFRA LTD	Industrials	0.06%
246	AUGMONT ENTERPRISES LTD	Materials	0.06%
247	Go Fashion (India) Limited	Consumer Discretionary	0.06%
248	PNC Infratech Limited	Industrials	0.05%
249	Astec LifeSciences Limited	Materials	0.05%
250	Stanley Lifestyles Limited	Consumer Discretionary	0.04%
251	TEMPSENS INSTRUMENTS INDIA L	Industrials	0.04%
252	Studds Accessories Limited	Consumer Discretionary	0.03%
253	LOHIA CORP LTD	Industrials	0.03%
254	CMR Green Technologies Limited	Industrials	0.03%
255	Raymond Lifestyle Limited	Consumer Discretionary	0.03%
256	KUSUMGAR LTD	Consumer Discretionary	0.02%
257	Cash Margin - CCILother	—	0.02%
258	GENUS PRIME INFRA LIMITED	Materials	0.01%
259	Net Current Assetsother	—	-0.08%

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Frequently Asked Questions

Yes. As of its 30 September 2026 disclosure, TD POWER SYSTEMS LTD is 1.88% of NIPPON INDIA SMALL CAP FUND's net assets — its number 1 holding.

Yes. As of its 30 September 2026 disclosure, Bharat Heavy Electricals Limited is 1.77% of NIPPON INDIA SMALL CAP FUND's net assets — its number 2 holding.

Yes. As of its 30 September 2026 disclosure, HDFC Bank Limited is 1.75% of NIPPON INDIA SMALL CAP FUND's net assets — its number 3 holding.

Yes. As of its 30 September 2026 disclosure, Apar Industries Limited is 1.74% of NIPPON INDIA SMALL CAP FUND's net assets — its number 4 holding.

Yes. As of its 30 September 2026 disclosure, Acme Solar Holdings Limited is 1.33% of NIPPON INDIA SMALL CAP FUND's net assets — its number 5 holding.

New to reading these? See How to Read a Mutual Fund's Monthly Portfolio Disclosure, or check terms like % to NAV in the glossary.

Source: Nippon India Mutual Fund's SEBI-mandated monthly portfolio disclosure, dated 30 September 2026. Data is for information only, not investment advice. Holdings may have changed since the disclosure date.