Elephant Capital has released its interim figures for the six months ended 28 February 2014. Its net asset value rose from 33p to 34p over the period. They wrote down the value of Amar Chitra Katha Private (a children’s media company) during the period but gains in its listed investment, Nitco Limited (flooring and wall tiles), offset this. Since the period end Elephant Capital has sold its investment in Mahindra CIE Automotive.
They will continue to return cash to shareholders and propose doing this through share buy-backs for now.