Taurus Ethical Fund - Growth

Regular

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.
Direct

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.

Portfolio Turnover Ratio : 92.00%. Category average turnover ratio is 141.71%. Fund manager updated portfolio less frequently than peers in last 1 year. (I.e. fund manager held stocks/bonds in the portfolio for longer duration than peers)

Equity Holding : 98.92% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 98.92%

No of Stocks : 48 (Category Avg - 44.17) | Large Cap Investments : 55.14%| Mid Cap Investments : 19.91% | Small Cap Investments : 10.29% | Other : 13.58%

Portfolio Summary (as on 31st Oct,2025)

Particulars	This Scheme	Category
No. of Stocks	48	43.41
Top 5 Stock Weight	27.15%	32.46%
Top 10 Stock Weight	41.85%	49.59%
Top 3 Sector Weight	39.31%	43.5%

Category - Sectoral/Thematic

Particulars	This Scheme	Category
Average mcap (Cr)	170352.45	72450.77
Holdings in large cap stocks	55.14%	37.14%
Holdings in mid cap stocks	19.91%	14.47%
Holdings in small cap stocks	10.29%	13.1%

Category - Sectoral/Thematic

Top 10 Stocks holding in Portfolio (as on 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
Reliance Industries Ltd.	Refineries & marketing	272.1	7.69%	1.06%	10.07% (Apr 2025)	6.63% (Sep 2025)	1.83 L	20.85 k
Tata Consultancy Services Ltd.	Computers - software & consulting	225.2	6.36%	1.08%	6.36% (Oct 2025)	3.32% (Mar 2025)	73.64 k	12.63 k
Infosys Ltd.	Computers - software & consulting	180.3	5.09%	0.63%	7.76% (Nov 2024)	3.65% (Apr 2025)	1.22 L	18.35 k
Coal India Ltd.	Coal	163.1	4.61%	1.52%	4.61% (Oct 2025)	1.61% (Dec 2024)	4.20 L	1.56 L
Polycab India Limited	Cables - electricals	120.4	3.40%	-0.01%	3.43% (Jun 2025)	0% (Nov 2024)	15.63 k	0.00
Bharat Petroleum Corporation Ltd.	Refineries & marketing	110.9	3.13%	-0.03%	3.9% (May 2025)	1.95% (Dec 2024)	3.11 L	0.00
Bharat Forge Ltd.	Castings & forgings	105.9	2.99%	2.40%	2.99% (Oct 2025)	0% (Nov 2024)	80.00 k	63.70 k
Colgate - Palmolive (India) Limited	Personal care	104	2.94%	-0.15%	3.31% (Aug 2025)	0% (Nov 2024)	46.36 k	0.00
Laurus Labs Ltd.	Pharmaceuticals	100	2.83%	0.69%	2.83% (Oct 2025)	0% (Nov 2024)	1.05 L	20.00 k
Tube Investments Of India Ltd.	Auto components & equipments	99.3	2.81%	0.34%	2.81% (Oct 2025)	0% (Nov 2024)	32.88 k	6.20 k

- indicates change in weight in the portfolio. # indicates a new entry.

View complete holding

Complete equity Portfolio (as on 31st Oct,2025)

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M-Cap

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Stock Invested in	Sector	Sector Total	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty	M-Cap	GroupName
Reliance Industries Ltd.	Refineries & marketing	10.82	272.1	7.69%	1.06%	10.07% (Apr 2025)	6.63% (Sep 2025)	1.83 L	20.85 k	Large Cap	55.14
Tata Consultancy Services Ltd.	Computers - software & consulting	18.35	225.2	6.36%	1.08%	6.36% (Oct 2025)	3.32% (Mar 2025)	73.64 k	12.63 k	Large Cap	55.14
Infosys Ltd.	Computers - software & consulting	18.35	180.3	5.09%	0.63%	7.76% (Nov 2024)	3.65% (Apr 2025)	1.22 L	18.35 k	Large Cap	55.14
Coal India Ltd.	Coal	4.61	163.1	4.61%	1.52%	4.61% (Oct 2025)	1.61% (Dec 2024)	4.20 L	1.56 L	Large Cap	55.14
Polycab India Limited	Cables - electricals	3.92	120.4	3.40%	-0.01%	3.43% (Jun 2025)	0% (Nov 2024)	15.63 k	0.00	Other	13.58
Bharat Petroleum Corporation Ltd.	Refineries & marketing	10.82	110.9	3.13%	-0.03%	3.9% (May 2025)	1.95% (Dec 2024)	3.11 L	0.00	Large Cap	55.14
Bharat Forge Ltd.	Castings & forgings	2.99	105.9	2.99%	2.40%	2.99% (Oct 2025)	0% (Nov 2024)	80.00 k	63.70 k	Mid Cap	19.91
Colgate - Palmolive (India) Limited	Personal care	5.11	104	2.94%	-0.15%	3.31% (Aug 2025)	0% (Nov 2024)	46.36 k	0.00	Large Cap	55.14
Laurus Labs Ltd.	Pharmaceuticals	10.14	100	2.83%	0.69%	2.83% (Oct 2025)	0% (Nov 2024)	1.05 L	20.00 k	Other	13.58
Tube Investments Of India Ltd.	Auto components & equipments	5.45	99.3	2.81%	0.34%	2.81% (Oct 2025)	0% (Nov 2024)	32.88 k	6.20 k	Small Cap	10.29
Larsen & Toubro Ltd.	Civil construction	2.73	96.8	2.73%	0.10%	2.73% (Oct 2025)	1.34% (Feb 2025)	24.01 k	0.00	Large Cap	55.14
Oracle Financial Services Software Limited	Software products	2.71	96.1	2.71%	-0.13%	2.84% (Sep 2025)	0% (Nov 2024)	11.29 k	0.00	Mid Cap	19.91
Hindustan Unilever Ltd.	Diversified fmcg	2.71	96.1	2.71%	-0.22%	3.17% (Aug 2025)	1.94% (Nov 2024)	38.95 k	0.00	Large Cap	55.14
Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	2.59	91.7	2.59%	-0.11%	3.11% (Apr 2025)	0% (Nov 2024)	26.30 k	0.00	Large Cap	55.14
HCL Technologies Limited	Computers - software & consulting	18.35	89	2.51%	0.11%	4.15% (Dec 2024)	1.22% (Aug 2025)	57.76 k	0.00	Large Cap	55.14
Cipla Ltd.	Pharmaceuticals	10.14	87.2	2.46%	0.72%	2.46% (Oct 2025)	1.74% (Sep 2025)	58.07 k	19.50 k	Large Cap	55.14
Petronet LNG Ltd.	Lpg/cng/png/lng supplier	3.62	82.4	2.33%	0.47%	2.33% (Oct 2025)	1.03% (Jun 2025)	2.93 L	70.00 k	Large Cap	55.14
Hero Motocorp Ltd.	2/3 wheelers	2.26	79.9	2.26%	0.46%	2.26% (Oct 2025)	0% (Nov 2024)	14.41 k	3.45 k	Large Cap	55.14
Torrent Power Ltd.	Integrated power utilities	1.99	70.6	1.99%	0.03%	1.99% (Oct 2025)	0% (Nov 2024)	53.65 k	0.00	Mid Cap	19.91
Associated Cement Companies Ltd.	Cement & cement products	3.31	68.3	1.93%	0.66%	1.93% (Oct 2025)	0% (Nov 2024)	36.32 k	13.04 k	Mid Cap	19.91
Balkrishna Industries Ltd.	Tyres & rubber products	1.8	63.8	1.80%	1.36%	1.8% (Oct 2025)	0% (Nov 2024)	27.96 k	21.58 k	Mid Cap	19.91
Marico Ltd.	Personal care	5.11	59.9	1.69%	-0.04%	2.45% (Aug 2025)	1.15% (Dec 2024)	83.11 k	0.00	Large Cap	55.14
Eveready Industries India Ltd.	Household products	1.63	57.6	1.63%	0.05%	1.63% (Oct 2025)	0% (Nov 2024)	1.51 L	11.98 k	Small Cap	10.29
Linde India Ltd.	Industrial gases	1.63	57.6	1.63%	0.42%	1.63% (Oct 2025)	0% (Nov 2024)	9.56 k	3.10 k	Small Cap	10.29
Castrol (india) Ltd.	Lubricants	1.53	54.3	1.53%	0.35%	1.53% (Oct 2025)	1.17% (Mar 2025)	2.78 L	80.00 k	Mid Cap	19.91
GlaxoSmithKline Pharmaceuticals Ltd.	Pharmaceuticals	10.14	53.3	1.50%	0.20%	2% (Nov 2024)	1.24% (Jan 2025)	20.29 k	4.00 k	Mid Cap	19.91
Hindalco Industries Ltd.	Aluminium	1.46	51.8	1.46%	0.07%	1.46% (Oct 2025)	1.07% (Mar 2025)	61.11 k	0.00	Large Cap	55.14
Persistent Systems Ltd.	Computers - software & consulting	18.35	49.8	1.41%	0.19%	1.41% (Oct 2025)	0% (Nov 2024)	8.42 k	0.00	Other	13.58
Aurobindo Pharma Ltd.	Pharmaceuticals	10.14	49.6	1.40%	-0.01%	1.59% (Apr 2025)	0.45% (Nov 2024)	43.55 k	0.00	Large Cap	55.14
Grasim Industries Limited	Cement & cement products	3.31	48.8	1.38%	-0.01%	1.39% (Sep 2025)	0% (Nov 2024)	16.87 k	0.00	Large Cap	55.14
Computer Age Management Services Pvt Ltd.	Depositories, clearing houses and other intermediaries	1.37	48.3	1.37%	-0.01%	2.7% (Dec 2024)	1.37% (Oct 2025)	12.28 k	0.00	Other	13.58
Tata Technologies Ltd.	Computers - software & consulting	18.35	47.6	1.34%	-0.04%	1.75% (May 2025)	0.86% (Apr 2025)	68.71 k	0.00	Other	13.58
Endurance Technologies Ltd.	Auto components & equipments	5.45	46.8	1.32%	-0.04%	1.74% (Jun 2025)	1.03% (Dec 2024)	16.48 k	0.00	Mid Cap	19.91
- Astral Ltd.	Plastic products - industrial	1.32	46.7	1.32%	0.00%	2.26% (May 2025)	1.18% (Nov 2024)	32.22 k	0.00	Mid Cap	19.91
Motherson Sumi Systems Ltd.	Auto components & equipments	5.45	46.6	1.32%	-0.08%	3.72% (Mar 2025)	0.69% (Aug 2025)	4.42 L	0.00	Large Cap	55.14
Mahanagar Gas Ltd.	Lpg/cng/png/lng supplier	3.62	45.7	1.29%	0.20%	1.43% (Jan 2025)	1.07% (Aug 2025)	35.82 k	7.80 k	Small Cap	10.29
# Jupiter Life Line Hospitals Ltd.	Hospital	1.18	41.9	1.18%	1.18%	1.18% (Oct 2025)	0% (Nov 2024)	26.41 k	26.41 k	Other	13.58
Cera Sanitaryware Ltd.	Sanitary ware	1.05	37.2	1.05%	-0.05%	1.1% (Sep 2025)	0% (Nov 2024)	5.98 k	0.00	Small Cap	10.29
Dr. Reddys Laboratories Ltd.	Pharmaceuticals	10.14	36.9	1.04%	-0.09%	1.44% (Dec 2024)	1.04% (Oct 2025)	30.82 k	0.00	Other	13.58
L&T Technology Services Ltd.	It enabled services	1.01	35.9	1.01%	-0.06%	1.07% (Sep 2025)	0% (Nov 2024)	8.72 k	0.00	Mid Cap	19.91
Coforge Ltd.	Computers - software & consulting	18.35	35.6	1.01%	-0.25%	1.26% (Sep 2025)	0% (Nov 2024)	20.00 k	-6.40 k	Other	13.58
Voltas Limited	Household appliances	0.9	32	0.90%	-0.44%	1.88% (May 2025)	0% (Nov 2024)	23.09 k	-0.10 L	Mid Cap	19.91
# Navin Flourine International Ltd.	Commodity chemicals	0.73	25.9	0.73%	0.73%	0.73% (Oct 2025)	0% (Nov 2024)	4.55 k	4.55 k	Small Cap	10.29
- Birlasoft Ltd.	Computers - software & consulting	18.35	22.3	0.63%	0.00%	0.63% (Sep 2025)	0% (Nov 2024)	59.87 k	0.00	Small Cap	10.29
Finolex Cables Ltd.	Cables - electricals	3.92	18.4	0.52%	-0.05%	0.57% (Sep 2025)	0% (Nov 2024)	23.37 k	0.00	Small Cap	10.29
Alembic Pharmaceuticals Ltd.	Pharmaceuticals	10.14	17.8	0.50%	-0.03%	0.66% (May 2025)	0.26% (Dec 2024)	19.79 k	0.00	Mid Cap	19.91
Godrej Consumer Products Ltd	Personal care	5.11	17.1	0.48%	-0.05%	0.62% (May 2025)	0% (Nov 2024)	15.25 k	0.00	Large Cap	55.14
# Zydus Lifesciences Ltd.	Pharmaceuticals	10.14	14.6	0.41%	0.41%	0.93% (Jan 2025)	0% (Nov 2024)	15.00 k	15.00 k	Mid Cap	19.91
Indegene Ltd.	Healthcare research, analytics & technology		36.2	0.00%	-1.08%	-	-	-	-	Other	13.58
Oil & Natural Gas Corporation Ltd.	Oil exploration & production		95.3	0.00%	-2.86%	-	-	-	-	Large Cap	55.14
Timex Group India Ltd.	Gems, jewellery and watches		8.3	0.00%	-0.25%	-	-	-	-	Small Cap	10.29
Divis Laboratories Ltd.	Pharmaceuticals	10.14	70.9	0.00%	-2.12%	-	-	-	-	Large Cap	55.14
Gujarat Narmada Valley Fertilisers Chemicals. Ltd.	Commodity chemicals	0.73	5	0.00%	-0.15%	-	-	-	-	Small Cap	10.29
Nestle India Ltd.	Packaged foods		19.8	0.00%	-0.59%	-	-	-	-	Other	13.58
Narayana Hrudayalaya Ltd.	Hospital	1.18	93.6	0.00%	-2.80%	-	-	-	-	Small Cap	10.29

- indicates change in weight in the portfolio. # indicates a new entry.

New Stocks added in Portfolio (in 1 month period ending 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
# Zydus Lifesciences Ltd.	Pharmaceuticals	14.6	0.41%	0.41%	0.93% (Jan 2025)	0% (Nov 2024)	15.00 k	15000
# Navin Flourine International Ltd.	Commodity chemicals	25.9	0.73%	0.73%	0.73% (Oct 2025)	0% (Nov 2024)	4.55 k	4547
# Jupiter Life Line Hospitals Ltd.	Hospital	41.9	1.18%	1.18%	1.18% (Oct 2025)	0% (Nov 2024)	26.41 k	26411

Stocks removed from Portfolio (in 1 month period ending 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	1M Change in Qty
Indegene Ltd.	Healthcare research, analytics & technology	36.2	0.00%	-1.08%	1.43% (Jul 2025)	0% (Nov 2024)	-64418
Oil & Natural Gas Corporation Ltd.	Oil exploration & production	95.3	0.00%	-2.86%	2.86% (Sep 2025)	0% (Nov 2024)	-398002
Timex Group India Ltd.	Gems, jewellery and watches	8.3	0.00%	-0.25%	0.49% (Aug 2025)	0% (Nov 2024)	-23465
Divis Laboratories Ltd.	Pharmaceuticals	70.9	0.00%	-2.12%	2.12% (Sep 2025)	0% (Nov 2024)	-12460
Gujarat Narmada Valley Fertilisers Chemicals. Ltd.	Commodity chemicals	5	0.00%	-0.15%	1.77% (May 2025)	0% (Nov 2024)	-10128
Nestle India Ltd.	Packaged foods	19.8	0.00%	-0.59%	1.35% (May 2025)	0% (Nov 2024)	-17136
Narayana Hrudayalaya Ltd.	Hospital	93.6	0.00%	-2.80%	4.37% (Jun 2025)	0% (Nov 2024)	-53965

Trend in stock holdings (Top 15 Holding)

Stock	Oct 2025	Sep 2025	Aug 2025	Jul 2025	Jun 2025	May 2025	Apr 2025	Mar 2025	Feb 2025	Jan 2025	Dec 2024	Nov 2024	Oct 2024
Reliance Industries Ltd.	7.69%	6.63%	7.30%	8.25%	8.88%	8.92%	10.07%	9.48%	9.74%	8.82%	8.57%	7.61%	8.24%
Infosys Ltd.	5.09%	4.46%	3.69%	3.86%	4.08%	4.23%	3.65%	6.29%	7.38%	7.62%	7.72%	7.76%	7.71%
Tata Consultancy Services Ltd.	6.36%	5.28%	3.42%	3.43%	3.90%	4.14%	3.75%	3.32%	3.50%	3.63%	3.66%	3.89%	3.80%
Narayana Hrudayalaya Ltd.	-	2.80%	3.20%	3.57%	4.37%	3.73%	3.99%	3.40%	3.17%	2.82%	1.41%	1.43%	1.51%
Polycab India Limited	3.40%	3.41%	3.39%	3.33%	3.43%	3.33%	3.26%	3.17%	1.85%	0.91%	-	1.66%	-
Bharat Petroleum Corporation Ltd.	3.13%	3.16%	2.93%	3.82%	3.83%	3.90%	2.71%	2.53%	2.36%	2.40%	1.95%	1.99%	1.86%
Mahindra & Mahindra Ltd.	2.59%	2.70%	2.96%	3.03%	3.00%	2.98%	3.11%	2.68%	2.83%	1.95%	-	-	-
HCL Technologies Limited	2.51%	2.40%	1.22%	1.26%	1.47%	1.48%	1.50%	3.36%	3.63%	3.69%	4.15%	4.07%	4.09%
Tube Investments Of India Ltd.	2.81%	2.47%	-	-	-	-	-	-	-	-	-	-	-
Oil & Natural Gas Corporation Ltd.	-	2.86%	2.25%	2.37%	2.39%	2.49%	2.70%	2.55%	2.55%	2.75%	2.54%	2.77%	3.02%
Hindustan Unilever Ltd.	2.71%	2.93%	3.17%	3.07%	2.78%	3.02%	2.53%	2.54%	2.68%	2.23%	2.13%	1.94%	2.06%
Coal India Ltd.	4.61%	3.09%	3.02%	1.89%	1.96%	2.10%	2.17%	2.07%	2.09%	1.64%	1.61%	1.78%	2.03%
Oracle Financial Services Software Limited	2.71%	2.84%	2.14%	2.24%	2.36%	2.36%	2.04%	1.91%	1.33%	1.35%	-	-	-
Cipla Ltd.	2.46%	1.74%	1.88%	1.87%	1.80%	1.86%	2.09%	2.03%	2.16%	2.10%	2.20%	2.25%	2.39%
Colgate - Palmolive (India) Limited	2.94%	3.09%	3.31%	2.66%	1.80%	1.94%	1.27%	1.22%	1.37%	1.01%	-	-	-