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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

Bayport Management

No ticker printed · Stock Exchange of Mauritius · Company statements

On this page
Company details
Legal name
Bayport Management Ltd
Listing
No ticker printed on the Stock Exchange of Mauritius, active (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2025 · audited financial statements, signed / final · source

  • Net interest loss

    −USD 64.5 million

    (64,523,412) USD units · p17

    Change not shown.

  • Profit / (loss) for the year

    −USD 33.5 million

    (33,511,842) USD units · p17

    Change not shown.

  • Total assets

    USD 421 million

    420,655,331 USD units · p16

    −32.8% vs 2024

  • Total equity

    USD 23.5 million

    23,478,284 USD units · p16

    −57.2% vs 2024

  • Cash from operations

    USD 17.8 million

    17,787,730 USD units · p20

    +209.5% vs 2024

Large amounts are rounded for reading (USD million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Not shown: the prior-year figure is zero or negative.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in USD units unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2025 — audited financial statements, signed / final; reported for the year · source
  • FY2024 — audited financial statements, signed / final; comparative in the FY2025 filing · source

Income statement

Income statement, USD units. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filing
Interest and other similar income 5,183,494 4,518,819
Interest and other similar expense (69,706,906) (84,029,651)
Net interest loss (64,523,412) (79,510,832)
Dividend income1 16,873,691 44,459,107
Other income 12,720,362 17,720,961
Non-interest income 29,594,053 62,180,068
Operating loss2 (34,929,359) (17,330,764)
Operating expenses (33,897,192) (43,765,596)
Other expenses3 (83,547,141) (7,723,072)
Foreign exchange gain/(loss) 1,514,078 (564,749)
Net operating loss (150,859,614) (69,384,181)
Fair value gain/(loss) on investments in subsidiaries4 123,700,492 (287,524,332)
Share of post-tax results of associate (2,374,707) (1,311,144)
Loss before taxation (29,533,829) (358,219,657)
Taxation (3,978,013) (5,084,824)
Loss for the year (33,511,842) (363,304,481)
Fair value loss on investments in equity instruments designated as at fair value through other comprehensive income5 –6 (7,735,661)
Share of other comprehensive gain/(loss) of associate7 –6 –6
Total items that will not be reclassified subsequently to profit or loss8 –9 (7,735,661)
Foreign exchange differences10 6,939,088 (1,712,013)
Total items that may be reclassified subsequently to profit or loss11 6,939,088 (1,712,013)
Other comprehensive income/(loss) for the year net of taxation 6,939,088 (9,447,674)
Total comprehensive loss for the year (26,572,754) (372,752,155)
  1. Printed “-”, read as nil: subtotal_arithmetic: is.native.co_6yg0dn6gaq6h.oci_not_reclassified.
  2. Printed “-”, read as nil: subtotal_arithmetic: is.other_comprehensive_income.
Notes and alternative reported figures (9)
  1. “Dividend income” is an issuer-specific line, not mapped to a shared definition: Dividends from subsidiaries and equity investments, within non-interest income.
  2. “Operating loss”: mapping to a shared definition is uncertain. Printed 'Operating loss': net interest loss plus non-interest income, before operating expenses (a holding company's net total income).
  3. “Other expenses”: mapping to a shared definition is uncertain. Printed 'Other expenses' (note 25; the statement of cash flows adds back the same amount as loss on disposal of investments in subsidiaries).
  4. “Fair value gain/(loss) on investments in subsidiaries” is an issuer-specific line, not mapped to a shared definition: Note 8: subsidiaries carried at fair value in the separate statements; below net operating loss.
  5. “Fair value loss on investments in equity instruments designated as at fair value through other comprehensive income” is an issuer-specific line, not mapped to a shared definition: OCI, items not reclassified (note 7).
  6. “Share of other comprehensive gain/(loss) of associate” is an issuer-specific line, not mapped to a shared definition: OCI, items not reclassified (note 9).
  7. “Total items that will not be reclassified subsequently to profit or loss” is an issuer-specific line, not mapped to a shared definition: OCI subtotal.
  8. “Foreign exchange differences” is an issuer-specific line, not mapped to a shared definition: OCI, items that may be reclassified (note 26).
  9. “Total items that may be reclassified subsequently to profit or loss” is an issuer-specific line, not mapped to a shared definition: OCI subtotal.

Balance sheet

Balance sheet, USD units. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filing
Cash and bank balances 5,002,662 6,217,989
Other receivables1 654,662 33,622,116
Amounts due from group companies2 121,035,440 153,373,309
Current tax assets 2,976,230 2,360,613
Other investments3 –4 39,322,043
Investments in subsidiaries5 285,139,276 305,406,109
Investments in associate –4 78,070,237
Property and equipment 39,405 80,680
Right-of-use assets 35,666 71,332
Intangible assets 4,376,565 5,480,186
Assets classified as held for sale6 1,352,326 –4
Net investment in finance lease7 43,099 80,853
Deferred tax assets –4 1,908,695
Total Assets 420,655,331 625,994,162
Bank overdraft –8 –8
Amount due to group companies9 228,072,909 420,168,277
Other payables10 1,320,001 4,585,566
Provisions 2,041,191 2,400,000
Lease liabilities11 83,669 156,964
Borrowings 165,659,277 143,799,806
Total Liabilities 397,177,047 571,110,613
Share capital and treasury shares12 386,099,022 416,099,022
Reserves13 5,063,125 8,886,241
Retained loss (367,683,863) (370,101,714)
Total Equity 23,478,284 54,883,549
Total Liabilities and Equity 420,655,331 625,994,162
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.total_assets.
  2. Printed “-”, read as nil: subtotal_arithmetic: bs.total_liabilities.
Notes and alternative reported figures (11)
  1. “Other receivables”: mapping to a shared definition is uncertain. Printed 'Other receivables' (note 4: loans receivable under the share incentive scheme and other receivables).
  2. “Amounts due from group companies” is an issuer-specific line, not mapped to a shared definition: Note 5.1.
  3. “Other investments” is an issuer-specific line, not mapped to a shared definition: Note 7: equity instruments designated at FVTOCI (nil at 31 December 2025).
  4. “Investments in subsidiaries” is an issuer-specific line, not mapped to a shared definition: Note 8: at fair value in the separate statements.
  5. “Assets classified as held for sale” is an issuer-specific line, not mapped to a shared definition: Note 13.
  6. “Net investment in finance lease” is an issuer-specific line, not mapped to a shared definition: Note 11.3: sub-lease.
  7. “Amount due to group companies” is an issuer-specific line, not mapped to a shared definition: Note 5.2.
  8. “Other payables”: mapping to a shared definition is uncertain. Printed 'Other payables' (note 14).
  9. “Lease liabilities” is an issuer-specific line, not mapped to a shared definition: Note 17: not split into current and non-current on the face.
  10. “Share capital and treasury shares” is an issuer-specific line, not mapped to a shared definition: Note 18: share capital, share premium, treasury shares, limited voting B-shares and capital contribution, on one line.
  11. “Reserves”: mapping to a shared definition is uncertain. Printed 'Reserves' (note 19).

Cash flow

Cash flow, USD units. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filing
Loss before taxation1 (29,533,829) (358,219,657)
Share of post-tax results of associate2 2,374,707 1,311,144
Depreciation and amortisation3 1,180,845 89,200
Profit on disposal of property and equipment and intangible assets4 –5 (11)
Unrealised exchange (gain)/loss6 (1,245,944) 147,858
Finance income7 (4,230) (6,613)
Finance costs8 69,706,906 84,029,651
Dividend income9 (16,873,691) (44,459,107)
Movement in provisions and share based payments10 (358,809) 1,990,320
Loss on disposal of investments in subsidiaries11 83,547,141 385,047
Write-off of intercompany receivable12 22,678,547 5,683,223
Fair value (gain)/loss on investments in subsidiaries13 (123,700,492) 287,524,332
Impairment of asset classified as held for sale14 –5 7,338,025
Gain on settlement of loan15 –5 (2,618,505)
Profit/(loss) before tax adjusted for non-cash items16 7,771,151 (16,805,093)
Receipts on amount due from group companies17 16,686,032 20,171,473
Payments on amount due from group companies18 (227,767) (18,575,626)
Dividend received from subsidiaries19 7,373,166 28,151,394
Dividend received from equity instrument designated as at FVTOCI20 2,228,642 5,993,712
Finance costs paid21 (3,007) (10,692,958)
Tax paid (2,069,410) (5,085,242)
Cash generated by operations before changes in working capital22 31,758,807 3,157,660
Increase in other receivables23 (16,269,079) (7,702,585)
Increase in other payables24 2,298,002 10,292,374
Net cash generated by operating activities 17,787,730 5,747,449
Proceeds on disposal of property and equipment and intangible assets25 –26 535
Proceeds from sub-lease27 43,732 42,081
Purchase of property and equipment and intangible assets28 (283) (5,540)
Net cash outflow from acquisition of subsidiaries29 (1,578,300) –26
Net cash flow from disposal of subsidiary30 13,674,938 –26
Receipts on loans to associates31 30,000,000 –26
Net cash generated by investing activities 42,140,087 37,076
Repayment of borrowings –32 (5,362,353)
Repayment of lease liabilities33 (84,900) (81,694)
Receipts on amount due to group companies34 53,444,721 33,478,538
Payments on amount due to group companies35 (84,490,628) (14,309,294)
Redemption of shares36 (30,000,000) –32
Net cash flows (used in)/generated by financing activities (61,130,807) 13,725,197
Net (decrease)/increase in cash and cash equivalents (1,202,990) 19,509,722
Cash and cash equivalents at beginning of the year 6,217,989 (13,274,645)
Effect of foreign exchange rate changes (12,337) (17,088)
Net cash and cash equivalents at the end of the year 5,002,662 6,217,989
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.native.co_6yg0dn6gaq6h.cf_adjusted_pbt.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  3. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (33)
  1. “Loss before taxation” is an issuer-specific line, not mapped to a shared definition: Starting line of the operating cash flows.
  2. “Share of post-tax results of associate” is an issuer-specific line, not mapped to a shared definition: Adjustment (note 9).
  3. “Depreciation and amortisation” is an issuer-specific line, not mapped to a shared definition: Adjustment (notes 10, 11 and 12).
  4. “Profit on disposal of property and equipment and intangible assets” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  5. “Unrealised exchange (gain)/loss” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  6. “Finance income” is an issuer-specific line, not mapped to a shared definition: Adjustment (note 11.3).
  7. “Finance costs” is an issuer-specific line, not mapped to a shared definition: Adjustment (note 22).
  8. “Dividend income” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  9. “Movement in provisions and share based payments” is an issuer-specific line, not mapped to a shared definition: Adjustment (note 15).
  10. “Loss on disposal of investments in subsidiaries” is an issuer-specific line, not mapped to a shared definition: Adjustment (note 25).
  11. “Write-off of intercompany receivable” is an issuer-specific line, not mapped to a shared definition: Adjustment (note 5).
  12. “Fair value (gain)/loss on investments in subsidiaries” is an issuer-specific line, not mapped to a shared definition: Adjustment (note 8).
  13. “Impairment of asset classified as held for sale” is an issuer-specific line, not mapped to a shared definition: Adjustment (note 13).
  14. “Gain on settlement of loan” is an issuer-specific line, not mapped to a shared definition: Adjustment (note 23).
  15. “Profit/(loss) before tax adjusted for non-cash items” is an issuer-specific line, not mapped to a shared definition: Subtotal: loss before taxation plus the adjustments.
  16. “Receipts on amount due from group companies” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  17. “Payments on amount due from group companies” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  18. “Dividend received from subsidiaries” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  19. “Dividend received from equity instrument designated as at FVTOCI” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  20. “Finance costs paid”: mapping to a shared definition is uncertain. Printed 'Finance costs paid' in operating activities; borrowings and lease interest are not split.
  21. “Cash generated by operations before changes in working capital” is an issuer-specific line, not mapped to a shared definition: Subtotal: the adjusted result plus group receipts and payments, dividends received, finance costs paid and tax paid.
  22. “Increase in other receivables” is an issuer-specific line, not mapped to a shared definition: Operating: change in working capital.
  23. “Increase in other payables” is an issuer-specific line, not mapped to a shared definition: Operating: change in working capital.
  24. “Proceeds on disposal of property and equipment and intangible assets”: mapping to a shared definition is uncertain. Printed with intangible assets on one line.
  25. “Proceeds from sub-lease” is an issuer-specific line, not mapped to a shared definition: Investing (note 11.3.2).
  26. “Purchase of property and equipment and intangible assets”: mapping to a shared definition is uncertain. Printed with intangible assets on one line.
  27. “Net cash outflow from acquisition of subsidiaries” is an issuer-specific line, not mapped to a shared definition: Investing (note 8).
  28. “Net cash flow from disposal of subsidiary” is an issuer-specific line, not mapped to a shared definition: Investing (note 8).
  29. “Receipts on loans to associates” is an issuer-specific line, not mapped to a shared definition: Investing (note 4).
  30. “Repayment of lease liabilities”: mapping to a shared definition is uncertain. Printed 'Repayment of lease liabilities': the statement does not say whether it includes lease interest.
  31. “Receipts on amount due to group companies” is an issuer-specific line, not mapped to a shared definition: Financing (note 27).
  32. “Payments on amount due to group companies” is an issuer-specific line, not mapped to a shared definition: Financing (note 27).
  33. “Redemption of shares” is an issuer-specific line, not mapped to a shared definition: Financing (note 27).

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

No dividend statement or amount collected.

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • Bayport Management Ltd Separate Financial Statements for the year ended 31 December 2025

    Year ended 31 December 2025 · Audited financial statements · signed / final

    Audit: Forvis Mazars LLP, Port Louis, unmodified opinion · signed

    Auditor's sign-off: Forvis Mazars LLP; Sandiren Ramsawmy, FCCA, Licensed by FRC

    Final status: Independent auditor's report to the members of Bayport Management Ltd on the separate financial statements on pages 15 to 65 (unmodified opinion, PDF p9; image pages pp9-15 without a text layer), closing with handwritten signatures above 'Forvis Mazars LLP' and 'Sandiren Ramsawmy, FCCA, Licensed by FRC' and the stamped date '26 MAR 2026' (PDF p15, page image). The separate statement of financial position states approval and authorisation for issue by the Board of Directors on 26 March 2026 (printed) with two handwritten signatures above the names Mr Edward Vaughan Heberden and Mr Alastair Andrew Graham Nairn (PDF p16, page image).

    Document date
    26 Mar 2026
    Auditor's report
    26 Mar 2026
    Board approval
    26 Mar 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    company statements · USD units (printed “Figures in US Dollar”)
    • The independent auditor's report (PDF pp9-15) is printed as images without a text layer; the statements themselves have a text layer.
    • The statement of cash flows closes the adjusted result with dividends received, group receipts and payments, finance costs paid and tax paid in 'Cash generated by operations before changes in working capital' (p20).
    • The statement of financial position is unclassified (no current/non-current split; liquidity order) (p16).
    • The statement of profit or loss labels net interest loss plus non-interest income 'Operating loss' ((34,929,359); 2024: (17,330,764)) and the result after operating expenses, other expenses and foreign exchange 'Net operating loss' (p17).
    • Separate financial statements of the holding company only ('Standalone AFS'); the group's consolidated statements are not in this document. Subsidiaries are carried at fair value through profit or loss.
    Technical details
    File
    66 pages, with a text layer
    SHA-256
    0da2ab7641254e6fbfdd1c9c2edd729dbd706f3081694571e952e0a35d277554
    Entity as printed
    Bayport Management Ltd (the "Company"), registration number 54787 C1/GBL
    Issuer copy
    retrieved 2026-10-08T19:12:11Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.

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