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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

Lavastone

No ticker printed · Stock Exchange of Mauritius · Consolidated statements

On this page
Company details
Legal name
Lavastone 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
30 September

Overview

Year ended 30 September 2025 · annual report, signed / final · source

  • Revenue

    MUR 418 million

    417,683 MUR thousands · p95

    +0.8% vs 2024

  • Operating profit / (loss)

    MUR 263 million

    263,389 MUR thousands · p95

    +4.1% vs 2024

  • Profit / (loss) for the year

    MUR 242 million

    241,940 MUR thousands · p95

    +37.6% vs 2024

  • Total assets

    MUR 5.23 billion

    5,231,359 MUR thousands · p94

    +2.4% vs 2024

  • Total equity

    MUR 3.56 billion

    3,555,514 MUR thousands · p94

    +5.9% vs 2024

  • Cash from operations

    MUR 232 million

    231,663 MUR thousands · p97

    −23.7% vs 2024

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

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in MUR thousands 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

  • FY to 30 Sep 2025 — annual report, signed / final; reported for the year · source
  • FY to 30 Sep 2024 — annual report, signed / final; comparative in the FY to 30 Sep 2025 filing · source

Income statement

Income statement, MUR thousands. Columns: FY to 30 Sep 2025 — annual report (signed / final), as reported for the year; FY to 30 Sep 2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY to 30 Sep 2025Annual reportreported for the yearFY to 30 Sep 2024Annual reportcomparative in FY to 30 Sep 2025 filing
Rental income1 359,543 334,566
Recoveries2 50,797 50,188
Other operating income3 7,343 11,547
Sale of land4 –5 17,943
Total revenue 417,683 414,244
Operating expenses6 (65,946) (58,502)
Morcellement costs7 –8 (12,990)
Net operational income9 351,737 342,752
Administrative expenses (88,588) (87,452)
Impairment reversal/(losses)10 240 (2,174)
Operating profit/(loss) 263,389 253,126
for sale11 13,514 –12
Other gains13 51,836 52,197
Share of results of associate (19,968) (16,378)
finance costs14 308,771 288,945
Interest income 7,447 7,722
Net finance costs15 (74,011) (83,782)
Profit/(loss) before tax 242,207 212,885
Income tax expense (267) (37,093)
Profit/(loss) for the year 241,940 175,792
Foreign exchange difference on retranslation16 15,755 27,278
benefit obligations17 1,157 (384)
Total comprehensive income, net of tax 258,852 202,686
Non-controlling interests18 (2,809) 2,989
  1. Printed “-”, read as nil: subtotal_arithmetic: is.revenue.
  2. Printed “-”, read as nil: subtotal_arithmetic: is.native.co_d9yjfmtvc43z.net_operational_income.
  3. Printed “-”, read as nil: subtotal_arithmetic: is.native.co_d9yjfmtvc43z.profit_before_interest.
Notes and alternative reported figures (15)
  1. “Rental income” is an issuer-specific line, not mapped to a shared definition: Within total revenue.
  2. “Recoveries” is an issuer-specific line, not mapped to a shared definition: Service charge recoveries; within total revenue.
  3. “Other operating income” is an issuer-specific line, not mapped to a shared definition: Printed within total revenue.
  4. “Sale of land” is an issuer-specific line, not mapped to a shared definition: Within total revenue.
  5. “Operating expenses” is an issuer-specific line, not mapped to a shared definition: Note 8: property operating expenses.
  6. “Morcellement costs” is an issuer-specific line, not mapped to a shared definition: Costs of land parcelling (sale of land).
  7. “Net operational income” is an issuer-specific line, not mapped to a shared definition: Issuer subtotal.
  8. “Impairment reversal/(losses)” is an issuer-specific line, not mapped to a shared definition: Notes 24(b)/20/21: loss allowance and impairments.
  9. “for sale” is an issuer-specific line, not mapped to a shared definition: Note 32.
  10. “Other gains” is an issuer-specific line, not mapped to a shared definition: Note 11: fair value gains on investment property and biological assets.
  11. “finance costs” is an issuer-specific line, not mapped to a shared definition: Issuer subtotal.
  12. “Net finance costs”: mapping to a shared definition is uncertain. Printed 'Net finance costs' (note 10(a)).
  13. “Foreign exchange difference on retranslation” is an issuer-specific line, not mapped to a shared definition: OCI that will be reclassified.
  14. “benefit obligations” is an issuer-specific line, not mapped to a shared definition: OCI not reclassified.
  15. “Non-controlling interests” is an issuer-specific line, not mapped to a shared definition: Profit attribution.

Balance sheet

Balance sheet, MUR thousands. Columns: FY to 30 Sep 2025 — annual report (signed / final), as reported for the year; FY to 30 Sep 2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY to 30 Sep 2025Annual reportreported for the yearFY to 30 Sep 2024Annual reportcomparative in FY to 30 Sep 2025 filing
Investment properties 4,536,009 4,431,201
Investment property under development1 29,175 25,300
Net investment in lease2 4,038 4,795
Plant, property and equipment 17,960 17,631
Intangible assets 50 175
Investment in associate 112,648 132,616
Loan receivable3 89,482 78,509
Deferred tax asset 7,414 9,615
Non-current assets (unlabelled subtotal) 4,796,776 4,699,842
Consumable biological assets4 7,202 6,866
Inventory properties5 16,431 14,958
Net investment in lease6 756 727
Trade and other receivables 65,082 71,048
Income tax receivable –7 –7
Cash in hand and at bank 276,275 199,960
Current assets (unlabelled subtotal) 365,746 293,559
Non-current assets classified as held for sale8 68,837 113,227
Total assets 5,231,359 5,106,628
Stated Capital 1,721,081 1,721,081
Capital and other reserves9 188,350 172,595
Retained earnings 1,288,334 1,096,487
Equity attributable to equity holders of the parent 3,197,765 2,990,163
Non controlling interests 357,749 367,476
Total equity 3,555,514 3,357,639
Lease liabilities 86,970 81,324
Deferred tax liability 106,209 123,722
Retirement benefit obligations 3,297 3,993
Borrowings 1,302,562 1,340,881
Non-current liabilities (unlabelled subtotal) 1,499,038 1,549,920
Trade and other payables 108,479 139,522
Lease liabilities 6,475 7,101
Income tax payable 14,222 10,804
Borrowings 45,905 39,916
Current liabilities (unlabelled subtotal) 175,081 197,343
assets classified as held for sale10 1,726 1,726
Total equity and liabilities 5,231,359 5,106,628
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.current_assets.
Notes and alternative reported figures (9)
  1. “Investment property under development” is an issuer-specific line, not mapped to a shared definition: Note 16.
  2. “Net investment in lease” is an issuer-specific line, not mapped to a shared definition: Note 17: finance lease receivable.
  3. “Loan receivable” is an issuer-specific line, not mapped to a shared definition: Note 24; non-current.
  4. “Consumable biological assets” is an issuer-specific line, not mapped to a shared definition: Note 22.
  5. “Inventory properties” is an issuer-specific line, not mapped to a shared definition: Note 23: property held for sale in the ordinary course.
  6. “Net investment in lease” is an issuer-specific line, not mapped to a shared definition: Note 17.
  7. “Non-current assets classified as held for sale” is an issuer-specific line, not mapped to a shared definition: Note 35.
  8. “Capital and other reserves” is an issuer-specific line, not mapped to a shared definition: Note 26(b).
  9. “assets classified as held for sale” is an issuer-specific line, not mapped to a shared definition: Note 35.

Cash flow

Cash flow, MUR thousands. Columns: FY to 30 Sep 2025 — annual report (signed / final), as reported for the year; FY to 30 Sep 2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY to 30 Sep 2025Annual reportreported for the yearFY to 30 Sep 2024Annual reportcomparative in FY to 30 Sep 2025 filing
Profit/(loss) before tax1 242,207 212,885
Impairment of investments in subsidiaries2 –3 –3
Impairment of investment in associate4 –3 –3
(Reversal of)/Provision for loss allowance5 (240) 2,174
Profit on disposal of investment properties6 –3 –3
Profit on disposal of non-current assets held for sale7 (13,514) –3
Lease liability written off8 –3 –3
Remeasurement of lease liability9 4,091 256
Foreign exchange gain10 (722) (95)
Share of results in associate11 19,968 16,378
Amortisation of intangible assets12 125 126
Depreciation13 3,756 4,629
Retirement benefit obligations14 461 65
Interest income15 (7,447) (7,722)
Interest expense16 74,733 83,877
Other gains17 (51,500) (51,318)
Movement in biological assets18 (336) (879)
Movement in inventory properties19 (1,473) 7,442
Trade and other receivables20 3,500 (8,886)
Trade and other payables21 (29,648) 39,250
Cash generated from/(used in) operations 243,962 298,182
Income tax (paid)/received (12,299) 5,595
operating activities 231,663 303,777
Loan (granted)/repaid22 (10,973) (9,685)
Interest received 4,303 2,764
Addition to investment properties23 (38,600) (344,678)
Purchase of property, plant and equipment (2,346) (1,856)
Purchase of additional investment in subsidiary24 (687) (924)
for sale25 71,515 –26
Proceeds from disposal of investment properties27 –26 6,555
investing activities 23,212 (347,824)
Loan (net repayment)/received net of repayment28 (41,676) (15,779)
Lease liabilities payment (7,225) (6,690)
Interest paid29 (70,937) (78,727)
Dividends paid to shareholders of company (54,442) (51,039)
Net cash (used in) financing activities (174,280) (152,235)
cash equivalents 80,595 (196,282)
Cash and cash equivalents at 1 October 199,960 394,980
Effect of foreign exchange rate changes (4,280) 1,262
Cash and cash equivalents at 30 September 276,275 199,960
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_generated_from_operations.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
Notes and alternative reported figures (27)
  1. “Profit/(loss) before tax” is an issuer-specific line, not mapped to a shared definition: Cash-flow starting point.
  2. “Impairment of investments in subsidiaries” is an issuer-specific line, not mapped to a shared definition: Adjustment (nil for the group).
  3. “Impairment of investment in associate” is an issuer-specific line, not mapped to a shared definition: Adjustment (nil for the group).
  4. “(Reversal of)/Provision for loss allowance” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  5. “Profit on disposal of investment properties” is an issuer-specific line, not mapped to a shared definition: Adjustment (nil for the group).
  6. “Profit on disposal of non-current assets held for sale” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  7. “Lease liability written off” is an issuer-specific line, not mapped to a shared definition: Adjustment (nil for the group).
  8. “Remeasurement of lease liability” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  9. “Foreign exchange gain” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  10. “Share of results in associate” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  11. “Amortisation of intangible assets” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  12. “Depreciation” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  13. “Retirement benefit obligations” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  14. “Interest income” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  15. “Interest expense” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  16. “Other gains” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  17. “Movement in biological assets” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  18. “Movement in inventory properties” is an issuer-specific line, not mapped to a shared definition: Working capital change.
  19. “Trade and other receivables” is an issuer-specific line, not mapped to a shared definition: Working capital change.
  20. “Trade and other payables” is an issuer-specific line, not mapped to a shared definition: Working capital change.
  21. “Loan (granted)/repaid” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  22. “Addition to investment properties” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  23. “Purchase of additional investment in subsidiary” is an issuer-specific line, not mapped to a shared definition: Investing activities (NCI buy-out).
  24. “for sale” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  25. “Proceeds from disposal of investment properties” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  26. “Loan (net repayment)/received net of repayment” is an issuer-specific line, not mapped to a shared definition: Financing activities: net borrowings.
  27. “Interest paid”: mapping to a shared definition is uncertain. Printed 'Interest paid' (all interest paid), within financing activities.

Per share and shares

Per share and shares. Columns: FY to 30 Sep 2025 — annual report (signed / final), as reported for the year; FY to 30 Sep 2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY to 30 Sep 2025Annual reportreported for the yearFY to 30 Sep 2024Annual reportcomparative in FY to 30 Sep 2025 filing
Earnings / (loss) per share (per share)21 0.36 0.25
Profit / (loss) attributable to shareholders (MUR thousands)3 244,749 172,803
Notes and alternative reported figures (3)
  1. “Basic earnings per share (Rs)”: mapping to a shared definition is uncertain. Only basic earnings per share is printed (Rs).
  2. Earnings / (loss) per share: printed as “Basic earnings per share (Rs)”.
  3. Profit / (loss) attributable to shareholders: printed as “Owners of the parent”.

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.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
30 Sep 2025 Dividends paid (cash flow statement) Dividends paid to shareholders of company (54,442) MUR thousands Annual report, p97
30 Sep 2024 Dividends paid (cash flow statement) Dividends paid to shareholders of company (51,039) MUR thousands Annual report, p97

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.

  • Lavastone Annual Report 2025

    Year ended 30 September 2025 · Annual report · signed / final

    Audit: BDO & Co, Chartered Accountants (Mauritius), unmodified opinion · signed

    Auditor's sign-off: BDO & Co; Rookaya Ghanty, FCCA, Licensed by FRC

    Final status: Independent auditors' report to the shareholders of Lavastone Ltd on the consolidated and separate financial statements (pp88-93), unmodified, signed 'BDO & CO' and by Rookaya Ghanty, FCCA, Licensed by FRC, Port Louis, 15 December 2025 (p93, page image). Approved for issue by the Board on 15 December 2025 and signed by Colin Taylor and Nicolas Vaudin, Directors (handwritten signatures, p94, page image).

    Document date
    15 Dec 2025
    Auditor's report
    15 Dec 2025
    Board approval
    15 Dec 2025
    Retrieved by us
    17 Oct 2026 (not a publication date)
    Used for
    statement columns FY to 30 Sep 2025, FY to 30 Sep 2024
    Basis
    consolidated statements · MUR thousands (printed “Rs 000”)
    • No total other comprehensive income, total liabilities or captioned asset/liability subtotals are printed: OCI items run straight to total comprehensive income; the statement of financial position prints unlabelled subtotals. 'Total revenue' (note 7(a)) includes recoveries, other operating income and sale of land.
    • Queue period end 2024-10-01 / fiscal year 2024 was a guess: the report covers 01 October 2024 to 30 September 2025 (p3) and the statements are for the year ended 30 September 2025.
    Technical details
    File
    156 pages, with a text layer
    SHA-256
    17a824e8b2521090154f52a943509cf47e9e395992c61e5950ffd6d606ce5977
    Entity as printed
    Lavastone Ltd (“Lavastone” or the “Company”) (p3)
    Issuer copy
    retrieved 2026-10-17T14:47:01Z

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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