공지 • Jan 21
Lavastone Ltd, Annual General Meeting, Feb 10, 2026 Lavastone Ltd, Annual General Meeting, Feb 10, 2026, at 13:00 Arabian Standard Time. Location: registered office of the company, 1st floor, edith, 6 edith cavell street, port louis, Mauritius 공지 • Jan 23
Lavastone Ltd, Annual General Meeting, Feb 12, 2025 Lavastone Ltd, Annual General Meeting, Feb 12, 2025, at 13:00 Arabian Standard Time. Location: 1st floor, edith, 6 edith cavell street, port louis, Mauritius Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to MU₨1.60, the stock trades at a trailing P/E ratio of 4.9x. Average trailing P/E is 9x in the Real Estate industry in Mauritius. Total loss to shareholders of 11% over the past three years. Reported Earnings • Aug 14
Third quarter 2024 earnings released: EPS: MU₨0.046 (vs MU₨0.047 in 3Q 2023) Third quarter 2024 results: EPS: MU₨0.046 (down from MU₨0.047 in 3Q 2023). Revenue: MU₨101.1m (up 37% from 3Q 2023). Net income: MU₨31.1m (down 2.5% from 3Q 2023). Profit margin: 31% (down from 43% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Declared Dividend • May 17
Dividend increased to MU₨0.03 Dividend of MU₨0.03 is 20% higher than last year. Ex-date: 29th May 2024 Payment date: 15th June 2024 Dividend yield will be 6.0%, which is higher than the industry average of 5.0%. Sustainability & Growth Dividend is well covered by both earnings (21% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 12% per year over the past 5 years. However, payments have been volatile during that time. Earnings per share has grown by 2.9% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 10
First quarter 2024 earnings released: EPS: MU₨0.052 (vs MU₨0.039 in 1Q 2023) First quarter 2024 results: EPS: MU₨0.052 (up from MU₨0.039 in 1Q 2023). Revenue: MU₨102.6m (up 39% from 1Q 2023). Net income: MU₨35.2m (up 34% from 1Q 2023). Profit margin: 34% (down from 36% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. 공지 • Jan 18
Lavastone Ltd, Annual General Meeting, Feb 08, 2024 Lavastone Ltd, Annual General Meeting, Feb 08, 2024, at 09:00 Coordinated Universal Time. Location: Registered Office of the Company, 1st Floor, EDITH, 6 Edith Cavell Street Port Louis Port Louis Mauritius Agenda: To consider the Company's Annual Report for the year ended 30 September 2023; to receive the Auditors' report for the year ended 30 September 2023; to consider and adopt the Company's audited financial statements for the year ended 30 September 2023; to re-elect Mrs. Vijaya Lakshmi (Ruby) SAHA as Director1 of the Company to hold office until the next Annual Meeting in accordance with Section 138 (6) of the Companies Act 2001; and to consider other business matters. Upcoming Dividend • Dec 28
Upcoming dividend of MU₨0.045 per share at 4.6% yield Eligible shareholders must have bought the stock before 04 January 2024. Payment date: 23 January 2024. Trailing yield: 4.6%. Lower than top quartile of Mauritian dividend payers (5.8%). In line with average of industry peers (5.0%). Reported Earnings • Dec 19
Full year 2023 earnings released: EPS: MU₨0.32 (vs MU₨0.25 in FY 2022) Full year 2023 results: EPS: MU₨0.32 (up from MU₨0.25 in FY 2022). Revenue: MU₨405.1m (up 43% from FY 2022). Net income: MU₨216.4m (up 25% from FY 2022). Profit margin: 53% (down from 61% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. New Risk • Aug 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.3% average weekly change). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (56% net profit margin). Market cap is less than US$100m (MU₨1.22b market cap, or US$27.0m). Reported Earnings • Aug 13
Third quarter 2023 earnings released: EPS: MU₨0.047 (vs MU₨0.064 in 3Q 2022) Third quarter 2023 results: EPS: MU₨0.047 (down from MU₨0.064 in 3Q 2022). Revenue: MU₨75.0m (up 4.0% from 3Q 2022). Net income: MU₨31.9m (down 27% from 3Q 2022). Profit margin: 43% (down from 61% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to MU₨1.90, the stock trades at a trailing P/E ratio of 7x. Average trailing P/E is 7x in the Real Estate industry in Mauritius. Total returns to shareholders of 46% over the past three years. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to MU₨1.51, the stock trades at a trailing P/E ratio of 4.8x. Average trailing P/E is 6x in the Real Estate industry in Mauritius. Total returns to shareholders of 25% over the past three years. Upcoming Dividend • May 18
Upcoming dividend of MU₨0.025 per share at 2.7% yield Eligible shareholders must have bought the stock before 25 May 2023. Payment date: 13 June 2023. Trailing yield: 2.7%. Lower than top quartile of Mauritian dividend payers (6.2%). Lower than average of industry peers (18%). Reported Earnings • Feb 21
Third quarter 2022 earnings released: EPS: MU₨0.064 (vs MU₨0.002 loss in 3Q 2021) Third quarter 2022 results: EPS: MU₨0.064 (up from MU₨0.002 loss in 3Q 2021). Revenue: MU₨72.1m (up 42% from 3Q 2021). Net income: MU₨43.7m (up MU₨44.7m from 3Q 2021). Profit margin: 61% (up from net loss in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Upcoming Dividend • Dec 23
Upcoming dividend of MU₨0.04 per share Eligible shareholders must have bought the stock before 30 December 2022. Payment date: 19 January 2023. Trailing yield: 1.7%. Lower than top quartile of Mauritian dividend payers (4.9%). Lower than average of industry peers (3.8%). Reported Earnings • Dec 17
Full year 2022 earnings released: EPS: MU₨0.27 (vs MU₨0.23 in FY 2021) Full year 2022 results: EPS: MU₨0.27 (up from MU₨0.23 in FY 2021). Revenue: MU₨287.3m (up 35% from FY 2021). Net income: MU₨180.2m (up 13% from FY 2021). Profit margin: 63% (down from 75% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 1% per year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Shyam Mohadeb Mohadeb was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 18
Third quarter 2022 earnings released: EPS: MU₨0.064 (vs MU₨0.002 loss in 3Q 2021) Third quarter 2022 results: EPS: MU₨0.064 (up from MU₨0.002 loss in 3Q 2021). Revenue: MU₨73.5m (up 45% from 3Q 2021). Net income: MU₨43.7m (up MU₨44.7m from 3Q 2021). Profit margin: 59% (up from net loss in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 4% per year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Shyam Mohadeb Mohadeb was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Feb 13
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: MU₨0.002 loss per share (down from MU₨0.019 profit in 3Q 2020). Net loss: MU₨1.03m (down 108% from profit in 3Q 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Dec 28
Upcoming dividend of MU₨0.02 per share Eligible shareholders must have bought the stock before 04 January 2022. Payment date: 21 January 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.9%. Lower than top quartile of Mauritian dividend payers (3.5%). Lower than average of industry peers (2.4%). Reported Earnings • Aug 18
Third quarter 2021 earnings released: MU₨0.002 loss per share (vs MU₨0.019 profit in 3Q 2020) Third quarter 2021 results: Net loss: MU₨1.03m (down 108% from profit in 3Q 2020). Upcoming Dividend • May 24
Upcoming dividend of MU₨0.02 per share Eligible shareholders must have bought the stock before 31 May 2021. Payment date: 18 June 2021. Trailing yield: 1.4%. Lower than top quartile of Mauritian dividend payers (4.3%). Lower than average of industry peers (4.4%). Is New 90 Day High Low • Mar 10
New 90-day low: MU₨1.33 The company is down 17% from its price of MU₨1.60 on 10 December 2020. The Mauritian market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 2.0% over the same period. Upcoming Dividend • Dec 30
Upcoming Dividend of MU₨0.02 Per Share Will be paid on the 25th of January to those who are registered shareholders by the 6th of January. The trailing yield of 1.3% is below the top quartile of Mauritian dividend payers (5.5%), and is lower than industry peers (4.7%). Valuation Update With 7 Day Price Move • Nov 20
Market bids up stock over the past week After last week's 22% share price gain to MU₨1.50, the stock is trading at a trailing P/E ratio of 6.2x, up from the previous P/E ratio of 5x. This compares to an average P/E of 20x in the Real Estate industry in Mauritius. Total return to shareholders over the past year is a loss of 32%. Is New 90 Day High Low • Nov 20
New 90-day high: MU₨1.50 The company is up 4.0% from its price of MU₨1.44 on 21 August 2020. The Mauritian market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is down 3.0% over the same period. Is New 90 Day High Low • Oct 28
New 90-day low: MU₨1.25 The company is down 7.0% from its price of MU₨1.35 on 30 July 2020. The Mauritian market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 3.0% over the same period.