Reported Earnings • Nov 17
First quarter 2025 earnings released: EPS: MU₨0.18 (vs MU₨0.15 in 1Q 2024) First quarter 2025 results: EPS: MU₨0.18 (up from MU₨0.15 in 1Q 2024). Revenue: MU₨4.55m (down 7.9% from 1Q 2024). Net income: MU₨2.54m (up 20% from 1Q 2024). Profit margin: 56% (up from 43% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 26
Full year 2024 earnings released: EPS: MU₨0.83 (vs MU₨1.61 in FY 2023) Full year 2024 results: EPS: MU₨0.83 (down from MU₨1.61 in FY 2023). Revenue: MU₨17.6m (up 7.3% from FY 2023). Net income: MU₨11.5m (down 48% from FY 2023). Profit margin: 65% (down from 135% in FY 2023). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. New Risk • Sep 26
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 65% Last year net profit margin: 135% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.4% average weekly change). Revenue is less than US$1m (MU₨18m revenue, or US$384k). Market cap is less than US$10m (MU₨124.6m market cap, or US$2.71m). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (65% net profit margin). Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to MU₨7.56, the stock trades at a trailing P/E ratio of 4.2x. Average trailing P/E is 8x in the Real Estate industry in Mauritius. Total loss to shareholders of 15% over the past three years. Upcoming Dividend • Jul 08
Upcoming dividend of MU₨0.30 per share Eligible shareholders must have bought the stock before 15 July 2024. Payment date: 09 August 2024. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 10.0%. Within top quartile of Mauritian dividend payers (6.1%). Higher than average of industry peers (6.0%). Reported Earnings • May 17
Third quarter 2024 earnings released: EPS: MU₨0.15 (vs MU₨0.12 in 3Q 2023) Third quarter 2024 results: EPS: MU₨0.15 (up from MU₨0.12 in 3Q 2023). Net income: MU₨2.05m (up 28% from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Apr 04
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to MU₨6.00. The fair value is estimated to be MU₨7.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.9% over the last 3 years. Earnings per share has grown by 58%. Upcoming Dividend • Feb 22
Upcoming dividend of MU₨0.25 per share Eligible shareholders must have bought the stock before 29 February 2024. Payment date: 29 March 2024. Trailing yield: 7.4%. Within top quartile of Mauritian dividend payers (5.9%). Higher than average of industry peers (5.1%). Reported Earnings • Feb 15
Second quarter 2024 earnings released: EPS: MU₨0.18 (vs MU₨0.10 in 2Q 2023) Second quarter 2024 results: EPS: MU₨0.18 (up from MU₨0.10 in 2Q 2023). Net income: MU₨2.52m (up 78% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 18
First quarter 2024 earnings released: EPS: MU₨0.15 (vs MU₨0.09 in 1Q 2023) First quarter 2024 results: EPS: MU₨0.15 (up from MU₨0.09 in 1Q 2023). Net income: MU₨2.12m (up 66% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Buying Opportunity • Oct 11
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 23%. The fair value is estimated to be MU₨8.86, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.9% over the last 3 years. Earnings per share has grown by 38%. Reported Earnings • Oct 03
Full year 2023 earnings released: EPS: MU₨1.61 (vs MU₨0.63 in FY 2022) Full year 2023 results: EPS: MU₨1.61 (up from MU₨0.63 in FY 2022). Net income: MU₨22.2m (up 161% from FY 2022). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to MU₨7.40, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 6x in the Real Estate industry in Mauritius. Total loss to shareholders of 12% over the past three years. Upcoming Dividend • Aug 16
Upcoming dividend of MU₨0.22 per share at 4.0% yield Eligible shareholders must have bought the stock before 23 August 2023. Payment date: 15 October 2023. Trailing yield: 4.0%. Lower than top quartile of Mauritian dividend payers (5.7%). Lower than average of industry peers (4.7%). Upcoming Dividend • Feb 23
Upcoming dividend of MU₨0.18 per share at 3.8% yield Eligible shareholders must have bought the stock before 02 March 2023. Payment date: 24 March 2023. Trailing yield: 3.8%. Lower than top quartile of Mauritian dividend payers (5.0%). In line with average of industry peers (4.2%). Reported Earnings • Feb 16
Second quarter 2023 earnings released: EPS: MU₨0.10 (vs MU₨0.06 in 2Q 2022) Second quarter 2023 results: EPS: MU₨0.10 (up from MU₨0.06 in 2Q 2022). Revenue: MU₨3.65m (up 8.7% from 2Q 2022). Net income: MU₨1.42m (up 84% from 2Q 2022). Profit margin: 39% (up from 23% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 16
Second quarter 2023 earnings released: EPS: MU₨0.10 (vs MU₨0.06 in 2Q 2022) Second quarter 2023 results: EPS: MU₨0.10 (up from MU₨0.06 in 2Q 2022). Revenue: MU₨3.65m (up 8.7% from 2Q 2022). Net income: MU₨1.42m (up 84% from 2Q 2022). Profit margin: 39% (up from 23% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 18
First quarter 2023 earnings released: EPS: MU₨0.09 (vs MU₨0.07 in 1Q 2022) First quarter 2023 results: EPS: MU₨0.09 (up from MU₨0.07 in 1Q 2022). Revenue: MU₨3.59m (up 12% from 1Q 2022). Net income: MU₨1.28m (up 27% from 1Q 2022). Profit margin: 36% (up from 32% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has remained flat. Board Change • Nov 16
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. 3 experienced directors. 2 highly experienced directors. 1 independent director (4 non-independent directors). Independent Non Executive Director Mark Cridlan 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 • Oct 02
Full year 2022 earnings released: EPS: MU₨0.63 (vs MU₨0.46 in FY 2021) Full year 2022 results: EPS: MU₨0.63 (up from MU₨0.46 in FY 2021). Revenue: MU₨13.2m (down 13% from FY 2021). Net income: MU₨8.53m (up 34% from FY 2021). Profit margin: 65% (up from 42% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has remained flat. Upcoming Dividend • Jul 11
Upcoming dividend of MU₨0.38 per share Eligible shareholders must have bought the stock before 18 July 2022. Payment date: 10 August 2022. Trailing yield: 3.8%. Lower than top quartile of Mauritian dividend payers (3.9%). Higher than average of industry peers (3.1%). Announcement • Jul 03
Novus Properties Declares Dividend for Financial Year Ending 30 June 2022 Payable on or About 10 August 2022 Shareholders of NOVUS PROPERTIES LTD and the public at large are advised that the Board of Directors of NOVUS PROPERTIES LTD has declared a dividend of 38 cents per share to all shareholders registered at close of business on 20 July 2022 in respect of the financial year ending 30 June 2022. The dividend will be paid on or about 10 August 2022. The shares of NOVUS PROPERTIES LTD will be traded cum-dividend up to and including the market day of 15 July 2022 and ex-dividend as from 18 July 2022. Reported Earnings • May 15
Third quarter 2022 earnings released: EPS: MU₨0.10 (vs MU₨0.10 in 3Q 2021) Third quarter 2022 results: EPS: MU₨0.10. Revenue: MU₨3.32m (down 17% from 3Q 2021). Net income: MU₨1.43m (up 2.5% from 3Q 2021). Profit margin: 43% (up from 35% in 3Q 2021). The increase in margin was driven by lower expenses. 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. 3 experienced directors. 2 highly experienced directors. 1 independent director (4 non-independent directors). Independent Non Executive Director Mark Cridlan 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 16
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: EPS: MU₨0.06 (down from MU₨0.09 in 2Q 2021). Revenue: MU₨3.36m (down 15% from 2Q 2021). Net income: MU₨769.9k (down 39% from 2Q 2021). Profit margin: 23% (down from 32% in 2Q 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 09
Upcoming dividend of MU₨0.41 per share Eligible shareholders must have bought the stock before 16 July 2021. Payment date: 03 August 2021. Trailing yield: 4.1%. Within top quartile of Mauritian dividend payers (3.9%). Lower than average of industry peers (4.6%). Reported Earnings • Feb 12
Second quarter 2021 earnings released: EPS MU₨0.09 (vs MU₨0.14 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: MU₨3.97m (up 2.4% from 2Q 2020). Net income: MU₨1.25m (down 33% from 2Q 2020). Profit margin: 32% (down from 48% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Nov 16
First quarter 2021 earnings released: EPS MU₨0.14 The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: MU₨3.99m (up 6.2% from 1Q 2020). Net income: MU₨1.89m (up 5.1% from 1Q 2020). Profit margin: 47% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Oct 02
Full year earnings released - EPS MU₨0.47 Over the last 12 months the company has reported total profits of MU₨6.41m, up 6.4% from the prior year. Total revenue was MU₨15.3m over the last 12 months, down 2.3% from the prior year. Profit margins were 42%, which is higher than the 38% margin from last year. The increase in margin was driven by lower expenses. Is New 90 Day High Low • Sep 24
New 90-day low: MU₨8.00 The company is down 16% from its price of MU₨9.50 on 26 June 2020. The Mauritian market is down 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 1.0% over the same period.