Annual Report 2021

Terra Mauricia Ltd

Annual Report 2021

Terra Mauricia Ltd

Our Annual Integrated Report

Presenting our strategic framework for long-term value creation
Terra is a conglomerate, established in Mauritius and operating locally and regionally. Formerly known as Harel Frères, it started out as a small sugar factory in 1838. Today, Terra is one of the major players in the sugar cane sector in Mauritius, managing some 6,600 hectares of land in the northern part of the island, out of which some 6,000 are under agricultural use, the remaining area being the real estate portfolio. The Group has diversified its activities, from an essentially sugar-based company to one with interests in energy production, alcohol production and commercial distribution, and property development, along with investments in construction and financial services.

Dear Shareholder,

The Board of Directors of Terra Mauricia Ltd (‘Terra or the Company’) is pleased to present this fifth annual Integrated Report. The aim of this report is to provide Terra’s shareholders, and other interested stakeholders, with a concise review of the Group’s performance and governance practices for the financial year ended 31 December 2021, and to outline the Company’s strategic framework for long-term value creation.

While Terra’s executive management team was responsible for preparing this report, the Board has reviewed the report and believes that it provides a balanced and appropriate presentation of those factors that have, or could have, a material effect on Terra’s ability to create value over time. These factors were identified through a structured process involving Terra’s executive management team and other senior managers, in which they reviewed the business model and operating context relating to each of Terra’s four clusters: Cane, Brands, Power, and Property and Leisure.

We encourage you, as one of Terra’s stakeholders, to read this report and to give us your feedback, both on Terra’s disclosure and its performance, as this will help us in our efforts to drive continuous improvement in our governance practices and the Company’s performance.

The Board has applied its collective mind to the preparation and presentation of information in this report, which has been guided by the International Integrated Reporting Council (IIRC)’s recently revised International <IR> Framework. The Board approved this report on 07 September 2022.

On behalf of the Board of Directors, we invite you to join us at the Annual Meeting of Terra to be held at The Terrace, Head Office, Beau Plan Business Park, Pamplemousses, at 2.30 pm on 10 November 2022.

Yours faithfully,
Alain Rey
Nicolas Maigrot - Signature
Nicolas Maigrot
Managing Director

Our Values

Values Respect


Defines the way we relate to people in our Group and community.
Values Tenacity


Encourages us to strive towards excellence through every professional endeavour.
Values Integrity


Guides our every action.
Values Passion


Gives us strength and enthusiasm to always contribute with commitment.
Values Innovation


Inspires us to advance by taking the initiative.