LUX Island Resorts Repays Rs 750 Million to MIC After Financial Performance Boost

A key indicator of LUX Island Resorts‘ improved financial performance and the progression of its investment projects is the successful early repayment of Rs 750 million in convertible obligations to the Mauritius Investment Corporation (MIC).

The early repayment, which took place in July, saw the hotel group settle a significant portion of the convertible obligations issued by the MIC. This improvement in financial health was also reflected in the company’s turnover, which climbed by 7.3%.

Capital Structure Impact

The nature of these obligations, which were classified as equity in the financial statements, had an impact on the group’s capital structure following the repayment.

As a result, the total equity for LUX Island Resorts stood at Rs 9.2 billion as of September 30, 2025, down from Rs 9.8 billion on June 30, 2025.

Management Explanation

Management explained that the decrease in total equity is “mainly due to the repayment of the convertible obligations, although it was partially offset by an increase in retained earnings and other reserves.”

The information was drawn by Defi Media from the hotel group’s financial statements published on Monday, October 27.

Source: Defi Media