Mauritian Business Barometer: Top 100 Companies Generate Over Rs 690 Billion Revenue

The IBL Group has confirmed its status as the undisputed leader of the prestigious ‘Top 100 Companies’ ranking for 2025, while the collective revenues of the top 100 companies in the country surged past the Rs 690 billion mark (up from Rs 630 billion in 2024, a progression of about 10%). This impressive performance was revealed and celebrated yesterday evening at the official launch of the much-anticipated 2025 edition of the annual business barometer.

Top Performers Revealed

IBL Group, led by Arnaud Lagesse, retained the first place with a striking turnover increase of 18%, reaching Rs 120 billion.

This success is largely driven by the group’s “Beyond Borders” international expansion strategy, which now accounts for 54% of its revenue.

Claire Coulier, Head of Communication, was presented with the biggest turnover trophy by Junior Minister to the Finances, Dhaneshwar Damry.

On the other hand, state-owned company Landscope (Mauritius) Ltd achieved the most spectacular progression in the ranking, with its turnover skyrocketing by 93%, moving from Rs 1.1 billion in 2024 to Rs 2.1 billion in June 2025. CEO Rajen Seetohul accepted the award.

In terms of profitability, the CIEL Group emerged as the best performer among non-banking companies, registering pre-tax profits of Rs 4.8 billion in June 2025.

Head of Corporate & Regulatory Affairs, Kabir Kaleechurn, received the trophy.

The Mauritius Commercial Bank remained firmly in the lead among commercial banks, confirming its position as the country’s most profitable bank with a gross profit of Rs 22.9 billion. Its Chief Finance Officer, Deepak Chummun, was presented with the award.

Industry Recognition and Publication Launch

The launch event, which honoured businesses that have consistently supported the ranking since its inception, saw several other companies distinguished in their respective sectors:

• Construction: United Basalt Products
• Freight and Logistics: Velogic
• Telecommunications: Mauritius Telecom
• Retail/Commerce: Courts Mammouth
• Automobile: Leal
• Large Distribution: Pick & Buy
• Printing: Caractère Ltée
• Real Estate: Pam Golding Properties
• Communication: Circus

The ‘Top 100 Companies’ publication, produced by Business Publications Ltd, a subsidiary of the La Sentinelle group, is considered a vital barometer of business life.

It serves as a key reference tool for economic operators and decision-makers, analysing the financial health of companies and highlighting sector dynamics.

Economic Context and Themes

The 2025 edition, themed “The Top 100 Companies flap their wings and reach new heights”, is released amid a landscape marked by several significant shifts.

On the local front, this includes the installation of a new government in November 2024, the publication of the “State of the Economy” report which detailed the economic inheritance of the previous regime, and the commencement of structural pension reforms.

Internationally, the new tariff policy imposed by US President Donald Trump at the start of the year, consistent with his “Make America Great Again” slogan, is reshaping global trade rules and impacting value chains and global economic balances.

Philippe Forget, Chairman of the La Sentinelle group, analysed these new parameters in his foreword, “Of fresh horizons and tariff splurges…”.

Speaking at the launch, he placed the 2025 ranking in the broader context of the Mauritian private sector’s evolution and its central role in the country’s economic transformation.

The event, which officially launched the 2025 edition, was attended by Junior Minister Damry and members of the management of La Sentinelle Ltd, the publishing house.

Source: l’Express