Annual Report 2022

Terra Group

Who we are

Terra is a conglomerate established in Mauritius and operating locally and regionally. Formerly known as Harel Frères, it started as a small sugar factory in 1838. Today, Terra is one of the major players in the sugar cane sector in Mauritius, managing 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, property development, and investments in construction and financial services.

Our vision, purpose and values

Our vision

When we look to the future, we see a world in which development is sustainable, where every individual has the opportunity to succeed without compromising the needs of the next generation, where natural resources are used responsibly and efficiently, and where the ongoing development of society and the environment is kept in balance.

Our purpose

Our purpose is to cultivate resources for a better future.

As a diversified investment holding Group, our objective is to strive for sustainability across all sectors. We aim to protect and enhance the resources of our natural and commercial environments, while ensuring the continuing development of the people who inhabit them.

Our values

Repect Icon


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

Tenacity Icon


Encourages us to strive towards excellence through every professional endeavour.

Integrity Icon


Guides our every action.

Passion Icon


Gives us strength and enthusiasm to always contribute with commitment.

Innovation Icon


Inspires us to advance by taking the initiative.

Our Annual Integrated Report

We are pleased to present our Annual Integrated Report, which outlines our strategic framework for long-term value creation.

Scope and boundary

This report details the activities of Terra Mauricia Ltd (‘Terra’) and its subsidiaries (‘the Group’). It aims 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 from 1 January 2022 to 31 December 2022. The report further outlines Terra’s strategic framework for long-term value creation.


While Terra’s executive management team was responsible for preparing this report, the Board reviewed it and believes 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. We identified these factors through a structured process involving Terra’s executive management team and other senior managers. During this process, they reviewed the business model and operating context for Terra’s four clusters: Cane, Brands, Power, and Property and Leisure.


As one of Terra’s stakeholders, we encourage you to read this report and give us your feedback on Terra’s disclosure and performance. This will help us continuously improve our governance practices and Terra’s performance.

Board approval

The Board applied its collective mind to preparing and presenting the information in this report, guided by the Integrated Reporting Framework (2021)1. The Board approved this report on 14 June 2023.

Sign Chairman

Alain Rey

Sign Managing Director

Nicolas Maigrot
Managing Director

On behalf of the Board of Directors, we invite you to join us at Terra’s Annual Meeting at The Terrace, Head Office, Beau Plan Business Park, Pamplemousses, at 3.00 pm on 26 September 2023.