Colombo, 31 August 2026 – Paragon Ceylon PLC (CSE: PARA) has announced the release of its Annual Report for the financial year ended 31st March 2026, outlining the company’s performance and significant updates. The announcement also includes the formal notice for its 69th Annual General Meeting (AGM), set to take place in September.
Financial Performance Overview
The financial year 2026 proved challenging for Paragon Ceylon PLC, with the company reporting a considerable decrease in both turnover and overall profitability. According to the Chairman’s Review, the company’s turnover for the period stood at Rs. 11.150 million, a noticeable drop from Rs. 19.456 million recorded in the previous financial year (2025). This decline led to an operating loss of Rs. 2.130 million, an increase from the Rs. 0.494 million operating loss reported in the prior year.
The company concluded the financial year with a net loss of Rs. 2.000 million, compared to a net loss of Rs. 0.596 million in FY2025. These results are primarily attributed to a reduction in other income and decreased sales in key business areas, specifically pre-printed stationery and various print jobs.
Annual General Meeting on the Horizon
Shareholders are invited to attend the 69th Annual General Meeting of Paragon Ceylon PLC, which will be held on Thursday, 25th September 2026, at 10:45 a.m. The meeting is scheduled to take place at the Nondescripts Cricket Club, Committee Room, No 29, Maitland Place, Colombo 7. The agenda for the upcoming AGM includes:
- To receive and consider the Annual Report of the Board of Directors on the company’s affairs, the Financial Statements for the year ended 31st March 2026, and the Report of the Auditors thereon.
- To re-elect Mr. M. R. Y. Riffai as a Director of the Company, who retires by rotation in terms of Article 84 of the Articles of Association.
- To authorize the Directors to determine donations for the ensuing financial year.
- To re-appoint Messrs. Bakertilly Edirisinghe & Company, Chartered Accountants, as the Auditors of the Company and to authorize the Directors to determine their remuneration.
Shareholders who are unable to attend the meeting are entitled to appoint a Proxy. The completed Form of Proxy must be deposited at the Company’s Registered Office no less than forty-eight hours before the scheduled commencement of the meeting.
Board and Governance Updates
The Annual Report confirms that Mr. J. B. M. Ponrajah resigned from his position as an Executive Director of the company with effect from 26th September 2025. The Board, under the leadership of Chairman/Managing Director Mr. L. I. Ratnasabapathy, continues to emphasize strong corporate governance. The company maintains its compliance with the Listing Rules of the Colombo Stock Exchange, with its Audit, Remuneration, Nominations & Governance, and Related Party Transactions Review Committees actively functioning to ensure transparency and accountability.
Auditor Re-appointment
Messrs. Bakertilly Edirisinghe & Company, Chartered Accountants, have served as the company’s Auditors for the year under review and have indicated their willingness to continue in their role. Their re-appointment for the financial year ending 31st March 2027, along with the determination of their remuneration by the Directors, will be proposed at the AGM, following a recommendation from the Audit Committee.
Shareholder Insights
As of 31st March 2026, Paragon Ceylon PLC’s stated capital remained at Rs. 1,000,280, comprising 1,000,280 fully paid ordinary shares. The public holding percentage for the period was recorded at 94.52%, represented by 534 shareholders. The company’s share price saw significant volatility, with a high of Rs. 710.00 and a low of Rs. 150.00 during the year, eventually closing at Rs. 503.50. However, the company noted its non-compliance with Rule 7.13.1 (i) (a) of the CSE Listing Rules, pertaining to the minimum number of public shareholders.
Management Outlook
Despite the recent financial downturn, the management expresses a proactive stance for the future. The Chairman’s Review highlights that management is “exploring new streams of revenue whilst looking into the operations of the company and taking necessary measures to increase Turnover and the profitability during the current Financial Year.” The Board of Directors has also confirmed its assessment that Paragon Ceylon PLC possesses the necessary resources to continue operating as a going concern.
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