Paragon Ceylon : Interim Financial Report 30.06.2022

PARAGON CEYLON PLC

Statement of Profit or Loss and Other Comprehensive Income

	Three	Three
	months ended	months ended
	30th June 2022	30th June 2021	Variance
	Rs.	Rs.	%
Revenue	1,930,525	1,009,300	91.27
Cost of Sales	(158,175)	(91,906)	72.11
Gross Profit	1,772,350	917,394	93.19
Other Income	61,600	61,600	-
Distribution Cost	(35,744)	0	#DIV/0!
Administrative Expenses	(714,121)	(507,479)	40.72
Results From Operating Activities	1,084,085	471,515	129.92
Finance Cost	(42,896)	(27,762)	54.51
Finance Income	743		#DIV/0!
Net Finance (Cost) / Income	(42,153)	(27,762)	51.84
Profit / (Loss) Before Income Tax	1,041,932	443,753	134.80
Income Tax Expenses			#DIV/0!
Profit / (Loss) After Income Tax	1,041,932	443,753	134.80
Other Comprehensive Income
Net change in fair value of available-for-sale financial assets	0	0
Impairment loss / Reversal of Impairment loss on available
Deficit/(Surplus) change on Employee Retirement Benefit Obligation		20,591
for sale financial assets recognised through Profit and Loss
Fair Value Impact related to sold shares during the period
Other Comprehensive Income for the period	0	20,591
Total Comprehensive income for the period	1,041,932	464,344
Earnings per share	1.04	0.44

NOTES TO THE ACCOUNTS

1. The figures are provisional and subject to audit.
2. The condensed interim financial statements have been prepared in accordance with Sri Lanka Accounting Standards-LKAS 34 Interim Financial Reporting, and has applied the same accounting policies and methods of computation which have been adopted in the previous year.
3. Comparative figures have been re-classified to conform with the current year's presentation.
4. There are no other material events, which have occurred subsequent to the period where adjustments are necessary.
5. There are no changes in contingent liabilities of material nature since the last annual balance sheet date.
   Stated Capital
   Stated capital is represented by number of shares in issue as given below.

As at	30th June 2022	30th June 2021
Ordinary shares	1,000,280	1,000,280
Market price per share	2022	2021
For the quarter ended 30th June
Highest price	Rs.	Rs.
No Trading	No Trading
Lowest price	No Trading	No Trading
Market price as at 30th June	No Trading	No Trading

L.I.Ratnasabapathy

Director

A.M.De Alwis

Director

Date 22nd August, 2022

PARAGON CEYLON PLC

Statement of Financial Position

As at	30th June 2022	30th June 2021	31st March 2022
ASSETS	Rs.	Rs.	Rs.
Non - Current Assets
Property Plant and Equipment	0	0	0
Non Current Financial Assets	1,042,388	1,046,174	1,042,388
Deferred Tax Assets	221,511	221,511	221,511
Total Non Current assets	1,263,899	1,267,685	1,263,899
Current Assets
Inventories	183,385	262,623	180,809
Trade and Other Receivables	1,404,734	1,345,539	848,721
Due From Related Companies	3,767,898	1,989,582	3,696,715
Other Current Financial Assets	1,544,250	1,538,116	1,544,250
Income Tax Refund	25,033	25,033	25,033
Cash at Bank and in Hand	104,087	101,717	104,045
Total Current assets	7,029,387	5,262,610	6,399,573
TOTAL ASSETS	8,293,286	6,530,295	7,663,472
EQUITY AND LIABILITIES
Capital and Reserves
Stated Capital (1,000,280)	1,000,280	1,000,280	1,000,280
Available For Sales Reserve	140,342	144,128	140,342
Retained Earnings	1,666,066	(36,293)	624,134
Total Equity attributable to owners of the compan	2,806,688	1,108,115	1,764,756
Non Current Liabilities
Retirement Benefit Obligations		930,630
Total Non current liabilities	0	930,630	0
Current Liabilities
Trade and Other Payables	3,439,545	1,394,282	3,573,829
Due To Related Companies	451,283	730,173	384,058
Bank Overdraft	1,595,770	2,367,095	1,940,829
Total Current liabilities	5,486,598	4,491,550	5,898,716
TOTAL EQUITY AND LIABILITIES	8,293,286	6,530,295	7,663,472
	0	-	-
Net asset value per share	2.81	1.11	1.76

L.I.Ratnasabapathy

Director

A.M.De Alwis

Director

Date 22nd August, 2022

PARAGON CEYLON PLC

Statement of Changes in Equity

For Three Months Ended 30th June 2022

	Stated	Retained	Available For	Total
	Capital	Earnings	Sales Reserve
	Rs.	Rs.		Rs.
Balance as at 01/04/2021	1,000,280	(500,640)	144,128	643,768
Profit for the period	0	443,753	0	443,753
Other Comprehensive Income	0	20,591	0	20,591
Total Comprehensive income	0	464,344	0	464,344
Transfers	0	0	0	0
Balance as at 30/06/2021	1,000,280	(36,296)	144,128	1,108,112
Balance as at 01/04/2022	1,000,280	624,134	140,342	1,764,756
Profit for the period	0	1,041,932	0	1,041,932
Other Comprehensive Income	0	0	-	0
Total Comprehensive income	0	1,041,932	-	1,041,932
Balance as at 30/06/2022	1,000,280	1,666,066	140,342	2,806,688

PARAGON CEYLON PLC

Cash Flow Statements

		Three	Three
		months ended	months ended
		30th June 2022	30th June 2021
Cash Flow From Operating Activities	Rs.	Rs.
Net Profit Before Taxation and Extraordinary Items	1,041,932	443,753
Adjustment for:		0	0
Depreciation
Interest Cost		0	0
Provision For Gratuity	0	28,261
Operating Profit Before Working Capital Changes	1,041,932	472,014
(Increase)/Decrease in Inventories		(2,576)	11,055
(Increase)/Decrease in Trade and	Other Receivables	(627,196)	(1,324,392)
Increase/(Decrease) in Trade and	Other Payables	(67,059)	(153,751)
Change in Other Accounts Payable
Cash Generated from Operations	345,101	(995,074)
Gratuity Paid		0	0
Income Tax Paid		0	0
Net Cash Flows from Operating Activities	345,101	(995,074)
Cash Flow From Financing Activities
Interest Cost		0	0
Net Cash Flows From Financing Activities	0	0
Net Increase/(Decrease) In Cash and Cash Equivalents	345,101	(995,074)
Cash and Cash Equivalents at the Beginning of the Year	(1,836,784)	(1,270,304)
Cash and Cash Equivalents at the End of the period	(1,491,683)	(2,265,378)
Note A - Cash and Cash Equivalents
Favourable balance
Cash in Bank		99,087	96,717
Cash in hand		5,000	5,000
UnFavourable balance
Bank Overdraft		(1,595,770)	(2,367,095)
		(1,491,683)	(2,265,378)
		00000	00000

PARAGON CEYLON PLC

Information To Shareholders And Investors

Twenty Largest Shareholders
			No of Shares	% Held
			Held As At
			30/06/2022
	1	C T Holdings PLC	213,060	21.30%
	2	Mr.J.T Ratnanather	95,140	9.51%
	3	Mrs. B A J Ratnasabapathy	48,860	4.88%
	4	Mr. A J C Ratnanather	48,710	4.87%
	5	Cyril Gardiner (Private) Limited	47,520	4.75%
	6	Sir Chittampalam A Gardiner Trust	46,400	4.64%
	7	Mr. W N S Canagaratna	40,070	4.01%
	8	Mr. G. I Ratnanather	35,580	3.56%
	9	Mr.J.S Ratnanather	35,570	3.56%
	10	Mrs M. C. P Canagaratna	30,400	3.04%
	11	Miss P.R Canagaratna	29,820	2.98%
	12	Mrs. A M de Alwis	29,250	2.92%
	13	Dr. M T Stanislaus	28,860	2.89%
	14	Mr. S H A Gulamhusein	18,430	1.84%
	15	Mr. G T Fazleabas	15,760	1.58%
	16	Mrs. R M Dissanaike	14,050	1.40%
	17	Ceylon Printers Plc - Group Employees Provident Association	10,320	1.03%
	18	Mrs M I Emmanuel	10,000	1.00%
	19	Mrs,D.B.D.D.Danthanarayana	11,000	1.10%
	20	Ceylon printers Limited	9,140	0.91%
			817,940	81.77%
	Balance Shareholders	182,340	18.23%
	Total	1,000,280	100.00%
Shareholder Analysis
			No of Shares	%	No of
			Held As At		Shareholders
			30/06/2022
	Shares Held By The Public	951,166	95.09%	365
	Shares Held By Others	49,114	4.91%	5
			1,000,280	100.00%	370
Directors Shareholdings
	The Shareholdings of the Directors and CEO
			No of Shares
			Held As At
			30/06/2022
	Mr.L.I.Ratnasabapathy	Nil
	Mr. L.C. G. Ratnanather	Nil
	Mr. J.B.M. Ponrajah	10
	Mr. P.S.R. Cassie Chitty	Nil
	Mr.M.M Marzook	Nil
	Ms.A.M.De Alwis	29,250
			29,260

Float Adjusted Market Capitalization

The float adjusted market Capitalization as at 30th June 2022 - Rs.39,948,720.00

The Company is not in compliance with rule 7.14.1 (a) of the listing rules of the Colombo stock exchange on minimum number of public shareholders.