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Sağlama record · BIST: ALTNY

Altınay Savunma

Altınay Savunma (ALTNY) shares are on Borsa Istanbul's participation index list (BIST Participation All Shares) for the period from October 1, 2026 to April 30, 2027. Source: Borsa Istanbul's list of participation index constituents, Oct 1, 2026. The shares are also in the BIST Participation 30, BIST Participation 30 Equal Weighted Return, BIST Participation 50 and BIST Participation 100 indices.

Dated October 17, 2026No. SGL-2026-6A-ALTNY

Based on the financial statements for the first half of 2026, all three ratios are within the TKBB thresholds.

This is a measurement, not a religious ruling.

MEASUREMENT TABLE

Interest-bearing loans

within the threshold
19.7%

Upper bound

Calculation and source

Calculation: numerator ÷ denominatorTRY 2,424,675,011÷TRY 12,323,816,434 (total assets)× 100

RatioInterest-bearing loans / total assets

Upper bound. Debt items that may count as interest-bearing (line 6I of the KAFİF form) were taken in full from the public statements. Debts proven not to count (line 6J of the KAFİF form) were deducted as far as the notes prove them; items that could not be separated stayed in the numerator, as a precaution. Of the lease liabilities shown on the balance sheet, TRY 24,507,451 are debts that do not count under TKBB Guideline 6.2, so they were deducted from the debt numerator (source: balance sheet, page 6). The ratio is therefore an upper bound for the items shown in the financial statements. Note 6: “Diğer çeşitli borçlar” TRY 45,892,320: undetermined, kept in the upper bound. Note 4: “Kısa vadeli banka kredileri” TRY 1,989,308,436: undetermined, kept in the upper bound; “Kısa vadeli finansal kiralama borçları” TRY 82,917,103: not counted (proven); “Faiz tahakkuku” TRY 49,847,779: counted in the ratio (proven); “Kredi kartı borçları” TRY 288,362: undetermined, kept in the upper bound. Note 4: “Uzun vadeli banka kredilerinin kısa vadeli kısmı” TRY 61,705,407: undetermined, kept in the upper bound. Note 4: “Uzun vadeli banka kredileri” TRY 277,632,707: undetermined, kept in the upper bound; “Uzun vadeli finansal kiralama borçlanmaları” TRY 159,228,657: not counted (proven). The ratio is in the range 0.40% to 19.67%; both bounds give the same result.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Diğer çeşitli borçlar · Other payables, note 645,892,320undetermined, kept in the upper boundTKBB Guideline 4.1
Kısa vadeli banka kredileri · Short-term borrowings, note 41,989,308,436undetermined, kept in the upper boundTKBB Guideline 6.1
Kısa vadeli finansal kiralama borçları · Short-term borrowings, note 482,917,103not counted (proven)TKBB Guideline 6.2
Faiz tahakkuku · Short-term borrowings, note 449,847,779counted in the ratio (proven)TKBB Guideline 6.1
Kredi kartı borçları · Short-term borrowings, note 4288,362undetermined, kept in the upper boundTKBB Guideline 6.1
Uzun vadeli banka kredilerinin kısa vadeli kısmı · Current portion of long-term borrowings, note 461,705,407undetermined, kept in the upper boundTKBB Guideline 6.1
Uzun vadeli banka kredileri · Long-term borrowings, note 4277,632,707undetermined, kept in the upper boundTKBB Guideline 6.1
Uzun vadeli finansal kiralama borçlanmaları · Long-term borrowings, note 4159,228,657not counted (proven)TKBB Guideline 6.2

KAFİF declaration 10.8% (first half 2026) · Sağlama range 0.4% to 19.7% (first half 2026) · the declaration is inside the range · View the form on KAP

Source: company financial report, first half 2026 statements · Jun 30, 2026

View the documentMethod

Interest-bearing assets

within the threshold
1.7%

Upper bound

Calculation and source

Calculation: numerator ÷ denominatorTRY 203,359,704÷TRY 12,323,816,434 (total assets)× 100

RatioInterest-bearing cash and securities / total assets

Upper bound. Asset items that may count as interest-bearing (line 5F of the KAFİF form) were taken in full from the public statements. Assets proven not to count (line 5G of the KAFİF form) were deducted as far as the notes prove them; items that could not be separated stayed in the numerator, as a precaution. The ratio is therefore an upper bound for the items shown in the financial statements. Note 10: “Yatırım fonu” TRY 436,302: undetermined, kept in the upper bound; “Kira sertifikası” TRY 0: not counted (proven); “Çağla girişim sermayesi yatırım fonu” TRY 9,518,852: undetermined, kept in the upper bound; “Tars girişim sermayesi yatırım fonu” TRY 8,317,054: undetermined, kept in the upper bound; “Preo girişim sermayesi yatırım fonu” TRY 7,469,126: undetermined, kept in the upper bound; “Yenilikçi ve ileri teknolojiler katılım girişim sermayesi yatırım fonu” TRY 5,801,445: not counted (proven); “İkinci katılım girişim sermayesi yatırım fonu” TRY 2,369,824: not counted (proven). Note 3: “Kasa” TRY 0: not counted (proven); “Bankalar / - Vadesiz mevduatlar” TRY 201,094,384: not counted (proven); “Bankalar / - Vadeli mevduatlar” TRY 175,707,944: counted in the ratio (proven); “Faiz tahakkuku” TRY 1,910,426: counted in the ratio (proven). The ratio is in the range 1.44% to 1.65%; both bounds give the same result.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Yatırım fonu · Financial investments, note 10436,302undetermined, kept in the upper boundTKBB Guideline 5.1
Kira sertifikası · Financial investments, note 100not counted (proven)TKBB Guideline 5.2
Çağla girişim sermayesi yatırım fonu · Financial investments, note 109,518,852undetermined, kept in the upper boundTKBB Guideline 5.1
Tars girişim sermayesi yatırım fonu · Financial investments, note 108,317,054undetermined, kept in the upper boundTKBB Guideline 5.1
Preo girişim sermayesi yatırım fonu · Financial investments, note 107,469,126undetermined, kept in the upper boundTKBB Guideline 5.1
Yenilikçi ve ileri teknolojiler katılım girişim sermayesi yatırım fonu · Financial investments, note 105,801,445not counted (proven)TKBB Guideline 5.1
İkinci katılım girişim sermayesi yatırım fonu · Financial investments, note 102,369,824not counted (proven)TKBB Guideline 5.1
Kasa · Cash and cash equivalents, note 30not counted (proven)TKBB Guideline 5.2
Bankalar / - Vadesiz mevduatlar · Cash and cash equivalents, note 3201,094,384not counted (proven)TKBB Guideline 5.2
Bankalar / - Vadeli mevduatlar · Cash and cash equivalents, note 3175,707,944counted in the ratio (proven)TKBB Guideline 5.1
Faiz tahakkuku · Cash and cash equivalents, note 31,910,426counted in the ratio (proven)TKBB Guideline 5.1

KAFİF declaration 1.4% (first half 2026) · Sağlama range 1.4% to 1.7% (first half 2026) · the declaration is inside the range · View the form on KAP

Source: company financial report, first half 2026 statements · Jun 30, 2026

View the documentMethod

Excluded income

within the threshold
4.0%

Measured on the items we can calculate

Calculation and source

Calculation: numerator ÷ denominatorTRY 75,168,256÷TRY 1,885,459,005 (total income)× 100

RatioExcluded income / total income

On the KAP form this item is titled “Katılım Finans İlkelerine Uygun Olmayan Gelir”, which means income not in line with participation finance principles.

Measured on the items we can calculate. Income items that may count as excluded (line 4C of the KAFİF form) were taken in full from the public statements. Income that the notes prove does not count (line 4D of the KAFİF form) was deducted. Items that could not be separated stayed in the numerator, as a precaution. For these income lines (line 4C), the ratio is an upper bound. Excluded income from business activities (line 4B of the KAFİF form) does not appear in the financial statements; it is only in the company's KAFİF declaration on KAP. This measurement sets it to 0. If there is a declaration, the record shows it separately, with a link. Note 21: “Kur farkı geliri” TRY 380,956,889: not counted (proven); “Reeskont gelirleri” TRY 19,565,804: undetermined, kept in the upper bound; “SGK Teşviği” TRY 7,503,897: undetermined, kept in the upper bound; “Sigorta tazminat gelirleri” TRY 465,002: not counted (proven); “Önceki dönem gelirleri” TRY 98,101: undetermined, kept in the upper bound; “Hurda satış gelirleri” TRY 0: not counted (proven); “Beklenen kredi zarar karşılığı iptali (Not 5)” TRY 0: undetermined, kept in the upper bound; “Diğer” TRY 9,971,901: undetermined, kept in the upper bound. Note 23: “Kur farkı gelirleri” TRY 25,490,898: not counted (proven); “Faiz gelirleri” TRY 30,247,463: counted in the ratio (proven). Note 22: “Menkul kıymet satış karları” TRY 5,176,198: undetermined, kept in the upper bound; “Menkul kıymet değer artışı (Not 10)” TRY 2,604,892: undetermined, kept in the upper bound; “Sabit kıymet satış karları” TRY 71,743: not counted (proven). The ratio is in the range 1.60% to 3.99%; both bounds give the same result.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Kur farkı geliri · Other income from operating activities, note 21380,956,889not counted (proven)TKBB Guideline 4.2
Reeskont gelirleri · Other income from operating activities, note 2119,565,804undetermined, kept in the upper boundTKBB Guideline 4.1
SGK Teşviği · Other income from operating activities, note 217,503,897undetermined, kept in the upper bound
Sigorta tazminat gelirleri · Other income from operating activities, note 21465,002not counted (proven)TKBB Guideline 4.2
Önceki dönem gelirleri · Other income from operating activities, note 2198,101undetermined, kept in the upper bound
Hurda satış gelirleri · Other income from operating activities, note 210not counted (proven)TKBB Guideline 4.2
Beklenen kredi zarar karşılığı iptali (Not 5) · Other income from operating activities, note 210undetermined, kept in the upper bound
Diğer · Other income from operating activities, note 219,971,901undetermined, kept in the upper boundTKBB Guideline 4.1
Kur farkı gelirleri · Finance income, note 2325,490,898not counted (proven)TKBB Guideline 4.2
Faiz gelirleri · Finance income, note 2330,247,463counted in the ratio (proven)TKBB Guideline 4.1
Menkul kıymet satış karları · Income from investing activities, note 225,176,198undetermined, kept in the upper boundTKBB Guideline 4.1
Menkul kıymet değer artışı (Not 10) · Income from investing activities, note 222,604,892undetermined, kept in the upper boundTKBB Guideline 4.1
Sabit kıymet satış karları · Income from investing activities, note 2271,743not counted (proven)TKBB Guideline 4.2

KAFİF declaration 1.6% (first half 2026) · Sağlama range 1.6% to 4.0% (first half 2026) · the declaration is inside the range · View the form on KAP

Source: company financial report, first half 2026 statements · Jun 30, 2026

View the documentMethod

The three ratios are calculated from the financial statements, and each bar is scaled to its own threshold. The measurement uses the company's latest published statements, and every record states the period. The official review uses audited six- and twelve-month statements (Standard 3.4), so the periods can differ. Method

This record is produced by Sağlama's calculation from the financial statements the company publishes. The method and the corrections log are public. Responsible for this record: Savaş Tutumlu, founder.

Official list record

Official list
On the BIST Participation All Shares list · Index period from October 2026 to April 2027Source: Borsa Istanbul's list of constituents, Oct 1, 2026
In these sub-indices
BIST Participation 30 · BIST Participation 30 Equal Weighted Return · BIST Participation 50 · BIST Participation 100
Changes this period
These shares are not among the changes Borsa Istanbul announced for this period.Source: Borsa Istanbul announcement, Sep 29, 2026
Next period
Starts on May 1, 2027. Borsa Istanbul is expected to announce the new list by April 29, 2027 at the latest (Ground Rules 2.17). Sağlama's expectation for each member is on the Review forecast page. This is a forecast, not the official list.

Status history

7 entries

Each period's record and every correction are kept with their dates. Method

  1. Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: at least one ratio above the threshold. Income 17.79% · assets 3.05% · loans 19.97%.
  2. Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: at least one ratio above the threshold. Income 21.92% · assets 3.05% · loans 20.62%.
  3. Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: depends on the company's declaration. Income 6.49% · assets 1.85% · loans 19.05%.
  4. Earlier measurementTKBB rules, August 2025, version 2 · Q1 2026: depends on the company's declaration. Income 6.49% · assets 1.85% · loans 19.05%.
  5. Earlier measurementTKBB rules, August 2025, version 2 · Q1 2026: depends on the company's declaration. Income 6.49% · assets 1.85% · loans 18.32%.
  6. Earlier measurementTKBB rules, August 2025, version 2 · first half 2026: all three ratios within the threshold. Income 3.99% · assets 1.65% · loans 19.87%.
  7. MeasurementTKBB rules, August 2025, version 3 · first half 2026: all three ratios within the threshold. Income 1.60% to 3.99% · assets 1.44% to 1.65% · loans 0.40% to 19.67%.THIS RECORD

Documents and sources

Source links lead to documents published by the company and by Borsa Istanbul. We do not copy KAP documents. Method

  • ALTNY financial report, Jun 30, 2026 (company investor relations site)Jun 30, 2026 · Fingerprint 0bea7fe03640…View the document
  • Sağlama's calculation and methodTKBB rules, August 2025, version 3Read the method

If a figure looks wrong, write to bilgi@saglama.com. We correct it and record the correction with its date in the corrections log.

What this measurement covers

Based on data as of this date, the three ratios we measure are within the TKBB thresholds.

The company's KAFİF declaration

The company's declaration on the KAP form (first half 2026): excluded income 1.6%, interest-bearing assets 1.4%, interest-bearing loans 10.8%. The three declared ratios are within the thresholds. View the form on KAP

The company's answers to the four yes/no questions on the form:

Do the articles of association of the company, its corporate shareholders or its affiliates include an activity that does not follow participation finance principles?
No
Do the company's articles of association grant a privilege that does not follow participation finance principles?
No
Has the company made a statement or decision supporting the actions defined in Standard 1.5 and TKBB Guideline 1.D?
No
Does the company have activities or income directly contrary to participation finance principles?
No

Purification calculation

Dividend-based method · CALCULATOR (DIVIDEND-BASED METHOD)

Purification calculator

A company within the threshold can still have a small amount of excluded income (interest income and other income the standard excludes). Under the TKBB standard, the part of this income that falls to your shares is given to charitable causes. This duty applies whether the company made a profit or a loss, and whether or not it paid a dividend. The amount set aside does not replace zakat or sadaqa.

CALCULATION SLIPALTNY · first half 2026
Number of shares
500
Gross dividend per share
TRY 2.40
Gross dividend (500 × 2.40)
TRY 1,200.00
Excluded income ratio
4.0%
Purification amount
TRY 47.88

Purification amount = gross dividend × excluded income ratio

The number of shares and the dividend are sample inputs. The ratio comes from the company's measurement. To calculate with your own figures, use the purification page.

Purification amount = gross dividend × excluded income ratio (dividend-based method). Under TKBB Standard 3.6.1, purification is needed even if the company makes a loss or pays no dividend. The method page quotes TKBB Standard 3.6, including the inflation deduction under 3.6.2. This is a cautious calculation. The amount may be higher than the true figure, because it uses all of the interest income, not only the part above inflation. The ratio is the upper bound of the measurement (the lower bound is 1.60%); the purification amount is calculated on the upper bound, as a precaution.

  • Excluded income is the part of a company's earnings that is not in line with participation finance principles. On the KAP form it is called “income not in line with participation finance principles.”
  • Purification is done even if the company makes a loss.
  • Purification is needed even if no dividend is paid. The calculation here uses the dividend-based method. TKBB Standard 3.6 also counts how long you held the shares (the share-days method), which this calculator does not do yet.
  • The purification amount does not replace zakat or sadaqa. Under the TKBB standard, it is given away, not kept.
  • You give the amount yourself, to a charitable cause of your choice. Sağlama does not direct donations.

This calculation uses the dividend-based method. TKBB Standard 3.6 also counts how long you held the shares (the share-days method). The standard is quoted on the method page.

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Companies in the same index

The 12 companies just before and after this one in alphabetical order in BIST Participation 30.