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Sağlama record · BIST: CVKMD

CVK Maden

CVK Maden (CVKMD) 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-2026-3A-CVKMD

The reading of all three ratios in the financial statements for Q1 2026 is not complete; the ratios rest on the items read. The statements will be read again, and the record's result will be given after that.

This is a measurement, not a religious ruling.

MEASUREMENT TABLE

Interest-bearing loans

statements to be read again
43.1%

On the items read: 0.0% to 43.1%

Calculation and source

Calculation: numerator ÷ denominatorTRY 10,797,173,476÷TRY 25,077,675,910 (total assets)× 100

RatioInterest-bearing loans / total assets

This range rests on the items read from the financial statements, and the statements will be read again.

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. The ratio rests on the items read from the financial statements; the statements will be read again. Note 10: “Ödenecek vergi ve fonlar” TRY 6,516,834: not counted (proven); “Ruhsat alımından kaynaklanan borçlar” TRY 133,428,300: undetermined, kept in the numerator; “Ortaklara borçlar (Not 5)” TRY 1,061,840,510: undetermined, kept in the numerator; “Arsa sahiplerine olan borçlar (c)” TRY 18,434,868: undetermined, kept in the numerator; “Diğer borçlar (d)” TRY 1,349,738,086: undetermined, kept in the numerator; “Alınan depozito ve garantiler” TRY 4,295,437: undetermined, kept in the numerator; “Ruhsat alımından kaynaklanan borçlar” TRY 533,713,200: undetermined, kept in the numerator; “Diğer borçlar (d)” TRY 4,279,258,384: undetermined, kept in the numerator. Note 8: “Kısa vadeli banka kredileri” TRY 1,397,268,705: undetermined, kept in the numerator. Note 8: “Kiralamalardan kaynaklanan borçlar” TRY 2,357,124: not counted (proven); “Kısa vadeli finansal kiralama borçları, net” TRY 82,351,905: not counted (proven); “Uzun vadeli kredilerin kısa vadeye ait kısmı” TRY 789,231,579: undetermined, kept in the numerator. Note 8: “Uzun vadeli banka kredileri” TRY 1,229,964,407: undetermined, kept in the numerator; “Uzun vadeli finansal kiralama borçları, net” TRY 190,642,521: not counted (proven). On the items read, the measured range is 0.00% to 43.05%.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Ödenecek vergi ve fonlar · Other payables, note 106,516,834not counted (proven)TKBB Guideline 6.2
Ruhsat alımından kaynaklanan borçlar · Other payables, note 10133,428,300undetermined, kept in the numerator
Ortaklara borçlar (Not 5) · Other payables, note 101,061,840,510undetermined, kept in the numeratorTKBB Guideline 6.1
Arsa sahiplerine olan borçlar (c) · Other payables, note 1018,434,868undetermined, kept in the numerator
Diğer borçlar (d) · Other payables, note 101,349,738,086undetermined, kept in the numeratorTKBB Guideline 4.1
Alınan depozito ve garantiler · Other payables, note 104,295,437undetermined, kept in the numeratorTKBB Guideline 6.1
Ruhsat alımından kaynaklanan borçlar · Other payables, note 10533,713,200undetermined, kept in the numerator
Diğer borçlar (d) · Other payables, note 104,279,258,384undetermined, kept in the numeratorTKBB Guideline 4.1
Kısa vadeli banka kredileri · Short-term borrowings, note 81,397,268,705undetermined, kept in the numeratorTKBB Guideline 6.1
Kiralamalardan kaynaklanan borçlar · Current portion of long-term borrowings, note 82,357,124not counted (proven)TKBB Guideline 6.2
Kısa vadeli finansal kiralama borçları, net · Current portion of long-term borrowings, note 882,351,905not counted (proven)TKBB Guideline 6.2
Uzun vadeli kredilerin kısa vadeye ait kısmı · Current portion of long-term borrowings, note 8789,231,579undetermined, kept in the numeratorTKBB Guideline 6.1
Uzun vadeli banka kredileri · Long-term borrowings, note 81,229,964,407undetermined, kept in the numeratorTKBB Guideline 6.1
Uzun vadeli finansal kiralama borçları, net · Long-term borrowings, note 8190,642,521not counted (proven)TKBB Guideline 6.2

KAFİF declaration 12.5% (first half 2026) · Sağlama measurement on the items read 0.0% to 43.1% (Q1 2026) · the statements will be read again · View the form on KAP

Source: company financial report, Q1 2026 statements · Mar 31, 2026

View the documentMethod

Interest-bearing assets

statements to be read again
1.3%

Measured on the items read

Calculation and source

Calculation: numerator ÷ denominatorTRY 334,297,873÷TRY 25,077,675,910 (total assets)× 100

RatioInterest-bearing cash and securities / total assets

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 rests on the items read from the financial statements; the statements will be read again. Note 7: “Blokeli mevduatlar” TRY 0: undetermined, kept in the numerator. Note 6: “Kasa” TRY 3,787,549: not counted (proven); “Bankalar / Vadeli mevduat” TRY 0: counted in the ratio (proven); “Bankalar / Vadesiz mevduat” TRY 568,876,135: not counted (proven); “Likit fonlar” TRY 334,297,873: undetermined, kept in the numerator. On the items read, the measured range is 0.00% to 1.33%.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Blokeli mevduatlar · Financial investments, note 70undetermined, kept in the numeratorTKBB Guideline 5.1
Kasa · Cash and cash equivalents, note 63,787,549not counted (proven)TKBB Guideline 5.2
Bankalar / Vadeli mevduat · Cash and cash equivalents, note 60counted in the ratio (proven)TKBB Guideline 5.1
Bankalar / Vadesiz mevduat · Cash and cash equivalents, note 6568,876,135not counted (proven)TKBB Guideline 5.2
Likit fonlar · Cash and cash equivalents, note 6334,297,873undetermined, kept in the numeratorTKBB Guideline 5.1

KAFİF declaration 0.9% (first half 2026) · Sağlama measurement on the items read 0.0% to 1.3% (Q1 2026) · the statements will be read again · View the form on KAP

Source: company financial report, Q1 2026 statements · Mar 31, 2026

View the documentMethod

Excluded income

statements to be read again
12.4%

On the items read: 4.7% to 12.4%

Calculation and source

Calculation: numerator ÷ denominatorTRY 114,909,946÷TRY 930,064,668 (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.

This range rests on the items read from the financial statements, and the statements will be read again.

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. The ratio rests on the items read from the financial statements; the statements will be read again. 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 27.1: “Konusu kalmayan karşılıklar” TRY 16,199,401: not counted (proven); “Ticari faaliyetlerden kur farkı gelirleri” TRY 17,081,050: not counted (proven); “Reeskont gelirleri” TRY 6,670,326: undetermined, kept in the numerator; “Ticari faaliyetlerden elde edilen vade farkı geliri” TRY 0: not counted (proven); “Diğer gelirler” TRY 64,066,490: undetermined, kept in the numerator. Note 29.1: “Faiz gelirleri” TRY 42,732,714: counted in the ratio (proven); “Kur farkı gelirleri” TRY 67,056,147: not counted (proven). Note 28.1: “Sabit kıymet satış karı” TRY 563,037: not counted (proven); “Menkul kıymet satış ve değerleme karları” TRY 449,274: undetermined, kept in the numerator; “Yatırım amaçlı gayrimenkul kira gelirleri” TRY 1,976,571: not counted (proven); “Ticari olmayan alacaklardan adat gelirleri (Not 5)” TRY 991,142: counted in the ratio (proven). On the items read, the measured range is 4.70% to 12.36%.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Konusu kalmayan karşılıklar · Other income from operating activities, note 27.116,199,401not counted (proven)TKBB Guideline 4.2
Ticari faaliyetlerden kur farkı gelirleri · Other income from operating activities, note 27.117,081,050not counted (proven)TKBB Guideline 4.2
Reeskont gelirleri · Other income from operating activities, note 27.16,670,326undetermined, kept in the numeratorTKBB Guideline 4.1
Ticari faaliyetlerden elde edilen vade farkı geliri · Other income from operating activities, note 27.10not counted (proven)TKBB Guideline 4.2
Diğer gelirler · Other income from operating activities, note 27.164,066,490undetermined, kept in the numeratorTKBB Guideline 4.1
Faiz gelirleri · Finance income, note 29.142,732,714counted in the ratio (proven)TKBB Guideline 4.1
Kur farkı gelirleri · Finance income, note 29.167,056,147not counted (proven)TKBB Guideline 4.2
Sabit kıymet satış karı · Income from investing activities, note 28.1563,037not counted (proven)TKBB Guideline 4.2
Menkul kıymet satış ve değerleme karları · Income from investing activities, note 28.1449,274undetermined, kept in the numeratorTKBB Guideline 4.1
Yatırım amaçlı gayrimenkul kira gelirleri · Income from investing activities, note 28.11,976,571not counted (proven)TKBB Guideline 4.2
Ticari olmayan alacaklardan adat gelirleri (Not 5) · Income from investing activities, note 28.1991,142counted in the ratio (proven)TKBB Guideline 4.1

KAFİF declaration 2.1% (first half 2026) · Sağlama measurement on the items read 4.7% to 12.4% (Q1 2026) · the statements will be read again · View the form on KAP

Source: company financial report, Q1 2026 statements · Mar 31, 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

5 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 23.42% · assets 3.62% · loans 44.18%.
  2. Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: depends on the company's declaration. Income 12.36% · assets 1.33% · loans 43.39%.
  3. Earlier measurementTKBB rules, August 2025, version 2 · Q1 2026: depends on the company's declaration. Income 12.36% · assets 1.33% · loans 43.39%.
  4. Earlier measurementTKBB rules, August 2025, version 2 · Q1 2026: depends on the company's declaration. Income 12.36% · assets 1.33% · loans 43.05%.
  5. MeasurementTKBB rules, August 2025, version 3 · Q1 2026: statements to be read again. Income 4.70% to 12.36% · assets 0.00% to 1.33% · loans 0.00% to 43.05%. The ratios rest on the items read.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

  • CVKMD financial report, Mar 31, 2026 (company investor relations site)Mar 31, 2026 · Fingerprint c2eb42db8be8… · fingerprint of the downloaded file 82d04925a92b…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

This record's financial statements will be read again. The ratios rest on the items read; the record's result will be given after the new reading. Method

The company's KAFİF declaration

The company's declaration on the KAP form (first half 2026): excluded income 2.1%, interest-bearing assets 0.9%, interest-bearing loans 12.5%. 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 SLIPCVKMD · Q1 2026
Number of shares
500
Gross dividend per share
TRY 2.40
Gross dividend (500 × 2.40)
TRY 1,200.00
Excluded income ratio
12.4%
Purification amount
TRY 148.32

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. The ratio rests on the items read; the statements will be read again, so the ratio and the amount may change. On the items read, the measured range is 4.70% to 12.36%; the purification amount is calculated with the 12.36% found from the items read.

  • 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.