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Sağlama record · BIST: EKSUN

Eksun Gıda

Eksun Gıda (EKSUN) 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.

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

Based on the financial statements for the first half of 2026, the interest-bearing loans ratio depends on the company's declaration: the proven amount alone gives a ratio below the threshold, and the cautious upper bound is above it.

This is a measurement, not a religious ruling.

MEASUREMENT TABLE

Interest-bearing loans

depends on the declaration
at most41.9%

Proven lower bound 0.0% · cautious upper bound 41.9%

Calculation and source

Calculation: numerator ÷ denominatorTRY 2,595,659,525÷TRY 6,202,618,621 (total assets)× 100

RatioInterest-bearing loans / total assets

The measurement is a range. The lower bound counts only the amounts that the statements and notes prove; the upper bound also counts, as a precaution, every item that could not be proven. The threshold falls inside this range, so the outcome depends on the company's KAFİF declaration.

Upper bound. Debt items that may count as interest-bearing (line 6I of the KAFİF form) were taken in full from the public statements. Of the lease liabilities shown on the balance sheet, TRY 27,837,697 are debts that do not count under TKBB Guideline 6.2, so they were deducted from the debt numerator (source: balance sheet, page 5). Deductions on line 6J of the company's KAFİF declaration are taken only when the financial statements or notes confirm them. The ratio is therefore an upper bound for the items shown in the financial statements. (Loans from participation banks and lease certificates (sukuk) are deducted only when a note shows them separately; none of them was deducted in this measurement.) Note 7: “İlişkili taraflara diğer borçlar*” TRY 417,118,394: undetermined, kept in the upper bound; “Diğer borçlar” TRY 638,269: undetermined, kept in the upper bound. Notes that could not be used: Note 4 (Short-term borrowings): the note's amounts could not be matched to this item automatically. Note 4 (Current portion of long-term borrowings): the note's amounts could not be matched to this item automatically. Note 4 (Long-term borrowings): the note's amounts could not be matched to this item automatically. The ratio is in the range 0.00% to 41.85%; the outcome depends on the company's declaration.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
İlişkili taraflara diğer borçlar* · Other payables, note 7The company's note says: “İlişkili taraflara ait bakiyeler Not 28‘de açıklanmıştır.”417,118,394undetermined, kept in the upper boundTKBB Guideline 6.1
Diğer borçlar · Other payables, note 7638,269undetermined, kept in the upper boundTKBB Guideline 4.1

KAFİF declaration 0.0% (first half 2026) · Sağlama range 0.0% to 41.9% (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
2.9%

Upper bound

Calculation and source

Calculation: numerator ÷ denominatorTRY 182,592,603÷TRY 6,202,618,621 (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 5: “Eksim Ventures Girişim Sermayesi” TRY 12,773,156: undetermined, kept in the upper bound; “Kuveyt Türk Portföy Lonca Girişim Sermayesi” TRY 473,638: not counted (proven). Notes that could not be used: Note 3 (Cash and cash equivalents): a subtotal in the note could not be matched to the lines read automatically. The ratio is in the range 0.00% to 2.94%; both bounds give the same result.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Eksim Ventures Girişim Sermayesi · Financial investments, note 512,773,156undetermined, kept in the upper bound
Kuveyt Türk Portföy Lonca Girişim Sermayesi · Financial investments, note 5473,638not counted (proven)TKBB Guideline 5.2

KAFİF declaration 0.0% (first half 2026) · Sağlama range 0.0% to 2.9% (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
0.2%

Measured on the items we can calculate

Calculation and source

Calculation: numerator ÷ denominatorTRY 13,699,124÷TRY 6,325,998,724 (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 gelirleri” TRY 52,616,853: not counted (proven); “Konusu kalmayan şüpheli alacaklar” TRY 34,553,110: not counted (proven); “Reeskont gelirleri” TRY 4,663,285: undetermined, kept in the upper bound; “Komisyon gelirleri” TRY 1,754,506: undetermined, kept in the upper bound; “Kira gelirleri” TRY 462,395: not counted (proven); “Diğer gelirler” TRY 5,124,112: undetermined, kept in the upper bound. Note 24: “Katılım hesabı gelirleri” TRY 79,645,948: not counted (proven); “Kur farkı gelirleri” TRY 1,128,712: not counted (proven). Note 23: “Finansal yatırımlar gerçeğe uygun değer farkları” TRY 2,134,634: undetermined, kept in the upper bound; “Menkul kıymet satış karları” TRY 22,587: undetermined, kept in the upper bound; “Maddi duran varlık satış karları” TRY 7,398: not counted (proven). The ratio is in the range 0.00% to 0.22%; both bounds give the same result.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Kur farkı gelirleri · Other income from operating activities, note 2152,616,853not counted (proven)TKBB Guideline 4.2
Konusu kalmayan şüpheli alacaklar · Other income from operating activities, note 2134,553,110not counted (proven)TKBB Guideline 4.2
Reeskont gelirleri · Other income from operating activities, note 214,663,285undetermined, kept in the upper boundTKBB Guideline 4.1
Komisyon gelirleri · Other income from operating activities, note 211,754,506undetermined, kept in the upper bound
Kira gelirleri · Other income from operating activities, note 21462,395not counted (proven)TKBB Guideline 4.2
Diğer gelirler · Other income from operating activities, note 215,124,112undetermined, kept in the upper boundTKBB Guideline 4.1
Katılım hesabı gelirleri · Finance income, note 2479,645,948not counted (proven)TKBB Guideline 4.2
Kur farkı gelirleri · Finance income, note 241,128,712not counted (proven)TKBB Guideline 4.2
Finansal yatırımlar gerçeğe uygun değer farkları · Income from investing activities, note 232,134,634undetermined, kept in the upper boundTKBB Guideline 4.1
Menkul kıymet satış karları · Income from investing activities, note 2322,587undetermined, kept in the upper boundTKBB Guideline 4.1
Maddi duran varlık satış karları · Income from investing activities, note 237,398not counted (proven)TKBB Guideline 4.2

KAFİF declaration 0.0% (first half 2026) · Sağlama range 0.0% to 0.2% (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
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

6 entries

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

  1. Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: all three ratios within the threshold. Income 2.27% · assets 4.78% · loans 5.63%.
  2. Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: all three ratios within the threshold. Income 0.13% · assets 4.77% · loans 5.63%.
  3. Earlier measurementTKBB rules, August 2025, version 2 · Q1 2026: all three ratios within the threshold. Income 0.13% · assets 4.77% · loans 5.63%.
  4. Earlier measurementTKBB rules, August 2025, version 2 · first half 2026: all three ratios within the threshold. Income 0.22% · assets 2.94% · loans 7.18%.
  5. MeasurementTKBB rules, August 2025, version 3 · first half 2026: depends on the company's declaration. Income 0.00% to 0.22% · assets 0.00% to 2.94% · loans 0.00% to 41.85%. The range crosses the threshold; the outcome depends on the company's declaration.
  6. MeasurementCorrection note. Bank loans and other short-term borrowings (TRY 2,177,902,862 in total) were missing from the debt numerator: the upper bound of the ratio is 41.85%, not 7.18%. In the same release, the lease liabilities on the balance sheet (TRY 27,837,697) were deducted as debts that do not count under TKBB Guideline 6.2 (rules version 3). The upper bound is above the threshold (33%) and the band limit (36.3%); the record's result changed from “All three ratios within the threshold” to “Depends on the company's declaration”.THIS RECORD

Corrections log

  • Note added · closed

    Bank loans and other short-term borrowings (TRY 2,177,902,862 in total) were missing from the debt numerator: the upper bound of the ratio is 41.85%, not 7.18%. In the same release, the lease liabilities on the balance sheet (TRY 27,837,697) were deducted as debts that do not count under TKBB Guideline 6.2 (rules version 3). The upper bound is above the threshold (33%) and the band limit (36.3%); the record's result changed from “All three ratios within the threshold” to “Depends on the company's declaration”.

    In Turkish, as published.30.06.2026 konsolide finansal durum tablosu (sayfa 5) borçlanmaları «Kısa/Uzun vadeli borçlanmalar» başlığı olmadan ayrı satırlarda gösterir: «Banka kredileri» (kısa vadeli 1.715.632.834 TL, uzun vadeli 411.290.732 TL), «Uzun vadeli banka kredilerinin kısa vadeli kısımları» (50.938.333 TL) ve «Diğer kısa vadeli borçlanmalar» (40.963 TL; dipnot 4'e göre kredi kartı borçları). Önceki okuma aracı bu satırları borç dışı kalem saymıştı. Tutarlar dipnot 4'teki finansal borçlar tablosuyla aynıdır (sayfa 25). Kısa ve uzun vadeli bölümlerin ana satırları bu satırlarla birlikte bölüm toplamlarına (2.942.710.522 TL ve 521.091.089 TL) birebir eşittir; satırlar başka bir kalemin alt satırı değildir. Yenilenen okuma aracı bu satırları borç payına alır. Kural seti sürüm 3 ile bilançodaki kiralama yükümlülükleri (kısa vadeli 22.133.417 TL, uzun vadeli 5.704.280 TL) Rehber 6.2 gereği uygun borç olarak düşülür: pay 2.595.659.525 TL / toplam varlıklar 6.202.618.621 TL ≈ %41,85. Dipnot 4 ve 25 kredilerin maliyetini kâr payı olarak adlandırır (sayfa 25 ve 38); dipnotlar krediyi veren bankaları adlandırmadığı için krediler üst sınırda kalır. Şirketin aynı döneme ait KAFİF beyanı borç oranını %0,00 bildirir; beyandaki I tablosunun toplamı (2.623.456.259 TL), kiralama indiriminden önceki şüpheli borç toplamıyla (2.623.497.222 TL) 40.963 TL kredi kartı satırı dışında aynıdır. Ölçüm üst sınırdır ve karar beyana bağlıdır.

    Closing note: The corrected measurement was published in the same release as this note. The upper bound of the debt ratio was updated from 7.18% to 41.85%; the record's result became “Depends on the company's declaration”.

    Evidence: 63922819113301406530062026-Tarihli-Finansal-Tablo-ve-Dipnotlari.pdf · PDF p. 5, 25, 38 · Fingerprint d148629785e3…

Documents and sources

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

  • EKSUN financial report, Jun 30, 2026 (company investor relations site)Jun 30, 2026 · Fingerprint d148629785e3…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 result says nothing about the quality of the company. It only shows where a measured ratio stands against the threshold.

The measured range crosses the threshold: the proven amount is below the threshold and the cautious upper bound is above it. The outcome depends on the company's KAFİF declaration, so this record does not count as a divergence. Method

The company's KAFİF declaration

The company's declaration on the KAP form (first half 2026): excluded income 0.0%, interest-bearing assets 0.0%, interest-bearing loans 0.0%. The three declared ratios are within the thresholds; the declaration settles the open range of the measurement. 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 SLIPEKSUN · 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
0.2%
Purification amount
TRY 2.64

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 0.00%); 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 All Shares.