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Sağlama record · BIST: ENJSA

Enerjisa Enerji

Enerjisa Enerji (ENJSA) 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, BIST Participation 100 and BIST Participation Sustainability indices.

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

The reading of the interest-bearing loans ratio in the financial statements for the first half of 2026 is not complete; the ratio rests 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
40.1%

On the items read: 16.6% to 40.1%

Calculation and source

Calculation: numerator ÷ denominatorTRY 111,057,410,000÷TRY 277,069,160,000 (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.

TRY 2,258,011 thousand that is proven not to count was deducted from the debt numerator (source: Note 21). As a precaution, financial liabilities other than leases shown on separate lines outside the main debt total were added once, after they were confirmed against their section total. This is an assumption: it is not proven that these items carry interest. The ratio rests on the items read from the financial statements; the statements will be read again. Note 7: “Alınan depozitolar (*)” TRY 17,492,539 thousand: undetermined, kept in the numerator; “Aydınlatma borçları” TRY 6,000 thousand: undetermined, kept in the numerator; “Diğer borçlar (**)” TRY 611,298 thousand: undetermined, kept in the numerator. Note 21: “Kısa vadeli krediler” TRY 9,994,333 thousand: undetermined, kept in the numerator. Note 21: “Uzun vadeli kiralama borçlarının kısa vadeli kısımları” TRY 467,623 thousand: not counted (proven); “Uzun vadeli tahvillerin kısa vadeli kısımları” TRY 26,851,941 thousand: counted in the ratio (proven); “Uzun vadeli kredilerin kısa vadeli kısımları” TRY 7,566,229 thousand: undetermined, kept in the numerator. Note 21: “Uzun vadeli krediler” TRY 27,224,538 thousand: undetermined, kept in the numerator; “Uzun vadeli kiralama borçları” TRY 1,790,388 thousand: not counted (proven); “İhraç edilen tahviller” TRY 19,250,000 thousand: counted in the ratio (proven). On the items read, the measured range is 16.64% to 40.08%.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY thousand)ClassBasis
Alınan depozitolar (*) · Other payables, note 7The company's note says: “Grup, EPS için 31 Mart 2006, AYESAŞ ve TOROSLAR EPSAŞ (Not 1) için 24 Temmuz 2006 tarihinden sonra abone olan müşterilerden abonelik işlemleri için TEDAŞ adına teminat almaktadır. Müşterilerden EPDK tarafından açıklanan tutarlar üzerinden alınan teminatlar söz konusu değerler üzerinden muhasebeleştirilir.”17,492,539undetermined, kept in the numeratorTKBB Guideline 6.1
Aydınlatma borçları · Other payables, note 76,000undetermined, kept in the numerator
Diğer borçlar (**) · Other payables, note 7The company's note says: “Diğer borçlar ağırlıklı olarak müşteri cezalarına ilişkin yükümlülükler ve mevzuat kapsamında Dağıtım Şirketleri’nden tahsil edilen ve abonelerin faturalarından mahsup edilecek ticari kalite tazminatlarından oluşmaktadır.”611,298undetermined, kept in the numeratorTKBB Guideline 4.1
Kısa vadeli krediler · Short-term borrowings, note 219,994,333undetermined, kept in the numeratorTKBB Guideline 6.1
Uzun vadeli kiralama borçlarının kısa vadeli kısımları · Current portion of long-term borrowings, note 21467,623not counted (proven)TKBB Guideline 6.2
Uzun vadeli tahvillerin kısa vadeli kısımları · Current portion of long-term borrowings, note 2126,851,941counted in the ratio (proven)TKBB Guideline 6.1
Uzun vadeli kredilerin kısa vadeli kısımları · Current portion of long-term borrowings, note 217,566,229undetermined, kept in the numeratorTKBB Guideline 6.1
Uzun vadeli krediler · Long-term borrowings, note 2127,224,538undetermined, kept in the numeratorTKBB Guideline 6.1
Uzun vadeli kiralama borçları · Long-term borrowings, note 211,790,388not counted (proven)TKBB Guideline 6.2
İhraç edilen tahviller · Long-term borrowings, note 2119,250,000counted in the ratio (proven)TKBB Guideline 6.1

KAFİF declaration 33.8% (first half 2026) · Sağlama measurement on the items read 16.6% to 40.1% (first half 2026) · the statements will be read again · 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
2.7%

Upper bound

Calculation and source

Calculation: numerator ÷ denominatorTRY 7,591,653,000÷TRY 277,069,160,000 (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 24: “Bankadaki nakit / Vadesiz mevduatlar” TRY 4,586,617 thousand: not counted (proven); “Bankadaki nakit / Vadeli mevduatlar” TRY 7,591,583 thousand: counted in the ratio (proven). The lower and upper bounds are the same: 2.74%.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY thousand)ClassBasis
Bankadaki nakit / Vadesiz mevduatlar · Cash and cash equivalents, note 244,586,617not counted (proven)TKBB Guideline 5.2
Bankadaki nakit / Vadeli mevduatlar · Cash and cash equivalents, note 247,591,583counted in the ratio (proven)TKBB Guideline 5.1

KAFİF declaration 2.7% (first half 2026) · Sağlama range 2.7% to 2.7% (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

depends on the declaration
at most6.1%

Proven lower bound 4.9% · cautious upper bound 6.1%

Calculation and source

Calculation: numerator ÷ denominatorTRY 7,584,470,000÷TRY 125,309,060,000 (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.

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.

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 17: “Tarife alacaklarıyla ilgili faiz geliri - net (Not 24) (*)” TRY 3,206,049 thousand: counted in the ratio (proven); “Vadesi geçmiş elektrik alacaklarından elde edilen faiz geliri” TRY 1,023,912 thousand: undetermined, kept in the upper bound; “Kaçak elektrik cezaları” TRY 642,504 thousand: not counted (proven); “Finansal varlıklar değer düşüklüğü karşılığı iptali (Not 8) (**)” TRY 6,145 thousand: undetermined, kept in the upper bound; “Kira ve reklam gelirleri” TRY 1,125 thousand: undetermined, kept in the upper bound; “Dava gelirleri” TRY 0 thousand: not counted (proven); “Diğer gelirler” TRY 422,196 thousand: undetermined, kept in the upper bound. Note 18: “Faiz gelirleri” TRY 2,925,043 thousand: counted in the ratio (proven). The ratio is in the range 4.89% to 6.05%; the outcome depends on the company's declaration.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY thousand)ClassBasis
Tarife alacaklarıyla ilgili faiz geliri - net (Not 24) (*) · Other income from operating activities, note 173,206,049counted in the ratio (proven)TKBB Guideline 4.1
Vadesi geçmiş elektrik alacaklarından elde edilen faiz geliri · Other income from operating activities, note 171,023,912undetermined, kept in the upper boundTKBB Guideline 4.2
Kaçak elektrik cezaları · Other income from operating activities, note 17642,504not counted (proven)TKBB Guideline 4.2
Finansal varlıklar değer düşüklüğü karşılığı iptali (Not 8) (**) · Other income from operating activities, note 176,145undetermined, kept in the upper boundTKBB Guideline 4.1
Kira ve reklam gelirleri · Other income from operating activities, note 171,125undetermined, kept in the upper bound
Dava gelirleri · Other income from operating activities, note 170not counted (proven)TKBB Guideline 4.2
Diğer gelirler · Other income from operating activities, note 17422,196undetermined, kept in the upper boundTKBB Guideline 4.1
Faiz gelirleri · Finance income, note 182,925,043counted in the ratio (proven)TKBB Guideline 4.1

KAFİF declaration 5.1% (first half 2026) · Sağlama range 4.9% to 6.1% (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 · BIST Participation Sustainability
Not in these sub-indices
BIST Participation Dividend
Latest official change

Added to the BIST Participation 30 index as of October 1, 2026, for the period from October 2026 to April 2027. Source: Borsa Istanbul announcement, Sep 29, 2026 · KAP disclosure 1669816

All changes for the period from October 2026 to April 2027

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: at least one ratio above the threshold. Income 5.70% · assets 7.34% · loans 42.65%.
  2. Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: depends on the company's declaration. Income 5.70% · assets 6.64% · loans 41.96%.
  3. Earlier measurementTKBB rules, August 2025, version 2 · Q1 2026: depends on the company's declaration. Income 5.16% · assets 6.64% · loans 41.96%.
  4. Earlier measurementTKBB rules, August 2025, version 2 · Q1 2026: depends on the company's declaration. Income 5.16% · assets 6.64% · loans 41.82%.
  5. Earlier measurementTKBB rules, August 2025, version 2 · first half 2026: depends on the company's declaration. Income 6.05% · assets 2.74% · loans 40.08%.
  6. MeasurementTKBB rules, August 2025, version 3 · first half 2026: statements to be read again. Income 4.89% to 6.05% · assets 2.74% · loans 16.64% to 40.08%. 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

  • ENJSA financial report, Jun 30, 2026 (company investor relations site)Jun 30, 2026 · Fingerprint 97da525c300b…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 5.1%, interest-bearing assets 2.7%, interest-bearing loans 33.8%. The company's own declaration puts at least one ratio above the threshold, but within the tolerance band. The rules allow a wait of one period; if the previous review also found a ratio above the threshold, the member leaves. View the form on KAP Review forecast

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 SLIPENJSA · 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
6.1%
Purification amount
TRY 72.60

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 4.89%); 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.