Is KOPOL stock in the BIST participation index? Koza Polyester

Based on the financial statements for the first half of 2026, the excluded income ratio is above the threshold.

This is a measurement, not a religious ruling.

Interest-bearing loans

within the threshold

21.6%

Upper bound

Calculation and source

Calculation: numerator ÷ denominatorTRY 2,169,523,665÷TRY 10,024,645,315 (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. The ratio in the company's KAFİF declaration for the same period (21.69%) is above this measurement. Note 7: “Ödenecek vergi ve fonlar” TRY 5,276,276: not counted (proven); “İlişkili taraflara borçlar (Not 3)” TRY 17,272: undetermined, kept in the upper bound; “Diğer çeşitli borçlar” TRY 40,549: undetermined, kept in the upper bound; “Avans olarak verilen borç senetleri” TRY 85,971,907: undetermined, kept in the upper bound. Note 5: “Kısa vadeli banka kredileri” TRY 1,874,797,015: undetermined, kept in the upper bound; “Diğer mali borçlar (kredi kartları)” TRY 39,106: undetermined, kept in the upper bound. Note 5: “Kiralama işlemlerinden borçlar” TRY 3,588,686: not counted (proven); “Uzun vadeli kredilerin kısa vadeye ait kısmı” TRY 99,779,823: undetermined, kept in the upper bound; “Finansal kiralama işlemlerinden borçlar” TRY 0: not counted (proven). Note 5: “Uzun vadeli banka kredileri” TRY 108,877,993: undetermined, kept in the upper bound; “Uzun vadeli kiralama işlemlerinden borçlar” TRY 531,120,620: not counted (proven). The ratio is in the range 0.00% to 21.64%; both bounds give the same result.

Breakdown from the notes
Item, as written in the company's report	Amount (TRY)	Class	Basis
Ödenecek vergi ve fonlar · Other payables, note 7	5,276,276	not counted (proven)	TKBB Guideline 6.2
İlişkili taraflara borçlar (Not 3) · Other payables, note 7	17,272	undetermined, kept in the upper bound	TKBB Guideline 6.1
Diğer çeşitli borçlar · Other payables, note 7	40,549	undetermined, kept in the upper bound	TKBB Guideline 4.1
Avans olarak verilen borç senetleri · Other payables, note 7	85,971,907	undetermined, kept in the upper bound
Kısa vadeli banka kredileri · Short-term borrowings, note 5	1,874,797,015	undetermined, kept in the upper bound	TKBB Guideline 6.1
Diğer mali borçlar (kredi kartları) · Short-term borrowings, note 5	39,106	undetermined, kept in the upper bound	TKBB Guideline 6.1
Kiralama işlemlerinden borçlar · Current portion of long-term borrowings, note 5	3,588,686	not counted (proven)	TKBB Guideline 6.2
Uzun vadeli kredilerin kısa vadeye ait kısmı · Current portion of long-term borrowings, note 5	99,779,823	undetermined, kept in the upper bound	TKBB Guideline 6.1
Finansal kiralama işlemlerinden borçlar · Current portion of long-term borrowings, note 5	0	not counted (proven)	TKBB Guideline 6.2
Uzun vadeli banka kredileri · Long-term borrowings, note 5	108,877,993	undetermined, kept in the upper bound	TKBB Guideline 6.1
Uzun vadeli kiralama işlemlerinden borçlar · Long-term borrowings, note 5	531,120,620	not counted (proven)	TKBB Guideline 6.2

KAFİF declaration 21.7% (first half 2026) · Sağlama range 0.0% to 21.6% (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 document Method

Interest-bearing assets

within the threshold

0.6%

Upper bound

Calculation and source

Calculation: numerator ÷ denominatorTRY 56,782,892÷TRY 10,024,645,315 (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 4: “Kasa” TRY 107,310: not counted (proven); “Bankalar / Vadeli mevduat” TRY 50,000,000: counted in the ratio (proven); “Bankalar / Vadesiz mevduat” TRY 25,302,176: not counted (proven); “Yatırım fonları” TRY 0: undetermined, kept in the upper bound; “Diğer hazır değerler” TRY 6,782,892: undetermined, kept in the upper bound. The ratio is in the range 0.50% to 0.57%; both bounds give the same result.

Breakdown from the notes
Item, as written in the company's report	Amount (TRY)	Class	Basis
Kasa · Cash and cash equivalents, note 4	107,310	not counted (proven)	TKBB Guideline 5.2
Bankalar / Vadeli mevduat · Cash and cash equivalents, note 4	50,000,000	counted in the ratio (proven)	TKBB Guideline 5.1
Bankalar / Vadesiz mevduat · Cash and cash equivalents, note 4	25,302,176	not counted (proven)	TKBB Guideline 5.2
Yatırım fonları · Cash and cash equivalents, note 4	0	undetermined, kept in the upper bound	TKBB Guideline 5.1
Diğer hazır değerler · Cash and cash equivalents, note 4	6,782,892	undetermined, kept in the upper bound	TKBB Guideline 4.1

KAFİF declaration 0.6% (first half 2026) · Sağlama range 0.5% to 0.6% (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 document Method

Excluded income

above the threshold

8.8%

Measured on the items we can calculate

Calculation and source

Calculation: numerator ÷ denominatorTRY 297,684,972÷TRY 3,389,157,728 (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 24.1: “Konusu kalmayan karşılıklar” TRY 0: not counted (proven); “Reeskont geliri” TRY 96,968,947: undetermined, kept in the upper bound; “Diğer gelirler” TRY 649,747: undetermined, kept in the upper bound. Note 26.1: “Kur farkı gelirleri-geçerli para birimi çevrimi” TRY 0: not counted (proven); “Faiz gelirleri” TRY 1,891,963: counted in the ratio (proven). Note 25.1: “Adat gelirleri” TRY 198,174,315: counted in the ratio (proven); “Sabit kıymet satış karı” TRY 35,156,951: not counted (proven). The ratio is in the range 5.90% to 8.78%; both bounds give the same result.

Breakdown from the notes
Item, as written in the company's report	Amount (TRY)	Class	Basis
Konusu kalmayan karşılıklar · Other income from operating activities, note 24.1	0	not counted (proven)	TKBB Guideline 4.2
Reeskont geliri · Other income from operating activities, note 24.1	96,968,947	undetermined, kept in the upper bound	TKBB Guideline 4.1
Diğer gelirler · Other income from operating activities, note 24.1	649,747	undetermined, kept in the upper bound	TKBB Guideline 4.1
Kur farkı gelirleri-geçerli para birimi çevrimi · Finance income, note 26.1	0	not counted (proven)	TKBB Guideline 4.2
Faiz gelirleri · Finance income, note 26.1	1,891,963	counted in the ratio (proven)	TKBB Guideline 4.1
Adat gelirleri · Income from investing activities, note 25.1	198,174,315	counted in the ratio (proven)	TKBB Guideline 4.1
Sabit kıymet satış karı · Income from investing activities, note 25.1	35,156,951	not counted (proven)	TKBB Guideline 4.2

KAFİF declaration 8.8% (first half 2026) · Sağlama range 5.9% to 8.8% (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 document Method

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

Not on the BIST Participation All Shares list · Index period from October 2026 to April 2027Source: Borsa Istanbul's list of constituents, Oct 1, 2026

Latest official change

Removed from the BIST Participation All Shares and BIST Participation 100 indices 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).

Status history

6 entries

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

Jul 2026Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: at least one ratio above the threshold. Income 15.82% · assets 1.03% · loans 0.04%.
Sep 2026Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: at least one ratio above the threshold. Income 13.09% · assets 0.59% · loans 0.04%.
Sep 2026Earlier measurementTKBB rules, August 2025, version 2 · Q1 2026: at least one ratio above the threshold. Income 13.09% · assets 0.59% · loans 0.04%.
Sep 2026Earlier measurementTKBB rules, August 2025, version 2 · first half 2026: at least one ratio above the threshold. Income 8.78% · assets 0.57% · loans 21.64%.
Oct 2026Removed from the indexRemoved from the BIST Participation All Shares and BIST Participation 100 indices for the period from October 2026 to April 2027. Announced in KAP disclosure 1669816 on September 29, 2026.
Oct 2026MeasurementTKBB rules, August 2025, version 3 · first half 2026: at least one ratio above the threshold. Income 5.90% to 8.78% · assets 0.50% to 0.57% · loans 0.00% to 21.64%.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

KOPOL financial report, Jun 30, 2026 (company investor relations site)Jun 30, 2026 · Fingerprint 3dc0cd0df7f0…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 company's KAFİF declaration

The company's declaration on the KAP form (first half 2026): excluded income 8.8%, interest-bearing assets 0.6%, interest-bearing loans 21.7%. 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 SLIPKOPOL · 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: 8.8%
Purification amount: TRY 105.36

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 5.90%); 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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Other companies not on the list

The 12 companies just before and after this one in alphabetical order among the companies not on the BIST Participation All Shares list. All companies: Company list.

Based on the financial statements for the first half of 2026, the excluded income ratio is above the threshold.

MEASUREMENT TABLE

Official list record

Status history

Documents and sources

What this measurement covers

The company's KAFİF declaration

Purification calculation

Get an alert if it changes

Other companies not on the list