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Sağlama record · BIST: LMKDC

Limak Doğu Anadolu

Limak Doğu Anadolu (LMKDC) 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 50 and BIST Participation 100 indices.

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

Based on the financial statements for the first half of 2026, the excluded income ratio is above the threshold on proven items alone (at least 5.0%, threshold 5%). Whether it stays within the tolerance band (5.5%) depends on the company's declaration.

This is a measurement, not a religious ruling.

MEASUREMENT TABLE

Interest-bearing loans

within the threshold
2.9%

Upper bound

Calculation and source

Calculation: numerator ÷ denominatorTRY 303,914,000÷TRY 10,354,527,000 (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 is therefore an upper bound for the items shown in the financial statements. Note 5: “Maddi duran varlık alımlarına ilişkin borçlar (*)” TRY 123,918 thousand: undetermined, kept in the upper bound; “Ödenecek vergi ve fonlar” TRY 33,286 thousand: not counted (proven); “Alınan depozito ve teminatlar” TRY 27,599 thousand: undetermined, kept in the upper bound; “Maddi duran varlık alımlarına ilişkin borçlar (*)” TRY 152,397 thousand: undetermined, kept in the upper bound. Note 10: “Kısa vadeli kiralama işlemlerinden borçlar” TRY 69,871 thousand: not counted (proven). Note 10: “Uzun vadeli kiralama işlemlerinden borçlar” TRY 25,429 thousand: not counted (proven). 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 thousand)ClassBasis
Maddi duran varlık alımlarına ilişkin borçlar (*) · Other payables, note 5123,918undetermined, kept in the upper bound
Ödenecek vergi ve fonlar · Other payables, note 533,286not counted (proven)TKBB Guideline 6.2
Alınan depozito ve teminatlar · Other payables, note 527,599undetermined, kept in the upper boundTKBB Guideline 6.1
Maddi duran varlık alımlarına ilişkin borçlar (*) · Other payables, note 5The company's note says: “Güneş enerjisi santrali yatırımlarına ilişkin ilgili kuruluş ile imzalanan tedarik ve kurulum sözleşmesi kapsamında doğan ve vadeli ödeme anlaşması çerçevesinde detayları belirlenen yükümlülüklerden oluşmaktadır. İlgili borçlar, 2026-2028 yıllarında altı aylık eşit taksitler halinde ve ilave yıllık %8,48 oranında vade farkı uygulanarak ödenecektir.”152,397undetermined, kept in the upper bound
Kısa vadeli kiralama işlemlerinden borçlar · Current portion of long-term borrowings, note 1069,871not counted (proven)TKBB Guideline 6.2
Uzun vadeli kiralama işlemlerinden borçlar · Long-term borrowings, note 1025,429not counted (proven)TKBB Guideline 6.2

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

Interest-bearing assets

within the threshold
3.0%

Upper bound

Calculation and source

Calculation: numerator ÷ denominatorTRY 306,907,000÷TRY 10,354,527,000 (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 3: “Bankalar / - Vadesiz mevduatlar” TRY 539,613 thousand: not counted (proven); “Bankalar / - Vadeli mevduatlar” TRY 1,001 thousand: counted in the ratio (proven); “Menkul kıymetler / - Yatırım fonları” TRY 274,004 thousand: undetermined, kept in the upper bound; “Diğer” TRY 31,902 thousand: undetermined, kept in the upper bound. The ratio is in the range 0.01% to 2.96%; both bounds give the same result.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY thousand)ClassBasis
Bankalar / - Vadesiz mevduatlar · Cash and cash equivalents, note 3539,613not counted (proven)TKBB Guideline 5.2
Bankalar / - Vadeli mevduatlar · Cash and cash equivalents, note 31,001counted in the ratio (proven)TKBB Guideline 5.1
Menkul kıymetler / - Yatırım fonları · Cash and cash equivalents, note 3274,004undetermined, kept in the upper boundTKBB Guideline 5.1
Diğer · Cash and cash equivalents, note 331,902undetermined, kept in the upper boundTKBB Guideline 4.1

KAFİF declaration 0.3% (first half 2026) · Sağlama range 0.0% to 3.0% (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

Excluded income

depends on the declaration
at most7.6%

Proven lower bound 5.0% · cautious upper bound 7.6%

Calculation and source

Calculation: numerator ÷ denominatorTRY 323,450,000÷TRY 4,242,148,000 (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 proven lower bound is already above the threshold. The tolerance band falls inside the range, so whether the ratio stays within the band 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 20: “Vade farkı gelirleri” TRY 36,214 thousand: not counted (proven); “Kur farkı gelirleri” TRY 10,871 thousand: not counted (proven); “Hurda satış karları” TRY 8,874 thousand: not counted (proven); “Konusu kalmayan karşılıklar” TRY 236 thousand: not counted (proven); “Diğer” TRY 8,763 thousand: undetermined, kept in the upper bound. Note 21: “Faiz gelirleri” TRY 213,365 thousand: counted in the ratio (proven); “Menkul kıymet kazançları” TRY 101,322 thousand: undetermined, kept in the upper bound; “Kur farkı gelirleri” TRY 58,921 thousand: not counted (proven). The ratio is certainly above the threshold; whether it stays within the tolerance band (up to 5.5%) depends on the company's declaration. The ratio is in the range 5.03% to 7.62%; the outcome depends on the company's declaration.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY thousand)ClassBasis
Vade farkı gelirleri · Other income from operating activities, note 2036,214not counted (proven)TKBB Guideline 4.2
Kur farkı gelirleri · Other income from operating activities, note 2010,871not counted (proven)TKBB Guideline 4.2
Hurda satış karları · Other income from operating activities, note 208,874not counted (proven)TKBB Guideline 4.2
Konusu kalmayan karşılıklar · Other income from operating activities, note 20236not counted (proven)TKBB Guideline 4.2
Diğer · Other income from operating activities, note 208,763undetermined, kept in the upper boundTKBB Guideline 4.1
Faiz gelirleri · Finance income, note 21213,365counted in the ratio (proven)TKBB Guideline 4.1
Menkul kıymet kazançları · Finance income, note 21101,322undetermined, kept in the upper boundTKBB Guideline 4.1
Kur farkı gelirleri · Finance income, note 2158,921not counted (proven)TKBB Guideline 4.2

KAFİF declaration 5.4% (first half 2026) · Sağlama range 5.0% to 7.6% (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 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
Latest official change

Added to the BIST Participation 50 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

11 entries

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

  1. Earlier measurementTKBB rules, August 2025, version 1 · period ending April 2026: at least one ratio above the threshold. Income 14.07% · assets 23.67% · loans 4.93%.
  2. Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: at least one ratio above the threshold. Income 14.07% · assets 23.67% · loans 4.93%.
  3. Earlier measurementTKBB rules, August 2025, version 1 · period ending April 2026: at least one ratio above the threshold. Income 14.07% · assets 23.67% · loans 4.93%.
  4. Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: at least one ratio above the threshold. Income 14.07% · assets 23.67% · loans 4.93%.
  5. Earlier measurementTKBB rules, August 2025, version 1 · period ending April 2026: at least one ratio above the threshold. Income 14.07% · assets 23.67% · loans 4.93%.
  6. Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: at least one ratio above the threshold. Income 14.07% · assets 23.67% · loans 4.93%.
  7. Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: at least one ratio above the threshold. Income 9.85% · assets 22.54% · loans 4.82%.
  8. Earlier measurementTKBB rules, August 2025, version 2 · Q1 2026: at least one ratio above the threshold. Income 9.85% · assets 22.54% · loans 4.82%.
  9. Earlier measurementTKBB rules, August 2025, version 2 · Q1 2026: at least one ratio above the threshold. Income 9.85% · assets 22.54% · loans 3.40%.
  10. Earlier measurementTKBB rules, August 2025, version 2 · first half 2026: depends on the company's declaration. Income 7.62% · assets 2.96% · loans 2.94%.
  11. MeasurementTKBB rules, August 2025, version 3 · first half 2026: depends on the company's declaration. Income 5.03% to 7.62% · assets 0.01% to 2.96% · loans 0.00% to 2.94%. The ratio is certainly above the threshold; whether it stays within the tolerance band depends on the company's declaration.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

  • LMKDC financial report, Jun 30, 2026 (company investor relations site)Jun 30, 2026 · Fingerprint 025ae5fc042f…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 proven lower bound is already above the threshold, but the tolerance band falls inside the measured range. Whether the ratio stays within the band 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 5.4%, interest-bearing assets 0.3%, interest-bearing loans 0.0%. 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 SLIPLMKDC · 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
7.6%
Purification amount
TRY 91.44

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 5.03%); 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 50.