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Sağlama record · BIST: OZRDN

Özerden Ambalaj

Özerden Ambalaj (OZRDN) 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-2022-9A-OZRDN

Based on the financial statements for the first nine months of 2022, all three ratios are within the TKBB thresholds.

This is a measurement, not a religious ruling.

MEASUREMENT TABLE

Interest-bearing loans

within the threshold
3.6%

Upper bound

Calculation and source

Calculation: numerator ÷ denominatorTRY 4,270,313÷TRY 120,126,391 (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. Of the lease liabilities shown on the balance sheet, TRY 28,482,489 are debts that do not count under TKBB Guideline 6.2, so they were deducted from the debt numerator (source: balance sheet, page 4). 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.) Notes that could not be used: Note 5 (Short-term borrowings): the current-period amounts of the note's lines could not be read automatically. Note 5 (Current portion of long-term borrowings): the note's amounts could not be matched to this item automatically. Note 5 (Long-term borrowings): the current-period amounts of the note's lines could not be read automatically. There is no usable evidence from the notes, so the proven amount was set to 0 and the lower bound is 0%. The ratio is in the range 0.00% to 3.55%; both bounds give the same result.

KAFİF declaration 0.5% (first half 2026) · Sağlama range 0.0% to 3.6% (first nine months 2022) · the declaration is inside the range · View the form on KAP

Source: company financial report, first nine months 2022 statements · Sep 30, 2022

View the documentMethod

Interest-bearing assets

within the threshold
0.5%

Upper bound

Calculation and source

Calculation: numerator ÷ denominatorTRY 556,854÷TRY 120,126,391 (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: “Kasa” TRY 717: not counted (proven); “Bankalar / - Vadesiz mevduat” TRY 6,291,928: not counted (proven); “Bankalar / - Vadesi üç aydan kısa vadeli mevduatlar” TRY 556,854: counted in the ratio (proven); “Kredi kartı (POS) alacakları” TRY 30,484: not counted (proven). The lower and upper bounds are the same: 0.46%.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Kasa · Cash and cash equivalents, note 3717not counted (proven)TKBB Guideline 5.2
Bankalar / - Vadesiz mevduat · Cash and cash equivalents, note 36,291,928not counted (proven)TKBB Guideline 5.2
Bankalar / - Vadesi üç aydan kısa vadeli mevduatlar · Cash and cash equivalents, note 3556,854counted in the ratio (proven)TKBB Guideline 5.1
Kredi kartı (POS) alacakları · Cash and cash equivalents, note 330,484not counted (proven)TKBB Guideline 5.2

KAFİF declaration 0.0% (first half 2026) · Sağlama proven lower bound 0.5% (first nine months 2022) · the declaration is below the proven lower bound, a question for the KAFİF Committee · View the form on KAP

Source: company financial report, first nine months 2022 statements · Sep 30, 2022

View the documentMethod

Excluded income

within the threshold
0.5%

Measured on the items we can calculate

Calculation and source

Calculation: numerator ÷ denominatorTRY 857,559÷TRY 172,770,452 (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: “Ertelenmiş finansman gelirleri” TRY 379,807: undetermined, kept in the upper bound; “Kambiyo geliri” TRY 1,800,477: not counted (proven); “Konusu kalmayan karşılıklar” TRY 248,612: not counted (proven); “Sigorta hasar tazminatı gelirleri” TRY 87,259: not counted (proven); “Hurda satış gelirleri” TRY 1,187,224: not counted (proven); “Diğer” TRY 477,739: undetermined, kept in the upper bound. Note 23: “Faiz geliri” TRY 13: counted in the ratio (proven); “Finansmandan / kaynaklanan kambiyo karları” TRY 5,539,698: not counted (proven). Note 24: “Makine Kira geliri” TRY 36,333: not counted (proven); “Sabit Kıymet Satış Karları” TRY 0: not counted (proven). The ratio is in the range 0.00% to 0.50%; both bounds give the same result.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Ertelenmiş finansman gelirleri · Other income from operating activities, note 21379,807undetermined, kept in the upper boundTKBB Guideline 4.1
Kambiyo geliri · Other income from operating activities, note 211,800,477not counted (proven)TKBB Guideline 4.2
Konusu kalmayan karşılıklar · Other income from operating activities, note 21248,612not counted (proven)TKBB Guideline 4.2
Sigorta hasar tazminatı gelirleri · Other income from operating activities, note 2187,259not counted (proven)TKBB Guideline 4.2
Hurda satış gelirleri · Other income from operating activities, note 211,187,224not counted (proven)TKBB Guideline 4.2
Diğer · Other income from operating activities, note 21477,739undetermined, kept in the upper boundTKBB Guideline 4.1
Faiz geliri · Finance income, note 2313counted in the ratio (proven)TKBB Guideline 4.1
Finansmandan / kaynaklanan kambiyo karları · Finance income, note 235,539,698not counted (proven)TKBB Guideline 4.2
Makine Kira geliri · Income from investing activities, note 2436,333not counted (proven)TKBB Guideline 4.2
Sabit Kıymet Satış Karları · Income from investing activities, note 240not counted (proven)TKBB Guideline 4.2

KAFİF declaration 1.7% (first half 2026) · Sağlama measurement 0.5% (first nine months 2022) · the declaration is above this measurement; the periods differ · View the form on KAP

Source: company financial report, first nine months 2022 statements · Sep 30, 2022

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 · first nine months 2022: at least one ratio above the threshold. Income 5.65% · assets 5.73% · loans 3.02%.
  2. Earlier measurementTKBB rules, August 2025, version 1 · first nine months 2022: depends on the company's declaration. Income 5.65% · assets 5.73% · loans 3.02%.
  3. Earlier measurementTKBB rules, August 2025, version 1 · first nine months 2022: all three ratios within the threshold. Income 0.50% · assets 0.46% · loans 3.02%.
  4. Earlier measurementTKBB rules, August 2025, version 2 · first nine months 2022: all three ratios within the threshold. Income 0.50% · assets 0.46% · loans 3.02%.
  5. MeasurementTKBB rules, August 2025, version 3 · first nine months 2022: all three ratios within the threshold. Income 0.00% to 0.50% · assets 0.46% · loans 0.00% to 3.55%.
  6. MeasurementCorrection note. Other short-term borrowings (TRY 647,469) were missing from the debt numerator. In the same release, the lease liabilities on the balance sheet (TRY 28,482,489 in total) were deducted as debts that do not count under TKBB Guideline 6.2 (rules version 3). The upper bound of the ratio is 3.55%, not 3.02%. Below the threshold (33%); the result does not change.THIS RECORD

Corrections log

  • Note added · closed

    Other short-term borrowings (TRY 647,469) were missing from the debt numerator. In the same release, the lease liabilities on the balance sheet (TRY 28,482,489 in total) were deducted as debts that do not count under TKBB Guideline 6.2 (rules version 3). The upper bound of the ratio is 3.55%, not 3.02%. Below the threshold (33%); the result does not change.

    In Turkish, as published.30.09.2022 konsolide finansal durum tablosu (sayfa 4) «Diğer kısa vadeli borçlanmalar» (647.469 TL) ve «Kiralama işlemlerinden kaynaklanan yükümlülükler» (kısa vadeli 9.333.902 TL, uzun vadeli 19.148.587 TL) satırlarını borçlanma satırlarının yanında ayrı kalem olarak gösterir. Önceki okuma bu satırları borç payına almamıştı. Kısa ve uzun vadeli bölümlerin ana satırları bu satırlarla birlikte bölüm toplamlarına (48.582.480 TL ve 20.856.314 TL) birebir eşittir; satırlar başka bir kalemin alt satırı değildir. Dipnot 5'e göre «Diğer kısa vadeli borçlanmalar» şirketin kredi kartı borçlarıdır (sayfa 27). Dipnot 5'teki kısa vadeli kiralama dökümü (sayfa 26) bilanço satırından 647.469 TL düşüktür. Sermaye yönetimi tablosu (sayfa 47) kiralama yükümlülüklerini bilançodaki toplamla (28.482.489 TL), finansal borçları 4.270.313 TL olarak verir; likidite tablosu (sayfa 44) ikisinin toplamını (32.752.802 TL) gösterir. Yenilenen okuma aracı satırları okur; kural seti sürüm 3 ile kiralama yükümlülükleri (28.482.489 TL) Rehber 6.2 gereği uygun borç olarak düşülür. Pay, sermaye yönetimi tablosundaki finansal borçlarla aynı olan 4.270.313 TL'dir / toplam varlıklar 120.126.391 TL ≈ %3,55; eşik altında kalır.

    Closing note: The corrected measurement was published in the same release as this note. The upper bound of the debt ratio was updated from 3.02% to 3.55%; it is below the threshold (33%), and the result did not change.

    Evidence: finansal_rapor_2022_03.pdf · PDF p. 4, 26, 27, 44, 47 · Fingerprint 5e6b7a4dc8c0…

Documents and sources

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

  • OZRDN financial report, Sep 30, 2022 (company investor relations site)Sep 30, 2022 · Fingerprint 5e6b7a4dc8c0…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

Based on data as of this date, the three ratios we measure are within the TKBB thresholds.

The company's KAFİF declaration

The company's declaration on the KAP form (first half 2026): excluded income 1.7%, interest-bearing assets 0.0%, interest-bearing loans 0.5%. 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 SLIPOZRDN · first nine months 2022
Number of shares
500
Gross dividend per share
TRY 2.40
Gross dividend (500 × 2.40)
TRY 1,200.00
Excluded income ratio
0.5%
Purification amount
TRY 6.00

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.