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Sağlama record · BIST: RNPOL

Rainbow Polikarbonat

Rainbow Polikarbonat (RNPOL) shares were removed from Borsa Istanbul's participation index list (BIST Participation All Shares) as of October 1, 2026 (Borsa Istanbul announcement, Sep 29, 2026). Borsa Istanbul does not state the reason for a removal in its announcement. In the company's KAFİF declaration for the first half of 2026, the excluded income ratio is 10.10%, against a threshold of 5%.

Dated October 17, 2026No. SGL-2025Y-RNPOL

The reading of all three ratios in the financial statements for the full year 2025 is not complete; the ratios rest 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
33.4%

On the items read: 0.0% to 33.4%

Calculation and source

Calculation: numerator ÷ denominatorTRY 852,422,332÷TRY 2,555,479,629 (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 930,856 that is proven not to count was deducted from the debt numerator (source: Note 8). 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 8: “Ödenecek Vergi ve Fonlar” TRY 930,856: not counted (proven). Notes that could not be used: Note 27 (Current portion of long-term borrowings): the note's amounts could not be matched to this item automatically. On the items read, the measured range is 0.00% to 33.36%.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Ödenecek Vergi ve Fonlar · Other payables, note 8930,856not counted (proven)TKBB Guideline 6.2

KAFİF declaration 47.5% (first half 2026) · Sağlama measurement on the items read 0.0% to 33.4% (full year 2025) · the statements will be read again · View the form on KAP

Source: company financial report, full year 2025 statements · Dec 31, 2025

View the documentMethod

Interest-bearing assets

statements to be read again
8.3%

Measured on the items read

Calculation and source

Calculation: numerator ÷ denominatorTRY 210,919,293÷TRY 2,555,479,629 (total assets)× 100

RatioInterest-bearing cash and securities / total assets

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 rests on the items read from the financial statements; the statements will be read again. Note 6: “Hisse Senetleri” TRY 8,394,437: undetermined, kept in the numerator. Note 4: “Kasa” TRY 211,384: not counted (proven); “Bankadaki Nakit” TRY 201,290,953: undetermined, kept in the numerator; “Diğer Hazır Değerler (*)” TRY 1,233,903: undetermined, kept in the numerator. On the items read, the measured range is 0.00% to 8.25%.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Hisse Senetleri · Financial investments, note 68,394,437undetermined, kept in the numeratorTKBB Guideline 5.2
Kasa · Cash and cash equivalents, note 4211,384not counted (proven)TKBB Guideline 5.2
Bankadaki Nakit · Cash and cash equivalents, note 4201,290,953undetermined, kept in the numeratorTKBB Guideline 5.1
Diğer Hazır Değerler (*) · Cash and cash equivalents, note 41,233,903undetermined, kept in the numeratorTKBB Guideline 4.1

KAFİF declaration 18.2% (first half 2026) · Sağlama measurement on the items read 0.0% to 8.3% (full year 2025) · the statements will be read again · View the form on KAP

Source: company financial report, full year 2025 statements · Dec 31, 2025

View the documentMethod

Excluded income

statements to be read again
7.3%

On the items read: 2.4% to 7.3%

Calculation and source

Calculation: numerator ÷ denominatorTRY 132,679,391÷TRY 1,810,307,086 (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.

This range rests on the items read from the financial statements, and the statements will be read again.

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. The ratio rests on the items read from the financial statements; the statements will be read again. 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 22: “Konusu Kalmayan Karşılıklar” TRY 431,655: not counted (proven); “Kambiyo Karları” TRY 97,417,433: not counted (proven); “Diğer Olağandışı Gelir ve Karlar” TRY 26,775,562: undetermined, kept in the numerator. Note 24: “Faiz Gelirleri” TRY 42,992,762: counted in the ratio (proven); “Reeskont Faiz Gelirleri” TRY 62,898,107: undetermined, kept in the numerator. Note 23: “Menkul Kıymet Satış Gelirleri” TRY 12,960: undetermined, kept in the numerator; “KKM Gelirleri” TRY 0: counted in the ratio (proven); “Duran Varlık Satış Gelirleri” TRY 0: not counted (proven). On the items read, the measured range is 2.37% to 7.33%.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Konusu Kalmayan Karşılıklar · Other income from operating activities, note 22431,655not counted (proven)TKBB Guideline 4.2
Kambiyo Karları · Other income from operating activities, note 2297,417,433not counted (proven)TKBB Guideline 4.2
Diğer Olağandışı Gelir ve Karlar · Other income from operating activities, note 2226,775,562undetermined, kept in the numeratorTKBB Guideline 4.1
Faiz Gelirleri · Finance income, note 2442,992,762counted in the ratio (proven)TKBB Guideline 4.1
Reeskont Faiz Gelirleri · Finance income, note 2462,898,107undetermined, kept in the numerator
Menkul Kıymet Satış Gelirleri · Income from investing activities, note 2312,960undetermined, kept in the numeratorTKBB Guideline 4.1
KKM Gelirleri · Income from investing activities, note 230counted in the ratio (proven)TKBB Guideline 4.1
Duran Varlık Satış Gelirleri · Income from investing activities, note 230not counted (proven)TKBB Guideline 4.2

KAFİF declaration 10.1% (first half 2026) · Sağlama measurement on the items read 2.4% to 7.3% (full year 2025) · the statements will be read again · View the form on KAP

Source: company financial report, full year 2025 statements · Dec 31, 2025

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
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 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).

Status history

8 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 2025: at least one ratio above the threshold. Income 14.87% · assets 10.92% · loans 3.38%.
  2. Earlier measurementTKBB rules, August 2025, version 1 · full year 2025: at least one ratio above the threshold. Income 12.73% · assets 8.26% · loans 33.39%.
  3. MeasurementThe measurement was withdrawn as a precaution. Interest-bearing debt was missing from the numerator: on the primary balance sheet the loans ratio is about 34%, above the threshold, not the published 3.38%.
  4. MeasurementCorrection note. The December 31, 2025 financial statements were measured with the updated reading software; the “Financial borrowings” and “Other financial liabilities” lines are in the debt numerator. The withdrawal of September 5, 2026 is closed.
  5. Earlier measurementTKBB rules, August 2025, version 1 · full year 2025: depends on the company's declaration. Income 7.33% · assets 8.25% · loans 33.36%.
  6. Earlier measurementTKBB rules, August 2025, version 2 · full year 2025: depends on the company's declaration. Income 7.33% · assets 8.25% · loans 33.36%.
  7. Removed from the indexRemoved from the BIST Participation All Shares index for the period from October 2026 to April 2027. Announced in KAP disclosure 1669816 on September 29, 2026.
  8. MeasurementTKBB rules, August 2025, version 3 · full year 2025: statements to be read again. Income 2.37% to 7.33% · assets 0.00% to 8.25% · loans 0.00% to 33.36%. The ratios rest on the items read.THIS RECORD

Corrections log

  • Measurement withdrawn · closed

    Interest-bearing debt was missing from the numerator: on the primary balance sheet the loans ratio is about 34%, above the threshold, not the published 3.38%.

    In Turkish, as published.30.09.2025 bilançosu sayfa 4'teki «Finansal Borçlanmalar» satırları (kısa vadeli 549.941.232 TL, uzun vadeli 193.286.956 TL) ve «Diğer Finansal Yükümlülükler» (649.039 TL) ayrıştırıcı tarafından desteklenen bir kaleme eşlenmediği için borç payına girmemişti; pay yalnız 81.404.923 TL olarak alınmıştı. Birincil kaynağa göre faizli borç toplamı 825.282.150 TL / toplam varlıklar 2.410.225.481 TL ≈ %34,2, TKBB eşiği (%33) üstü. Şirketin genel durumu zaten «uygun değil» idi; yanlış olan borç satırıdır. Ayrıştırıcı kalem eşlemesi doğrulanana kadar ölçüm yayından çekildi; resmî endeks durumu sayfada kalır.

    Evidence: finansal-tablolar-30092025.pdf · PDF p. 4 · Fingerprint 64ba39187710…

  • Note added · open

    The December 31, 2025 financial statements were measured with the updated reading software; the “Financial borrowings” and “Other financial liabilities” lines are in the debt numerator. The withdrawal of September 5, 2026 is closed.

    In Turkish, as published.Geri çekmeye yol açan eksiklik, 30.09.2025 tablosunda «Finansal Borçlanmalar» satırlarının ayrıştırıcı tarafından eşlenmemesiydi. Şirketin 31.12.2025 bağımsız denetim raporu (sayfa 4) aynı satırları içerir: kısa vadeli 588.435.575 TL, uzun vadeli 191.730.014 TL, uzun vadeli borçlanmaların kısa vadeli kısımları 71.479.244 TL, diğer finansal yükümlülükler 777.499 TL. Yeni ayrıştırıcı bu satırları borç payına alır; ölçüm bu tabloyla yeniden yayımlandı. Kaynak, kapsam taraması sırasında bulundu.

    Evidence: 31122025-bagimsiz-denetim-raporu.pdf · PDF p. 3, 4 · Fingerprint 4f605c0e7b9c…

Documents and sources

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

  • RNPOL financial report, Dec 31, 2025 (company investor relations site)Dec 31, 2025 · Fingerprint 4f605c0e7b9c…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 10.1%, interest-bearing assets 18.2%, interest-bearing loans 47.5%. 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 SLIPRNPOL · full year 2025
Number of shares
500
Gross dividend per share
TRY 2.40
Gross dividend (500 × 2.40)
TRY 1,200.00
Excluded income ratio
7.3%
Purification amount
TRY 87.96

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. The ratio rests on the items read; the statements will be read again, so the ratio and the amount may change. On the items read, the measured range is 2.37% to 7.33%; the purification amount is calculated with the 7.33% found from the items read.

  • 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.