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Sağlama record · BIST: SELVA

Selva Gıda

Selva Gıda (SELVA) 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-2026-6A-SELVA

Based on the financial statements for the first half of 2026, all three ratios are within the TKBB thresholds.

This is a measurement, not a religious ruling.

MEASUREMENT TABLE

Interest-bearing loans

within the threshold
21.7%

Upper bound

Calculation and source

Calculation: numerator ÷ denominatorTRY 1,141,022,000÷TRY 5,271,103,000 (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: “Banka kredileri / TL” TRY 698,466 thousand: counted in the ratio (proven); “Diğer” TRY 30 thousand: undetermined, kept in the upper bound. Note 5: “Banka kredileri” TRY 88,981 thousand: undetermined, kept in the upper bound; “Kiralama yükümlülükleri” TRY 45,023 thousand: not counted (proven). Note 5: “Banka kredileri” TRY 8,253 thousand: undetermined, kept in the upper bound; “Kiralama yükümlülükleri” TRY 65,282 thousand: not counted (proven). Notes that could not be used: Other payables: no note was found for this item (condensed interim report). The ratio is in the range 13.25% to 21.65%; both bounds give the same result.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY thousand)ClassBasis
Banka kredileri / TL · Short-term borrowings, note 5698,466counted in the ratio (proven)TKBB Guideline 6.1
Diğer · Short-term borrowings, note 530undetermined, kept in the upper boundTKBB Guideline 4.1
Banka kredileri · Current portion of long-term borrowings, note 588,981undetermined, kept in the upper boundTKBB Guideline 6.1
Kiralama yükümlülükleri · Current portion of long-term borrowings, note 545,023not counted (proven)TKBB Guideline 6.2
Banka kredileri · Long-term borrowings, note 58,253undetermined, kept in the upper boundTKBB Guideline 6.1
Kiralama yükümlülükleri · Long-term borrowings, note 565,282not counted (proven)TKBB Guideline 6.2

KAFİF declaration 14.5% (first half 2026) · Sağlama range 13.3% to 21.7% (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

Interest-bearing assets

within the threshold
0.3%

Upper bound

Calculation and source

Calculation: numerator ÷ denominatorTRY 17,772,000÷TRY 5,271,103,000 (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. The deductions the company declares on line 5G of its KAFİF form are not used in the measurement; they could not be confirmed from the financial statements and notes, so the deduction was set to 0. The ratio is therefore an upper bound for the items shown in the financial statements. Note 4: “Yatırım fonu” TRY 0 thousand: undetermined, kept in the upper bound; “Hisse senetleri” TRY 1,940 thousand: undetermined, kept in the upper bound. Notes that could not be used: Cash and cash equivalents: no note was found for this item (condensed interim report). The ratio is in the range 0.00% to 0.34%; both bounds give the same result.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY thousand)ClassBasis
Yatırım fonu · Financial investments, note 40undetermined, kept in the upper boundTKBB Guideline 5.1
Hisse senetleri · Financial investments, note 41,940undetermined, kept in the upper boundTKBB Guideline 5.2

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

within the threshold
3.1%

Measured on the items we can calculate

Calculation and source

Calculation: numerator ÷ denominatorTRY 35,935,000÷TRY 1,176,710,000 (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.

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. The deduction for income that does not count (line 4D of the KAFİF form) is not known and was set to 0. For the income lines that may count (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. Notes that could not be used: Other income from operating activities: no note was found for this item (condensed interim report). Finance income: no note was found for this item (condensed interim report). Income from investing activities: no note was found for this item (condensed interim report). 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 3.05%; both bounds give the same result.

KAFİF declaration 0.2% (first half 2026) · Sağlama range 0.0% to 3.1% (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
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

5 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 6.02% · assets 2.71% · loans 24.23%.
  2. Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: depends on the company's declaration. Income 6.02% · assets 2.71% · loans 21.81%.
  3. Earlier measurementTKBB rules, August 2025, version 2 · Q1 2026: depends on the company's declaration. Income 6.02% · assets 2.71% · loans 21.81%.
  4. Earlier measurementTKBB rules, August 2025, version 2 · first half 2026: all three ratios within the threshold. Income 3.05% · assets 0.34% · loans 21.65%.
  5. MeasurementTKBB rules, August 2025, version 3 · first half 2026: all three ratios within the threshold. Income 0.00% to 3.05% · assets 0.00% to 0.34% · loans 13.25% to 21.65%.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

  • SELVA financial report, Jun 30, 2026 (company investor relations site)Jun 30, 2026 · Fingerprint d6ee55fc2e0d… · fingerprint of the downloaded file 7b07e5650969…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 0.2%, interest-bearing assets 0.0%, interest-bearing loans 14.5%. 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 SLIPSELVA · 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
3.1%
Purification amount
TRY 36.60

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 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.