ETHICAL COMPLIANCE REPORT

ASHAPURA MINECHEM

Sector:

Basic Materials

Industry:

Other Industrial Metals & Mining

Overall Compliance

questionable

PRIMARY BUSINESS FILTER
Metals
compliant
REVENUE RATIO FILTER
0.3%
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DEBT RATIO FILTER
29.7%
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LIQUIDITY RATIO FILTER
4.4%
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Revenue Ratio

The sum of revenue from questionable and non-compliant sources should not exceed 3% of the total revenue. This ensures that the company has tolerable reliance on unethical sources of revenue.

0.3%

Non Compliant

Questionable

Compliant

CALCULATION

\textbf{Revenue Ratio:} \\[12pt] \dfrac{68212000.00}{27156246000.00} \times 100 = 0.30\%

FORMULA

\textbf{Revenue Ratio:} \\[12pt] \dfrac{\text{Unethical Segments}}{\text{Total Revenue}} \times 100 \; \leq \; 3\%

Segment	Compliance	Value
Sales	compliant	₹2,620.12
Other Operating Revenue	compliant	₹28.68
Interest Income	non-compliant	₹6.53
Investment Gain	questionable	₹0.29
Other Income	compliant	₹55.00
Research & Development Fees Receipts	compliant	₹5.01

Debt Ratio

The interest bearing debt should not exceed 31% of the total assets. This is to ensure that the company is not paying a significant portion of its assets as interest.

29.7%

CALCULATION

\textbf{Debt Ratio:} \\[12pt] \dfrac{9816226000.00}{33106923000.00} \times 100 = 29.70\%

FORMULA

\textbf{Debt Ratio:} \\[12pt] \dfrac{\text{Interest Bearing Debt}}{\text{Total Assets}} \times 100 \; \leq \; 30\%

Liquidity Ratio

The total liquid assets should not exceed 90% of the total assets. This is to ensure that trading this stock does not become similar to trading a currency.

4.4%

CALCULATION

\textbf{Liquidity Ratio:} \\[12pt] \dfrac{1448864000.00}{33106923000.00} \times 100 = 4.40\%

FORMULA

\textbf{Liquidity Ratio:} \\[12pt] \dfrac{\text{Total Liquid Assets}}{\text{Total Assets}} \times 100 \; \leq \; 90\%