ETHICAL COMPLIANCE REPORT

GANDHAR OIL REFINE IND L

Sector:

Energy

Industry:

Oil & Gas Refining & Marketing

Overall Compliance

compliant

PRIMARY BUSINESS FILTER
White Oils
compliant
REVENUE RATIO FILTER
0.2%
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DEBT RATIO FILTER
10.5%
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LIQUIDITY RATIO FILTER
14.3%
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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.

0.2%

Non Compliant

Questionable

Compliant

CALCULATION

\textbf{Revenue Ratio:} \\[12pt] \dfrac{88820000.00}{41231040000.00} \times 100 = 0.20\%

FORMULA

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

Segment	Compliance	Value
Petroleum Products/Speciality Oils	compliant	₹4,109.90
Sale of services	compliant	₹0.70
Other Operating Revenue	compliant	₹2.61
Interest income	non-compliant	₹8.81
Gain on fair valuation of Mutual Fund	questionable	₹0.08
Other Income	compliant	₹1.01

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.

10.5%

CALCULATION

\textbf{Debt Ratio:} \\[12pt] \dfrac{2031420000.00}{19399940000.00} \times 100 = 10.50\%

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.

14.3%

CALCULATION

\textbf{Liquidity Ratio:} \\[12pt] \dfrac{2767270000.00}{19399940000.00} \times 100 = 14.30\%

FORMULA

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