ETHICAL COMPLIANCE REPORT

MAN INDUSTRIES (I).

Sector:

Basic Materials

Industry:

Steel

Overall Compliance

compliant

PRIMARY BUSINESS FILTER
Pipe Manufacturing
compliant
REVENUE RATIO FILTER
0.4%
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DEBT RATIO FILTER
12.8%
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LIQUIDITY RATIO FILTER
10.6%
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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.

0.4%

Non Compliant

Questionable

Compliant

CALCULATION

\textbf{Revenue Ratio:} \\[12pt] \dfrac{128143000.00}{31942333000.00} \times 100 = 0.40\%

FORMULA

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

Segment	Compliance	Value
Other Income	compliant	₹39.24
Pipe Products	compliant	₹3,108.52
Sale of Services	compliant	₹4.34
Investment Gain	questionable	₹3.96
Other Operating Income	compliant	₹29.32
Interest Income	non-compliant	₹8.86

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.

12.8%

CALCULATION

\textbf{Debt Ratio:} \\[12pt] \dfrac{3084502000.00}{24151551000.00} \times 100 = 12.80\%

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.

10.6%

CALCULATION

\textbf{Liquidity Ratio:} \\[12pt] \dfrac{2548477000.00}{24151551000.00} \times 100 = 10.60\%

FORMULA

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