ETHICAL COMPLIANCE REPORT

PAGE INDUSTRIES

Sector:

Consumer Cyclical

Industry:

Apparel Manufacturing

Overall Compliance

compliant

PRIMARY BUSINESS FILTER
Textiles Apparels & Accessories
compliant
REVENUE RATIO FILTER
0.2%
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DEBT RATIO FILTER
0%
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LIQUIDITY RATIO FILTER
12%
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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{889500000.00}{458919000000.00} \times 100 = 0.20\%

FORMULA

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

Segment	Compliance	Value
Sale of Scrap and Others Materials	compliant	₹219.87
Duty Drawback	compliant	₹1.50
Other Operating Income	compliant	₹110.64
interest Income	non-compliant	₹88.95
Sale of Apparels	compliant	₹45,470.94

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.

CALCULATION

\textbf{Debt Ratio:} \\[12pt] \dfrac{0.00}{26825801000.00} \times 100 = 0.00\%

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.

12%

CALCULATION

\textbf{Liquidity Ratio:} \\[12pt] \dfrac{3210480000.00}{26825801000.00} \times 100 = 12.00\%

FORMULA

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