ETHICAL COMPLIANCE REPORT

REFEX INDUSTRIES

Sector:

Energy

Industry:

Thermal Coal

Overall Compliance

compliant

PRIMARY BUSINESS FILTER
Refrigerant Gases
compliant
REVENUE RATIO FILTER
0.5%
View Calculations
DEBT RATIO FILTER
14.7%
View Calculations
LIQUIDITY RATIO FILTER
4.1%
View Calculations

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.

0.5%

Non Compliant

Questionable

Compliant

CALCULATION

\textbf{Revenue Ratio:} \\[12pt] \dfrac{66324000.00}{14011271000.00} \times 100 = 0.50\%

FORMULA

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

Segment	Compliance	Value
Revenue From Ash and Coal Handling	compliant	₹945.58
Revenue from Power Trading	compliant	₹280.90
Revenue From Refrigerant Gases	compliant	₹72.31
Revenue From Service Segment	compliant	₹55.64
Revenue From Solar Segment	compliant	₹10.36
Revenue from Electric vehicles	compliant	₹12.31
Other Operating Revenue	compliant	₹5.77
Interest income	non-compliant	₹6.63
Other Income	compliant	₹11.62

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.

14.7%

CALCULATION

\textbf{Debt Ratio:} \\[12pt] \dfrac{1171613000.00}{7979790000.00} \times 100 = 14.70\%

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.

4.1%

CALCULATION

\textbf{Liquidity Ratio:} \\[12pt] \dfrac{330791000.00}{7979790000.00} \times 100 = 4.10\%

FORMULA

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