Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly).
If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them.
Company Profile
Garden Reach Shipbuilders & Engineers Limited is an India-based shipbuilding company. The Company is primarily engaged in shipbuilding activities for Indian Navy and the Indian Coast Guard. It is also engaged in construction of commercial vessels and engineering & engine production activities. It operates through three divisions: shipbuilding, engineering and engine. The Shipbuilding division is engaged in the construction of warships / vessels for clients mainly in the defense sector. The Engineering division is engaged in manufacturing deck-machinery items, prefabricated portable steel bridges and marine pumps. The engine division is involved in assembly/testing/ overhauling of motor (engine) and turbine union (MTU) diesel engines. It also supplies various boats, pontoons, barges, sailing dinghy, fishing trawler, fire float, dredger, passenger ferry, motor cutter, deck whaler, launch etc. to various other customers. Its shipbuilding unit is located at Rajabagan Dockyard, India.
GRSE - Garden Reach Shipbuilders & Engineers Ltd
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