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
Somi Conveyor Beltings Ltd. is an India-based conveyor belts company. The Company has operations across Rajasthan, Maharashtra, Gujarat, and Tamil Nadu with manufacturing facilities located at Jodhpur, Rajasthan. It has two manufacturing plants located at Jodhpur India. The plants are equipped with programmable logic controller (PLC)-based fully automatic and computerized machinery. It produces Somiflex up to approximately 2000 millimeters (mm) width with an installed capacity of approximately 9,00,000 meters per annum. The Company’s products offerings include general purpose, heat resistant, fire resistant, oil resistant and special conveyor belts. Its general purpose products include M-24 Grade and Tiger M-27. Its heat resistant products include HR (T1-120deg), SHR (T2-150deg), UHR (T3-180deg) and SEHR-36 Crackless(250deg). Its fire-resistant products include FR Grade and SEFR-81. Its oil resistant product includes OR-Grade.
SOMI - Somi Conveyor Beltings Ltd
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