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
GP Petroleums Limited is an India-based company, which is engaged in formulating, manufacturing and marketing of industrial, automotive lubricants, process oils, transformer oils, greases and other specialties under the brand name IPOL in India. The Company also trades in base oils, bitumen, coal and bunker fuel oil. The Company’s products include automotive lubricants, such as automotive engine oils, automotive gear and transmission oils, automotive greases, and engine coolant and brake fluids; industrial lubricants, such as industrial lubricating oils, industrial specialty oils, metal working fluids, corrosion preventive oils, cleaners and quenching oils, industrial greases, and horticultural orchard spray oils. Its products cater to a range of industries, including general engineering, automotive, plastics, sugar mills, transformers, rubber component, paint, cosmetics, tire, textiles, cement and mines. The Company has a manufacturing facility at Vasai, near Mumbai.
GPPE - GP Petroleums Ltd
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