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
Grindwell Norton Limited is an India-based holding company. The Company is engaged in the manufacturing of bonded abrasives, coated abrasives, thin wheels, and superabrasives. It operates through two segments: abrasives and ceramics and plastics. The Company’ Abrasives segment offers bonded abrasives in the form of wheels and other shapes, such as segment and sticks, which are used for various applications, such as lapping, honing, super-finishing, race grinding, thread grinding, fluting, outside diameter (OD) grinding, inside diameter (ID) grinding and surface grinding. Its Ceramics & plastics segment includes Silicon Carbide which is used as raw material in the manufacture of Abrasives; High Performance Refractories, which are used for processing ferrous and non-ferrous metals, and Performance Plastics, which produces and markets standard and custom-made polymer products. It manufactures industrial ceramics, fused cast refractories, and solutions for wastewater treatment.
GRNN - Grindwell Norton Ltd
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