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
IOL Chemicals and Pharmaceuticals Limited is an India-based active pharma ingredients (API) based pharmaceutical company. The Company’s APIs portfolio covers various therapeutic categories, such as pain management, anti-diabetic, anti-hypertensive, and anti-convulsant, amongst others. The Company operates through two business divisions: Active Pharma Ingredients (API), and Specialty Chemicals. Its API vertical is engaged in research, developing, and providing various essential products that are used by pharma companies. Its API product portfolio includes Ibuprofen, Ibuprofen Lysinate, Ibuprofen Sodium, Dex-Ibuprofen, Metformin HCL, Clopidogrel Bisulphate (Form II), Pantoprazole Sodium, Fenofibrate, Gabapentin, Lamotrigine, Ursodeoxycholic Acid, Losartan Potassium and Levetiracetam. Its Specialty Chemical division includes Ethyl Acetate, Iso Butyl Benzene, Acetyl Chloride and Mono Chloro Acetic Acid.
IOLC - IOL Chemicals and Pharmaceuticals Ltd
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