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
Laxmipati Engineering Works Limited is an India-based company, which is engaged in the business of fabrication, heavy engineering, engineering infrastructure and services, and precision machining. The Company creates a modern shipbuilding and repair yard for small to medium vessels. Its Shipyard has manufacturing facilities, including a Ship-lift/Dry dock Facility with a lift capacity of approximately 5500 tons, side transfer facilities, CNC plasma cutting machine, bending rolls, hydraulic press, cold shearing machine, frame bending machine and steel processing machinery. Its segments include Fabrication and Shipyard. The workshop is suited for various manufacturing projects: boilers and heat exchangers, modular manufacturing, pier caps and shutters for infra projects, heavy engineering and fabrication and others. Its services include shipbuilding, ship repair and refit; maintenance, repair and upgrade; heavy engineering; machining; overlay welding; and infrastructure and facilities.
LAXP - Laxmipati Engineering Works Ltd
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