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
Loyal Textile Mills Limited is an India-based company, which is engaged in the manufacturing of yarn, woven fabric, knitted fabric and technical clothing. The Company operates through two segments: manufacturing and trading activities. The Company’s products include yarn, fabrics, garments, home textiles, organic products, PPE kits and face masks. The Company has developed products from recycled hard waste and polyester, such as yarn and knitted fabric of different counts and blends, and t-shirts and leggings. It also produces reusable food wrapper, high twist viscose woven fabric, yarn and cotton produced from cotton, such as polyester. Its geographical segments include Europe, Asia, America and Others. The Company has manufacturing plants at Kovilpatti, Sattur, Cuddalore, Sivagangai in Tamilnadu, Khammam in Telangana, and Nellore in Andhra Pradesh. The Company’s wholly owned subsidiary is Loyal International Sourcing Private Limited.
LOYT - Loyal Textile Mills Ltd
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