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
Menon Bearings Limited is an India-based company, which is engaged in the business of manufacturing of auto components. The Company’s products include bi-metal engine bearings; bushes and thrust washers for light and heavy automobile engines; two-wheeler engines as well as compressors for refrigerators; air conditioners, and more. Its bearing products include bearings for connecting rods, bearings for crank shafts, flanged bearings and trimetal bearings. The Company offers truncated bushes for connecting rods, ball indented bushes, bushes for connecting rods, cam shafts, rock shafts and rocker arms. Its thrust washers include washers with thrust face contours and ring type thrust washers. Its aluminum products include engine components, gear case covers, clutch assembly, cylinder heads for automobile engines, break parts, engine parts, portable tools, fuel pump parts and more.
MENO - Menon Bearings Ltd
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