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
Metkore Alloys & Industries Limited is an India-based company, which manufactures ferro alloys. The Company has an installed capacity of approximately 30,000 tons per annum at Ravivalasa village, Tekkali Mandal, Srikakulam District, Andhra Pradesh. It produces mainly high carbon ferro chrome and small quantities of silicon manganese and ferro silicon. It caters to domestic and export markets. The Company’s products consist of its own manufactured product of ferro chrome, and other traded ferro alloy and related products, such as ore, coal, coke, char coal, anthracite coal, quartzite and others. Its high carbon ferro chrome is manufactured from its own manufacturing unit as per specifications and sizes of the customer. Its ferro manganese is outsourced/traded from other manufacturing units as per the specifications and sizes of the customer. Its silico manganese is outsourced/traded from other manufacturing units as per the specifications and sizes of the customer.
METK - Metkore Alloys & Industries Ltd
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