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
Mohit Industries Limited is an India-based company, which is engaged in the manufacturing of texturized yarn from partially oriented yarn (POY) and weaving of the yarn to grey cloth. It offers various types of yarns, including DTY 50/36 NIM, DTY 75/34 SIM, DTY 75/34 NIM, DTY 75/34 HIM, DTY 75/72 SIM & HIM, DTY 75/36 SIM & HIM & NIM, DTY 90/36 SIM, DTY 100/34 NIM, DTY 100/36 NIM, DTY 150/48 NIM and others. It also provides suiting, shirting, laser, georgette, hi-multi, satin georgette, American crepe, French crepe, Gaberdin, black-out, BSY oss, BSY Twill, Blackberry, Nakab/Dupatta. The Company exports DTY Yarn to South Korea, Thailand, Czech Republic, Denmark, Germany, Bulgaria, Indonesia, the United Kingdom, Mexico, Brazil, Guatemala, Vietnam and others. It has 16 texturizing machines, 150 high speed shuttle-less looms and 144 conventional shuttle looms with a capacity to manufacture 21,000 tons of draw texturized yarn (DTY) per annum and 12 million meters gray fabrics per annum.
MOHT - Mohit Industries Ltd
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