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
Precision Metaliks Limited is an India-based company, which is engaged in the trading and manufacturing of aluminum alloy wheels in a variety of sizes and finishing of alloy wheels. It also provides value-added services such as cleaning, washing, buffing, polishing, testing and packing. Its products and services include Chrome Plated Alloy Wheels, Polished / Coated Alloy Wheels, Engineering Services, and Plastic / Aluminum Moldings. The Company converts semifinished / raw wheels to finished wheels by carrying its value-added services. Its Engineering Services provide high-end design engineering services, analysis, product development, prototyping, tooling design and various other services such as flow forming, skin cut services.
PREN - Precision Metaliks Ltd
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