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
Sumeet Industries Limited is an India-based company, which is engaged in the business of manufacturing and exporting polyester yarns, which include partially oriented yarn (POY) and fully drawn yarn (FDY); polyester (PET) chips, polyester textured yarn and carpet yarn. The Company’s range of POY products are available for draw texturizing as well as air texturizing, draw twisting and draw warping applications. The Company produces polyester semi-dull intermingled POY as well as bright yarn and dope-dyed black yarn. It offers FOY products, including semi-dull raw white FDY, bright raw white FDY and super bright dope dyed FDY. It is also producing yarns of 75 Deniers, 100 Deniers, 126 Deniers, 150 Deniers in various filaments both in semi-dull and in black color. The Company caters to both domestic and international markets. It exports its products to Egypt, Saudi Arabia, China, Argentina, Poland, Portugal, Morocco, Columbia, Bangladesh, Russia, Ethiopia, Mexico, Nepal and others.
SUIN - Sumeet Industries Ltd
Report
There was a problem reporting this post.
Block Member?
Please confirm you want to block this member.
You will no longer be able to:
See blocked member's posts
Mention this member in posts
Please allow a few minutes for this process to complete.