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
United Drilling Tools Limited is an India-based manufacturer of drilling products, which can be used in upstream oil and gas exploration. The Company is the manufacturer of Large outside diameter (OD) high-performance connectors and casing pipes, wireline winches, gas lift equipment, and downhole tools. The Company’s products offering includes high-performance connectors, casing pipe, wireline winches, gas lift equipment, down hole tools and industry solutions. It provides an installation service, which includes provision of service tools, service personnel to supervise the make-up of the connectors and running the pipe string, thread inspection and field repair and maintenance of all connectors. Its range of connectors are suitable for an array of applications, such as drilling, driving (piling), drill and drive, jetting, offshore jack-up, offshore subsea, slot recovery, drilling with casing and other. Its offers three connectors, UDI Leopard, UDI Swifta and UDI Lynx.
UNDR - United Drilling Tools Ltd
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