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
Walchandnagar Industries Ltd. is a heavy engineering and project execution company. It has diversified business offerings across sectors with a focus on engineering, procurement and construction (EPC)/turnkey projects, hi-tech manufacturing, engineering products and engineering services. Its segments include Heavy Engineering, Foundry and Machine Shop, and Others. The geographical segment of the Company is categorized under domestic sales and export sales. It has three manufacturing plants which are located at Walchandnagar, Satara Road, and Attikola Dharwad. Its Walchand Technology Group is a technology and engineering solutions group, which provides a complete range of consulting engineering services. The Company undertakes projects and supply of machinery and equipment, in the fields of nuclear power, aerospace, missile, defense, oil and gas, steam generation plants, independent power projects, turnkey cement, and sugar plants.
WALC - Walchandnagar Industries Ltd
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