Is Isgec Heavy Engineering (ISGEC.BO) stock halal?
Screened against AAOIFI Shari’ah Standard 21
Not settled. Isgec Heavy Engineering (ISGEC.BO) could not be confirmed either way under the AAOIFI Shari’ah Standard 21 screen. Its business description mentions alcohol, but it doesn’t report how much of its revenue that is. We show this as Needs Review rather than guess. Last checked 29 September 2026.
Isgec Heavy Engineering needs further review under Halal / Islamic guidelines
AAOIFI Shari’ah Standard 21 Financial Audit
Figures from the latest annual report (the SEC filing or, for European companies, the ESEF annual report, where one exists, checked against Yahoo Finance) and a 36-month average market value.
| Test | Standard Limit | Actual Figure | Status |
|---|---|---|---|
| Main business | — | — | Pass |
| Interest-bearing debt | 30% | 12.34% | Pass |
| Cash and interest-bearing investments | 30% | 5.33% | Pass |
| Prohibited income | 5% | — | Review |
| Not just cash and debts | 90% | 39.15% | Pass |
Key Findings & Observations
- Its business description mentions alcohol, but it doesn’t report how much of its revenue that is.Source: Business check
- The prohibited income test couldn’t be settled: The share of revenue from alcohol isn’t reported.Source: AAOIFI Shari'ah Standard 21
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Frequently Asked Questions about Isgec Heavy Engineering Limited (ISGEC.BO)
Is Isgec Heavy Engineering (ISGEC.BO) stock halal?▾
Not settled. Isgec Heavy Engineering (ISGEC.BO) could not be confirmed either way under the AAOIFI Shari’ah Standard 21 screen. Its business description mentions alcohol, but it doesn’t report how much of its revenue that is. We show this as Needs Review rather than guess. Last checked 29 September 2026.
What is Isgec Heavy Engineering's debt ratio under Islamic finance standards?▾
Under AAOIFI Shari’ah Standard 21, interest-bearing debt must stay under 30% of a company's 36-month average market value. Isgec Heavy Engineering's ratio is about 12.3%.
How much dividend purification is required for Isgec Heavy Engineering (ISGEC.BO) stock?▾
No purification is required for Isgec Heavy Engineering based on its latest annual report.
Does Isgec Heavy Engineering operate in prohibited business activities?▾
AAOIFI Shari’ah Standard 21 excludes companies whose main business is prohibited, such as alcohol, pork, gambling, conventional interest-based finance and adult entertainment. Isgec Heavy Engineering's main business is checked against these. For companies that file with the US SEC, revenue by division is also read from the filing, so a division in a prohibited business is counted. Where the check cannot be settled, the result is shown as Needs Review rather than guessed.
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