Is Azure Power Global Ltd halal to invest in?

According to Musaffa's Shariah screening methodology, Azure Power Global Ltd (AZREF) is currently classified as NOT HALAL as of June 2025. The classification is based on an evaluation of the company's business activities and financial ratios to determine whether it meets Islamic investment guidelines.

Is Azure Power Global Ltd a Shariah-compliant stock?

A stock is Shariah-compliant if the company operates in permissible business activities and meets Islamic financial screening thresholds. Musaffa analyzes Azure Power Global Ltd using these criteria to determine its compliance status.

Can Muslims buy shares of Azure Power Global Ltd?

Muslim investors may consider investing in Azure Power Global Ltd if it meets Shariah compliance standards. Investors typically review the company's business activities, debt levels, and non-permissible income before making a decision.

Why is Azure Power Global Ltd classified as NOT HALAL?

Musaffa determines the Shariah status of Azure Power Global Ltd by analyzing whether the company's core business operations are permissible and whether its financial ratios fall within accepted Islamic thresholds.

How often is the Shariah compliance for Azure Power Global Ltd updated?

The Shariah compliance status of Azure Power Global Ltd may be updated periodically when new financial statements, earnings reports, or business activity information become available.

Can a halal stock like Azure Power Global Ltd become non-compliant?

Yes. A stock that is currently Shariah-compliant may become non-compliant if the company's financial ratios exceed Shariah thresholds or its business activities change.

Where can I check the Shariah status of Azure Power Global Ltd?

You can check the latest Shariah compliance status of Azure Power Global Ltd on Musaffa's stock page, where screening results and key financial indicators are updated to help Muslim investors make informed decisions.

AZREF Shariah Compliance

Screening Methodology: AAOIFI

NOT HALAL

Last Updated: June 28, 2025

Report Source: 2024 Annual Report

Analyst's Ratings for Azure Power Global Ltd (AZREF)

Based on 8 analysts giving stock ratings to Azure Power Global Ltd in the past 3 months

Strong
SellSellHoldBuyStrong
Buy

Strong Buy

Buy

Hold

Sell

Strong Sell

Azure Power Global Ltd. Stock Analysis AZREF

United States Utilities Micro Cap Report: 2024 Annual

Azure Power Global Ltd. is a holding company, which engages in the development, production, and sale of solar energy. The firm is engaged in renewable energy project development and operation. The firm builds and operates solar, wind, and hybrid projects across India, which supply renewable energy to government utilities, both in the state and the center, as well as to independent industrial and commercial customers. The firm operates in the Sale of power segment. The Company’s projects include PUNJAB 4, ANDHRA PRADESH 2, TELANGANA 1, GUJARAT 2, RAJASTHAN 2, KARNATAKA 3, KARNATAKA 4, MAHARASHTRA 3, UTTAR PRADESH 2, CHHATTISGARH 1, DELHI 1, BIHAR 1, ASSAM 1, and others. The firm has an approximately 4.3 gigawatts (GW) pan-India portfolio of renewable energy assets. The firm has a renewable energy assets base of approximately 3,041 megawatts (MW) of operational capacity.

Key Statistics of Azure Power Global Ltd (AZREF)

Key statistics in the stock market are essential financial indicators that measure a company's performance, valuation, profitability, and risk.

Today's Range

$1.00$1.00

Today's Open

$1.00

Volume

158.00

P/E Ratio (TTM)

52 Week Range

$0.01$1.40

Market Cap

64.17M

Avg. Volume

2455.50

Dividend Yield

Financial Metrics & Statements of Azure Power Global Ltd (AZREF)

FAQ's for Azure Power Global Ltd (AZREF)

According to Musaffa’s Shariah screening methodology, Azure Power Global Ltd (AZREF) is currently classified as NOT HALAL as of June 2025. The classification is based on an evaluation of the company’s business activities and financial ratios to determine whether it meets Islamic investment guidelines.