Magontec Ltd MGL.AX
AUD0.22
Last Updated: Oct 14, 12:00 AM·ASX
Pricing for AU stocks is delayed by 24 hours
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Is Magontec Ltd Stock Halal?
Shariah Compliance Analysis of MGL.AX Stock
Australia Materials Nano Cap No. As of October 2026, Magontec Ltd (MGL.AX) is classified as NOT HALAL by Musaffa under its AAOIFI-based Shariah screening methodology. Magontec Ltd does not pass Musaffa's business and financial screening criteria.
Magontec Ltd. engages in manufacturing of magnesium products. The company is headquartered in Sydney, New South Wales and currently employs 220 full-time employees. The Company’s principal activities include the manufacture and sale of generic and specialist alloys (including both primary alloy manufacture and recycling). The company is involved in the manufacture and distribution of magnesium and titanium cathodic corrosion protection products (anodes). The firm is also engaged in research and development of new proprietary magnesium alloys and technologies and research and development of cathodic corrosion protection products (CCP). The company is also involved in creating markets for new magnesium alloys and technologies by supporting demonstration trials and programs for developing new applications. Its types of products and services include magnesium alloy production and recycling, and the manufacture of cathodic corrosion protection products. The company has recycling facilities in Germany and Romania. The company recycles magnesium alloys, servicing its primary magnesium alloy customers.
MGL.AX Shariah Compliance
Screening Methodology: AAOIFI
As of October 2026, Magontec Ltd is classified as not halal.
NOT HALALMagontec Ltd (MGL.AX) Chart
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Financial Metrics & Statements of Magontec Ltd (MGL.AX)
FAQ's for Magontec Ltd (MGL.AX)
- As of October 2026, Magontec Ltd MGL.AX is classified as not halal according to Musaffa’s Shariah screening methodology. This classification is based on an assessment of the company’s business activities and financial ratios against Islamic investment guidelines.
- A stock is Shariah-compliant if the company operates in permissible business activities and meets Islamic financial screening thresholds. Musaffa analyzes Magontec Ltd using these criteria to determine its compliance status.
- Muslim investors may consider investing in Magontec 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.
- Musaffa determines the Shariah status of Magontec Ltd by analyzing whether the company’s core business operations are permissible and whether its financial ratios fall within accepted Islamic thresholds.
- The Shariah compliance status of Magontec Ltd may be updated periodically when new financial statements, earnings reports, or business activity information become available.
- 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.
- You can check the latest Shariah compliance status of Magontec Ltd on Musaffa’s stock page, where screening results and key financial indicators are updated to help Muslim investors make informed decisions.
Alternate Halal Stocks for Magontec Ltd (MGL.AX)
Related Halal Stocks are Shariah-compliant companies that align with Islamic investment principles, avoiding prohibited industries like alcohol, gambling, and interest-based finance.
