X2M Connect Ltd X2M.AX
AUD0.00 AUD0.00 (12.50%) 1D
Last Updated: Oct 16, 12:00 AM·ASX
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Is X2M Connect Ltd Stock Halal?
Shariah Compliance Analysis of X2M.AX Stock
Australia Information Technology Nano Cap No. As of October 2026, X2M Connect Ltd (X2M.AX) is classified as NOT HALAL by Musaffa under its AAOIFI-based Shariah screening methodology. X2M Connect Ltd does not pass Musaffa's business and financial screening criteria.
X2M Connect Ltd. operates as a technology company engages in the Internet of Things business for water, gas, electricity and other utilities industries. The Company’s activities include gas monitoring and control, water monitoring and control, energy monitoring and control, and data delivery for artificial intelligence (AI) and data analytics applications. The company has developed and commercialized a patented proprietary Internet of Things (IoT) solution that delivers productivity improvements, cost savings and improved public safety to enterprise and government clients in the utilities sector. Its technology connects devices such as water, gas and electricity meters and other utility sensors to the internet, enabling data exchange and the remote control of these devices. Its control devices also provide the basis for AI or machine learning applications to build upon its platform. The company has over 530,000 devices connected to its IoT platform and distributed intelligence solutions providing real-time information to its customers. The company is focusing on servicing the utility sector in the Asia-Pacific region.
X2M.AX Shariah Compliance
Screening Methodology: AAOIFI
As of October 2026, X2M Connect Ltd is classified as not halal.
NOT HALALX2M Connect Ltd (X2M.AX) Chart
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Financial Metrics & Statements of X2M Connect Ltd (X2M.AX)
FAQ's for X2M Connect Ltd (X2M.AX)
- As of October 2026, X2M Connect Ltd X2M.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 X2M Connect Ltd using these criteria to determine its compliance status.
- Muslim investors may consider investing in X2M Connect 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 X2M Connect 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 X2M Connect 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 X2M Connect 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 X2M Connect Ltd (X2M.AX)
Related Halal Stocks are Shariah-compliant companies that align with Islamic investment principles, avoiding prohibited industries like alcohol, gambling, and interest-based finance.
