Is Super Iron Foundry Ltd IPO Halal and Shariah Compliant? 2025

Is Super Iron Foundry Ltd IPO Halal or Haram? If you’re looking for a detailed Shariah compliance analysis, you’re in the right place! In this article, we break down whether Super Iron Foundry Ltd IPO meets Shariah Screening guidelines. 

Is Super Iron Foundry Ltd IPO Halal or Not?

The IPO of Super Iron Foundry Ltd is considered Not Halal and Non-Shariah Compliant due to failing key financial criteria in Islamic finance screening. The reasons are:

• High Interest-Bearing Debt:
  • The company’s interest-bearing debt to total assets ratio is 49.03%, which exceeds the acceptable Shariah threshold (usually 33%).
  • This indicates a heavy reliance on interest-based financing, which is not permissible in Islam.

Since the company fails key financial screening criteria, it is classified as Not Halal and Non-Shariah Compliant and not suitable for halal investment. (Allah Knows the Best)

Shariah Compliance Screening of NAPS Global India Ltd.

For an IPO or Stocks to be considered Halal, it must pass all the Shariah screening criteria, which include:

Criteria	Value	Status
Business Activity	Castings and Forgings	✅ PASS
Impermissible Income to Total Revenue	0.05% (Less than 5%)	✅ PASS
Interest-Bearing Debt to Total Assets	49.03% (Less than 33%)	❌ FAIL
illiquid Assets to Total Assets Ratio	72.13% (Atleast 20%)	✅ PASS
Net Liquid Assets vs Market Capitalisation	Compliant as per Shariah principles	✅ PASS
Non-Compliant Investments to Total Assets	Less than 33% (Compliant)	✅ PASS

Listing Details of Super Iron Foundry Ltd IPO

IPO Opening Date	Tue, March 11, 2025
IPO Closing Date	Thur, March 13, 2025
Expected Allotment Date	Mon, March 17, 2025
Refund Initiation	Tue, March 18, 2025
Shares Credited to Demat	Tue, March 18, 2025
Expected Listing Date	Wed, March 19, 2025
UPI Mandate Confirmation Deadline	5 PM on March 13, 2025

Business Overview of Super Iron Foundry Ltd

Super Iron Foundry Limited, established in 1988 and based in Kolkata, specializes in manufacturing ductile iron and cast iron products for municipal, automotive, agricultural, and railway applications. Its Durgapur facility, spanning 20 acres, has a production capacity of 72,000 metric tons annually. 

The company exports to over 38 countries and has supplied major projects like Lusail FIFA Stadium and Dubai South Development. With ISO certifications and advanced automation, it ensures high-quality standards. Super Iron Foundry is set to launch its IPO in March 2025 to fund expansion, strengthening its position as a leader in the iron casting industry.

Super Iron Foundry Ltd. Financial Information (Restated)

Category	31 Dec 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	₹226.62 Cr	₹232.32 Cr	₹209.2 Cr	₹197.75 Cr
Revenue	₹94.91 Cr	₹156.87 Cr	₹126.23 Cr	₹132.31 Cr
Profit After Tax	₹9.53 Cr	₹3.94 Cr	₹1.28 Cr	₹0.88 Cr
Net Worth	₹70.59 Cr	₹56.56 Cr	₹52.62 Cr	₹51.33 Cr
Reserves & Surplus	₹53.5 Cr	₹40.06 Cr	₹36.12 Cr	₹34.83 Cr
Total Borrowing	₹110.96 Cr	₹118.63 Cr	₹120.44 Cr	₹125.72 Cr

Conclusion

The Super Iron Foundry Ltd IPO appeared to be Not halal and Non-Shariah compliant based on the Shariah screening Standard and the most recent financial report, which was released on March 03 2025.

However, investors should conduct their own due diligence and review the company’s financials periodically for any changes in compliance.

Disclaimer: The information on Halalfinance.co.in is for educational and informational purposes only and not financial advice. We are not liable for any investment decisions you make; always consult a financial advisor before investing.