What is IGC Pharma, Inc.'s Shariah compliance score?

IGC Pharma, Inc. (IGC) has a Shariah compliance score of 87/100 (Grade: A, Very Good). AAOIFI Standard No. 21 requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30%, (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%.

Does IGC Pharma, Inc. pass AAOIFI screening?

IGC Pharma, Inc. (IGC) passes AAOIFI Shariah screening. AAOIFI Standard No. 21 requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30%, (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%. IGC's debt-to-market-cap is 3.9%.

How much purification is needed for IGC Pharma, Inc.?

Muslim investors purify the portion of dividends and realized gains that comes from non-permissible income by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification computes the percentage and amount for IGC Pharma, Inc. (IGC) using the latest financial data.

Where can I screen IGC Pharma, Inc. for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for IGC Pharma, Inc. (IGC) and 8,200+ securities. US-listed stocks and ETFs are screened under AAOIFI Standard No. 21. Bursa Malaysia securities carry the Securities Commission Malaysia's official status. Coins are screened separately, under published scholarly opinion. The verdict is free, with no credit card or signup required for basic screening. The compliance grade, score, and debt ratio are free too; the full ratio breakdown is part of Pro.

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Compliance Status

Halal

Screened on Oct 8, 2026 · AAOIFI Standard 21

Very Good

87Score

Is IGC Pharma, Inc. (IGC) halal? Halal. Based on AAOIFI screening, IGC Pharma, Inc. passes both qualitative (business activity) and quantitative (financial ratio) screens with a compliance score of 87/100 (Grade: A).

Quote this verdict

HalalScreener rates IGC Pharma, Inc. (IGC) Halal, 87/100, grade A under AAOIFI Standard 21, screened Oct 8, 2026. Source: https://halalscreener.app/en/stock/IGC

AvoidBorderlineClean

Business activity

What the company sells is permissible.

Passed

Company debt

Well clear of the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

3.9% of 30.0% limit

PRO DETAIL

The verdict above is final and free.

Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.

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Screened according to AAOIFI Standard 21

What this means for you

You can own IGC

It passes both the business activity and financial ratio screens under AAOIFI Standard 21.

Purification amount is Pro

We have screened IGC's prohibited income, but the exact share you would need to purify is part of Pro.

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IGC: Is IGC Pharma, Inc. Halal?

IGC Pharma, Inc.

AMEXHealthcareUS

$0.28

Market Cap: 28.0M

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About IGC Pharma, Inc.

IGC Pharma, Inc. operates as a pharmaceutical firm, currently in the clinical development phase, dedicated to pioneering novel treatments for Alzheimer's, a debilitating condition. The company's pipeline includes two experimental drug candidates aimed at this disease: IGC-AD1, which is presently undergoing a Phase 2 clinical study for addressing agitation associated with Alzheimer's-related dementia, and TGR-63, which is still in its preclinical stage. Beyond its therapeutic development efforts, IGC Pharma also explores the application of artificial intelligence (AI) to advance Alzheimer's research. Established on April 29, 2005, by Ram Mukunda, the company maintains its principal office in Potomac, Maryland.

Sector: Healthcare · Industry: Biotechnology

Shariah Compliance Status

AAOIFI Standard 21Updated Oct 8, 2026

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Institutional-grade Shariah analysis

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The verdict above is final and free.

Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.

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Screened according to AAOIFI Standard 21

Compliance History

Halal, unchanged since Aug 2026.

No status changes recorded since we began tracking.

Tracked since Aug 2026. Updates automatically on each re-screen.

Fiscal: Q2 2026Data source: EDGAR

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Frequently Asked Questions

Is IGC Pharma, Inc. (IGC) halal to invest in?

Based on AAOIFI Standard 21 screening, IGC Pharma, Inc. (IGC) is rated Halal with a compliance grade of A (Very Good). It passes both the business activity screen (no primary involvement in prohibited sectors) and the quantitative financial ratio screen (debt, interest deposits, and prohibited income all below AAOIFI thresholds).

Why did IGC Pharma, Inc. get a A compliance rating?

IGC Pharma, Inc. (IGC) received a grade of A (Very Good) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 3.9% (limit 30%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change IGC Pharma, Inc.'s Shariah verdict?

IGC Pharma, Inc.'s verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.

How often is IGC Pharma, Inc. re-screened for Shariah compliance?

IGC Pharma, Inc. (IGC) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Oct 8, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.