Eshbal Functional Food Inc

ESBL.V

Not Compliant
Exchange
Sector
Headquarters
Group
TSE
Consumer Non-Cyclicals
Canada
Micro cap

Eshbal Functional Food Inc is not Shariah Compliant because it fails the financial ratios.

50%

Impure Income*

-

Purification*

-

Zakat*

Financials

Market cap Group
Analysts' Rating
Price Target (Mean)
Price Target (Low)
Price Target (High)
Total Analysts
Micro cap
0
$0.00
$0.00
$0.00
0
Revenue Growth
Operating Margin
Net Profit Margin
Quick Ratio
Current Ratio
EPS Growth
-16.83%
-410.53%
-410.53%
0.00
19.99
0.00%

Shariah Compliance

  • Updated on July 26, 2025
Debt
✓
Non-Compliant Assets
5.73%
✓
Impure Income
50%
✗

AAOIFI Rulebook:

  • Non-compliant Liabilities (like Interest-based Debt) < 30% of Market cap
  • Non-compliant Assets (like Interest-based Investments) < 30% of Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: AAOIFI SS21

Debt
✓
Impure Income
50%
✗

S&P Sharia Rulebook:

  • Interest-based Debt < 33% of 36-mo avg. Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: S&P Shariah Methodology

Debt
✓
Impure Income
50%
✗

Dow Jones Islamic Market (DJIM) Rulebook:

  • Interest-based Debt < 33% of 24-mo avg. Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: DJIM Methodology

Debt
✓
Cash
4.7%
✓
Cash & AR
8.15%
✓
Impure Income
50%
✗

FTSE Shariah Rulebook:

  • Interest-based Debt < 33.33% of Total Assets
  • Cash and interest-bearing items < 33.33% of Total Assets
  • Accounts receivable and cash < 50% of Total Assets
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: FTSE RUSSELL

Debt
✓
Cash
4.7%
✓
Cash & AR
8.15%
✓
Impure Income
50%
✗

MSCI Islamic Rulebook:

  • Interest-based Debt < 33.33% of Total Assets
  • Cash and interest-bearing items < 33.33% of Total Assets
  • Accounts receivable and cash < 33.33% of Total Assets
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: MSCI Islamic Indexes

Impure Income Breakdown

-
-
Interest Income
50%

Note on Purification and Zakat:

  • Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly). 
  • If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
  • For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them. 

Company Profile

Eshbal Functional Food Inc. is a Canada-based food-tech company. With over 300 SKUs, including 80+ proprietary Better for You items, it offers gluten free flour blends and baked goods, protein snacks, dietary supplements, and superfoods utilizing natural ingredients, such as teff and chia. The Company specializes in developing and manufacturing gluten free baked products according to the highest food and health standards in the industry in its gluten free manufacturing facility in Kibbutz Maanit, Israel. It also manufactures sugar-free products, vegan products, syrups, and dry mixes, including sweeteners and a line of low-carb products. It focuses on the development of formulations of functional food products that promote health beyond their nutritional values, for retail brands, private labels, and B2B. Its products can be found in many supermarkets, as well as other food retailers, health stores and foodservice throughout Israel and selected countries in North America and Europe.

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