TSX Shariah screener · October 2026
Is Baylin Technologies Inc. (BYL) Halal?
Baylin Technologies Inc. · TSX: BYL · Technology
The short answer
No — Baylin Technologies (BYL) fails this Shariah stock screen on the debt gate. Its RF/satellite communications equipment business (Galtronics, Sat-Lite, Advantech) is permissible, but gross interest-bearing debt of C$23.6M at Q2 2026 is about 38.1% of its C$61.91M market cap — over the ~33% ceiling. (Net debt of C$11.1M would pass; this screen uses gross interest-bearing debt.) No Zoya, Musaffa, or ShariaPortfolio rating was found for this ticker — honestly reported as absent, not invented.
Gate 1 — Business activity: PASS
Baylin Technologies Inc. (TSX:BYL) makes RF/satellite communications equipment through Galtronics, Sat-Lite, and Advantech. No alcohol, pork, gambling, conventional interest-based lending, tobacco, cannabis, weapons, or adult-entertainment lines were disclosed. Gate 1 passes. Facts only.
Gate 2 — Debt and cash: FAIL
Gross interest-bearing debt at June 30, 2026 was C$23.6M (bank credit C$4,653K + short-term loans C$1,031K + long-term loans C$17,904K). Against a market cap of roughly C$61.91M (C$0.22, September 30, 2026), debt ÷ market cap is about 38.1% — over the ~33% ceiling. Net debt of C$11.1M would pass, but this screen uses gross interest-bearing debt. Cash of C$12.6M is about 20% of market cap. Gate 2 fails. Facts only.
Gate 3 — Non-compliant income: PASS
For Q2 2026 the company reported 'investment income, net' of C$83K against revenue of C$22,019K — about 0.38%, under the ~5% ceiling. Gate 3 passes; the debt-gate failure is decisive. Facts only.
Key figures used
- Gross interest-bearing debt: C$23.6M at Jun 30, 2026 (bank credit C$4,653K + ST loans C$1,031K + LT loans C$17,904K) ≈ 38.1% of market cap — FAIL vs ~33%
- Market cap: C$61.91M (C$0.22, Sep 30, 2026); net debt C$11.1M would pass — screen uses gross debt
- Cash: ~C$12.6M (C$12.5M + C$118K restricted) ≈ 20% of market cap
- Q2 2026: revenue C$22,019K; 'investment income, net' C$83K → ~0.38% (PASS, moot)
- Business: RF/satellite communications equipment (Galtronics, Sat-Lite, Advantech) — no haram segments
Frequently asked questions
Is Baylin Technologies (BYL) halal?
No. Baylin Technologies fails this Shariah stock screen on the debt gate. Its RF/satellite communications equipment business (Galtronics, Sat-Lite, Advantech) is permissible, but gross interest-bearing debt of C$23.6M at Q2 2026 is about 38.1% of its C$61.91M market cap — over the ~33% ceiling. (Net debt of C$11.1M would pass; this screen uses gross interest-bearing debt.) This is a factual screen, not a religious ruling — consult a qualified scholar for personal guidance.
What is Baylin Technologies' debt-to-market-cap ratio?
About 38.1%. Gross interest-bearing debt at June 30, 2026 was C$23.6M (bank credit C$4,653K + short-term loans C$1,031K + long-term loans C$17,904K), against a market cap of roughly C$61.91M (C$0.22, September 30, 2026) — over the ~33% ceiling.
What does Baylin Technologies do?
Baylin Technologies Inc. (TSX:BYL) makes RF/satellite communications equipment through Galtronics, Sat-Lite, and Advantech.
How much investment income does Baylin Technologies earn relative to revenue?
For Q2 2026 the company reported 'investment income, net' of C$83K against revenue of C$22,019K — about 0.38%, under the ~5% ceiling. The debt-gate failure is decisive.
Where can I find more technology stock screeners?
See halal-stock-verdicts.html for the full list of stock screeners, including the other technology-sector entries.
Sources
- Baylin Technologies — Q2 2026 financial statements (Jun 30, 2026): C$23.6M gross interest-bearing debt; C$83K investment income on C$22,019K revenue
- Finnhub — BYL.TO quote (C$0.22, Sep 30, 2026)
Screened 2026-10-01 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.