TSX Shariah screener · October 2026

Is TVA Group Inc. (TVA.B) Halal?

PASS

TVA Group Inc. · TSX: TVA.B · Telecom

The short answer

TVA Group Inc. (TSX: TVA.B) is a PASS in our October 2026 screen. All three gates pass: its business is French-language television broadcasting and media production (no prohibited lines); interest-bearing debt of C$6.9M at June 30, 2026 is about 6.5% of its ~C$105.9M market cap, well under the ~33% ceiling; and interest income of C$0.7M was about 0.5% of Q2 2026 revenue of C$143.3M, well under the ~5% ceiling.

Gate 1 — Business activity: PASS

TVA Group is a French-language media company: it operates the TVA Network (flagship conventional television network), the LCN all-news channel and TVA Sports, plus specialty channels addikTV, CASA, Évasion, Prise 2, QUB, Témoin and Zeste; it publishes magazines, provides film-production and audiovisual services through MELS, and produces and distributes content through Incendo. A permissible media business; no alcohol, pork, gambling, conventional finance, tobacco, cannabis, weapons or adult-entertainment lines. Facts only.

Gate 2 — Debt and cash: PASS

Interest-bearing debt at June 30, 2026 was C$6.865M, entirely lease liabilities (C$1.881M current + C$4.984M non-current), per the Q2 2026 interim financial statements. No bank indebtedness or parent-company debt was drawn — the C$120M Quebecor Media revolving facility was extended on June 29, 2026 to June 30, 2027 and appears undrawn (Q2 paid only C$149k in standby fees). Market cap was approximately C$105.9M (43,205,535 shares x C$2.45) — a debt/market-cap ratio of ~6.5%, well under the ~33% ceiling, so the debt gate PASSES. Facts only.

Gate 3 — Non-compliant income: PASS

Q2 2026 interest income was C$0.725M (plain interest income C$0.171M plus C$0.554M related to defined benefit plans, included conservatively) on revenue of C$143.264M — about 0.5%, well under the ~5% ceiling, so the income gate PASSES. Facts only.

Key figures used

Interest-bearing debt C$6.9M at Jun 30, 2026 — entirely lease liabilities; the C$120M Quebecor Media facility (extended Jun 29, 2026) appears undrawn.
Market cap ~C$105.9M (43,205,535 shares x C$2.45) → debt ≈ 6.5% of market cap.
Q2 2026 revenue C$143.3M; interest income C$0.7M ≈ 0.5% of revenue (includes C$0.6M pension-plan-related interest, conservatively).
Q2 2026 interim financial statements filed July 30, 2026; 4,320,000 Class A + 38,885,535 Class B shares outstanding.
No Zoya, Musaffa or ShariaPortfolio rating found for TVA.B.

Frequently asked questions

Is TVA Group (TVA.B) halal?

Our October 2026 screen gives TVA Group (TVA.B) a PASS. Interest-bearing debt of C$6.9M is ~6.5% of its ~C$105.9M market cap (under the ~33% ceiling), interest income is ~0.5% of revenue (under the ~5% ceiling), and its French-language TV broadcasting and media business has no prohibited lines.

What does TVA Group do?

TVA Group is a French-language media company: the TVA Network flagship channel, LCN all-news, TVA Sports, specialty channels (addikTV, CASA, Évasion, Prise 2, QUB, Témoin, Zeste), magazines, MELS film-production and audiovisual services, and Incendo content production and distribution.

How much debt does TVA Group have?

At June 30, 2026, TVA Group carried C$6.865M of interest-bearing debt — entirely lease liabilities (C$1.881M current, C$4.984M non-current). Its C$120M Quebecor Media revolving credit facility, extended June 29, 2026 to June 30, 2027, appears undrawn.

What about its interest income?

Q2 2026 interest income was C$0.725M — plain interest income of C$0.171M plus C$0.554M related to defined benefit plans (included conservatively) — about 0.5% of C$143.264M in revenue, well under the ~5% ceiling.

Where can I find more telecom stock screeners?

See our full list of stock screeners at halal-stock-verdicts.html, which covers every company screened so far.

Sources

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.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).