AYI

What You Should Know

Acuity Brands, Inc. is a publicly-traded industrial-technology company and a market-leading provider of lighting, lighting-controls, building-management, and location-aware applications, organized into two reporting segments: Acuity Brands Lighting and Lighting Controls (ABL) — luminaires, lighting-controls, and components for commercial, industrial, institutional, and residential applications under brands including Lithonia Lighting, Holophane, Juno, and others — and the Intelligent Spaces Group (AIS) — building-management-systems, controls, and spatial-data-and-location-aware technologies. Lighting manufacturing, lighting-controls manufacturing, and intelligent-building-management-systems manufacturing are general-purpose building-products-and-technology activities that are unambiguously permissible at the activity level under standard Sharia methodology. The financial screen passes comfortably: Acuity operates a moderate-to-low-leverage balance sheet with strong free-cash-flow conversion and an active share-repurchase program, and the debt-to-market-cap ratio generally sits below the 33% Sharia threshold. Most major Sharia advisory boards classify Acuity Brands as permissible with purification of small interest-income components.