Add-Shop E-Retail balance sheet is weak and might have solvency issues

Yes, The net debt of Add-Shop E-Retail is increasing.
Latest net debt of Add-Shop E-Retail is ₹37.42 Crs as of Mar-25.
This is greater than Mar-24 when it was ₹10.86 Crs.

The profit is oscillating.
The profit of Add-Shop E-Retail is ₹3.32 Crs for TTM, ₹3.16 Crs for Mar 2024 and ₹19.16 Crs for Mar 2023.

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
Add-Shop E-Retail latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Cash & Short Term Investments, Capital Work in Progress, Inventory, Accounts Receivable