Balance sheet of Black Box is strong.
It shouldn't have solvency or liquidity issues.

Yes, The net debt of Black Box is increasing.
Latest net debt of Black Box is ₹424 Crs as of Mar-25.
This is greater than Mar-24 when it was -₹47.99 Crs.

Yes, profit is increasing.
The profit of Black Box is ₹215 Crs for TTM, ₹138 Crs for Mar 2024 and ₹23.7 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.
Black Box 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, Accounts Receivable, Short Term Loans & Advances