Apollo Techno Indust balance sheet is weak and might have solvency issues

The net debt of Apollo Techno Indust is decreasing.
Latest net debt of Apollo Techno Indust is ₹31.2 Crs as of Mar-25.
This is less than Mar-24 when it was ₹42.7 Crs.

Yes, profit is increasing.
The profit of Apollo Techno Indust is ₹13.79 Crs for Mar 2025, ₹3.23 Crs for Mar 2024 and ₹0.9 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.
Apollo Techno Indust latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

Companies resources are allocated to majorly unproductive assets like Inventory, Accounts Receivable