Balance sheet of Ashapura Minechem is strong.
But short term working capital might become an issue for this company.

Yes, The net debt of Ashapura Minechem is increasing.
Latest net debt of Ashapura Minechem is ₹1,112 Crs as of Mar-26.
This is greater than Mar-25 when it was ₹919 Crs.

Yes, profit is increasing.
The profit of Ashapura Minechem is ₹390 Crs for TTM, ₹296 Crs for Mar 2025 and ₹287 Crs for Mar 2024.

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
Ashapura Minechem latest dividend payout ratio is 3.23% and 3yr average dividend payout ratio is 3.23%

Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Accounts Receivable