Bai-Kakaji Polymers balance sheet is weak and might have solvency issues

The net debt of Bai-Kakaji Polymers is decreasing.
Latest net debt of Bai-Kakaji Polymers is ₹35.24 Crs as of Mar-24.
This is less than Mar-23 when it was ₹36.16 Crs.

Yes, profit is increasing.
The profit of Bai-Kakaji Polymers is ₹9.38 Crs for Mar 2024, ₹4.18 Crs for Mar 2023 and ₹4.11 Crs for Mar 2022

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
Bai-Kakaji Polymers 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 Inventory