BIBA Fashion balance sheet is weak and might have solvency issues

Yes, The net debt of BIBA Fashion is increasing.
Latest net debt of BIBA Fashion is ₹254 Crs as of Mar-24.
This is greater than Mar-23 when it was ₹199 Crs.

The profit is oscillating.
The profit of BIBA Fashion is -₹95.2 Crs for Mar 2024, ₹52.69 Crs for Mar 2023 and ₹12.29 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.
BIBA Fashion 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 Short Term Loans & Advances