BWL balance sheet is weak and might have solvency issues

Yes, The net debt of BWL is increasing.
Latest net debt of BWL is ₹5.05 Crs as of Sep-25.
This is greater than Mar-24 when it was ₹2.74 Crs.

The profit is oscillating.
The profit of BWL is -₹0.54 Crs for Mar 2024, -₹0.29 Crs for Mar 2023 and -₹0.51 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.
BWL latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

Companies resources are allocated to majorly unproductive assets like Cash & Short Term Investments