Classic Electrodes balance sheet is weak and might have solvency issues

The net debt of Classic Electrodes is decreasing.
Latest net debt of Classic Electrodes is ₹30.22 Crs as of Sep-25.
This is less than Mar-25 when it was ₹51.49 Crs.

Yes, profit is increasing.
The profit of Classic Electrodes is ₹11.98 Crs for TTM, ₹9.57 Crs for Mar 2025 and ₹9.56 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.
Classic Electrodes latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

Companies resources are allocated to majorly unproductive assets like Accounts Receivable, Short Term Loans & Advances