Connplex Cinemas balance sheet is weak and might have solvency issues

Yes, The net debt of Connplex Cinemas is increasing.
Latest net debt of Connplex Cinemas is -₹3 Crs as of Sep-25.
This is greater than Mar-25 when it was -₹3.03 Crs.

Yes, profit is increasing.
The profit of Connplex Cinemas is ₹22.65 Crs for TTM, ₹19.01 Crs for Mar 2025 and ₹4.09 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.
Connplex Cinemas 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