Balance sheet of Cyient is strong.
It shouldn't have solvency or liquidity issues.

Yes, The net debt of Cyient is increasing.
Latest net debt of Cyient is -₹1,100.4 Crs as of Mar-25.
This is greater than Mar-24 when it was -₹1,514.4 Crs.

The profit is oscillating.
The profit of Cyient is ₹653 Crs for TTM, ₹683 Crs for Mar 2024 and ₹514 Crs for Mar 2023.

The company seems to pay a good stable dividend.
Cyient latest dividend payout ratio is 48.77% and 3yr average dividend payout ratio is 51.8%

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