Ester Inds balance sheet is weak and might have solvency issues

Yes, The net debt of Ester Inds is increasing.
Latest net debt of Ester Inds is ₹592 Crs as of Mar-25.
This is greater than Mar-24 when it was ₹539 Crs.

The profit is oscillating.
The profit of Ester Inds is ₹13.9 Crs for TTM, -₹121.05 Crs for Mar 2024 and ₹137 Crs for Mar 2023.

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
Ester Inds latest dividend payout ratio is 3.05% and 3yr average dividend payout ratio is 11.59%

Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Cash & Short Term Investments, Capital Work in Progress, Accounts Receivable, Short Term Loans & Advances