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

Yes, The net debt of HEG is increasing.
Latest net debt of HEG is ₹438 Crs as of Mar-25.
This is greater than Mar-24 when it was -₹200.97 Crs.

No, profit is decreasing.
The profit of HEG is ₹97.57 Crs for TTM, ₹312 Crs for Mar 2024 and ₹532 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.
HEG latest dividend payout ratio is 27.86% and 3yr average dividend payout ratio is 31.5%

Companies resources are majorly tied in miscellaneous assets