HM Electro Mech balance sheet is weak and might have solvency issues

Yes, The debt of HM Electro Mech is increasing.
Latest debt of HM Electro Mech is ₹12.09 Crs as of Mar-24.
This is greater than Mar-23 when it was ₹2.6 Crs.

Yes, profit is increasing.
The profit of HM Electro Mech is ₹8.19 Crs for Mar 2024, ₹6.01 Crs for Mar 2023 and ₹2.58 Crs for Mar 2022

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
HM Electro Mech latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

Companies resources are majorly tied in miscellaneous assets