HRS Aluglaze balance sheet is weak and might have solvency issues

Yes, The net debt of HRS Aluglaze is increasing.
Latest net debt of HRS Aluglaze is ₹38.46 Crs as of Mar-25.
This is greater than Mar-24 when it was ₹24.34 Crs.

Yes, profit is increasing.
The profit of HRS Aluglaze is ₹5.15 Crs for Mar 2025, ₹1.79 Crs for Mar 2024 and ₹0.87 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.
HRS Aluglaze latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

Companies resources are allocated to majorly productive assets like Plant & Machinery