Indexone Industries balance sheet is weak and might have solvency issues

The net debt of Indexone Industries is decreasing.
Latest net debt of Indexone Industries is -₹131.08 Crs as of Mar-22.
This is less than Mar-21 when it was -₹52.53 Crs.

The profit is oscillating.
The profit of Indexone Industries is ₹16.76 Crs for Mar 2022, ₹25.55 Crs for Mar 2021 and ₹4.51 Crs for Mar 2020

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

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