Balance sheet of Indian Phosphate is strong.
But short term working capital might become an issue for this company.

The net debt of Indian Phosphate is decreasing.
Latest net debt of Indian Phosphate is ₹38.99 Crs as of Mar-25.
This is less than Mar-24 when it was ₹87.53 Crs.

No, profit is decreasing.
The profit of Indian Phosphate is ₹7.31 Crs for TTM, ₹13.12 Crs for Mar 2024 and ₹16.6 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.
Indian Phosphate latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

Companies resources are allocated to majorly unproductive assets like Inventory