Indiqube Spaces balance sheet is weak and might have solvency issues

Yes, The net debt of Indiqube Spaces is increasing.
Latest net debt of Indiqube Spaces is ₹332 Crs as of Mar-25.
This is greater than Mar-24 when it was ₹163 Crs.

The profit is oscillating.
The profit of Indiqube Spaces is -₹141.05 Crs for Mar 2025, -₹341.51 Crs for Mar 2024 and -₹198.11 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.
Indiqube Spaces 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