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

Yes, The net debt of Madhav Copper is increasing.
Latest net debt of Madhav Copper is ₹35.14 Crs as of Sep-25.
This is greater than Mar-25 when it was ₹25.3 Crs.

The profit is oscillating.
The profit of Madhav Copper is ₹3.46 Crs for TTM, ₹4.69 Crs for Mar 2025 and ₹1.23 Crs for Mar 2024.

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

Companies resources are allocated to majorly unproductive assets like Inventory, Accounts Receivable