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

Yes, The net debt of Maiden Forgings is increasing.
Latest net debt of Maiden Forgings is ₹66.69 Crs as of Sep-25.
This is greater than Mar-25 when it was ₹64.1 Crs.

No, profit is decreasing.
The profit of Maiden Forgings is ₹4.1 Crs for TTM, ₹6.05 Crs for Mar 2025 and ₹9.72 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.
Maiden Forgings 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 and unproductive assets like Inventory, Accounts Receivable