Balance sheet of Manaksia is strong.
It shouldn't have solvency or liquidity issues.

Yes, The net debt of Manaksia is increasing.
Latest net debt of Manaksia is -₹127.54 Crs as of Sep-25.
This is greater than Mar-25 when it was -₹470.62 Crs.

No, profit is decreasing.
The profit of Manaksia is ₹50.41 Crs for TTM, ₹55.98 Crs for Mar 2025 and ₹75.55 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.
Manaksia latest dividend payout ratio is 36.81% and 3yr average dividend payout ratio is 36.81%

Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Capital Work in Progress, Inventory, Accounts Receivable, Short Term Loans & Advances