Mangal Electrical balance sheet is weak and might have solvency issues

Yes, The net debt of Mangal Electrical is increasing.
Latest net debt of Mangal Electrical is ₹148 Crs as of Mar-25.
This is greater than Mar-24 when it was ₹78.12 Crs.

The profit is oscillating.
The profit of Mangal Electrical is ₹47.31 Crs for Mar 2025, ₹20.95 Crs for Mar 2024 and ₹24.74 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.
Mangal Electrical 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