Manugraph India balance sheet is weak and might have solvency issues

Yes, The net debt of Manugraph India is increasing.
Latest net debt of Manugraph India is ₹16.81 Crs as of Mar-24.
This is greater than Mar-23 when it was ₹7.38 Crs.

The profit is oscillating.
The profit of Manugraph India is -₹19.43 Crs for Mar 2024, -₹10.49 Crs for Mar 2023 and -₹14.53 Crs for Mar 2022

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

Companies resources are majorly tied in miscellaneous assets