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

Yes, The debt of National Aluminium is increasing.
Latest debt of National Aluminium is -₹3,587.64 Crs as of Sep-24.
This is greater than Mar-24 when it was -₹5,111.14 Crs.

Yes, profit is increasing.
The profit of National Aluminium is ₹3,168 Crs for TTM, ₹1,988 Crs for Mar 2024 and ₹1,435 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.
National Aluminium latest dividend payout ratio is 27.71% and 3yr average dividend payout ratio is 41.92%

Companies resources are allocated to majorly unproductive assets like Cash & Short Term Investments, Capital Work in Progress