Neochem Bio Solution balance sheet is weak and might have solvency issues

Yes, The net debt of Neochem Bio Solution is increasing.
Latest net debt of Neochem Bio Solution is ₹35.55 Crs as of Mar-25.
This is greater than Mar-24 when it was ₹32.96 Crs.

Yes, profit is increasing.
The profit of Neochem Bio Solution is ₹7.75 Crs for Mar 2025, ₹1.8 Crs for Mar 2024 and ₹1.07 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.
Neochem Bio Solution 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