Neptune Logitek balance sheet is weak and might have solvency issues

The net debt of Neptune Logitek is decreasing.
Latest net debt of Neptune Logitek is ₹57.58 Crs as of Mar-25.
This is less than Mar-24 when it was ₹59.82 Crs.

Yes, profit is increasing.
The profit of Neptune Logitek is ₹9.16 Crs for Mar 2025, ₹0 Crs for Mar 2024 and -₹0.18 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.
Neptune Logitek latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

Companies resources are allocated to majorly unproductive assets like Accounts Receivable