PAE balance sheet is weak and might have solvency issues

Yes, The net debt of PAE is increasing.
Latest net debt of PAE is ₹5.02 Crs as of Sep-25.
This is greater than Mar-25 when it was -₹0.13 Crs.

The profit is oscillating.
The profit of PAE is ₹13.48 Crs for Mar 2025, -₹0.68 Crs for Mar 2024 and ₹6.43 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.
PAE latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Cash & Short Term Investments, Capital Work in Progress, Inventory, Accounts Receivable, Short Term Loans & Advances