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

Yes, The debt of Perfectpac is increasing.
Latest debt of Perfectpac is ₹0.16 Crs as of Sep-24.
This is greater than Mar-24 when it was -₹2.58 Crs.

The profit is oscillating.
The profit of Perfectpac is ₹3.62 Crs for TTM, ₹3.98 Crs for Mar 2024 and ₹2.83 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.
Perfectpac latest dividend payout ratio is 16.73% and 3yr average dividend payout ratio is 31.88%

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