Balance sheet of Piramal Pharma is strong.
But short term working capital might become an issue for this company.

Yes, The net debt of Piramal Pharma is increasing.
Latest net debt of Piramal Pharma is ₹3,743 Crs as of Mar-25.
This is greater than Mar-24 when it was ₹3,617 Crs.

The profit is oscillating.
The profit of Piramal Pharma is ₹28.97 Crs for TTM, ₹91.13 Crs for Mar 2025 and ₹17.82 Crs for Mar 2024.

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
Piramal Pharma latest dividend payout ratio is 20.35% and 3yr average dividend payout ratio is 51.0%

Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Inventory, Accounts Receivable