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

The net debt of Polycab India is decreasing.
Latest net debt of Polycab India is -₹1,432.24 Crs as of Mar-25.
This is less than Mar-24 when it was -₹714.94 Crs.

Yes, profit is increasing.
The profit of Polycab India is ₹2,020 Crs for Mar 2025, ₹1,784 Crs for Mar 2024 and ₹1,271 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.
Polycab India latest dividend payout ratio is 26.06% and 3yr average dividend payout ratio is 24.97%

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