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

Yes, The net debt of Redington is increasing.
Latest net debt of Redington is ₹1,238 Crs as of Mar-25.
This is greater than Mar-24 when it was -₹429.58 Crs.

The profit is oscillating.
The profit of Redington is ₹1,821 Crs for TTM, ₹1,219 Crs for Mar 2024 and ₹1,393 Crs for Mar 2023.

The company seems to pay a good stable dividend.
Redington latest dividend payout ratio is 39.77% and 3yr average dividend payout ratio is 40.16%

Companies resources are allocated to majorly unproductive assets like Accounts Receivable