Renol Polychem balance sheet is weak and might have solvency issues

Yes, The net debt of Renol Polychem is increasing.
Latest net debt of Renol Polychem is ₹1.14 Crs as of Mar-25.
This is greater than Mar-24 when it was ₹0.74 Crs.

Yes, profit is increasing.
The profit of Renol Polychem is ₹5 Crs for Mar 2025, ₹3.94 Crs for Mar 2024 and ₹0 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.
Renol Polychem latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

Companies resources are allocated to majorly unproductive assets like Accounts Receivable