Richa industries balance sheet is weak and might have solvency issues

The net debt of Richa industries is decreasing.
Latest net debt of Richa industries is ₹377 Crs as of Mar-24.
This is less than Mar-23 when it was ₹379 Crs.

Yes, profit is increasing.
The profit of Richa industries is -₹16.76 Crs for Mar 2024, -₹19.71 Crs for Mar 2023 and -₹34.55 Crs for Mar 2022

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
Richa industries latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

Companies resources are majorly tied in miscellaneous assets