Balance sheet of Sangam (India) is moderately strong, But short term working capital might become an issue for this company.

Yes, The net debt of Sangam (India) is increasing.
Latest net debt of Sangam (India) is ₹1,144 Crs as of Mar-26.
This is greater than Mar-25 when it was ₹1,031 Crs.

Yes, profit is increasing.
The profit of Sangam (India) is ₹122 Crs for TTM, ₹82.6 Crs for Mar 2026 and ₹31.8 Crs for Mar 2025.

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
Sangam (India) latest dividend payout ratio is 12.17% and 3yr average dividend payout ratio is 22.8%

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