Shining Tools balance sheet is weak and might have solvency issues

Yes, The net debt of Shining Tools is increasing.
Latest net debt of Shining Tools is ₹8.11 Crs as of Mar-25.
This is greater than Mar-24 when it was ₹7.17 Crs.

Yes, profit is increasing.
The profit of Shining Tools is ₹2.93 Crs for Mar 2025, ₹1.58 Crs for Mar 2024 and -₹0.08 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.
Shining Tools 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