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

Yes, The net debt of Siddhika Coatings is increasing.
Latest net debt of Siddhika Coatings is -₹11.3 Crs as of Sep-24.
This is greater than Mar-24 when it was -₹14.97 Crs.

Yes, profit is increasing.
The profit of Siddhika Coatings is ₹7.22 Crs for TTM, ₹5.03 Crs for Mar 2024 and ₹3.77 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.
Siddhika Coatings latest dividend payout ratio is 20.26% and 3yr average dividend payout ratio is 29.11%

Companies resources are allocated to majorly unproductive assets like Cash & Short Term Investments, Accounts Receivable