SK Minerals & Add balance sheet is weak and might have solvency issues

Yes, The net debt of SK Minerals & Add is increasing.
Latest net debt of SK Minerals & Add is ₹30.11 Crs as of Mar-24.
This is greater than Mar-23 when it was ₹22.9 Crs.

Yes, profit is increasing.
The profit of SK Minerals & Add is ₹3.1 Crs for Mar 2024, ₹1.89 Crs for Mar 2023 and ₹1.67 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.
SK Minerals & Add 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