Vigor Plast India balance sheet is weak and might have solvency issues

The net debt of Vigor Plast India is decreasing.
Latest net debt of Vigor Plast India is ₹17.71 Crs as of Mar-25.
This is less than Mar-24 when it was ₹21.55 Crs.

Yes, profit is increasing.
The profit of Vigor Plast India is ₹5.15 Crs for Mar 2025, ₹2.93 Crs for Mar 2024 and ₹0.3 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.
Vigor Plast India latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

Companies resources are allocated to majorly productive assets like Plant & Machinery