Xolopak India balance sheet is weak and might have solvency issues

Yes, The net debt of Xolopak India is increasing.
Latest net debt of Xolopak India is ₹3.22 Crs as of Mar-24.
This is greater than Mar-23 when it was ₹2.28 Crs.

Yes, profit is increasing.
The profit of Xolopak India is ₹6.36 Crs for Mar 2024, ₹3.49 Crs for Mar 2023 and ₹0.24 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.
Xolopak India 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, Short Term Loans & Advances