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

The debt of Lupin is decreasing.
Latest debt of Lupin is -₹1,185.51 Crs as of Mar-25.
This is less than Mar-24 when it was ₹286 Crs.

Yes, profit is increasing.
The profit of Lupin is ₹3,722 Crs for TTM, ₹3,282 Crs for Mar 2025 and ₹1,914 Crs for Mar 2024.

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
Lupin latest dividend payout ratio is 16.7% and 3yr average dividend payout ratio is 26.02%

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