Balance sheet of Sangam (India) is moderately strong, But short term working capital might become an issue for this company.

Yes, The net debt of Sangam (India) is increasing.
Latest net debt of Sangam (India) is ₹1,144 Crs as of Mar-26.
This is greater than Mar-25 when it was ₹1,031 Crs.

The profit is oscillating.
The profit of Sangam (India) is ₹82.6 Crs for Mar 2026, ₹31.8 Crs for Mar 2025 and ₹40.82 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.
Sangam (India) latest dividend payout ratio is 12.17% and 3yr average dividend payout ratio is 22.8%

Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Accounts Receivable