Vikran Engineering balance sheet is weak and might have solvency issues

Yes, The net debt of Vikran Engineering is increasing.
Latest net debt of Vikran Engineering is ₹139 Crs as of Mar-25.
This is greater than Mar-24 when it was ₹85.3 Crs.

Yes, profit is increasing.
The profit of Vikran Engineering is ₹77.82 Crs for Mar 2025, ₹74.83 Crs for Mar 2024 and ₹42.84 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.
Vikran Engineering latest dividend payout ratio is 4.66% and 3yr average dividend payout ratio is 6.9%

Companies resources are allocated to majorly unproductive assets like Accounts Receivable, Short Term Loans & Advances