Virinchi balance sheet is weak and might have solvency issues

The net debt of Virinchi is decreasing.
Latest net debt of Virinchi is ₹145 Crs as of Mar-25.
This is less than Mar-24 when it was ₹160 Crs.

The profit is oscillating.
The profit of Virinchi is ₹0.72 Crs for Mar 2025, ₹13.7 Crs for Mar 2024 and ₹12.85 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.
Virinchi 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 and unproductive assets like Capital Work in Progress, Accounts Receivable