ACC balance sheet is weak and might have solvency issues

Yes, The debt of ACC is increasing.
Latest debt of ACC is ₹0 Crs as of Mar-25.
This is greater than Mar-24 when it was -₹3,725.73 Crs.

Yes, profit is increasing.
The profit of ACC is ₹2,401 Crs for TTM, ₹2,336 Crs for Mar 2024 and ₹885 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.
ACC latest dividend payout ratio is 6.03% and 3yr average dividend payout ratio is 28.04%

Companies resources are majorly tied in miscellaneous assets