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

Yes, The debt of Bajaj Corp is increasing.
Latest debt of Bajaj Corp is -₹35.57 Crs as of Sep-24.
This is greater than Mar-24 when it was -₹88.7 Crs.

The profit is oscillating.
The profit of Bajaj Corp is ₹130 Crs for TTM, ₹155 Crs for Mar 2024 and ₹139 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.
Bajaj Corp latest dividend payout ratio is 27.56% and 3yr average dividend payout ratio is 49.46%

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