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

Yes, The debt of EMS is increasing.
Latest debt of EMS is -₹65.16 Crs as of Sep-24.
This is greater than Mar-24 when it was -₹152.54 Crs.

Yes, profit is increasing.
The profit of EMS is ₹185 Crs for TTM, ₹152 Crs for Mar 2024 and ₹108 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.
EMS latest dividend payout ratio is 7.29% and 3yr average dividend payout ratio is 7.29%

Companies resources are majorly tied in miscellaneous assets