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

Yes, The debt of HEG is increasing.
Latest debt of HEG is ₹411 Crs as of Sep-24.
This is greater than Mar-24 when it was -₹200.97 Crs.

No, profit is decreasing.
The profit of HEG is ₹195 Crs for TTM, ₹312 Crs for Mar 2024 and ₹532 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.
HEG latest dividend payout ratio is 27.86% and 3yr average dividend payout ratio is 31.5%

Companies resources are majorly tied in miscellaneous assets