Balance sheet of Hindalco is moderately strong, But short term working capital might become an issue for this company.

Yes, The debt of Hindalco is increasing.
Latest debt of Hindalco is ₹48,436 Crs as of Sep-24.
This is greater than Mar-24 when it was ₹30,102 Crs.

Yes, profit is increasing.
The profit of Hindalco is ₹13,890 Crs for TTM, ₹10,155 Crs for Mar 2024 and ₹10,097 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.
Hindalco latest dividend payout ratio is 7.65% and 3yr average dividend payout ratio is 6.9%

Companies resources are majorly tied in miscellaneous assets