HMT balance sheet is weak and might have solvency issues

Yes, The debt of HMT is increasing.
Latest debt of HMT is ₹828 Crs as of Sep-24.
This is greater than Mar-24 when it was ₹572 Crs.

Yes, profit is increasing.
The profit of HMT is ₹2,553 Crs for TTM, ₹2,551 Crs for Mar 2024 and -₹122.9 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.
HMT latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

Companies resources are majorly tied in miscellaneous assets