India Steel Works balance sheet is weak and might have solvency issues

Yes, The debt of India Steel Works is increasing.
Latest debt of India Steel Works is ₹92.24 Crs as of Mar-24.
This is greater than Mar-23 when it was ₹70.1 Crs.

Yes, profit is increasing.
The profit of India Steel Works is -₹11.62 Crs for Mar 2024, -₹35.96 Crs for Mar 2023 and -₹50.67 Crs for Mar 2022

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
India Steel Works latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

Companies resources are majorly tied in miscellaneous assets