Indobell Insulations balance sheet is weak and might have solvency issues

Yes, The debt of Indobell Insulations is increasing.
Latest debt of Indobell Insulations is ₹3.59 Crs as of Mar-24.
This is greater than Mar-23 when it was ₹2.79 Crs.

Yes, profit is increasing.
The profit of Indobell Insulations is ₹1.03 Crs for Mar 2024, ₹0.9 Crs for Mar 2023 and ₹0.15 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.
Indobell Insulations latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

Companies resources are allocated to majorly unproductive assets like Accounts Receivable