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

Yes, The debt of IVP is increasing.
Latest debt of IVP is ₹96.5 Crs as of Sep-24.
This is greater than Mar-24 when it was ₹85.17 Crs.

No, profit is decreasing.
The profit of IVP is ₹12.22 Crs for TTM, ₹12.28 Crs for Mar 2024 and ₹28.02 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.
IVP latest dividend payout ratio is 8.41% and 3yr average dividend payout ratio is 7.58%

Companies resources are majorly tied in miscellaneous assets