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

Yes, The debt of Jindal Stainless is increasing.
Latest debt of Jindal Stainless is ₹4,249 Crs as of Sep-24.
This is greater than Mar-24 when it was ₹1,973 Crs.

The profit is oscillating.
The profit of Jindal Stainless is ₹2,426 Crs for TTM, ₹2,713 Crs for Mar 2024 and ₹2,114 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.
Jindal Stainless latest dividend payout ratio is 9.1% and 3yr average dividend payout ratio is 9.42%

Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Cash & Short Term Investments