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

The debt of Maiden Forgings is decreasing.
Latest debt of Maiden Forgings is ₹60.19 Crs as of Mar-24.
This is less than Mar-23 when it was ₹61.24 Crs.

Yes, profit is increasing.
The profit of Maiden Forgings is ₹9.72 Crs for TTM, ₹9.61 Crs for Mar 2023 and ₹2.19 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.
Maiden Forgings latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

Companies resources are allocated to majorly unproductive assets like Inventory