Mihika Industries balance sheet is weak and might have solvency issues

Yes, The debt of Mihika Industries is increasing.
Latest debt of Mihika Industries is ₹0.13 Crs as of Sep-24.
This is greater than Mar-24 when it was -₹0.05 Crs.

Yes, profit is increasing.
The profit of Mihika Industries is ₹1.08 Crs for TTM, ₹0.18 Crs for Mar 2024 and -₹2.42 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.
Mihika Industries latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Capital Work in Progress, Inventory, Accounts Receivable