Balance sheet of Polychem is strong.
It shouldn't have solvency or liquidity issues.

Yes, The debt of Polychem is increasing.
Latest debt of Polychem is -₹7.43 Crs as of Sep-24.
This is greater than Mar-24 when it was -₹10.11 Crs.

No, profit is decreasing.
The profit of Polychem is ₹5.34 Crs for TTM, ₹7.2 Crs for Mar 2024 and ₹7.23 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.
Polychem latest dividend payout ratio is 16.83% and 3yr average dividend payout ratio is 17.32%

Companies resources are majorly tied in miscellaneous assets