Polymac Thermoformer balance sheet is weak and might have solvency issues

Yes, The debt of Polymac Thermoformer is increasing.
Latest debt of Polymac Thermoformer is ₹1.43 Crs as of Mar-24.
This is greater than Mar-23 when it was -₹6.83 Crs.

The profit is oscillating.
The profit of Polymac Thermoformer is ₹0.45 Crs for Mar 2023, ₹0.5 Crs for Mar 2022 and ₹0.11 Crs for Mar 2021

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
Polymac Thermoformer latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

Companies resources are majorly tied in miscellaneous assets