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

Yes, The debt of Saj Hotels is increasing.
Latest debt of Saj Hotels is ₹2.2 Crs as of Sep-24.
This is greater than Mar-24 when it was ₹1.73 Crs.

The profit is oscillating.
The profit of Saj Hotels is ₹3.45 Crs for Mar 2024, ₹3.48 Crs for Mar 2023 and ₹1.32 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.
Saj Hotels latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

Companies resources are majorly tied in miscellaneous assets