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

Yes, The debt of Spectrum Electrical is increasing.
Latest debt of Spectrum Electrical is ₹91.39 Crs as of Sep-24.
This is greater than Mar-24 when it was ₹65.31 Crs.

Yes, profit is increasing.
The profit of Spectrum Electrical is ₹19.72 Crs for Mar 2024, ₹8.45 Crs for Mar 2023 and ₹7.66 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.
Spectrum Electrical latest dividend payout ratio is 7.91% and 3yr average dividend payout ratio is 13.83%

Companies resources are allocated to majorly unproductive assets like Cash & Short Term Investments, Accounts Receivable