UPL balance sheet is weak and might have solvency issues

Yes, The debt of UPL is increasing.
Latest debt of UPL is ₹27,933 Crs as of Sep-24.
This is greater than Mar-24 when it was ₹19,358 Crs.

The profit is oscillating.
The profit of UPL is ₹61 Crs for TTM, -₹1,200 Crs for Mar 2024 and ₹3,570 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.
UPL latest dividend payout ratio is 21.01% and 3yr average dividend payout ratio is 21.05%

Companies resources are majorly tied in miscellaneous assets