Balance sheet of Bluestone Jewellery is moderately strong, But short term working capital might become an issue for this company.

Yes, The net debt of Bluestone Jewellery is increasing.
Latest net debt of Bluestone Jewellery is ₹741 Crs as of Mar-25.
This is greater than Mar-24 when it was ₹660 Crs.

The profit is oscillating.
The profit of Bluestone Jewellery is -₹221.67 Crs for Mar 2025, -₹167.24 Crs for Mar 2023 and -₹1,268.41 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.
Bluestone Jewellery latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Inventory