Normally, when dividend payout ratio is more than 100%, i consider dividend above 5 year payout ratio as one time/exceptional. FY22 EPS was arojnd Rs 42 (consolidated) which increEd to Rs 49 in FY23. However, payout at around Rs 44 in FY23 resume to around 90% dividend payout, which i believe shall be sustainable for long term. So, personally, do not see decline in dividend despite growth in profit as negative. This is my understanding and may be incorrect.
Discl: Hold tracking position. My view may be biased. Not a Sebi registered analyst. Not recommending any investment actions.
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