Dorian LPG Ltd (LPG)
Inventory turnover
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 158,113 | 100,226 | 101,188 | 108,450 | 94,035 |
| Inventory | US$ in thousands | 2,393 | 2,642 | 2,266 | 2,007 | 1,996 |
| Inventory turnover | 66.07 | 37.94 | 44.65 | 54.04 | 47.11 |
March 31, 2024 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $158,113K ÷ $2,393K
= 66.07
The inventory turnover ratio for Dorian LPG Ltd has shown fluctuations over the past five years. The ratio was 66.07 times in the most recent fiscal year (ending March 31, 2024), indicating that the company sold and replaced its inventory approximately 66 times during the year. This represents a significant increase compared to the previous year, where the inventory turnover was 37.94 times.
In fiscal year 2023 and 2022, the inventory turnover ratios were 44.65 times and 54.04 times, respectively, showing a decreasing trend from the highest point in 2021 at 54.04 times. The company's inventory turnover ratio was 47.11 times in 2020.
The fluctuation in the inventory turnover ratio indicates varying efficiency in managing and selling inventory over the years. A higher inventory turnover ratio generally implies that the company is selling its inventory quickly or has strong sales relative to its level of inventory. Conversely, a lower ratio may indicate slower-moving inventory or overstocking.
Further analysis and comparison with industry benchmarks could provide more insights into Dorian LPG Ltd's inventory management efficiency and operational performance.