Dorian LPG Ltd (LPG)

Inventory turnover

		Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Cost of revenue (ttm)	US$ in thousands	127,424	172,115	141,654	100,876	100,226	99,402	99,221	101,229	101,188	108,369	108,444	105,439	108,450	101,026	99,972	99,225	94,034	94,450	102,056	103,587
Inventory	US$ in thousands	2,393	2,573	2,685	2,378	2,642	2,613	2,342	2,190	2,266	2,361	1,780	1,972	2,007	2,130	2,175	2,142	1,996	2,223	2,322	2,138
Inventory turnover		53.25	66.89	52.76	42.42	37.94	38.04	42.37	46.22	44.65	45.90	60.92	53.47	54.04	47.43	45.96	46.32	47.11	42.49	43.95	48.45

March 31, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $127,424K ÷ $2,393K
= 53.25

Inventory turnover for Dorian LPG Ltd has exhibited fluctuations over the past few quarters. The latest inventory turnover ratio of 53.25 as of March 31, 2024, suggests that the company is able to sell and replace its inventory approximately 53 times during the year. This indicates efficient management of inventory levels and a healthy sales process.

In comparison to previous quarters, the inventory turnover ratio has shown variability, with a peak of 66.89 in December 2023 and a low of 37.94 in March 2023. The company's inventory turnover ratio has generally been above 40, which is a positive indicator of effective inventory management.

Overall, Dorian LPG Ltd's inventory turnover ratio reflects a relatively consistent ability to manage its inventory efficiently and convert it into sales. However, it's important for the company to continue monitoring and optimizing its inventory levels to ensure optimal performance in the future.