Dorian LPG Ltd (LPG)

Activity ratios

Short-term

Turnover ratios

Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 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
Inventory turnover 79.97 84.41 79.57 83.05 81.69 72.79 67.44 77.62 61.20 60.58 68.12 72.14 71.15 69.68 92.90 86.56 83.82 77.76 75.00 72.77
Receivables turnover 260.38 5.61 484.76 7.05 10.58 4.88 7.36 5.89 5.10 3.89 5.43 4.61 4.68 6.20 10.42 6.97 5.60 4.10 5.57 7.13
Payables turnover 17.37 21.42 19.42 24.67 19.19 16.38 14.54 15.09 14.96 15.88 18.42 19.93 16.90 17.74 17.53 12.06 17.11 14.69 13.46 13.41
Working capital turnover 1.29 1.35 1.49 1.55 2.10 2.33 2.87 2.68 2.75 2.33 2.19 1.82 1.29 2.40 6.31 3.30 4.43 2.21 2.76 2.67

Activity ratios are used to evaluate how efficiently a company manages its assets and liabilities to generate revenue.

1. Inventory turnover: Dorian LPG Ltd's inventory turnover has been gradually increasing over the years, indicating that the company is selling its inventory more frequently. A higher inventory turnover ratio suggests that the company is effectively managing its inventory levels and turning over its products quickly.

2. Receivables turnover: Dorian LPG Ltd's receivables turnover ratio has shown fluctuations over the periods provided. A higher receivables turnover ratio generally indicates that the company is collecting its receivables quickly, which is favorable as it reduces the risk of bad debts.

3. Payables turnover: The payables turnover ratio for Dorian LPG Ltd has also varied over time. A higher payables turnover ratio indicates that the company is paying its suppliers more frequently. This can imply good relationships with suppliers or potentially taking advantage of discounts for early payments.

4. Working capital turnover: Dorian LPG Ltd's working capital turnover ratio has fluctuated but generally remained at moderate levels. A higher working capital turnover ratio signifies that the company efficiently utilizes its working capital to generate sales.

Overall, these activity ratios suggest that Dorian LPG Ltd has been managing its operational efficiency effectively, particularly in terms of managing inventory, collecting receivables, paying suppliers, and utilizing working capital to drive revenue generation.

Average number of days

Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 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
Days of inventory on hand (DOH) days 4.56 4.32 4.59 4.40 4.47 5.01 5.41 4.70 5.96 6.02 5.36 5.06 5.13 5.24 3.93 4.22 4.35 4.69 4.87 5.02
Days of sales outstanding (DSO) days 1.40 65.01 0.75 51.80 34.51 74.81 49.58 62.01 71.50 93.74 67.27 79.12 78.05 58.91 35.04 52.39 65.15 89.04 65.52 51.16
Number of days of payables days 21.01 17.04 18.80 14.79 19.02 22.29 25.10 24.19 24.39 22.98 19.82 18.32 21.60 20.57 20.82 30.26 21.33 24.85 27.11 27.23

Dorian LPG Ltd's activity ratios provide insights into how efficiently the company manages its operations.

1. Days of Inventory on Hand (DOH):
- The trend in DOH shows a slight fluctuation over the years, ranging from a low of 3.93 days to a high of 6.02 days.
- Overall, Dorian LPG Ltd has been able to improve its inventory turnover efficiency as the number of days to sell its inventory has decreased slightly over time.

2. Days of Sales Outstanding (DSO):
- DSO indicates the average number of days it takes for the company to collect payments after making a sale.
- Dorian LPG Ltd's DSO has seen fluctuations, with values ranging from 0.75 days to 93.74 days.
- The company has managed to reduce its DSO significantly from the high point, indicating an improvement in its credit and collection policies.

3. Number of Days of Payables:
- This ratio reflects the number of days it takes for the company to pay its suppliers.
- Dorian LPG Ltd's payables days have varied between 14.79 days and 30.26 days, with a general decreasing trend over the years.
- A decrease in payables days suggests that the company is managing its working capital more effectively or may be renegotiating payment terms with its suppliers.

Overall, from the analysis of these activity ratios, it can be inferred that Dorian LPG Ltd has improved its operational efficiency in managing inventory, collecting receivables, and paying its suppliers over the years. These improvements indicate a positive trend towards optimizing the company's working capital management.

Long-term

Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 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
Fixed asset turnover — — — — — — 0.34 0.34 0.31 0.28 0.24 0.23 0.22 0.23 0.24 0.23 0.23 0.22 0.22 0.24
Total asset turnover 0.20 0.23 0.27 0.29 0.31 0.30 0.28 0.28 0.23 0.22 0.20 0.19 0.17 0.19 0.21 0.20 0.20 0.19 0.18 0.20

The Fixed Asset Turnover ratio measures how efficiently a company generates revenue from its fixed assets. For Dorian LPG Ltd, the Fixed Asset Turnover ratio has shown a fluctuating trend over the years, ranging from 0.22 to 0.34. An increase in this ratio indicates improved efficiency in utilizing fixed assets to generate sales.

On the other hand, the Total Asset Turnover ratio reflects how effectively a company utilizes all its assets to generate sales. Dorian LPG Ltd's Total Asset Turnover ratio has varied between 0.17 and 0.31 during the period under review. A higher Total Asset Turnover ratio suggests that the company is generating more revenue per dollar of assets.

Overall, the analysis of Dorian LPG Ltd's long-term activity ratios reveals fluctuations in both Fixed Asset Turnover and Total Asset Turnover ratios. It is essential for investors and stakeholders to monitor these ratios to assess the company's operational efficiency and asset utilization over time.