Feed / LPG

Dorian LPG Ltd.

LPG

Energy · 56.58 +2.8% today

Participation confirmed · construction unavailableMarket checked 1 Oct, 15:55 GMT-4

Market read

Dorian LPG Ltd.'s move is spreading beyond its market group.

No new filing conclusion is available. 16 of 20 group members are active now; 3 filing-linked outsiders are moving with the group, and 0 of 12 directly disclosed connections are confirming.

Company+2.8% todayVolume comparison unavailable
Market group16 of 20 activeOil & Gas Midstream · active
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
  • At least 13 of 20 members remain active in the next snapshot.
  • Capital-flow agreement rises above 55%.
  • GNK remains aligned with the group in the next market snapshot.

Invalidation: The live read weakens if participation falls to 7 of 20 members or fewer.

Watch this read

Research brief

The story so far

Energy · Oil & Gas Midstream

No new filing conclusion is available. 16 of 20 group members are active now; 3 filing-linked outsiders are moving with the group, and 0 of 12 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • At least 13 of 20 members remain active in the next snapshot.
  • Capital-flow agreement rises above 55%.
  • GNK remains aligned with the group in the next market snapshot.

Company research

Understand the business, not just the ticker

As of Oct 2, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations334
Usable filing statements79
Verified relationships12
Evidence supporting the case
  • Latest annual revenue changed +36.3% year over year.
  • Operating margin changed +11.8 percentage points in the latest annual period.
  • Net margin changed +14.7 percentage points in the latest annual period.
Evidence challenging the case

No qualifying adverse evidence was identified; that is not proof there is no downside.

Questions before a position
  • P/E is 32% below the available filing-peer median; determine whether growth and quality justify the difference.
  • EV/sales is 27% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Oct 1, 2026

56.58
6m+72.5%12m+75.2%24m—
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2022-03-31$274.2M-13.2%$1.78-19.0%
2023-03-31$389.7M+42.1%$4.29-0.4%
2024-03-31$560.7M+43.9%$7.60+0.6%
2025-03-31$353.3M-37.0%$2.14+4.4%
2026-03-31$481.5M+36.3%$4.54+0.9%

What management says matters

Persistent and emerging business drivers

Legal and regulatory exposuremixed · 5 filings
“As of March 31, 2026 we had the following time charter-in commitments relating to VLGCs: ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2026 ​ Less than one year ​ $ 6,235,958 ​ ​ Operating Leases ​ We had the following commitments as a lessee under operating leases relating to o…”
10-K · May 27, 2026 ↗
Capital investment and capacitymixed · 4 filings
“For the year ended March 31, 2025, net cash used in investing activities was mainly comprised of $18.9 million in payments for a vessel under construction and vessel capital expenditures, partially offset by $11.8 million in proceeds from maturity of availabl…”
10-K · May 27, 2026 ↗
Credit and interest ratesmixed · 2 filings
“Any unamortized balance of costs relating to credit facilities refinanced is deferred and amortized over the term of the respective credit facility in the period the refinancing occurs, subject to the provisions of the accounting guidance relating to Debt—Mod…”
10-K · May 27, 2026 ↗
Restructuring and cost reductionsmixed · 1 filings
“We identified future TCE rates used in the future undiscounted net operating cash flows analysis of a vessel with impairment indicators, as a critical audit matter because of the complex judgments made by management to estimate future TCE rates and the signif…”
10-K · May 27, 2026 ↗

Valuation discipline

Descriptive valuation snapshot

Price/sales 5.0× · EV/sales 5.3×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

56.58+2.8% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 1 Oct, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for LPG. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for LPG. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind LPG

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

CVXChevron CorporationcustomerMay 27, 2026 ▾

“As of May 22, 2026, all twenty-seven of our VLGCs, including the six time chartered-in vessels, were deployed in the Helios Pool.”

EQNREquinor ASAcustomerMay 27, 2026 ▾

“As of May 22, 2026, all twenty-seven of our VLGCs, including the six time chartered-in vessels, were deployed in the Helios Pool.”

GLCNFFiling-linked namecustomerMay 27, 2026 ▾

“As of May 22, 2026, all twenty-seven of our VLGCs, including the six time chartered-in vessels, were deployed in the Helios Pool.”

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 9 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

LPG is currently a Participant in the organic co-movement group Oil & Gas Midstream. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.