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Unaudited Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2024
Mar. 31, 2024
Current assets    
Cash and cash equivalents $ 348,628,442 $ 282,507,971
Restricted cash - current 788,151  
Trade receivables, net and accrued revenues 1,034,492 659,567
Due from related parties 60,941,092 52,352,942
Inventories 2,430,738 2,393,379
Available-for-sale debt securities 9,893,579 11,530,939
Derivative instruments 2,025,695 5,139,056
Prepaid expenses and other current assets 13,781,659 14,297,917
Total current assets 439,523,848 368,881,771
Fixed assets    
Vessels, net 1,178,842,709 1,208,588,213
Vessel under construction 24,657,708 23,829,678
Total fixed assets 1,203,500,417 1,232,417,891
Other non-current assets    
Deferred charges, net 12,060,949 12,544,098
Derivative instruments 1,299,869 4,145,153
Due from related parties-non-current 26,400,000 25,300,000
Restricted cash - non-current 78,011 75,798
Operating lease right-of-use assets 175,790,541 191,700,338
Other non-current assets 2,588,087 2,585,116
Total assets 1,861,241,722 1,837,650,165
Current liabilities    
Trade accounts payable 9,962,065 10,185,962
Accrued expenses 4,049,030 3,948,420
Due to related parties 464,259 7,283
Deferred income 1,545,914 486,868
Derivative instruments 46,220  
Current portion of long-term operating lease liabilities 33,671,870 32,491,122
Current portion of long-term debt 53,766,642 53,543,315
Dividends payable 532,324 1,149,665
Total current liabilities 104,038,324 101,812,635
Long-term liabilities    
Long-term debt-net of current portion and deferred financing fees 525,241,805 551,549,215
Long-term operating lease liabilities 142,135,644 159,226,326
Other long-term liabilities 1,576,174 1,528,906
Total long-term liabilities 668,953,623 712,304,447
Total liabilities 772,991,947 814,117,082
Shareholders' equity    
Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued nor outstanding
Common stock, $0.01 par value, 450,000,000 shares authorized, 54,294,696 and 51,995,027 shares issued, 42,804,479 and 40,619,448 shares outstanding (net of treasury stock), as of September 30, 2024 and March 31, 2024, respectively 542,947 519,950
Additional paid-in-capital 864,375,031 772,714,486
Treasury stock, at cost; 11,490,217 and 11,375,579 shares as of September 30, 2024 and March 31, 2024, respectively (131,096,907) (126,837,239)
Retained earnings 354,428,704 377,135,886
Total shareholders' equity 1,088,249,775 1,023,533,083
Total liabilities and shareholders' equity $ 1,861,241,722 $ 1,837,650,165