v3.26.1
Consolidated Statements of Cash Flows
 12 Months Ended
Mar. 31, 2026
USD ($)
Mar. 31, 2025
USD ($)
Mar. 31, 2024
USD ($)
Cash flows from operating activities:      
Net income $ 193,665,933 $ 90,170,480 $ 307,446,913
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 71,743,685 69,599,087 68,665,907
Non-cash lease expense 40,475,341 32,487,533 29,116,821
Amortization of financing costs 1,144,442 1,219,532 1,243,360
Unrealized loss/(gain) on derivatives 1,160,068 5,786,717 (5,665)
Stock-based compensation expense 11,028,854 10,423,520 8,334,838
Unrealized foreign currency (gain)/loss, net (120,516) (18,153) 285,277
Other non-cash items, net (960,549) 821,699 (3,230,571)
Changes in operating assets and liabilities      
Trade receivables, inventories, prepaid expenses, and other current and non-current assets (7,500,481) (1,072,377) (926,439)
Due from related parties (48,947,283) 3,162,641 16,317,153
Operating lease liabilities - current and long-term (40,433,457) (32,488,879) (28,210,348)
Trade accounts payable (1,070,501) (35,347) (1,266,860)
Accrued expenses and other liabilities 6,981,986 1,424,045 (1,338,519)
Due to related parties (39,339) 32,056 (161,510)
Payments for drydocking costs (16,984,571) (8,499,063) (7,823,549)
Net cash provided by operating activities 210,143,612 173,013,491 388,446,808
Cash flows from investing activities:      
Payments for vessels under construction and other capital expenditures for vessels (93,843,962) (18,948,804) (32,853,093)
Purchase of investment securities   (213,592) (5,978,390)
Proceeds from sale of investment securities     4,029,944
Proceeds from maturity of available-for-sale debt securities   11,800,000  
Net cash used in investing activities (93,843,962) (7,362,396) (34,801,539)
Cash flows from financing activities:      
Proceeds from long-term debt borrowings 62,900,531    
Repayment of long-term debt borrowings (54,504,778) (53,033,315) (53,110,676)
Repurchase of common stock (7,012,220) (6,266,718) (3,940,401)
Financing costs paid (2,276,557)   (407,500)
Dividends paid (105,007,158) (156,398,056) (162,260,785)
Proceeds from common share issuances   89,000,000  
Equity offering costs paid   (4,590,638)  
Net cash used in financing activities (105,900,182) (131,288,727) (219,719,362)
Effects of exchange rates on cash and cash equivalents 135,875 7,475 (215,788)
Net increase in cash, cash equivalents, and restricted cash 10,535,343 34,369,843 133,710,119
Cash, cash equivalents, and restricted cash at the beginning of the period 316,953,612 282,583,769 148,873,650
Cash, cash equivalents, and restricted cash at the end of the period 327,488,955 316,953,612 282,583,769
Supplemental disclosure of cash flow information      
Cash paid for interest, net of amounts capitalized 26,998,877 32,808,467 37,886,561
Cash paid for operating lease liabilities 49,230,267 42,290,030 42,101,279
Right of use assets recognized 29,949,304   62,646,575
Unpaid lease liability upon initial recognition 29,902,695   61,746,575
Capitalized drydocking costs included in liabilities 484,224 2,712,600 1,179,778
Vessel-related capital expenditures included in liabilities 748,201 1,003,032 1,027,316
Unpaid dividends included in liabilities 700,366 915,150 1,149,665
Financing costs included in liabilities 811,292 663,600 663,600
Reconciliation of cash and cash equivalents and restricted cash reported within the consolidated balance sheets to the total amount of such items reported in the statements of cash flows:      
Cash and cash equivalents 327,409,120 316,877,584 282,507,971
Restricted cash-non-current 79,835 76,028 75,798
Cash and cash equivalents and restricted cash at end of period shown in the statement of cash flows $ 327,488,955 $ 316,953,612 $ 282,583,769