Can convert acyl and alkyl dihydroxyacetone-phosphate (DHAP) into glycerolipids and ether lipids, respectively. Required for the biosynthesis of phosphatidic acid via the DHAP pathway, where it reduces 1-acyl DHAP to lysophosphatidic acid (LPA) (PubMed:1512203, PubMed:10617610). Also has triacylglycerol (TAG) lipase activity. Involved in the mobilization of the non-polar storage lipids triacylglycerols (TAGs) from lipid particles by hydrolysis of TAGs (PubMed:24187129). Required for spore germination (PubMed:10617610). Plays a role in cell wall biogenesis, but this effect may be indirect by affecting the activities of cell wall synthesis enzymes (PubMed:23956635). Lipolysis of TAG by AYR1 is essential for starvation-induced autophagy (PubMed:26162625). Forms an NADPH-regulated cation-selective channel in the mitochondrial outer membrane (PubMed:28916712). a 1-acylglycerone 3-phosphate + H(+) + NADPH = a 1-acyl-sn-glycero-3-phosphate + NADP(+) 1-hexadecanoyl-sn-glycero-3-phosphate + NADP(+) = 1-hexadecanoylglycerone 3-phosphate + H(+) + NADPH a triacylglycerol + H2O = a diacylglycerol + a fatty acid + H(+) 1,2,3-tri-(9Z-octadecenoyl)-glycerol + H2O = (9Z)-octadecenoate + di-(9Z)-octadecenoylglycerol + H(+) Inhibited by divalent cations and N-ethylmaleimide. Activity is reduced under anaerobic growth conditions. Optimum pH is 6.7-7.2. Optimum temperature is 40 degrees Celsius. Thermostable for 10 min up to 45 degrees Celsius. Expressed during vegetative growth with a maximum level of transcription at G1 phase, after which it is decreased during the remainder of the cell cycle. Reduces the activities of beta-1,3-glucan synthase and chitin synthase III, while increasing chitin synthase I and II activities. Shows altered cell wall composition as well as susceptibility towards cell wall inhibitors such as zymolyase, calcofluor white, and nikkomycin Z. Present with 3671 molecules/cell in log phase SD medium. Belongs to the short-chain dehydrogenases/reductases (SDR) family.