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SEGMENTED INFORMATION

12 Months Ended

Mar. 31, 2022

Segmented Information Disclosure [Abstract]

22.

SEGMENTED INFORMATION

The Company’s reportable operating segments are components of the Company where separate financial information is available that is evaluated regularly by the Company’s Chief Executive Officer who is the Chief Operating Decision Maker (“CODM”). The operational segments are determined based on the Company’s management and internal reporting structure. Operating segments are summarized as follows:

Operational Segments	Subsidiaries Included in the Segment	Properties Included in the Segment
Mining
Henan Luoning	Henan Found and Henan Huawei	Ying Mining District
Hunan	Yunxiang	BYP
Guangdong	Guangdong Found	GC
Other	Infini Resources S.A. de C.V. and Xinbaoyuan	La Yesca, Kuanping
Administrative
Vancouver	Silvercorp Metals Inc. and holding companies
Beijing	Silvercorp Metals (China) Inc.

(a)

Segmented information for assets and liabilities are as follows:

March 31, 2022
	Mining								Administrative
	Henan
Statement of financial position items:	Luoning		Hunan		Guangdong		Other		Beijing		Vancouver		Total
Current assets	$	141,376	$	870	$	14,919	$	1,566	$	8,570	$	65,007	$	232,308
Plant and equipment		58,189		3,708		15,282		163		864		1,212		79,418
Mineral rights and properties		254,071		7,571		32,091		32,715		-		-		326,448
Investment in an associate		-		-		-		-		-		56,841		56,841
Other investments		72		-		-		-		-		17,696		17,768
Reclamation deposits		3,996		-		4,872		-		-		8		8,876
Long-term prepaids and deposits		588		104		282		-		-		-		974
Deferred income tax assets		-		-		905		-		-		-		905
Total assets	$	458,292	$	12,253	$	68,351	$	34,444	$	9,434	$	140,764	$	723,538

Current liabilities	$	37,161	$	545	$	5,155	$	2	$	295	$	2,880	$	46,038
Long-term portion of lease obligation		-		-		-		-		-		614		614
Deferred income tax liabilities		46,849		1,184		-		-		-		-		48,033
Environmental rehabilitation		6,053		1,044		1,642		-		-		-		8,739
Total liabilities	$	90,063	$	2,773	$	6,797	$	2	$	295	$	3,494	$	103,424

March 31, 2021
	Mining								Administrative
	Henan
Statement of financial position items:	Luoning		Hunan		Guangdong		Other		Beijing		Vancouver		Total
Current assets	$	124,636	$	909	$	11,177	$	191	$	4,322	$	79,954	$	221,189
Plant and equipment		53,651		3,833		15,765		59		965		1,456		75,729
Mineral rights and properties		225,023		7,345		28,314		16,747		-		-		277,429
Investment in an associate		-		-		-		-		-		53,457		53,457
Other investments		2,289		-		-		-		-		13,444		15,733
Reclamation deposits		3,898		-		4,607		-		-		8		8,513
Long-term prepaids and deposits		221		101		87		-		-		-		409
Long-term portion of lease receivable		-		-		-		-		-		183		183
Total assets	$	409,718	$	12,188	$	59,950	$	16,997	$	5,287	$	148,502	$	652,642

Current liabilities	$	28,654	$	625	$	4,570	$	-	$	112	$	3,214	$	37,175
Long-term portion of lease obligation		-		-		-		-		-		1,084		1,084
Deferred income tax liabilities		39,756		1,036		-		-		-		-		40,792
Environmental rehabilitation		6,115		993		755		-		-		-		7,863
Total liabilities	$	74,525	$	2,654	$	5,325	$	-	$	112	$	4,298	$	86,914

(b)

Segmented information for operating results is as follows:

Year ended March 31, 2022
	Mining												Administrative
	Henan
Statement of income:	Luoning			Hunan			Guangdong			Other			Beijing			Vancouver			Total
Revenue	$	176,751		$	-		$	41,172		$	-		$	-		$	-		$	217,923
Costs of mine operations		(106,706	)		(530	)		(26,345	)		(41	)		-			-			(133,622	)
Income from mine operations		70,045			(530	)		14,827			(41	)		-			-			84,301

Operating (expenses) income		(1,367	)		146			59			(143	)		(2,109	)		(18,322	)		(21,736	)
Finance items, net		2,862			(35	)		374			1			255			(8,950	)		(5,493	)
Income tax expenses		(12,612	)		(112	)		364			-			-			(1,428	)		(13,788	)
Net income (loss)	$	58,928		$	(531	)	$	15,624		$	(183	)	$	(1,854	)	$	(28,700	)	$	43,284

Attributable to:
Equity holders of the Company		46,099			(346	)		15,470			(77	)		(1,854	)		(28,658	)		30,634
Non-controlling interests		12,829			(185	)		154			(106	)		-			(42	)		12,650
Net income (loss)	$	58,928		$	(531	)	$	15,624		$	(183	)	$	(1,854	)	$	(28,700	)	$	43,284

⁽¹⁾

Hunan’s BYP project was placed on care and maintenance in August 2014.

Year ended March 31, 2021
	Mining												Administrative
	Henan
Statement of income:	Luoning			Hunan			Guangdong			Other			Beijing			Vancouver			Total
Revenue	$	157,297		$	1,553		$	33,255		$	-		$	-		$	-		$	192,105
Costs of mine operations		(83,090	)		(1,356	)		(23,497	)		-			-			-			(107,943	)
Income from mine operations		74,207			197			9,758			-			-			-			84,162

Operating expenses		(1,848	)		576			9			(6	)		(1,012	)		(10,157	)		(12,438	)
Finance items, net		1,788			(29	)		145			-			118			(243	)		1,779
Income tax expenses		(10,876	)		41			(960	)		-			(8	)		(1,191	)		(12,994	)
Net income (loss)	$	63,271		$	785		$	8,952		$	(6	)	$	(902	)	$	(11,591	)	$	60,509

Attributable to:
Equity holders of the Company		49,422			566			8,864			(3	)		(902	)		(11,571	)		46,376
Non-controlling interests		13,849			219			88			(3	)		-			(20	)		14,133
Net income (loss)	$	63,271		$	785		$	8,952		$	(6	)	$	(902	)	$	(11,591	)	$	60,509

(c)

Sales by metal

The sales generated for the year ended March 31, 2022 and 2021 were all earned in China and were comprised of:

	Year ended March 31, 2022
	Henan Luoning		Hunan		Guangdong		Total
Silver (Ag)	$	111,835	$	-	$	9,438	$	121,273
Gold (Au)		5,083		-		-		5,083
Lead (Pb)		48,504		-		8,586		57,090
Zinc (Zn)		7,489		-		21,353		28,842
Other		3,840		-		1,795		5,635
	$	176,751	$	-	$	41,172	$	217,923

	Year ended March 31, 2021
	Henan Luoning		Hunan		Guangdong		Total
Silver (Ag)		102,100	$	-	$	9,091	$	111,191
Gold (Au)		5,169		1,553		-		6,722
Lead (Pb)		42,836		-		7,628		50,464
Zinc (Zn)		5,898		-		15,895		21,793
Other		1,294		-		641		1,935
	$	157,297	$	1,553	$	33,255	$	192,105

(d)

Major customers

For the year ending March 31, 2022, four major customers (year ended March 31, 2021 – five) each accounted for 13%, 18%, 19%, and 19% (year ended March 31, 2021 – 11%, 12%, 15%, 16%, and 21%) and collectively 69% (year ended March 31, 2021 – 75%) of the total sales of the Company.