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Revenue Recognition (Tables) | 6 Months Ended
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Sep. 30, 2023
Revenue from Contract with Customer [Abstract] |
Net Sales Disaggregated by Product Line and Geographic Area | The following table presents the Company’s revenue disaggregated by product line and geographic area:
|  | Three Months Ended |  |  | Six Months Ended |
|  | September 30, |  |  | September 30, |
Market |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Refining |  | $ | 7,289 |  |  | $ | 7,568 |  |  | $ | 14,156 |  |  | $ | 15,443 |
Chemical/Petrochemical |  |  | 4,365 |  |  |  | 5,804 |  |  |  | 10,406 |  |  |  | 11,679 |
Defense |  |  | 25,118 |  |  |  | 14,855 |  |  |  | 47,935 |  |  |  | 24,655 |
Space |  |  | 2,775 |  |  |  | 4,306 |  |  |  | 7,597 |  |  |  | 10,768 |
Other Commercial |  |  | 5,529 |  |  |  | 5,610 |  |  |  | 12,551 |  |  |  | 11,673 |
Net sales |  | $ | 45,076 |  |  | $ | 38,143 |  |  | $ | 92,645 |  |  | $ | 74,218 |
Geographic Area |  |  |  |  |  |  |  |  |  |  |  |
Asia |  | $ | 2,980 |  |  | $ | 4,255 |  |  | $ | 8,882 |  |  | $ | 8,503 |
Canada |  |  | 1,092 |  |  |  | 1,707 |  |  |  | 1,991 |  |  |  | 2,704 |
Middle East |  |  | 669 |  |  |  | 686 |  |  |  | 1,718 |  |  |  | 1,145 |
South America |  |  | 172 |  |  |  | 399 |  |  |  | 199 |  |  |  | 1,860 |
U.S. |  |  | 38,604 |  |  |  | 30,325 |  |  |  | 76,745 |  |  |  | 58,494 |
All other |  |  | 1,559 |  |  |  | 771 |  |  |  | 3,110 |  |  |  | 1,512 |
Net sales |  | $ | 45,076 |  |  | $ | 38,143 |  |  | $ | 92,645 |  |  | $ | 74,218 |
The following table presents the Company's revenue percentages disaggregated by revenue recognized over time or upon shipment:
|  | Three Months Ended |  |  | Six Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Revenue recognized over time |  |  | 75 | % |  |  | 75 | % |  |  | 78 | % |  |  | 70 | %
Revenue recognized at shipment |  |  | 25 | % |  |  | 25 | % |  |  | 22 | % |  |  | 30 | %
Schedule of Net Contract Assets (Liabilities) | Net contract assets (liabilities) consisted of the following:
|  | September 30, 2023 |  |  | March 31, 2023 |  |  | Change |  |  | Change due to revenue recognized |  |  | Change due to invoicing customers/ additional deposits |
Unbilled revenue (contract assets) |  | $ | 34,975 |  |  | $ | 39,684 |  |  | $ | (4,709 | ) |  | $ | 54,904 |  |  | $ | (59,613 | )
Customer deposits (contract liabilities) |  |  | (59,526 | ) |  |  | (46,042 | ) |  |  | (13,484 | ) |  |  | 11,797 |  |  |  | (25,281 | )
Net contract (liabilities) assets |  | $ | (24,551 | ) |  | $ | (6,358 | ) |  | $ | (18,193 | ) |  |  |  |  |  |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-5 + Details
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