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Revenue Recognition (Tables) | 12 Months Ended
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Mar. 31, 2024
Revenue from Contract with Customer [Abstract] |
Revenue Disaggregated by Product Line and Geographic Area | The following tables present the Company's net sales disaggregated by market and geographic area:
|  | Year ended March 31, |
Market |  | 2024 |  |  | 2023 |  |  | 2022 |
Refining |  | $ | 29,087 |  |  | $ | 27,270 |  |  | $ | 24,406 |
Chemical/Petrochemical |  |  | 20,893 |  |  |  | 21,950 |  |  |  | 15,955 |
Defense |  |  | 99,493 |  |  |  | 65,327 |  |  |  | 62,189 |
Space |  |  | 13,282 |  |  |  | 21,180 |  |  |  | 5,744 |
Other Commercial |  |  | 22,778 |  |  |  | 21,391 |  |  |  | 14,520 |
Net sales |  | $ | 185,533 |  |  | $ | 157,118 |  |  | $ | 122,814 |
|  | Year ended March 31, |
Geographic Area |  | 2024 |  |  | 2023 |  |  | 2022 |
Asia |  | $ | 15,144 |  |  | $ | 16,040 |  |  | $ | 13,687 |
Canada |  |  | 4,229 |  |  |  | 4,464 |  |  |  | 3,583 |
Middle East |  |  | 2,568 |  |  |  | 2,914 |  |  |  | 2,489 |
South America |  |  | 733 |  |  |  | 3,021 |  |  |  | 1,972 |
U.S. |  |  | 155,908 |  |  |  | 127,519 |  |  |  | 97,718 |
All other |  |  | 6,951 |  |  |  | 3,160 |  |  |  | 3,365 |
Net sales |  | $ | 185,533 |  |  | $ | 157,118 |  |  | $ | 122,814 |
The following table presents the Company's revenue percentages disaggregated by revenue recognized over time or upon shipment:
|  | Year ended March 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Revenue recognized over time |  |  | 77 | % |  |  | 74 | % |  |  | 75 | %
Revenue recognized at shipment |  |  | 23 | % |  |  | 26 | % |  |  | 25 | %
Schedule of Net Contract Assets (Liabilities) | Net contract assets (liabilities) consisted of the following:
|  | March 31, 2024 |  |  | March 31, 2023 |  |  | Change |  |  | Change due to amounts acquired |  |  | Change due to revenue recognized |  |  | Change due to invoicing customers/ additional deposits |
Unbilled revenue (contract assets) |  | $ | 28,015 |  |  | $ | 39,684 |  |  | $ | (11,669 | ) |  | $ | 302 |  |  | $ | 97,828 |  |  | $ | (109,799 | )
Customer deposits (contract liabilities) |  |  | (71,987 | ) |  |  | (46,042 | ) |  |  | (25,945 | ) |  |  | (389 | ) |  |  | 29,086 |  |  |  | (54,642 | )
Net contract (liabilities) assets |  | $ | (43,972 | ) |  | $ | (6,358 | ) |  | $ | (37,614 | ) |  |  |  |  |  |  |  |  |

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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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