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Revenue Recognition (Tables) | 6 Months Ended
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Sep. 30, 2024
Revenue from Contract with Customer [Abstract] |
Revenue 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 |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Refining |  | $ | 8,416 |  |  | $ | 7,289 |  |  | $ | 16,658 |  |  | $ | 14,156 |
Chemical/Petrochemical |  |  | 5,422 |  |  |  | 4,365 |  |  |  | 10,205 |  |  |  | 10,406 |
Defense |  |  | 30,897 |  |  |  | 25,118 |  |  |  | 59,991 |  |  |  | 47,935 |
Space |  |  | 3,416 |  |  |  | 2,775 |  |  |  | 7,363 |  |  |  | 7,597 |
Other |  |  | 5,412 |  |  |  | 5,529 |  |  |  | 9,297 |  |  |  | 12,551 |
Net sales |  | $ | 53,563 |  |  | $ | 45,076 |  |  | $ | 103,514 |  |  | $ | 92,645 |
Geographic Region |  |  |  |  |  |  |  |  |  |  |  |
Asia |  | $ | 4,274 |  |  | $ | 2,980 |  |  | $ | 9,576 |  |  | $ | 8,882 |
Canada |  |  | 1,665 |  |  |  | 1,092 |  |  |  | 2,661 |  |  |  | 1,991 |
Middle East |  |  | 794 |  |  |  | 669 |  |  |  | 1,777 |  |  |  | 1,718 |
South America |  |  | 314 |  |  |  | 172 |  |  |  | 369 |  |  |  | 199 |
U.S. |  |  | 45,460 |  |  |  | 38,604 |  |  |  | 86,390 |  |  |  | 76,745 |
All other |  |  | 1,056 |  |  |  | 1,559 |  |  |  | 2,741 |  |  |  | 3,110 |
Net sales |  | $ | 53,563 |  |  | $ | 45,076 |  |  | $ | 103,514 |  |  | $ | 92,645 |
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, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Revenue recognized over time |  |  | 79 | % |  |  | 75 | % |  |  | 80 | % |  |  | 78 | %
Revenue recognized at shipment |  |  | 21 | % |  |  | 25 | % |  |  | 20 | % |  |  | 22 | %
Schedule of Net Contract Assets (Liabilities) | Net contract assets (liabilities) consisted of the following:
|  | September 30, 2024 |  |  | March 31, 2024 |  |  | Change |  |  |  | Change due to revenue recognized |  |  | Change due to invoicing customers/ additional deposits |
Unbilled revenue - contract assets |  | $ | 40,730 |  |  | $ | 28,015 |  |  | $ | 12,715 |  |  |  | $ | 52,216 |  |  | $ | (39,501 | )
Customer deposits - contract liabilities |  |  | (86,483 | ) |  |  | (71,987 | ) |  |  | (14,496 | ) |  |  |  | 34,439 |  |  |  | (48,935 | )
Net contract (liabilities) assets |  | $ | (45,753 | ) |  | $ | (43,972 | ) |  | $ | (1,781 | ) |  |  |  |  |  |  |

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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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