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Significant Customer and Other Information | 12 Months Ended
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Mar. 31, 2024
Significant Customer and Other Information [Abstract] |
Significant Customer and Other Information | 15. Significant Customer and Other Information Significant Customer Concentrations While the Company continually seeks to diversify its customer base, it currently derives, and has historically derived, a substantial portion of its sales from a small number of large customers. Any meaningful reduction in the level of sales to any of these customers, deterioration of the financial condition of any of these customers or the loss of any of these customers could have a materially adverse impact on our business, results of operations, and financial condition. The Company’s largest customers accounted for the following total percentage of net sales:
|  | Years Ended March 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Customer A |  |  | 35 | % |  |  | 37 | % |  |  | 38 | %
Customer C |  |  | 27 | % |  |  | 24 | % |  |  | 29 | %
Customer B |  |  | 21 | % |  |  | 23 | % |  |  | 18 | %
Customer D |  |  | 4 | % |  |  | 4 | % |  |  | 2 | %
Revenues for Customers A through C were derived from the Hard Parts segment and Test Solutions and Diagnostic Equipment segment. Revenues for Customer D were derived from the Hard Parts segment. The Company’s largest customers accounted for the following total percentage of accounts receivable — trade:
|  | March 31, 2024 |  |  | March 31, 2023 |
Customer A |  |  | 35 | % |  |  | 33 | %
Customer B |  |  | 25 | % |  |  | 18 | %
Customer C |  |  | 13 | % |  |  | 21 | %
Customer D |  |  | 6 | % |  |  | 12 | %
Geographic and Product Information The Company’s products are predominantly sold in the U.S. and accounted for the following total percentage of net sales:
|  | Years Ended March 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Rotating electrical products |  |  | 66 | % |  |  | 67 | % |  |  | 69 | %
Brake-related products |  |  | 20 | % |  |  | 18 | % |  |  | 15 | %
Wheel hub products |  |  | 10 | % |  |  | 11 | % |  |  | 13 | %
Other products |  |  | 4 | % |  |  | 4 | % |  |  | 3 | %
|  |  | 100 | % |  |  | 100 | % |  |  | 100 | %
Significant Supplier Concentrations No suppliers accounted for more than 10% of the Company’s inventory purchases for the years ended March 31, 2024, 2023, and 2022.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 275 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//275/tableOfContent + Details
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