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LEASES | 12 Months Ended
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Mar. 31, 2024
LEASES |
LEASES | NOTE 14 – LEASES On August 25, 2021, Stadco became party to an amended building and property operating lease and recorded a right of use asset and liability of $6.6 million. Monthly base rent for the property is $82,998 per month. The term of the lease will expire on June 30, 2030, and the lessee has no right of renewal beyond the expiration date. The lease contains customary default provisions allowing the landlord to terminate the lease if the lessee fails to remedy a breach of its obligations under the lease within the period specified in the lease, or upon certain events of bankruptcy or seizure or attachment of the lessee’s assets or interest in the lease. The lease also contains other customary provisions for real property leases of this type. The following table lists our right-of-use assets and liabilities on our consolidated balance sheets at: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, 2024 |  | March 31, 2023
Finance lease: |  | ​ | ​ | ​ | ​ |
Right of use asset – operating lease | ​ | $ | 6,629,396 | ​ | $ | 6,629,396
Right of use asset – finance leases | ​ | ​ | 65,016 | ​ |  | 65,016
Amortization | ​ | ​ | (1,716,747) | ​ | ​ | (1,033,474)
Right of use asset, net | ​ | $ | 4,977,665 | ​ | $ | 5,660,938
Lease liability – operating lease | ​ | $ | 5,124,823 | ​ | $ | 5,819,365
Lease liability – finance leases | ​ | ​ | 19,151 | ​ | ​ | 36,336
Total lease liability | ​ | $ | 5,143,974 | ​ | $ | 5,855,701
​ Other supplemental information regarding our leases is contained in the following tables: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Components of lease expense for the year ended: |  | March 31, 2024 |  | March 31, 2023
Operating lease amortization | ​ | $ | 668,058 | ​ | $ | 638,732
Finance lease amortization | ​ | $ | 15,215 | ​ | $ | 20,829
Finance lease interest | ​ | $ | 834 | ​ | $ | 1,536
​
​ | ​ | ​ | ​ | ​ | ​
Weighted average lease term and discount rate at: |  | March 31, 2024 |  | March 31, 2023 |
Lease term (years) – operating lease |  | 6.25 | ​ | 7.25 | ​
Lease term (years) – finance lease | ​ | 2.00 | ​ | 0.75 | ​
Lease rate – operating lease | ​ | 4.5 | % | 4.5 | %
Lease rate – finance lease |  | 3.2 | % | 4.5 | %
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Supplemental cash flow information related to leases for the year ended: |  | March 31, 2024 |  | March 31, 2023
Cash used in operating activities | ​ | $ | 938,801 | ​ | $ | 851,806
Cash used in financing activities | ​ | $ | 17,185 | ​ | $ | 36,572
​ Maturities of lease liabilities at March 31, 2024 for the next five years and thereafter: ​
​ | ​ | ​ | ​
2025 |  | $ | 948,701
2026 | ​ |  | 948,701
2027 | ​ |  | 938,801
2028 | ​ |  | 938,801
2029 | ​ |  | 938,801
Thereafter | ​ |  | 1,095,270
Total lease payments | ​ | $ | 5,809,075
Less: imputed interest | ​ |  | 665,101
Total | ​ | $ | 5,143,974
​

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References No definition available. + Details
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Namespace Prefix: | tpcs_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration