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Property, Plant, and Equipment, Net
 3 Months Ended
Jun. 30, 2024
Property, Plant, and Equipment, Net [Abstract]  
PROPERTY, PLANT, AND EQUIPMENT, NET

NOTE 8 – PROPERTY, PLANT, AND EQUIPMENT, NET

 

Property, plant, and equipment, net consisted of the following:

 

   As of
June 30,
24
(Unaudited)		   As of
March 31,
2024		 
Land  $2,200,334   $2,200,334 
Property and buildings   10,540,962    10,540,962 
Equipment and machinery   12,723,216    12,529,813 
Office and electric equipment   1,055,641    1,086,203 
Automobiles   1,333,769    1,333,823 
Leasehold improvements   4,388,894    4,380,202 
Subtotal   32,242,816    32,071,337 
Construction in progress (1)   9,565,928    9,550,778 
Less: Accumulated depreciation and amortization   (17,234,818)   (16,624,019)
Property, plant and equipment, net  $24,573,926   $24,998,096 

 

(1) In April 2022, the Company commenced a construction project to build a dormitory for employees. The construction is built on a land of 4,516 square meters (approximately 48,608 square feet) in Al Tajamouat Industrial City, Jordan, which was acquired by the Company in 2020. Through June 30, 2024, the Company had spent approximately JOD 6.6 million (approximately $9.3 million) for the dormitory construction. Dormitory’s kitchen is under construction at an estimated cost of JOD 650,000 (approximately $920,000), and approximately JOD 237,000 (approximately $335,000) has been spent. The dormitory is expected to be fully completed in second quarter of fiscal year 2025.

 

For the three months ended June 30, 2024 and 2023, depreciation and amortization expenses were $612,759 and $608,776, respectively.