PROPERTY, PLANT AND EQUIPMENT, NET

9 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

NOTE 6 – PROPERTY, PLANT AND EQUIPMENT, NET

	(in thousands, except useful life)
	Useful Life (years)	As of December 31, 2020 ($)			As of March 31, 2020 ($)
Land	N/A		4,615			4,508
Buildings & facilities	25		3,871			2,540
Plant and machinery	5-20		4,552			3,867
Computer equipment	3		211			194
Office equipment	3-5		111			106
Furniture and fixtures	5		130			104
Vehicles	5		121			120
Construction in progress	N/A		49			768
Total Gross Value			13,660			12,207
Less: Accumulated depreciation			(2,692	)		(2,427	)
Total Property, plant and equipment, net			10,968			9,780

The depreciation expense in the three months ended December 31, 2020 and 2019, amounted to approximately $124 thousand and 22 thousand, respectively, whereas depreciation expense in the nine months ended December 31, 2020 and 2019, amounted to approximately $302 thousand and $63 thousand, respectively. The net increase in total Property, Plant & Equipment is primarily due to the set-up of product manufacturing, processing, and packaging facilities, in the U.S. subsidiaries. The net increase in land and accumulated depreciation is primarily due to foreign exchange translations because of a decline in value of foreign currencies. The construction in progress relates to the Washington facility under construction. For more information, please refer to Note 18 – Segment Information for the non-current assets other than financial instruments held in the country of domicile and foreign countries.