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PROPERTY, PLANT AND EQUIPMENT
 3 Months Ended
Jun. 30, 2021
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]

NOTE 6 – PROPERTY, PLANT AND EQUIPMENT

 

   

(in thousands, except useful life)

  
   

Useful Life (years)

    

As of

June 30, 2021

($)

    

As of

March 31, 2021

($)

  

Land

   N/A       4,530       4,606  

Buildings & facilities

   25       3,817       3,817  

Plant and machinery

   5-20       4,555       4,579  

Computer equipment

   3       224       216  

Office equipment

   3-5       130       111  

Furniture and fixtures

   5       132       130  

Vehicles

   5       164       165  

Construction in progress

   N/A       108       50  

Total gross value

           13,660       13,674  

Less: Accumulated depreciation

           (2,956 )     (2,834

)

Total property, plant and equipment, net

           10,704       10,840  

 

The depreciation expense in the three months ended June 30, 2021, and 2020, amounted to approximately $152 thousand and $74 thousand, respectively. The net decrease in total Property, Plant & Equipment is primarily due to depreciation and foreign exchange translations. The net decrease in land is primarily due to foreign exchange translations because of a decline in value of foreign currencies. The construction in progress relates to the Maryland facility extension . For more information, please refer to Note 16 – Segment Information for the non-current assets other than financial instruments held in the country of domicile and foreign countries.