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PROPERTY, PLANT AND EQUIPMENT
 6 Months Ended
Sep. 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

September 30, 2021

($)

    

As of

March 31, 2021

($)

  

Land

  

N/A

      

4,539

      

4,606

  

Buildings & facilities

  

25

      

3,817

      

3,817

  

Plant and machinery

  

5-20

      

4,563

      

4,579

  

Computer equipment

  

3

      

239

      

216

  

Office equipment

  

3-5

      

143

      

111

  

Furniture and fixtures

  

5

      

132

      

130

  

Vehicles

  

5

      

164

      

165

  

Construction in progress

  

N/A

      

108

      

50

  

Total gross value

          

13,706

      

13,674

  

Less: Accumulated depreciation

          

(3,117)

      

(2,834

)

Total property, plant and equipment, net

          

10,589

      

10,840

  

 

The depreciation expense in the three months ended September 30, 2021, and 2020, amounted to approximately $157 thousand and $104 thousand, respectively. The depreciation expense in the six months ended September 30, 2021, and 2020, amounted to approximately $309 thousand and $178 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.