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PROPERTY, PLANT AND EQUIPMENT

9 Months Ended

Dec. 31, 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 December 31, 2021 ($)				As of March 31, 2021 ($)
Land		N/A				4,602				4,606
Buildings & facilities		25				3,791				3,817
Plant and machinery		5-20				4,636				4,579
Computer equipment		3				229				216
Office equipment		3-5				156				111
Furniture and fixtures		5				133				130
Vehicles		5				165				165
Construction in progress		N/A				108				50
Total gross value						13,820				13,674
Less: Accumulated depreciation						(3,300	)			(2,834	)
Total property, plant, and equipment, net						10,520				10,840

The depreciation expense in the three months ended December 31, 2021, and 2020, amounted to approximately $117 thousand and $124 thousand, respectively. The depreciation expense in the nine months ended December 31, 2021, and 2020, amounted to approximately $427 thousand and $302 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 the value of foreign currencies. The construction in progress relates to the Maryland office 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.