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PROPERTY, PLANT AND EQUIPMENT
 3 Months Ended
Jun. 30, 2022
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, 2022

($)

    

As of

March 31, 2022

($)

  

Land

   N/A       4,266       4,438  

Buildings and facilities

   25       2,966       2,810  

Plant and machinery

   5-20       4,351       4,594  

Computer equipment

   3       241       241  

Office equipment

   3-5       184       145  

Furniture and fixtures

   5       142       141  

Vehicles

   5       161       163  

Construction in progress

   N/A       -       108  

Total gross value

           12,311       12,639  

Less: Accumulated depreciation

           (3,150 )     (3,220 )

Total property, plant, and equipment, net

           9,161       9,419  

 

The depreciation expense in the three months ended June 30, 2022, and 2021, amounted to approximately $152 thousand for each of the periods. The net decrease in total Property, Plant and Equipment is primarily due to depreciation and foreign exchange translations of a decrease in value of foreign currencies. As of June 30, 2022, the construction in progress related to the Maryland office extension is completed and moved to Building and facilities. 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.