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PROPERTY, PLANT AND EQUIPMENT | 12 Months Ended
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Mar. 31, 2023
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 March 31, 2023 ($) |  |  | As of March 31, 2022 ($) |
Land |  | N/A |  |  |  | 4,100 |  |  |  | 4,438 |
Buildings and facilities |  | 25 |  |  |  | 2,298 |  |  |  | 2,810 |
Plant and machinery |  | 5-20 |  |  |  | 3,335 |  |  |  | 4,593 |
Computer equipment’s |  | 3 |  |  |  | 138 |  |  |  | 241 |
Office equipment’s |  | 3-5 |  |  |  | 84 |  |  |  | 145 |
Furniture and fixtures |  | 5 |  |  |  | 92 |  |  |  | 141 |
Vehicles |  | 5 |  |  |  | 102 |  |  |  | 163 |
Construction in progress |  | N/A |  |  |  | - |  |  |  | 108 |
Total gross value |  |  |  |  |  | 10,149 |  |  |  | 12,639 |
Less: Accumulated depreciation |  |  |  |  |  | (1,936 | ) |  |  | (3,220 | )
Total property, plant and equipment, net |  |  |  |  |  | 8,213 |  |  |  | 9,419 |
The depreciation expense in Fiscal 2023 and 2022 amounted to approximately $600 thousand and $627 thousand, respectively. The net decrease in total property, plant, and equipment (net) is primarily due to depreciation and foreign exchange translations because of a decrease in value of foreign currencies. In addition, Fiscal 2023, the Company disposed of fully depreciated assets in the amount of approximately $1.6 million from its subsidiaries. This resulted in a reduction in the value of total gross assets but did not affect the net value of assets as the disposed assets had previously been fully depreciated. The Company sold a property in Puerto Rico for net proceeds of approximately $485 thousand (acquired for approximately $480 thousand) and accounted for a profit of approximately $5 thousand in other income. 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.

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