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PROPERTY, PLANT, AND EQUIPMENT | 6 Months Ended
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Sep. 30, 2024
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, 2024 ($) |  |  | As of March 31, 2024 ($) |
Buildings and facilities |  | 25 |  |  |  | 2,307 |  |  |  | 2,303 |
Plant and machinery |  | 5-20 |  |  |  | 3,240 |  |  |  | 3,334 |
Computer equipment |  | 3 |  |  |  | 178 |  |  |  | 166 |
Office equipment |  | 3-5 |  |  |  | 135 |  |  |  | 140 |
Furniture and fixtures |  | 5 |  |  |  | 99 |  |  |  | 93 |
Vehicles |  | 5 |  |  |  | 101 |  |  |  | 101 |
Total gross value |  |  |  |  |  | 6,060 |  |  |  | 6,137 |
Less: Accumulated depreciation |  |  |  |  |  | (2,592 | ) |  |  | (2,442 | )
Total property, plant, and equipment, net |  |  |  |  |  | 3,468 |  |  |  | 3,695 |
The depreciation expense in the three months ended September 30, 2024, and 2023 amounted to approximately $145 thousand and $140 thousand, respectively. The depreciation expense in the six months ended September 30, 2024, and 2023 amounted to approximately $287 thousand and $277 thousand, respectively. The net decrease in Total property, plant, and equipment is primarily due to depreciation. In addition, during the six months ended, September 30, 2024, the Company received approximately $562 thousand as advance for the land. 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. Asset Held For Sale During Fiscal 2024, the Company focused on liquidating all non-operating assets to reduce costs and generate cash. As a result, the Company impaired the land situated in Nagpur, India, by approximately $3.3 million to $720 thousand from $4.1 million to bring it closer to the fair market value. The Company believes it can sell the above-said non-operating land as it is without any improvement. Selling this land will give immediate cash, which the Company can use in its operating segments. During the quarter ended September 30, 2024, the Company entered into an agreement with the buyer to sell the said land for a net realizable value of approximately $716 thousand. The agreement is subject to the final registration and execution. The Company received net approximately $383 thousand as a deposit. As of September 30, 2024, the Company holds the ownership and possession of the said land.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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