PROPERTY, PLANT AND EQUIPMENT

3 Months Ended

Jun. 30, 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 June 30, 2023 ($)			As of March 31, 2023 ($)
Land	N/A		4,104			4,100
Buildings and facilities	25		2,303			2,298
Plant and machinery	5-20		3,340			3,335
Computer equipment	3		143			138
Office equipment	3-5		88			84
Furniture and fixtures	5		92			92
Vehicles	5		102			102
Total gross value			10,172			10,149
Less: Accumulated depreciation			(2,068	)		(1,936	)
Total property, plant, and equipment, net			8,104			8,213

The depreciation expense in the three months ended June 30, 2023, and 2022 amounted to approximately $137 thousand and $152 thousand, respectively. The net decrease in Total property, plant, and equipment is primarily due to depreciation. The Company sold a fully depreciated property in India for net proceeds of approximately $43 thousand and accounted for a profit of approximately $43 thousand in other income. 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.