Significant Customer and Other Information

12 Months Ended

Mar. 31, 2023

Significant Customer and Other Information [Abstract]

Significant Customer and Other Information

15. Significant Customer and Other Information

Significant Customer Concentrations

While the Company continually seeks to diversify its customer base, it currently derives, and has historically derived, a substantial portion of its sales from a small number of large customers. Any meaningful reduction in the level of sales to any of these customers, deterioration of the financial condition of any of these customers or the loss of any of these customers could have a materially adverse impact on our business, results of operations, and financial condition. The Company’s largest customers accounted for the following total percentage of net sales:

	Years Ended March 31,
	2023			2022			2021
Customer A		37	%		38	%		42	%
Customer B		23	%		18	%		22	%
Customer C		24	%		29	%		23	%
Customer D		4	%		2	%		2	%

Revenues for Customers A through C were derived from the Hard Parts segment and Test Solutions and Diagnostic Equipment segment. Revenues for Customer D were derived from the Hard Parts segment.

The Company’s largest customers accounted for the following total percentage of accounts receivable — trade:

	March 31, 2023			March 31, 2022
Customer A		33	%		42	%
Customer B		18	%		21	%
Customer C		21	%		9	%
Customer D		12	%		5	%

Geographic and Product Information

The Company’s products are predominantly sold in the U.S. and accounted for the following total percentage of net sales:

	Years Ended March 31,
	2023			2022			2021
Rotating electrical products		67	%		69	%		73	%
Wheel hub products		11	%		13	%		15	%
Brake-related products		18	%		15	%		10	%
Other products		4	%		3	%		2	%
		100	%		100	%		100	%

Significant Supplier Concentrations

No suppliers accounted for more than 10% of the Company’s inventory purchases for the years ended March 31, 2023, 2022, and 2021.