India Globalization Capital (IGC) 10-Q 20 Feb 18 2018 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Dec. 31, 2017	Jan. 31, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	India Globalization Capital, Inc.
Document Type	10-Q
Current Fiscal Year End Date	--03-31
Entity Common Stock, Shares Outstanding		30,282,053
Amendment Flag	false
Entity Central Index Key	1,326,205
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2017	Mar. 31, 2017
Current assets:
Cash and cash equivalents	$ 1,690,792	$ 538,029
Accounts receivable, net of allowances	1,155,229	752,926
Prepaid expenses and other current assets	379,785	410,408
Short-term investments	0	1,880,000
Total current assets	3,225,806	3,581,363
Goodwill	198,169	198,169
Intangible assets	124,272	0
Property, plant and equipment, net	951,351	953,936
Investment	6,015,634	6,011,114
Other non-current assets	820,913	539,720
Total long-term assets	8,110,339	7,702,939
Total assets	11,336,145	11,284,302
Current liabilities:
Trade payables	674,882	416,532
Accrued expenses	175,200	181,465
Other current liabilities	474,101	691,714
Total current liabilities	1,324,183	1,289,711
Long-term borrowings	0	452,080
Loans- others	737,097	392,226
Notes payable	1,800,000	1,800,000
Total non-current liabilities	2,537,097	2,644,306
Total liabilities	3,861,280	3,934,017
Stockholders’ equity:
Common stock — $.0001 par value; 150,000,000 shares authorized; 28,272,667 issued and outstanding as of March 31, 2017 and 29,499,790 issued and outstanding as of December 31, 2017.	2,950	2,827
Additional paid-in capital	62,737,631	61,413,533
Accumulated other comprehensive income	(2,037,529)	(2,047,780)
Retained earnings/(deficit)	(53,219,180)	(52,009,459)
Total equity attributable to Parent	7,483,872	7,359,121
Non-controlling interest	(9,007)	(8,836)
Total stockholders’ equity	7,474,865	7,350,285
Total liabilities and stockholders’ equity	$ 11,336,145	$ 11,284,302

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Dec. 31, 2017	Mar. 31, 2017
Common stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	29,499,790	28,272,667
Common stock, shares outstanding	29,499,790	28,272,667

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Revenues	$ 762,009	$ 249,801	$ 1,050,582	$ 487,364
Cost of revenues (excluding depreciation)	(723,062)	(121,829)	(893,113)	(276,418)
Selling, general and administrative expenses	(507,332)	(322,891)	(1,217,293)	(959,693)
Depreciation	(4,989)	(196,103)	(15,297)	(391,617)
Loss on investments/associates /joint ventures	0	4,910	0	(178,925)
Operating income /(loss)	(473,374)	(386,112)	(1,075,121)	(1,319,289)
Interest expense	(60,527)	(46,465)	(145,905)	(136,421)
Interest income & other income (net)	1,090	359,104	9,401	372,957
Income before income taxes and minority interest attributable to non-controlling interest	(532,811)	(73,473)	(1,211,625)	(1,082,753)
Net income/(loss)	(532,811)	(73,473)	(1,211,625)	(1,082,753)
Non-controlling interests in earnings of subsidiaries	(230)	38,088	(634)	26,848
Net income/(loss) attributable to common stockholders	$ (532,581)	$ (111,561)	$ (1,210,991)	$ (1,109,601)
Earnings/(loss) per share attributable to common stockholders:
Basic (in Dollars per share)	$ (0.02)	$ 0	$ (0.04)	$ (0.04)
Diluted (in Dollars per share)	$ (0.02)	$ 0	$ (0.04)	$ (0.04)
Weighted-average number of common shares used in computing earnings per share amounts:
Basic (in Shares)	28,169,292	27,446,095	27,126,208	27,446,095
Diluted (in Shares)	28,169,292	27,446,095	27,126,208	27,446,095

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Net income/(loss)	$ (532,581)	$ (111,561)	$ (1,210,991)	$ (1,109,601)
Parent [Member]
Net income/(loss)	(532,581)	(111,561)	(1,210,991)	(1,109,601)
Foreign currency translation adjustments	21,174	180,000	10,252	128,150
Comprehensive income/(loss)	(511,407)	68,439	(1,200,739)	(981,451)
Noncontrolling Interest [Member]
Net income/(loss)	(230)	38,088	(634)	26,848
Foreign currency translation adjustments	0	0	0	0
Comprehensive income/(loss)	(230)	38,088	(634)	26,848
Comprehensive Income [Member]
Net income/(loss)	(532,811)	(73,473)	(1,211,625)	(1,082,753)
Foreign currency translation adjustments	21,174	180,000	10,252	128,150
Comprehensive income/(loss)	$ (511,637)	$ 106,527	$ (1,201,373)	$ (954,603)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net income (loss)	$ (1,211,625)	$ (1,082,753)
Adjustment to reconcile net income/(loss) to net cash:
Depreciation	15,297	391,617
Bad debts written off/creditors restated	24	0
Loss from Investments /joint venture /associates	0	178,925
Non-cash interest expenses	115,500	104,015
Stock base compensation and expense	426,111	0
Changes in:
Accounts receivable	(401,811)	299,848
Other current assets	48,695	78,348
Trade payables	258,350	48,719
Other current liabilities	(223,877)	(501,787)
Net cash provided/(used) in operating activities	(973,336)	(483,068)
Cash flow from investing activities:
Purchase/addition of property, plant and equipment	(11,224)	(128,765)
Proceeds from short term investment	(4,106)	(27,502)
Deposit towards acquisition (net of cash acquired)	0	(114,427)
Non-current assets	(286,167)	0
Net cash provided/(used) by investing activities	(301,497)	(270,694)
Cash flows from financing activities:
Proceeds from share issue	2,636,478	438,165
Net movement in short-term borrowing	0	(27,762)
Proceeds /(repayment) from long-term borrowing	(452,080)	(910,583)
Proceeds from loans	344,871	379,170
Expense for raising funds & issuance of stock	(111,253)	0
Net cash provided/(used) by financing activities	2,418,016	(121,010)
Effects of exchange rate changes on cash and cash equivalents	9,580	128,134
Net increase/(decrease) in cash and cash equivalents	1,152,763	(746,638)
Cash and cash equivalent at the beginning of the period	538,029	1,490,693
Cash and cash equivalent at the end of the period	1,690,792	744,055
Supplementary information:
Cash paid for interest	30,405	32,406
Non-cash items:
Common stock issued for interest payment on notes payable	115,500	104,015
Common stock issued including ESOP, consultancy and other	$ 465,158	$ 0

NOTE 1 - BUSINESS DESCRIPTION A

NOTE 1 - BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Dec. 31, 2017
Disclosure Text Block [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE 1 – BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES a) India Globalization Capital, Inc. (“IGC” or the “Company”), was incorporated in April 2005 under the laws of the state of Maryland, and through its subsidiaries in the USA, India, Hong Kong and Malaysia, is engaged in two major business segments - with a pipeline of products, including lead candidate, Hyalolex, designed to improve the lives of patients battling Alzheimer’s disease, Parkinson’s disease, chronic pain, post-traumatic stress disorder, and eating disorders and a long-term focus on developing blockchain technologies to solve critical issues facing the Cannabis industry. b) IGC closed its Hong Kong based direct subsidiary IGC Clean Tech, and our India based subsidiary Techni Bharathi Private Limited (“TBL”), in the quarter ended December 31, 2017, beneficially incorporated as its Hong Kong based subsidiary IGC Enterprise that is involved in trading. TBL paid a premium of $745 for the 100% beneficial ownership. c) Basis of presentation and use of estimates The Company has prepared the accompanying unaudited Condensed Consolidated Financial Statements (“Financial Statements”) in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by United States generally accepted accounting principles (“GAAP”) for complete financial statements. In preparing the financial statements management is required to make estimates and assumptions that could affect the amounts reported in these condensed consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. The results for interim periods do not necessarily indicate the results that may be expected for any other interim period or for the full year. The significant accounting policies adopted by the Company, in respect of these consolidated financial statements, are set out in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2017. Therefore, the Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and respective notes contained in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2017 filed with the SEC on July 14, 2017. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation have been included in the Financial Statements. The consolidated financial statements include the accounts of the Company and all its subsidiaries that are more than 50% owned and controlled. The Company consolidates the subsidiaries into its consolidated financial statements. Transactions between the Company and its subsidiaries have been eliminated in the consolidated financial statements. d) Presentation of functional currencies In the quarter ended December 31, 2017, in addition to the US, IGC operates in India, Hong Kong and Malaysia and a substantial portion of the Company’s sales are denominated in USD, INR, and RM. As a result, changes in the relative values of the U.S. dollar and INR or the RM affect revenues and profits as the results are translated into U.S. dollars in the consolidated and pro forma financial statements. The accompanying financial statements are reported in U.S. dollars. The INR and the RM are the functional currencies for the Company. The translation of the functional currencies into U.S. dollars is performed for assets and liabilities using the exchange rates in effect at the balance sheet date and for revenues, costs and expenses using average exchange rates prevailing during the reporting periods. Adjustments resulting from the translation of functional currency financial statements to reporting currency are accumulated and reported as other comprehensive income/(loss), a separate component of shareholders’ equity. e) Consolidation The Company’s current fiscal year ends on March 31, 2018. Unless the context requires otherwise, all references in this report to “IGC,” “we,” “our” and “us” refer to India Globalization Capital, Inc., together with its subsidiaries, as listed and described in its Annual Report on Form 10-K filed with the SEC on July 14, 2017. We exclude our investments and minority non-controlling interests, and any information provided by them is not incorporated by reference in this report, and you should not consider it a part of this report. Our filings are available on www.sec.gov. The information contained on our website, www.igcinc.us, is not incorporated by reference in this report, and you should not consider it a part of this report.

NOTE 3 - ACCOUNTS RECEIVABLE

NOTE 3 - ACCOUNTS RECEIVABLE	9 Months Ended
	Dec. 31, 2017
Receivables [Abstract]
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	NOTE 3 – ACCOUNTS RECEIVABLE Accounts receivable, net of allowances, amounted to $1,155,229 and $752,926 as of December 31, 2017 and March 31, 2017, respectively. The accounts receivable net of reserves for the quarter ended December 31, 2017 come primarily from construction management, rental of heavy construction equipment and trading in commodities.

NOTE 4 - OTHER CURRENT AND NON-

NOTE 4 - OTHER CURRENT AND NON-CURRENT ASSETS	9 Months Ended
	Dec. 31, 2017
Disclosure Text Block Supplement [Abstract]
Other Assets Disclosure [Text Block]	NOTE 4 – OTHER CURRENT AND NON-CURRENT ASSETS Prepaid expenses and other current assets consist of the following: As of December 31, 2017 As of March 31, 2017 Prepaid /preliminary expenses $ - $ 6,750 Advance to suppliers, others & services 355,490 352,850 Security/statutory advances 17,320 14,216 Prepaid and accrued interest 1,459 1,436 Deposit and other current assets 5,516 35,156 Total $ 379,785 $ 410,408 Other non-current assets consist of the following: As of December 31, 2017 As of March 31, 2017 Statutory/Other advances $ 521,631 $ 539,720 Product formulation 299,282 - Total $ 820,913 $ 539,720 On May 21, 2012, TBL entered into an agreement with Weave & Weave for the purchase of land. TBL gave Weave and Wave an advance of $383,832. As of the date of this filing, the parties are in the process of negotiating a settlement that includes the purchase and sale of land as well as the refund of the advance given by TBL. Product Formulation is the capitalized part of expenses related to the formulation of products. The products including, Hyalolex, our lead product for patients suffering from Alzheimer’s are all non-FDA approved products. These products do not require FDA approval for sale in dispensaries.

NOTE 5 - INTANGIBLE ASSETS AND

NOTE 5 - INTANGIBLE ASSETS AND GOODWILL	9 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	NOTE 5 – INTANGIBLE ASSETS AND GOODWILL The movement in intangible assets and goodwill is given below. As of December 31, 2017 As of March 31, 2017 Intangible assets at the beginning of the period $ - $ 113,321 Amortization - (113,321 ) Patent filings and rights 124,272 - Total Intangible assets $ 124,272 $ - Goodwill of Cabaran Ultima Sdn Bhd 198,169 198,169 Total Goodwill $ 198,169 198,169 The value of goodwill for the two periods shown is $198,169 and is associated with the acquisition of Cabaran Ultima. The capitalized patent expenses are direct expenses, legal, filing fees etc., associated with filing patents in North America, Europe and Canada.

NOTE 6 - PROPERTY, PLANT AND EQ

NOTE 6 - PROPERTY, PLANT AND EQUIPMENT	9 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	NOTE 6 – PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following: Category Useful Life (years) As of December 31, 2017 As of March 31, 2017 Building (flat) 25 $ 245,035 $ 241,181 Plant and machinery 20 1,737,381 1,710,055 Computer equipment 3 160,643 157,349 Office equipment 5 121,372 119,528 Furniture and fixtures 5 72,167 70,368 Vehicles 5 296,288 292,764 Assets under construction N/A 969,573 957,880 Total $ 3,602,459 $ 3,549,125 Less: Accumulated depreciation $ (2,651,108 ) $ (2,595,189 ) Net Assets $ 951,351 $ 953,936 Depreciation expense for the nine months ended December 31, 2017 and 2016 was $15,297 and $391,617 respectively. Capital work-in-progress represents the cost of property and equipment not put to use before the balance sheet date.

NOTE 7 - INVESTMENTS - OTHERS

NOTE 7 - INVESTMENTS - OTHERS	9 Months Ended
	Dec. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments and Joint Ventures Disclosure [Text Block]	NOTE 7 – INVESTMENTS – OTHERS Investments - others for each of the periods ended December 30, 2017 and March 31, 2017, consisted of the following: As of December 31, 2017 As of March 31, 2017 Investment in equity shares of unlisted company & associates $ 67,912 $ 63,392 Investment in affiliate 773,111 773,111 Investment in land 5,174,611 5,174,611 Total $ 6,015,634 $ 6,011,114 Pursuant to the December 18, 2014 Purchase Agreement with Apogee, we issued 1,200,000 common shares of IGC valued at $888,000 for the purchase of 24.9% ownership interest in Midtown Partners & Co., LLC. The Purchase Agreement expired on June 30, 2015, and the Company is pursuing its rights under the terms of the Purchase Agreement to recover certain damages. Value of investment in our books is $773,111 as on December 31, 2017.

NOTE 9 - OTHER CURRENT AND NON-

NOTE 9 - OTHER CURRENT AND NON-CURRENT LIABILITIES	9 Months Ended
	Dec. 31, 2017
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]
Other Liabilities Disclosure [Text Block]	NOTE 9 – OTHER CURRENT AND NON-CURRENT LIABILITIES Other current liabilities consist of the following: As of December 31, 2017 As of March 31, 2017 Statutory payables $ 16,344 $ 15,203 Employee related liabilities 457,757 676,511 Total $ 474,101 $ 691,714 For the quarter ended December 31, 2017, there were no other non-current liabilities.

NOTE 10 - RELATED PARTY TRANSAC

NOTE 10 - RELATED PARTY TRANSACTIONS	9 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	NOTE 10 – RELATED PARTY TRANSACTIONS As of December 31, 2017, the Company has (i) a balance of $98,185 due and payable to our CEO inclusive of certain unpaid salaries from previous years and (ii) a secured loan at zero interest from spouse of our CEO in the amount of $244,412. We pay an affiliate of our CEO $4,500 per month for office space and certain general and administrative services rendered in Maryland. In addition, we pay another affiliate of our CEO $6,100 per month for office and facilities in Washington State. We believe, based on rents and fees for similar services in the Washington, D.C. metropolitan area, and Washington State that the fee charged by the affiliates are at least as favorable as we could have obtained from an unaffiliated third party and these payments are not considered, or meant to be compensation to our CEO. The rental agreement for the Maryland location is on a month-to-month basis and may be terminated by our Board of Directors of the Company at any time without notice. The rental agreement for Washington State facilities expired on December 31, 2017, and it was renewed in January 2018 by mutual consent for 1 more year. During the quarter ended December 31, 2017, the total rent paid to one of the affiliates for the office space (and services) in Maryland was $13,500. $36,600 is payable to one of the affiliates for the rental of the facilities in Washington State. For December 31, 2017 there was no loan balance due to the Director of Cabaran. Loans by Related Parties: We have a secured working capital loan that has a loan balance of $195,061 as of December 31, 2017 and $97,500 as of March 31, 2017 from affiliates of our CEO, at an annual interest rate of zero percent, due February 23, 2022. There is no prepayment penalty. The assets of the Company secure the loan. Loans to Related Parties: On April 30, 2015, FYE 2016, we loaned Apogee Financial Services, the majority owner of Midtown Partners, $70,000 as working capital for Midtown partners. The loan is outstanding as of December 31, 2017.

NOTE 11 - NOTES PAYABLE AND LOA

NOTE 11 - NOTES PAYABLE AND LOANS – OTHERS	9 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	NOTE 11 – NOTES PAYABLE AND LOANS – OTHERS The Company has an unsecured Note Payable to Bricoleur Partners, L.P. in the amount of $1,800,000 (“2012 Security”). Up to July 2014, the Company was making monthly payments of 17,100 shares of common stock. Starting on August 2014, the Company started making a monthly payment of 23,489 shares of common stock. Starting August 1, 2016, the Company started making a monthly payment of 30,000 shares. The Company has never made a cash interest payment to Bricoleur on the Note. The parties have agreed that the Company will make a payment (shown on our P&L under interest payment and not tax deductible to the Company) of 30,000 shares of common stock for each month the loan remains unpaid, regardless of the trading price of the stock. The arrangement allows the Company and Bricoleur to pursue permanent conversion of the principal to common stock, or repayment of the principal using common stock. At the 2017 annual meeting of the shareholders the Company asked the shareholders to vote on allowing the Company to deliver up to an additional 2 million shares of our common stock as repayment of principal. The vote on the amendment remains outstanding. During the quarter ended December 31, 2017, the Company issued a total of 90,000 shares valued at $48,000 to this debt holder, which constitutes non-tax-deductible payments for the Company. As of December 31, 2017, the Company has seven loans categorized as Loans Others totaling $737,097 at an average annual interest rate of 10%, as follows: Loan 1: We have a loan for $62,726, due on April 25, 2018 bearing 10% annual interest rate. This loan is from one of our Advisors and former director. There is no prepayment penalty. Loan 2: We have a secured loan from an individual for $100,000, at an annual interest rate of 24%, due February 23, 2022. There is no prepayment penalty. The assets of the Company secure the loan. Loan 3: We have a secured loan from an individual for $50,000, at an annual interest rate of 15%, due February 23, 2022. There is no prepayment penalty. The assets of the Company secure the loan. Loan 4: We have a secured loan of $75,000 from an affiliate of our CEO, at an annual interest rate of 15%, due February 23, 2022. There is no prepayment penalty. The assets of the Company secure the loan. Loan 5: We have a secured loan that has a balance as of December 31, 2017 of $195,061 from an affiliate of our CEO, at an annual interest rate of zero percent, due February 23, 2022. There is no prepayment penalty. The assets of the Company secure the loan. Loan 6: Secured loan from the spouse of our CEO, in the amount of $244,411. There is no prepayment penalty. The assets of the Company secure the loan. Loan 7: We have a working capital loan that has a loan balance as of December 31, 2017 of $9,899 from a relative of our CEO, at an annual interest rate of zero percent.

NOTE 12 - COMMITMENTS AND CONTI

NOTE 12 - COMMITMENTS AND CONTINGENCY	9 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	NOTE 12 – COMMITMENTS AND CONTINGENCY No significant contingencies or commitments were made or existed during the three months ended December 31, 2017.

NOTE 13 - COMMON STOCK

NOTE 13 - COMMON STOCK	9 Months Ended
	Dec. 31, 2017
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	NOTE 13 – COMMON STOCK Our common stock trades on the NYSE AMERICAN under the symbol “IGC” with CUSIP number 45408X308, $0.0001 par value (“Common Stock”). This security is also available for trading on the Borse Frankfurt, Stuttgart, and Berlin Exchanges (ticker symbol: IGS1). The Common stock of the Company is also available for trading on the Borse Frankfurt, Borse Berlin, and Borse Stuttgart (XETRA2) exchanges in Germany. The Warrants and Units now trade on the OTC Markets. We have redeemable Warrants (CUSIP number 45408X118 expiring on March 6, 2019) to purchase Common Stock (ticker symbol: IGC.WT) and Units consisting of one share of Common Stock and two redeemable warrants to purchase Common Stock that are not listed. The Unit holders are requested to contact the Company to get their existing Units separated into Common Stock and Warrants. As on December 31, 2017, there are 11,656,668 outstanding public warrants to purchase 1,165, 667 shares of our common stock at an exercise price of $50.00 a share, expiring on March 6, 2019 and 831,768 private warrants to buy 83,176 shares of common stock at an exercise price of $9.0 that expired on December 8, 2017. During the quarter ended December 31, 2017, the Company issued 90,000 penalty shares valued at $48,000 to Bricoleur Partners, L.P. for the outstanding $1,800,000 promissory note (“2012 Security”). On May 20, 2016, IGC entered into an At-The-Market Agency Agreement (“ATM Agreement”) with IFS Securities, Inc. (dba Brinson Patrick, a division of IFS Securities, Inc.), as sales agent (“Brinson Patrick” or the “Agent”). Under this ATM agreement in the December quarter, 23,201 shares of IGC Common Stock, valued at $8,018, settled. This ATM agreement was terminated on September 30, 2017. The Company entered into a new ATM agreement with The Benchmark Company and Joseph Gunnar as sales agents. During the quarter ended December 31, 2017, the Company sold 1,381,317 shares of Common Stock valuated at $1,610,190 under this ATM agreement. Under the December 18, 2014 Purchase Agreement with Apogee, we issued 1,200,000 common shares of IGC valued at $888,000 for the purchase of 24.9% ownership interest in Midtown Partners & Co., LLC. Pending downward adjustments, subject to certain balance sheet items of MTP, a total of 500,000 shares of IGC common stock have been held back. Pending the resolution of these balance sheet items, the shares that have been held back may be cancelled. The agreement had a deadline of June 30, 2015, for Apogee and Midtown Partners to obtain the requisite approvals from FINRA. Apogee did not file for approval on time, and consequently pursuant to the terms of the Agreement, there are several penalties that will apply, including the cancellation of 700,000 shares of IGC stock and a penalty of $125,000 owed by Apogee to us. We are not seeking to consummate the acquisition of the remaining interest in Midtown Partners at this time. The Company has granted (1) to its advisors and employees options to purchase a total of 650,000 shares of common stock at exercise prices ranging from $0.10 to $0.60 are calculated with volatility 119%, interest rate 0.77% and expiration of 5 years, all of which are outstanding and exercisable as of December 31, 2017; and (2) 100,000 shares to acquire the exclusive right to the license of the U.S. patent filing entitled “THC as a Potential Therapeutic Agent for Alzheimer’s Disease” by the University of South Florida. Further, pursuant to IGC’s employee stock option plan and during the quarter ended December 31, 2017, IGC granted 1,455,000 shares to its directors and its employees with minimum vesting period of one year. As of December 31, 2017, IGC has 29,499,790 shares of Common Stock issued and outstanding.

NOTE 14 - STOCK-BASED COMPENSAT

NOTE 14 - STOCK-BASED COMPENSATION	9 Months Ended
	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	NOTE 14 – STOCK-BASED COMPENSATION On April 1, 2009, the Company adopted ASC 718, “Compensation-Stock Compensation” (previously referred to as SFAS No. 123 (revised 2004), Share Based Payment)

NOTE 15 - SELLING, GENERAL AND

NOTE 15 - SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	9 Months Ended
	Dec. 31, 2017
Disclosure Text Block [Abstract]
Other Operating Income and Expense [Text Block]	NOTE 15 – SELLING, GENERAL AND ADMINISTRATIVE EXPENSES Selling, general and administrative expenses were $507,332 for the three months ended December 31, 2017 as compared to $322,891 for the three months ended December 31, 2016. Selling, general and administrative expenses include compensation expenses to management, legal and professional expenses, investor-relations expenses, acquisition related expenses and travel expenses.

NOTE 16 - IMPAIRMENT

NOTE 16 - IMPAIRMENT	9 Months Ended
	Dec. 31, 2017
Disclosure Text Block Supplement [Abstract]
Asset Impairment Charges [Text Block]	NOTE 16 – IMPAIRMENT None during fiscal quarter ended December 31, 2017.

NOTE 17 - OTHER INCOME

NOTE 17 - OTHER INCOME	9 Months Ended
	Dec. 31, 2017
Other Income and Expenses [Abstract]
Other Income and Other Expense Disclosure [Text Block]	NOTE 17 – INTEREST AND OTHER INCOME Interest and other income for the three-month periods ended December 31, 2017 and 2016 amounted to $1,090 and $359,104, respectively, and included income received from the supply of skilled operators for the heavy equipment rental business and from the rent of the apartment belonging to TBL, which is in Kochi, India.

NOTE 18 - RECONCILIATION OF EPS

NOTE 18 - RECONCILIATION OF EPS	9 Months Ended
	Dec. 31, 2017
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	NOTE 18 – RECONCILIATION OF EPS In accordance with ASC Topic 280 – "Earnings Per Share", the basic loss per common share is computed by dividing net loss available to common stockholders by the weighted average number of common stock outstanding. Diluted loss per common share is computed similar to basic loss per common share except that the denominator is increased to include the number of additional shares of common stock that would have been outstanding if the potential common stock had been issued and if the additional shares of common stock were dilutive. Potential common stock consists of the incremental common stock issuable upon the exercise of common stock options and warrants (using the if-converted method). The computation of basic loss per share for the period ended December 31, 2017 excludes potentially dilutive securities of 1,815,667 shares underlying share purchase options and warrants , and 29,768 shares from the conversion of outstanding units The historical weighted average per share for our shares through December 31, 2017, was applied using the treasury method of calculating the fully diluted shares. The weighted average number of shares outstanding as of December 31, 2017 and 2016 used for the computation of basic earnings per share (“EPS”) is 28,169,292 and 27,446,095, respectively. Due to the loss incurred during the three-month period ended December 31, 2017, all the potential equity shares are anti-dilutive and accordingly, the fully diluted EPS is equal to the basic EPS.

NOTE 19 - INCOME TAXES

NOTE 19 - INCOME TAXES	9 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	NOTE 19 – INCOME TAXES The Company adopted ASC 740, Accounting for Uncertainty in Income Taxes. In assessing the recoverability of its deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of the deferred tax assets is dependent on the generation of future taxable income during the periods in which those temporary differences become deductible. The management considers historical and projected future taxable income, and tax planning strategies in making this assessment. The Company’s effective tax rate was 0% for both the quarters ended December 31, 2017 and 2016. The Company has US deferred tax assets, which have been offset by valuation allowance because of historical and expected losses. As the Company reverses its losses and becomes profitable, we will reassess the likelihood of recovering a portion or all of the deferred tax assets. The Company recorded an income tax gain/expense of $0 resulting from operational results of its foreign entities for both three-month periods ended December 31, 2017 and 2016. As of December 31, 2017, and 2016, there was no significant liability for income tax associated with unrecognized tax benefits. As of December 31, 2017, IGC could not use its net operating losses.

NOTE 20 - SEGMENT INFORMATION

NOTE 20 - SEGMENT INFORMATION	9 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	NOTE 20 – SEGMENT INFORMATION Accounting pronouncements establish standards for the manner in which public companies report information about operating segments in annual and interim financial statements. Operating segments are components of an enterprise that have distinct financial information available and evaluated regularly by the chief operating decision-maker (“CODM”) to decide how to allocate resources and evaluate performance. The Company’s CODM is considered to be the Company’s chief executive officer (“CEO”). The CEO reviews financial information presented on an entity level basis for purposes of making operating decisions and assessing financial performance. The Company has determined that it operates as two operating and reportable segments: Pharmaceutical, and Legacy. Therefore, the Company has commenced reporting two segments. Our legacy infrastructure business (“Legacy”, “Legacy Business””) that consists of trading, real-estate management, and heavy equipment leasing is one operating and reportable segment. The other is the pharmaceutical segment that did not have revenue for the quarter ended December 31, 2017. The following provides information required by ASC 280-10-50-38. Entity-Wide Information. 1) The table below shows revenue reported by product and service: Three months ended December 31, Nine months ended December 31, 2017 2016 2017 2016 Pharmaceutical Business Revenue $ - $ - $ - $ - Operating income/(Loss) (422,706 ) (243,917 ) (957,870 ) (711,950 ) Net Profit/(Loss) (483,054 ) (285,592 ) (1,103,372 ) (838,774 ) Legacy Business Revenue $ 762,009 $ 249,801 $ 1,050,582 $ 487,364 Operating income/(Loss) (50,668 ) (142,195 ) (117,251 ) (607,339 ) Net profit/(Loss) (49,527 ) 174,031 (107,619 ) (270,827 ) 2(a) The following table presents revenue by geographic area as determined by where the customer is serviced: Three months ended December 31, Nine months ended December 31, 2017 2016 2017 2016 India $ 149,310 $ (15,886 ) $ 382,580 $ 103,132 Hong Kong 585,884 213,117 585,884 213,117 Malaysia 26,815 52,570 82,118 171,115 Total $ 762,009 $ 249,801 $ 1,050,582 $ 487,364 In 2016 December Quarter, revenue of Techni Bharti Private Limited (IGC’s India- based subsidiary) is re-classified as other income. 2(b) The following table presents long-lived assets by geographic area: As of December, 30 2017 2016 India $ 5,771,338 $ 5,790,817 USA 2,090,978 3,334,509 Malaysia 248,023 207,427 Total $ 8,110,339 $ 9,332,753 2(c) The table below shows nine-month revenue reported by product and service for the period ended December 31, 2017: Product & Service Amount % on total revenues Trading $ 874,099 83 % Real Estate $ 82,118 8 % Rental $ 94,365 9 % TOTAL $ 1,050,582 100 %

NOTE 21 - CERTAIN AGED RECEIVAB

NOTE 21 - CERTAIN AGED RECEIVABLES	9 Months Ended
	Dec. 31, 2017
Disclosure Text Block Supplement [Abstract]
Loans, Notes, Trade and Other Receivables, Excluding Allowance for Credit Losses [Text Block]	NOTE 21 – CERTAIN AGED RECEIVABLES The receivable and other assets as of December 31, 2017 and March 31, 2017, include certain aged receivables in the amount of $437,571. The aged receivables are due from the Cochin International Airport. Cochin International Airport is partially owned by the State Government of Kerala. The receivables have been due for periods in excess of one year as of December 31, 2017. These receivables are included in accounts receivable and have been classified as current because the arbitration process has concluded, and ruling was given in our favor. The Company continues to carry the full value of the receivables without interest and without any impairment, because the Company believes that there is minimal risk that this organization will become insolvent and unable to make payment.

NOTE 22 - FAIR VALUE OF FINANCI

NOTE 22 - FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	NOTE 22 – FAIR VALUE OF FINANCIAL INSTRUMENTS The fair value of the Company’s current assets and current liabilities approximate their carrying value because of their short-term nature. Such financial instruments are classified as current and are expected to be liquidated within the next twelve months.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	9 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of presentation and use of estimates The Company has prepared the accompanying unaudited Condensed Consolidated Financial Statements (“Financial Statements”) in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by United States generally accepted accounting principles (“GAAP”) for complete financial statements. In preparing the financial statements management is required to make estimates and assumptions that could affect the amounts reported in these condensed consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. The results for interim periods do not necessarily indicate the results that may be expected for any other interim period or for the full year. The significant accounting policies adopted by the Company, in respect of these consolidated financial statements, are set out in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2017. Therefore, the Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and respective notes contained in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2017 filed with the SEC on July 14, 2017. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation have been included in the Financial Statements. The consolidated financial statements include the accounts of the Company and all its subsidiaries that are more than 50% owned and controlled. The Company consolidates the subsidiaries into its consolidated financial statements. Transactions between the Company and its subsidiaries have been eliminated in the consolidated financial statements.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Presentation of functional currencies In the quarter ended December 31, 2017, in addition to the US, IGC operates in India, Hong Kong and Malaysia and a substantial portion of the Company’s sales are denominated in USD, INR, and RM. As a result, changes in the relative values of the U.S. dollar and INR or the RM affect revenues and profits as the results are translated into U.S. dollars in the consolidated and pro forma financial statements. The accompanying financial statements are reported in U.S. dollars. The INR and the RM are the functional currencies for the Company. The translation of the functional currencies into U.S. dollars is performed for assets and liabilities using the exchange rates in effect at the balance sheet date and for revenues, costs and expenses using average exchange rates prevailing during the reporting periods. Adjustments resulting from the translation of functional currency financial statements to reporting currency are accumulated and reported as other comprehensive income/(loss), a separate component of shareholders’ equity.
Consolidation, Policy [Policy Text Block]	Consolidation The Company’s current fiscal year ends on March 31, 2018. Unless the context requires otherwise, all references in this report to “IGC,” “we,” “our” and “us” refer to India Globalization Capital, Inc., together with its subsidiaries, as listed and described in its Annual Report on Form 10-K filed with the SEC on July 14, 2017. We exclude our investments and minority non-controlling interests, and any information provided by them is not incorporated by reference in this report, and you should not consider it a part of this report. Our filings are available on www.sec.gov. The information contained on our website, www.igcinc.us, is not incorporated by reference in this report, and you should not consider it a part of this report.

NOTE 4 - OTHER CURRENT AND NO28

NOTE 4 - OTHER CURRENT AND NON-CURRENT ASSETS (Tables)	9 Months Ended
	Dec. 31, 2017
Disclosure Text Block Supplement [Abstract]
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]	Prepaid expenses and other current assets consist of the following: As of December 31, 2017 As of March 31, 2017 Prepaid /preliminary expenses $ - $ 6,750 Advance to suppliers, others & services 355,490 352,850 Security/statutory advances 17,320 14,216 Prepaid and accrued interest 1,459 1,436 Deposit and other current assets 5,516 35,156 Total $ 379,785 $ 410,408
Schedule of Other Assets, Noncurrent [Table Text Block]	Other non-current assets consist of the following: As of December 31, 2017 As of March 31, 2017 Statutory/Other advances $ 521,631 $ 539,720 Product formulation 299,282 - Total $ 820,913 $ 539,720

NOTE 5 - INTANGIBLE ASSETS AN29

NOTE 5 - INTANGIBLE ASSETS AND GOODWILL (Tables)	9 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill [Table Text Block]	The movement in intangible assets and goodwill is given below. As of December 31, 2017 As of March 31, 2017 Intangible assets at the beginning of the period $ - $ 113,321 Amortization - (113,321 ) Patent filings and rights 124,272 - Total Intangible assets $ 124,272 $ - Goodwill of Cabaran Ultima Sdn Bhd 198,169 198,169 Total Goodwill $ 198,169 198,169

NOTE 6 - PROPERTY, PLANT AND 30

NOTE 6 - PROPERTY, PLANT AND EQUIPMENT (Tables)	9 Months Ended
	Dec. 31, 2017
Property Plant and Equipment Table [Member]
NOTE 6 - PROPERTY, PLANT AND EQUIPMENT (Tables) [Line Items]
Property, Plant and Equipment [Table Text Block]	Property, plant and equipment consist of the following: Category Useful Life (years) As of December 31, 2017 As of March 31, 2017 Building (flat) 25 $ 245,035 $ 241,181 Plant and machinery 20 1,737,381 1,710,055 Computer equipment 3 160,643 157,349 Office equipment 5 121,372 119,528 Furniture and fixtures 5 72,167 70,368 Vehicles 5 296,288 292,764 Assets under construction N/A 969,573 957,880 Total $ 3,602,459 $ 3,549,125 Less: Accumulated depreciation $ (2,651,108 ) $ (2,595,189 ) Net Assets $ 951,351 $ 953,936

NOTE 7 - INVESTMENTS - OTHERS (

NOTE 7 - INVESTMENTS - OTHERS (Tables)	9 Months Ended
	Dec. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments [Table Text Block]	Investments - others for each of the periods ended December 30, 2017 and March 31, 2017, consisted of the following: As of December 31, 2017 As of March 31, 2017 Investment in equity shares of unlisted company & associates $ 67,912 $ 63,392 Investment in affiliate 773,111 773,111 Investment in land 5,174,611 5,174,611 Total $ 6,015,634 $ 6,011,114

NOTE 9 - OTHER CURRENT AND NO32

NOTE 9 - OTHER CURRENT AND NON-CURRENT LIABILITIES (Tables)	9 Months Ended
	Dec. 31, 2017
Other Current Liabilities [Member]
NOTE 9 - OTHER CURRENT AND NON-CURRENT LIABILITIES (Tables) [Line Items]
Schedule of Other Assets and Other Liabilities [Table Text Block]	Other current liabilities consist of the following: As of December 31, 2017 As of March 31, 2017 Statutory payables $ 16,344 $ 15,203 Employee related liabilities 457,757 676,511 Total $ 474,101 $ 691,714

NOTE 20 - SEGMENT INFORMATION (

NOTE 20 - SEGMENT INFORMATION (Tables)	9 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	The table below shows revenue reported by product and service: Three months ended December 31, Nine months ended December 31, 2017 2016 2017 2016 Pharmaceutical Business Revenue $ - $ - $ - $ - Operating income/(Loss) (422,706 ) (243,917 ) (957,870 ) (711,950 ) Net Profit/(Loss) (483,054 ) (285,592 ) (1,103,372 ) (838,774 ) Legacy Business Revenue $ 762,009 $ 249,801 $ 1,050,582 $ 487,364 Operating income/(Loss) (50,668 ) (142,195 ) (117,251 ) (607,339 ) Net profit/(Loss) (49,527 ) 174,031 (107,619 ) (270,827 )
Revenue from External Customers by Geographic Areas [Table Text Block]	The following table presents revenue by geographic area as determined by where the customer is serviced: Three months ended December 31, Nine months ended December 31, 2017 2016 2017 2016 India $ 149,310 $ (15,886 ) $ 382,580 $ 103,132 Hong Kong 585,884 213,117 585,884 213,117 Malaysia 26,815 52,570 82,118 171,115 Total $ 762,009 $ 249,801 $ 1,050,582 $ 487,364
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	The following table presents long-lived assets by geographic area: As of December, 30 2017 2016 India $ 5,771,338 $ 5,790,817 USA 2,090,978 3,334,509 Malaysia 248,023 207,427 Total $ 8,110,339 $ 9,332,753
Revenue from External Customers by Products and Services [Table Text Block]	The table below shows nine-month revenue reported by product and service for the period ended December 31, 2017: Product & Service Amount % on total revenues Trading $ 874,099 83 % Real Estate $ 82,118 8 % Rental $ 94,365 9 % TOTAL $ 1,050,582 100 %

NOTE 1 - BUSINESS DESCRIPTION34

NOTE 1 - BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	9 Months Ended
	Dec. 31, 2017USD ($)
NOTE 1 - BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Number of Operating Segments	2
IGC Enterprise [Member]
NOTE 1 - BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Other Payments to Acquire Businesses (in Dollars)	$ 745
Equity Method Investment, Ownership Percentage	100.00%

NOTE 3 - ACCOUNTS RECEIVABLE (D

NOTE 3 - ACCOUNTS RECEIVABLE (Details) - USD ($)	Dec. 31, 2017	Mar. 31, 2017
Receivables [Abstract]
Accounts Receivable, Net, Current	$ 1,155,229	$ 752,926

NOTE 4 - OTHER CURRENT AND NO36

NOTE 4 - OTHER CURRENT AND NON-CURRENT ASSETS (Details)	May 21, 2012USD ($)
Land [Member]
NOTE 4 - OTHER CURRENT AND NON-CURRENT ASSETS (Details) [Line Items]
Payments to Acquire Land	$ 383,832

NOTE 4 - OTHER CURRENT AND NO37

NOTE 4 - OTHER CURRENT AND NON-CURRENT ASSETS (Details) - Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure - USD ($)	Dec. 31, 2017	Mar. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid /preliminary expenses		$ 6,750
Advance to suppliers, others & services	$ 355,490	352,850
Security/statutory advances	17,320	14,216
Prepaid and accrued interest	1,459	1,436
Deposit and other current assets	5,516	35,156
Total	$ 379,785	$ 410,408

NOTE 4 - OTHER CURRENT AND NO38

NOTE 4 - OTHER CURRENT AND NON-CURRENT ASSETS (Details) - Schedule of Other Assets, Noncurrent - USD ($)	Dec. 31, 2017	Mar. 31, 2017
Schedule of Other Assets, Noncurrent [Abstract]
Statutory/Other advances	$ 521,631	$ 539,720
Product formulation	299,282	0
Total	$ 820,913	$ 539,720

NOTE 5 - INTANGIBLE ASSETS AN39

NOTE 5 - INTANGIBLE ASSETS AND GOODWILL (Details)	Dec. 31, 2017USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, Net (Including Goodwill)	$ 198,169

NOTE 5 - INTANGIBLE ASSETS AN40

NOTE 5 - INTANGIBLE ASSETS AND GOODWILL (Details) - Schedule of Intangible Assets And Goodwill - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2017	Mar. 31, 2017
NOTE 5 - INTANGIBLE ASSETS AND GOODWILL (Details) - Schedule of Intangible Assets And Goodwill [Line Items]
Intangible assets at the beginning of the period	$ 0	$ 113,321
Amortization	0	(113,321)
Patent filings and rights	124,272	0
Total Intangible assets	124,272	0
Total Goodwill	198,169	198,169
Cabaran Ultima Sdn. Bhd. ("Ultima") [Member]
NOTE 5 - INTANGIBLE ASSETS AND GOODWILL (Details) - Schedule of Intangible Assets And Goodwill [Line Items]
Goodwill of Cabaran Ultima Sdn Bhd	$ 198,169	$ 198,169

NOTE 6 - PROPERTY, PLANT AND 41

NOTE 6 - PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Depreciation, Depletion and Amortization	$ 4,989	$ 196,103	$ 15,297	$ 391,617

NOTE 6 - PROPERTY, PLANT AND 42

NOTE 6 - PROPERTY, PLANT AND EQUIPMENT (Details) - Property, Plant and Equipment - USD ($)	9 Months Ended
	Dec. 31, 2017	Mar. 31, 2017
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 3,602,459	$ 3,549,125
Less: Accumulated depreciation	(2,651,108)	(2,595,189)
Net Assets	$ 951,351	953,936
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	25 years
Property, plant and equipment, gross	$ 245,035	241,181
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	20 years
Property, plant and equipment, gross	$ 1,737,381	1,710,055
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Property, plant and equipment, gross	$ 160,643	157,349
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Property, plant and equipment, gross	$ 121,372	119,528
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Property, plant and equipment, gross	$ 72,167	70,368
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Property, plant and equipment, gross	$ 296,288	292,764
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life
Property, plant and equipment, gross	$ 969,573	$ 957,880

NOTE 7 - INVESTMENTS - OTHERS43

NOTE 7 - INVESTMENTS - OTHERS (Details) - USD ($)	Dec. 18, 2014	Dec. 31, 2017	Mar. 31, 2017
NOTE 7 - INVESTMENTS - OTHERS (Details) [Line Items]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures		$ 773,111	$ 773,111
Midtown Partners & Co. LLC, ("Midtown Partners") [Member]
NOTE 7 - INVESTMENTS - OTHERS (Details) [Line Items]
Stock Issued During Period, Shares, Acquisitions (in Shares)	1,200,000
Stock Issued During Period, Value, Acquisitions	$ 888,000
Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions	24.90%
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures		$ 773,111

NOTE 7 - INVESTMENTS - OTHERS44

NOTE 7 - INVESTMENTS - OTHERS (Details) - Schedule of Investments - USD ($)	Dec. 31, 2017	Mar. 31, 2017
Schedule of Equity Method Investments [Line Items]
Investment in affiliate	$ 773,111	$ 773,111
Investment in land	5,174,611	5,174,611
Total	6,015,634	6,011,114
Midtown Partners & Co. LLC, ("Midtown Partners") [Member]
Schedule of Equity Method Investments [Line Items]
Investment in equity shares of unlisted company & associates	$ 67,912	$ 63,392

NOTE 9 - OTHER CURRENT AND NO45

NOTE 9 - OTHER CURRENT AND NON-CURRENT LIABILITIES (Details) - Schedule of Other Current Liabilities - USD ($)	Dec. 31, 2017	Mar. 31, 2017
Schedule of Other Current Liabilities [Abstract]
Statutory payables	$ 16,344	$ 15,203
Employee related liabilities	457,757	676,511
Total	$ 474,101	$ 691,714

NOTE 10 - RELATED PARTY TRANS46

NOTE 10 - RELATED PARTY TRANSACTIONS (Details)	Jan. 01, 2018	Dec. 31, 2017USD ($)	Dec. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2017MYR	Mar. 31, 2017USD ($)
Chief Executive Officer [Member]
NOTE 10 - RELATED PARTY TRANSACTIONS (Details) [Line Items]
Due to Related Parties		$ 98,185	$ 98,185
Affiliated Entity [Member] | Monthly Payment for Office Space and Certain General and Administrative Services [Member]
NOTE 10 - RELATED PARTY TRANSACTIONS (Details) [Line Items]
Related Party Transaction, Amounts of Transaction			4,500
Operating Leases, Rent Expense		13,500
Affiliated Entity [Member] | Monthly Payment for Office and Facilities [Member]
NOTE 10 - RELATED PARTY TRANSACTIONS (Details) [Line Items]
Related Party Transaction, Amounts of Transaction			6,100
Lessor, Operating Lease, Renewal Term	1 year
Operating Leases, Rent Expense		36,600
Director [Member]
NOTE 10 - RELATED PARTY TRANSACTIONS (Details) [Line Items]
Due to Related Parties, Current		$ 82,147	$ 82,147
Apogee Financial Services [Member]
NOTE 10 - RELATED PARTY TRANSACTIONS (Details) [Line Items]
Payments to Acquire Notes Receivable				$ 70,000
Secured Debt [Member] | Spouse of Chief Executive Officer [Member]
NOTE 10 - RELATED PARTY TRANSACTIONS (Details) [Line Items]
Due to Related Parties | MYR					MYR 244,412
Debt Instrument, Interest Rate, Stated Percentage		0.00%	0.00%		0.00%
Loans Payable [Member]
NOTE 10 - RELATED PARTY TRANSACTIONS (Details) [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		10.00%	10.00%		10.00%
Debt Instrument, Face Amount		$ 737,097	$ 737,097
Loans Payable [Member] | Note Payable 5 [Member]
NOTE 10 - RELATED PARTY TRANSACTIONS (Details) [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		0.00%	0.00%		0.00%	0.00%
Debt Instrument, Face Amount		$ 195,061	$ 195,061			$ 97,500
Debt Instrument, Maturity Date			Feb. 23, 2022

NOTE 11 - NOTES PAYABLE AND L47

NOTE 11 - NOTES PAYABLE AND LOANS – OTHERS (Details)	1 Months Ended	3 Months Ended	9 Months Ended	12 Months Ended
	Aug. 31, 2016shares	Dec. 31, 2017USD ($)shares	Dec. 31, 2017USD ($)shares	Mar. 31, 2017USD ($)shares
Notes Payable, Other Payables [Member] | Bricoleur Note [Member]
NOTE 11 - NOTES PAYABLE AND LOANS – OTHERS (Details) [Line Items]
Debt Instrument, Face Amount		$ 1,800,000	$ 1,800,000
Stock Issued During Period, Shares, Other (in Shares) | shares		90,000
Stock Issued During Period, Value, Other		$ 48,000
Notes Payable, Other Payables [Member] | Bricoleur Note [Member] | Monthly Non-Cash Interest Payments Up to July 2014 [Member]
NOTE 11 - NOTES PAYABLE AND LOANS – OTHERS (Details) [Line Items]
Stock Issued During Period, Shares, Other (in Shares) | shares				17,100
Notes Payable, Other Payables [Member] | Bricoleur Note [Member] | Monthly Non-Cash Interest Payments Starting on August 2014 [Member]
NOTE 11 - NOTES PAYABLE AND LOANS – OTHERS (Details) [Line Items]
Stock Issued During Period, Shares, Other (in Shares) | shares			30,000	23,489
Notes Payable, Other Payables [Member] | Bricoleur Note [Member] | Monthly Non-Cash Interest Payments [Member]
NOTE 11 - NOTES PAYABLE AND LOANS – OTHERS (Details) [Line Items]
Stock Issued During Period, Shares, Other (in Shares) | shares			90,000
Stock Issued During Period, Value, Other			$ 48,000
Notes Payable, Other Payables [Member] | Note Payable 7 [Member]
NOTE 11 - NOTES PAYABLE AND LOANS – OTHERS (Details) [Line Items]
Debt Instrument, Face Amount		$ 9,899	$ 9,899
Debt Instrument, Interest Rate, Stated Percentage		0.00%	0.00%
Notes Payable, Other Payables [Member] | Spouse of Chief Executive Officer [Member] | Note Payable 6 [Member]
NOTE 11 - NOTES PAYABLE AND LOANS – OTHERS (Details) [Line Items]
Debt Instrument, Face Amount		$ 244,411	$ 244,411
Unsecured Debt [Member]
NOTE 11 - NOTES PAYABLE AND LOANS – OTHERS (Details) [Line Items]
Stock Issued During Period, Shares, Other (in Shares) | shares	30,000
Loans Payable [Member]
NOTE 11 - NOTES PAYABLE AND LOANS – OTHERS (Details) [Line Items]
Debt Instrument, Face Amount		$ 737,097	$ 737,097
Number of Other Loans		7	7
Debt Instrument, Interest Rate, Stated Percentage		10.00%	10.00%
Loans Payable [Member] | Note Payable 1 [Member]
NOTE 11 - NOTES PAYABLE AND LOANS – OTHERS (Details) [Line Items]
Debt Instrument, Face Amount		$ 62,726	$ 62,726
Debt Instrument, Interest Rate, Stated Percentage		10.00%	10.00%
Debt Instrument, Maturity Date			Apr. 25, 2018
Loans Payable [Member] | Note Payable 2 [Member]
NOTE 11 - NOTES PAYABLE AND LOANS – OTHERS (Details) [Line Items]
Debt Instrument, Face Amount		$ 100,000	$ 100,000
Debt Instrument, Interest Rate, Stated Percentage		24.00%	24.00%
Debt Instrument, Maturity Date			Feb. 23, 2022
Loans Payable [Member] | Note Payable 3 [Member]
NOTE 11 - NOTES PAYABLE AND LOANS – OTHERS (Details) [Line Items]
Debt Instrument, Face Amount		$ 50,000	$ 50,000
Debt Instrument, Interest Rate, Stated Percentage		15.00%	15.00%
Debt Instrument, Maturity Date			Feb. 23, 2022
Loans Payable [Member] | Note Payable 4 [Member]
NOTE 11 - NOTES PAYABLE AND LOANS – OTHERS (Details) [Line Items]
Debt Instrument, Face Amount		$ 75,000	$ 75,000
Debt Instrument, Interest Rate, Stated Percentage		15.00%	15.00%
Debt Instrument, Maturity Date			Feb. 23, 2022
Loans Payable [Member] | Note Payable 5 [Member]
NOTE 11 - NOTES PAYABLE AND LOANS – OTHERS (Details) [Line Items]
Debt Instrument, Face Amount		$ 195,061	$ 195,061	$ 97,500
Debt Instrument, Interest Rate, Stated Percentage		0.00%	0.00%	0.00%
Debt Instrument, Maturity Date			Feb. 23, 2022

NOTE 13 - COMMON STOCK (Details

NOTE 13 - COMMON STOCK (Details) - USD ($)	Dec. 18, 2014	Dec. 31, 2017	Dec. 31, 2017	Mar. 31, 2015	Mar. 31, 2017
NOTE 13 - COMMON STOCK (Details) [Line Items]
Common Stock, Par or Stated Value Per Share (in Dollars per share)		$ 0.0001	$ 0.0001		$ 0.0001
Unit Description			We have redeemable Warrants (CUSIP number 45408X118 expiring on March 6, 2019) to purchase Common Stock (ticker symbol: IGC.WT) and Units consisting of one share of Common Stock and two redeemable warrants to purchase Common Stock that are not listed.
Class of Warrant or Right, Outstanding		11,656,668	11,656,668
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		1,165,667	1,165,667
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share)		$ 50	$ 50
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		1,455,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		1 year
Common Stock, Shares, Outstanding		29,499,790	29,499,790		28,272,667
Common Stock, Shares, Issued		29,499,790	29,499,790		28,272,667
ATM Agreement [Member]
NOTE 13 - COMMON STOCK (Details) [Line Items]
Stock Settled During Period, Shares		23,201
Stock Settled During Period, Value (in Dollars)		$ 8,018
New ATM Agreement [Member]
NOTE 13 - COMMON STOCK (Details) [Line Items]
Stock Issued During Period, Shares, Other		1,381,317
Stock Issued During Period, Value, Other (in Dollars)		$ 1,610,190
Private Warrants [Member]
NOTE 13 - COMMON STOCK (Details) [Line Items]
Class of Warrant or Right, Outstanding		831,768	831,768
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		83,176	83,176
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share)		$ 9	$ 9
Patents [Member]
NOTE 13 - COMMON STOCK (Details) [Line Items]
Stock Issued During Period, Shares, Acquisitions			100,000
Notes Payable, Other Payables [Member] | Bricoleur Note [Member]
NOTE 13 - COMMON STOCK (Details) [Line Items]
Stock Issued During Period, Shares, Other		90,000
Stock Issued During Period, Value, Other (in Dollars)		$ 48,000
Debt Instrument, Face Amount (in Dollars)		$ 1,800,000	$ 1,800,000
Advisers and Employees [Member]
NOTE 13 - COMMON STOCK (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			650,000
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate			119.00%
Share-based Goods and Nonemployee Services Transaction, Valuation Method, Risk Free Interest Rate			0.77%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term			5 years
Advisers and Employees [Member] | Minimum [Member]
NOTE 13 - COMMON STOCK (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share)			$ 0.10
Advisers and Employees [Member] | Maximum [Member]
NOTE 13 - COMMON STOCK (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share)			$ 0.60
Directors and Employees [Member]
NOTE 13 - COMMON STOCK (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		1,455,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		1 year
Midtown Partners & Co. LLC, ("Midtown Partners") [Member]
NOTE 13 - COMMON STOCK (Details) [Line Items]
Stock Issued During Period, Shares, Acquisitions	1,200,000
Stock Issued During Period, Value, Acquisitions (in Dollars)	$ 888,000
Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions	24.90%
Business Acquisition, Shares Held Back	500,000
Investment, Additional Information				The agreement had a deadline of June 30, 2015, for Apogee and Midtown Partners to obtain the requisite approvals from FINRA. Apogee did not file for approval on time, and consequently pursuant to the terms of the Agreement, there are several penalties that will apply, including the cancellation of 700,000 shares of IGC stock and a penalty of $125,000 owed by Apogee to us.  We are not seeking to consummate the acquisition of the remaining interest in Midtown Partners at this time.

NOTE 14 - STOCK-BASED COMPENS49

NOTE 14 - STOCK-BASED COMPENSATION (Details)	3 Months Ended	9 Months Ended
	Dec. 31, 2017shares	Dec. 31, 2017shares
NOTE 14 - STOCK-BASED COMPENSATION (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	1,455,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	650,000	650,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	1,900,000	1,900,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year
ESOP 2008 Omnibus Plan [Member]
NOTE 14 - STOCK-BASED COMPENSATION (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		4,374,899
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	0	0

NOTE 15 - SELLING, GENERAL AN50

NOTE 15 - SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Disclosure Text Block [Abstract]
Selling, General and Administrative Expense	$ 507,332	$ 322,891	$ 1,217,293	$ 959,693

NOTE 17 - OTHER INCOME (Details

NOTE 17 - OTHER INCOME (Details) - USD ($)	3 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Other Income and Expenses [Abstract]
Other Income	$ 1,090	$ 359,104

NOTE 18 - RECONCILIATION OF E52

NOTE 18 - RECONCILIATION OF EPS (Details) - shares	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
NOTE 18 - RECONCILIATION OF EPS (Details) [Line Items]
Weighted Average Number of Shares Outstanding, Basic	28,169,292	27,446,095	27,126,208	27,446,095
Options and Warrants [Member]
NOTE 18 - RECONCILIATION OF EPS (Details) [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount			1,815,667
Outstanding Units [Member]
NOTE 18 - RECONCILIATION OF EPS (Details) [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount			29,768

NOTE 19 - INCOME TAXES (Details

NOTE 19 - INCOME TAXES (Details) - USD ($)	3 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
NOTE 19 - INCOME TAXES (Details) [Line Items]
Effective Income Tax Rate Reconciliation, Percent	0.00%	0.00%
Income Tax Expense (Benefit)	$ 0	$ 0
Foreign Operations [Member]
NOTE 19 - INCOME TAXES (Details) [Line Items]
Unrecognized Tax Benefits	$ 0	$ 0

NOTE 20 - SEGMENT INFORMATION54

NOTE 20 - SEGMENT INFORMATION (Details)	9 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
Number of Operating Segments	2

NOTE 20 - SEGMENT INFORMATION55

NOTE 20 - SEGMENT INFORMATION (Details) - Reconciliation of Revenue from Segments to Consolidated - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 762,009	$ 249,801	$ 1,050,582	$ 487,364
Operating income/(Loss)	(473,374)	(386,112)	(1,075,121)	(1,319,289)
Net Profit/(Loss)	(532,581)	(111,561)	(1,210,991)	(1,109,601)
Pharmaceutical Business [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	0	0	0	0
Operating income/(Loss)	(422,706)	(243,917)	(957,870)	(711,950)
Net Profit/(Loss)	(483,054)	(285,592)	(1,103,372)	(838,774)
Legacy Business [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	762,009	249,801	1,050,582	487,364
Operating income/(Loss)	(50,668)	(142,195)	(117,251)	(607,339)
Net Profit/(Loss)	$ (49,527)	$ 174,031	$ (107,619)	$ (270,827)

NOTE 20 - SEGMENT INFORMATION56

NOTE 20 - SEGMENT INFORMATION (Details) - Revenue from External Customers by Geographic Areas - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
NOTE 20 - SEGMENT INFORMATION (Details) - Revenue from External Customers by Geographic Areas [Line Items]
Revenue	$ 762,009	$ 249,801	$ 1,050,582	$ 487,364
INDIA
NOTE 20 - SEGMENT INFORMATION (Details) - Revenue from External Customers by Geographic Areas [Line Items]
Revenue	149,310	(15,886)	382,580	103,132
HONG KONG
NOTE 20 - SEGMENT INFORMATION (Details) - Revenue from External Customers by Geographic Areas [Line Items]
Revenue	585,884	213,117	585,884	213,117
MALAYSIA
NOTE 20 - SEGMENT INFORMATION (Details) - Revenue from External Customers by Geographic Areas [Line Items]
Revenue	$ 26,815	$ 52,570	$ 82,118	$ 171,115

NOTE 20 - SEGMENT INFORMATION57

NOTE 20 - SEGMENT INFORMATION (Details) - Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas - USD ($)	Dec. 30, 2017	Dec. 30, 2016
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived Assets	$ 8,110,339	$ 9,332,753
INDIA
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived Assets	5,771,338	5,790,817
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived Assets	2,090,978	3,334,509
MALAYSIA
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived Assets	$ 248,023	$ 207,427

NOTE 20 - SEGMENT INFORMATION58

NOTE 20 - SEGMENT INFORMATION (Details) - Revenue from External Customers by Products and Services - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Revenue from External Customer [Line Items]
Revenue	$ 762,009	$ 249,801	$ 1,050,582	$ 487,364
% of Total Revenue			100.00%
Trading [Member]
Revenue from External Customer [Line Items]
Revenue			$ 874,099
% of Total Revenue			83.00%
Real Estate [Member]
Revenue from External Customer [Line Items]
Revenue			$ 82,118
% of Total Revenue			8.00%
Rental [Member]
Revenue from External Customer [Line Items]
Revenue			$ 94,365
% of Total Revenue			9.00%

NOTE 21 - CERTAIN AGED RECEIV59

NOTE 21 - CERTAIN AGED RECEIVABLES (Details) - USD ($)	Dec. 31, 2017	Mar. 31, 2017
Disclosure Text Block Supplement [Abstract]
Other Receivables, Net, Current	$ 437,571	$ 437,571