India Globalization Capital (IGC) 10-Q 9 Nov 23 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Sep. 30, 2023	Nov. 07, 2023
Document Information Line Items
Entity Registrant Name	IGC PHARMA, INC.
Trading Symbol	IGC
Document Type	10-Q
Current Fiscal Year End Date	--03-31
Entity Common Stock, Shares Outstanding		63,734,439
Amendment Flag	false
Entity Central Index Key	0001326205
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Sep. 30, 2023
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-32830
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	20-2760393
Entity Address, Address Line One	10224 Falls Road
Entity Address, City or Town	Potomac
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	20854
City Area Code	301
Local Phone Number	983-0998
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Security Exchange Name	NYSEAMER
Entity Interactive Data Current	Yes

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
Current assets:
Cash and cash equivalents	$ 3,026	$ 3,196
Accounts receivable, net	137	107
Short term investments	98	154
Inventory	2,636	2,651
Deposits and advances	220	358
Total current assets	6,117	6,466
Non-current assets:
Intangible assets, net	1,181	1,170
Property, plant, and equipment, net	7,947	8,213
Claims and advances	998	1,003
Operating lease asset	263	326
Total non-current assets	10,389	10,712
Total assets	16,506	17,178
Current liabilities:
Accounts payable	549	530
Accrued liabilities and others	1,557	1,368
Total current liabilities	2,106	1,898
Non-current liabilities:
Long-term loans	139	141
Other liabilities	17	21
Operating lease liability	146	207
Total non-current liabilities	302	369
Total liabilities	2,408	2,267
Commitments and Contingencies – See Note 12
Stockholders’ equity:
Preferred stock, $0.0001 par value: authorized 1,000,000 shares, no shares issued or outstanding as of September 30, 2023, and March 31, 2023.	0	0
Common stock and additional paid-in capital, $0.0001 par value: 150,000,000 shares authorized; 63,706,939 and 53,077,436 shares issued and outstanding as of September 30, 2023, and March 31, 2023, respectively.	122,732	118,965
Accumulated other comprehensive loss	(3,443)	(3,389)
Accumulated deficit	(105,191)	(100,665)
Total stockholders’ equity	14,098	14,911
Total liabilities and stockholders’ equity	$ 16,506	$ 17,178

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Oct. 27, 2023	Sep. 30, 2023	Mar. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in Dollars per share)		$ 0.0001	$ 0.0001
Preferred stock, authorized shares		1,000,000	1,000,000
Preferred stock, shares issued		0	0
Preferred stock, shares outstanding		0	0
Common stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, shares authorized		150,000,000	150,000,000
Common stock, shares issued		63,706,939	53,077,436
Common stock, shares outstanding		63,706,939	53,077,436

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenue	$ 291	$ 202	$ 846	$ 414
Cost of revenue	(117)	(67)	(417)	(137)
Gross profit	174	135	429	277
Selling, General and Administrative expenses	(1,397)	(1,855)	(3,044)	(3,405)
Research and development expenses	(1,268)	(768)	(2,015)	(2,162)
Operating loss	(2,491)	(2,488)	(4,630)	(5,290)
Other income, net	40	46	104	63
Loss before income taxes	(2,451)	(2,442)	(4,526)	(5,227)
Income tax expense/benefit	0	0	0	0
Net loss attributable to common stockholders	(2,451)	(2,442)	(4,526)	(5,227)
Foreign currency translation adjustments	(63)	(182)	(54)	(401)
Comprehensive loss	$ (2,514)	$ (2,624)	$ (4,580)	$ (5,628)
Net loss per share attributable to common stockholders:
Basic and diluted (in Dollars per share)	$ (0.05)	$ (0.05)	$ (0.08)	$ (0.1)
Weighted-average number of shares used in computing net loss per share amounts: (in Shares)	54,301,087	52,194,098	53,695,912	52,082,096

CONSOLIDATED STATEMENT OF STOCK

CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Common Stock Including Additional Paid in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance at Mar. 31, 2022		$ 116,019	$ (89,159)	$ (2,968)	$ 23,892
Balance (in Shares) at Mar. 31, 2022	51,054,000
Common stock-based compensation & expenses, net		1,776			1,776
Common stock-based compensation & expenses, net (in Shares)	1,796,000
Issuance of common stock through offering (net of expenses)		104			104
Issuance of common stock through offering (net of expenses) (in Shares)	208,000
Net loss			(5,227)		(5,227)
Foreign currency translation adjustments				(401)	(401)
Balance at Sep. 30, 2022		117,899	(94,386)	(3,369)	20,144
Balance (in Shares) at Sep. 30, 2022	53,058,000
Balance at Jun. 30, 2022		117,171	(91,944)	(3,187)	22,040
Balance (in Shares) at Jun. 30, 2022	51,841,000
Common stock-based compensation & expenses, net		624			624
Common stock-based compensation & expenses, net (in Shares)	1,009,000
Issuance of common stock through offering (net of expenses)		104			104
Issuance of common stock through offering (net of expenses) (in Shares)	208,000
Net loss			(2,442)		(2,442)
Foreign currency translation adjustments				(182)	(182)
Balance at Sep. 30, 2022		117,899	(94,386)	(3,369)	20,144
Balance (in Shares) at Sep. 30, 2022	53,058,000
Balance at Mar. 31, 2023		118,965	(100,665)	(3,389)	$ 14,911
Balance (in Shares) at Mar. 31, 2023	53,077,000				53,077,436
Common stock-based compensation & expenses, net		907			$ 907
Common stock-based compensation & expenses, net (in Shares)	1,130,000
Issuance of common stock through offering (net of expenses)		2,860			2,860
Issuance of common stock through offering (net of expenses) (in Shares)	10,000,000
Cancellation/forfeiture of shares (in Shares)	(500,000)
Net loss			(4,526)		(4,526)
Foreign currency translation adjustments				(54)	(54)
Balance at Sep. 30, 2023		122,732	(105,191)	(3,443)	$ 14,098
Balance (in Shares) at Sep. 30, 2023	63,707,000				63,706,939
Balance at Jun. 30, 2023		119,322	(102,740)	(3,380)	$ 13,202
Balance (in Shares) at Jun. 30, 2023	53,077,000
Common stock-based compensation & expenses, net		550			550
Common stock-based compensation & expenses, net (in Shares)	1,130,000
Issuance of common stock through offering (net of expenses)		2,860			2,860
Issuance of common stock through offering (net of expenses) (in Shares)	10,000,000
Cancellation/forfeiture of shares (in Shares)	(500,000)
Net loss			(2,451)		(2,451)
Foreign currency translation adjustments				(63)	(63)
Balance at Sep. 30, 2023		$ 122,732	$ (105,191)	$ (3,443)	$ 14,098
Balance (in Shares) at Sep. 30, 2023	63,707,000				63,706,939

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Statement of Cash Flows [Abstract]
Net loss	$ (4,526)	$ (5,227)
Adjustment to reconcile net loss to net cash:
Depreciation and amortization	313	332
Common stock-based compensation and expenses, net	907	1,776
Other non-cash items	(52)	45
Accounts receivables, net	(30)	(65)
Inventory	15	(202)
Deposits and advances	76	534
Claims and advances	5	(13)
Accounts payable	19	(524)
Accrued and other liabilities	185	(535)
Operating lease asset	63	63
Operating lease liability	(61)	(66)
Net cash used in operating activities	(3,086)	(3,882)
Cash flow from investing activities:
Purchase of property, plant, and equipment	(55)	277
Sale of property, plant, and equipment	42	0
Investment in short term investments	128	(193)
Acquisition and filing cost of patents and rights	(48)	(60)
Net cash provided by investing activities	67	24
Cash flows from financing activities:
Net proceeds from the issuance of common stock	2,860	103
Repayment of long-term loan	(2)	(2)
Net cash provided by financing activities	2,858	101
Effects of exchange rate changes on cash and cash equivalents	(9)	(80)
Net decrease in cash and cash equivalents	(170)	(3,837)
Cash and cash equivalents at the beginning of the period	3,196	10,460
Cash and cash equivalents at the end of the period	3,026	6,623
Non-cash items:
Common stock issued/granted for stock-based compensation, including patent acquisition	$ 907	$ 1,776

BUSINESS DESCRIPTION

BUSINESS DESCRIPTION	6 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Nature of Operations [Text Block]	NOTE 1 BUSINESS DESCRIPTION Overview IGC Pharma is a clinical-stage pharmaceutical company developing novel therapies for Alzheimer’s disease and conditions related to the central nervous system. The company is pursuing five assets: IGC-AD1, TGR-63, LMP, IGC-1C, and IGC-M3, all of which target Alzheimer’s disease and are at various stages of development. Our most clinically advanced investigational new drug for Alzheimer’s, IGC-AD1, has shown significant promise in preclinical studies. In Alzheimer’s cell lines, IGC-AD1 has demonstrated the potential to effectively suppress or ameliorate two key hallmarks of Alzheimer’s disease: plaques and tangles. In animal models, it has shown effectiveness in improving memory. Furthermore, in a Phase 1 multiple ascending dose (MAD) trial, it exhibited potential efficacy in reducing neuropsychiatric symptoms, including agitation, anxiety, and depression. IGC-AD1 is currently in a Phase 2B, multi-center, randomized, double-blind, placebo-controlled trial, specifically designed to address agitation in dementia from Alzheimer’s disease (clinicaltrials.gov, NCT05543681). This condition affects more than 10 million individuals in North America and Europe. The trial is being conducted at 10 sites in the US and Canada. Our portfolio includes four other small molecule assets, each at distinct stages of development, all with a singular mission — to transform the landscape of Alzheimer's treatment. LMP targets neuroinflammation, Aβ plaques, and neurofibrillary tangles, TGR-63 targets Aβ plaque, where we seek to disrupt the progression of Alzheimer's disease. IGC-M3 targets the inhibition of Aβ plaque aggregation with the potential to create a profound impact on early-stage Alzheimer’s. IGC-1C targets tau and neurofibrillary tangles, IGC-1C represents a forward-thinking approach to Alzheimer's therapy. Furthermore, IGC controls a total of 36 patent filings. IGC maintains a state-of-the-art manufacturing facility in Washington State, which is poised for potential use in a Phase 3 trial and commercialization of IGC-AD1. In Bogota, Colombia, we also operate an R&D laboratory and an internal Contract Research Organization (CRO) that provides clinical trial services. We are actively expanding our technological capabilities with a primary focus on Generative Artificial Intelligence (AI) to enhance various aspects of clinical trial operations and data analysis. Our Company is investing in and driving AI development with an immediate focus on clinical trial processes, and analysis. Our AI initiatives are centered on informing clinical trials, developing a methodology for early detection of Alzheimer’s, and investigating the interaction of pharmaceuticals with cannabinoids. Collectively, these core assets and initiatives underscore our commitment to advancing the field of pharmaceuticals, delivering groundbreaking treatments, and creating lasting value for our investors. We remain steadfast in our pursuit of excellence and our mission to improve the lives of those affected by Alzheimer’s and related conditions. Our manufacturing facility is also utilized to produce women’s wellness products under the brand “Holief.” IGC Pharma is a Maryland corporation established in 2005 with a fiscal year ending on March 31, spanning a 52- or 53-week period. The company operates in two primary business segments: Life Sciences and Infrastructure. Life Sciences Segment Pharmaceutical Over-the-Counter Products Phase 2 Clinical Trial Update In this document, we use the terms Phase 2 and Phase 2B interchangeably, though typically, a Phase 2 trial is divided into a Phase 2A and a Phase 2B trial. Phase 2A is designed to assess dosing requirements, while Phase 2B is intended to establish efficacy. Our company has started a Phase 2B protocol called “A Phase 2, Multi-Center, Double-Blind, Randomized, Placebo-controlled trial of the safety and efficacy of IGC-AD1 on agitation in participants with dementia due to Alzheimer’s disease.” The trial is powered at 146 Alzheimer’s patients, with half receiving a placebo, and is a superior, parallel-group study. The primary end point is agitation in dementia due to Alzheimer’s disease, as rated by the Cohen-Mansfield Agitation Inventory (CMAI) over a six-week period. The Phase 2 trial will also look at eleven exploratory objectives, including changes in anxiety, changes in cognitive processes such as attention, orientation, language, and visual spatial skills as well as memory, changes in depression, delusions, hallucinations, euphoria/elation, apathy, disinhibition, irritability, aberrant motor behavior, sleep disorder, appetite, quality of life, and caregiver burden. In addition, the trial will evaluate the impact of CYP450 polymorphisms and specifically CYP2C9 on each of the NPS and assess any reductions in psychotropic drugs, among others. CYP2C9 ranks amongst the most important drug metabolizing enzymes in humans, as it breaks down over 100 drugs, including nonsteroidal anti-inflammatory drugs. We seek to understand how various versions of the enzyme act on IGC-AD1. Each participant will receive two doses of IGC-AD1 (b.i.d.) or two doses of placebo per day for six weeks. Infrastructure Segment The Company’s infrastructure business has been operating since 2008. It includes (i) execution of construction contracts and (ii) rental of heavy construction equipment. Business Organization As of September 30, 2023, the Company had the following operating subsidiaries: Techni Bharathi Private Limited (TBL), IGCare LLC, Holi Hemp LLC, IGC Pharma LLC, SAN Holdings LLC, Sunday Seltzer LLC, Hamsa Biopharma India Pvt. Ltd., Colombia-based beneficially-owned subsidiary IGC Pharma SAS (formerly Hamsa Biopharma Colombia SAS) and IGC Pharma IP LLC. The Company’s fiscal year is the 52- or 53-week period that ends on March 31. The Company’s principal office is in Maryland. Additionally, the Company has offices in Washington state, Colombia, and India. The Company’s filings are available on www.sec.gov. IGC Pharma, Inc. was incorporated in 2005.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying condensed consolidated Balance Sheet as of September 30, 2023, and March 31, 2023, condensed consolidated statements of operations for the three months and six months ended September 30, 2023, and 2022, and condensed consolidated statements of cash flows for the six months ended September 30, 2023, and 2022, are unaudited. The consolidated balance sheet as of March 31, 2023, has been derived from audited financial statements, and the accompanying as of September 30, 2023 unaudited condensed consolidated financial statements (“interim statements”) of the Company have been prepared in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”) as determined by the Financial Accounting Standards Board (the “FASB”) within its Accounting Standards Codification (“ASC”) and under the rules and regulations of the SEC. Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments and disclosures necessary for a fair presentation of these interim statements have been included. The results reported in these interim statements are not necessarily indicative of the results that may be reported for the entire year. These interim statements should be read in conjunction with the Company’s audited consolidated financial statements for the fiscal year ended March 31, 2023 (“Fiscal 2023”) contained in the Company’s Form 10-K for Fiscal 2023, filed with the SEC on July 7, 2023, specifically in Note 2 to the consolidated financial statements. Principles of consolidation The interim statements include the consolidated accounts of the Company and its subsidiaries. Intercompany accounts and transactions have been eliminated. In the opinion of Management, the interim statements reflect all adjustments, which are normal and recurring in nature, necessary for fair financial statement presentation. Transactions between the Company and its subsidiaries are eliminated in the consolidated financial statements. Presentation and functional currencies The Company operates in India, the U.S., Colombia, and Hong Kong, and a portion of the Company’s financials are denominated in the Indian Rupee (“INR”), the Hong Kong Dollar (“HKD”), or the Colombian Peso (“COP”). As a result, changes in the relative values of the U.S. Dollar (“USD”), the INR, the HKD, or the COP affect our financial statements. The accompanying financial statements are reported in USD. INR, HKD, and COP are the functional currencies for certain subsidiaries of the Company. The translation of the functional currencies into USD is performed for assets and liabilities using the exchange rates in effect at the balance sheet date and for revenues 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 (loss), a separate component of shareholders’ equity. Transactions in currencies other than the functional currency during the year are converted into the functional currency at the applicable rates of exchange prevailing when the transactions occurred. Transaction gains and losses are recognized in the consolidated statements of operations. Going Concern The Company assesses and determines its ability to continue as a going concern in accordance with the provisions of ASC Subtopic 205-40, “ Presentation of Financial Statements Going Concern The Company is currently in a clinical trial stage and, thus, has not yet achieved profitability. The Company expects to continue to incur significant operating and net losses and negative cash flows from operations in the near future. The Company estimates that its current cash and cash equivalents balance with working capital credit facility and equity investment is sufficient to support operations beyond the twelve months following the date these consolidated financial statements and footnotes were issued. These estimates are based on assumptions that may prove to be wrong, and the Company could use its available capital resources sooner than it currently expects. Accounts receivable We make estimates of the collectability of our accounts receivable by analyzing historical payment patterns, customer concentrations, customer creditworthiness, and current economic trends. If the financial condition of a customer deteriorates, additional allowances may be required. We had $137 thousand of accounts receivable, net of provision for the doubtful debt of $12 thousand as of September 30, 2023, as compared to $107 thousand of accounts receivable, net of provision for the doubtful debt of $17 thousand as of March 31, 2023. Loss per share The computation of basic loss per share for the six months ended September 30, 2023, excludes potentially dilutive securities of approximately 9 million shares, which includes share options, unvested shares such as restricted shares and restricted share units, granted to employees, non-employees, and advisors, and shares from the conversion of outstanding units, if any because their inclusion would be anti-dilutive. The weighted average number of shares outstanding for the six months ended September 30, 2023, and 2022, used for the computation of basic earnings per share (“EPS”) is 53,695,912 and 52,082,096, respectively, as compared to 54,301,087 and 52,194,098 for the three months ended September 30, 2023, and 2022, respectively. Due to the loss incurred by the Company during the six months ended September 30, 2023, and 2022, all the potential equity shares are anti-dilutive, and accordingly, the fully diluted EPS is equal to the basic EPS. Cybersecurity We have a cybersecurity policy in place and have taken cybersecurity measures to safeguard against hackers, however, there can be no assurance thereof. During the six months ended September 30, 2023, there were no impactful breaches in cybersecurity. Revenue Recognition The Company recognizes revenue under ASC 606, Revenue from Contracts with Customers ASC 606 prescribes a 5-step process to achieve its core principle. The Company recognizes revenue from trading, rental, or product sales as follows: I. Identify the contract with the customer. II. Identify the contractual performance obligations. III. Determine the amount of consideration/price for the transaction. IV. Allocate the determined amount of consideration/price to the performance obligations. V. Recognize revenue when or as the performing party satisfies performance obligations. The consideration/price for the transaction (performance obligation(s)) is determined as per the agreement or invoice (contract) for the services and products in the Infrastructure and Life Sciences segment. Revenue in the Infrastructure segment is recognized for the renting business when the equipment is rented, and the terms of the agreement have been fulfilled during the period. Revenue from the execution of infrastructure contracts is recognized based on the output method as and when part of the performance obligation has been completed, and approval from the contracting agency has been obtained after survey of the performance completion as of that date. In the Life Sciences segment, the revenue from the wellness and lifestyle business is recognized once goods have been sold to the customer and the performance obligation has been completed. In retail sales, we offer consumer products through our online stores. Revenue is recognized when control of the goods is transferred to the customer. This generally occurs upon our delivery to a third-party carrier or to the customer directly. Revenue from white label services is recognized when the performance obligation has been completed, and output material has been transferred to the customer. Net sales disaggregated by significant products and services for the three months and six months ended September 30, 2023, and 2022 are as follows: (in thousands) Three months ended September 30, 2023 ($) (in thousands) Three months ended September 30, 2022 ($) (in thousands) Six months ended September 30, 2023 ($) (in thousands) Six months ended September 30, 2022 ($) Infrastructure segment - 7 166 17 Life Sciences segment Wellness and lifestyle (2) 69 150 113 230 White labeling services (3) 222 45 567 167 Total 291 202 846 414 (1) Infrastructure segment consists of income from the rental of heavy construction equipment and construction contracts. (2) Revenue from wellness and lifestyle consists of the sale of products such as gummies, hand sanitizers, bath bombs, lotions, beverages, hemp crude extract, hemp isolate, and hemp distillate. (3) Revenue from white label services consists of rebranding our formulations or the customer’s products as per the customer’s requirement. Recently issued accounting pronouncements Changes to U.S. GAAP are established by the Financial Accounting Standards Board (FASB) in the form of accounting standards updates (ASUs) to the FASB’s Accounting Standards Codification. The Company considers the applicability and impact of all ASUs. Newly issued ASUs not listed are expected to have no impact on the Company’s consolidated financial position and results of operations, because either the ASU is not applicable, or the impact is expected to be immaterial.

INVENTORY

INVENTORY	6 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	NOTE 3 INVENTORY (in thousands) As of September 30, 2023 ($) As of March 31, 2023 ($) Raw materials 2,127 2,100 Work-in-Progress 11 18 Finished goods 498 533 Total 2,636 2,651 During the six months ended September 30, 2023, and 2022, the Company wrote off approximately $3 thousand and $40 thousand of inventory due to abnormal loss due to idle facility expense, freight, handling costs, scrap, and wasted material (spoilage). This charge was recorded in Selling, General, and Administrative Expenses. We capitalize inventory costs related to our investigational drug, provided that management determines there is a potential alternative use for the inventory in future research and development projects or other purposes. As of September 30, 2023, and March 31, 2023, our consolidated balance sheet reported approximately $397 thousand and $407 thousand clinical trial-related inventory, respectively.

DEPOSITS AND ADVANCES

DEPOSITS AND ADVANCES	6 Months Ended
	Sep. 30, 2023
Deposits And Advances Abstract
Deposits and Advances [Text Block]	NOTE 4 DEPOSITS AND ADVANCES (in thousands) As of September 30, 2023 ($) As of March 31, 2023 ($) Advances to suppliers and consultants 62 72 Other receivables and deposits 15 24 Prepaid expenses and other current assets 143 262 Total 220 358 The Advances to suppliers and consultants primarily relate to advances to vendors. Prepaid expenses and other current assets include approximately $25 thousand of statutory advances as of September 30, 2023, and March 31, 2023, respectively.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	6 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	NOTE 5 INTANGIBLE ASSETS (in thousands) As of September 30, 2023 ($) As of March 31, 2023 ($) Amortized intangible assets Patents 730 709 Other intangibles 34 34 Accumulated amortization (144 ) (107 ) Total amortized intangible assets 620 636 Other intangible assets Patents 561 534 Other intangibles - - Total unamortized intangible assets 561 534 Total intangible assets 1,181 1,170 The value of intangible assets includes the cost of acquiring patent rights, supporting data, and the expense associated with filing of patent applications. It also includes acquisition costs related to domains and licenses. The intangible with finite life is up to 20 years are amortized on straight-line basis, commencing from the date of grant or acquisition. The amortization expense in the three months ended September 30, 2023, and 2022, amounted to approximately $18 thousand and $14 thousand, respectively, whereas the amortization expense in the six months ended September 30, 2023, and 2022 amounted to approximately $36 thousand and $24 thousand, respectively. The Company regularly reviews its intangible assets to determine if any intangible asset is other-than-temporarily impaired, which would require the Company to record an impairment charge in the period and concluded that, as of September 30, 2023, there was no impairment. Estimated annual amortization expense (in thousands) ($) For the year ended 2025 80 For the year ended 2026 89 For the year ended 2027 97 For the year ended 2028 107 For the year ended 2029 118

PROPERTY, PLANT, AND EQUIPMENT

PROPERTY, PLANT, AND EQUIPMENT	6 Months Ended
	Sep. 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 September 30, 2023 ($) As of March 31, 2023 ($) Land N/A 4,051 4,100 Buildings and facilities 25 2,303 2,298 Plant and machinery 5-20 3,332 3,335 Computer equipment 3 155 138 Office equipment 3-5 99 84 Furniture and fixtures 5 93 92 Vehicles 5 101 102 Total gross value 10,134 10,149 Less: Accumulated depreciation (2,187 ) (1,936 ) Total property, plant, and equipment, net 7,947 8,213 The depreciation expense in the three months ended September 30, 2023, and 2022 amounted to approximately $140 thousand and $156 thousand, respectively. The depreciation expense in the six months ended September 30, 2023, and 2022 amounted to approximately $277 thousand and $308 thousand, respectively. The net decrease in Total property, plant, and equipment is primarily due to depreciation. During the six months ended September 2023, the Company sold a fully depreciated property in India for net proceeds of approximately $43 thousand and accounted the same 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.

CLAIMS AND ADVANCES

CLAIMS AND ADVANCES	6 Months Ended
	Sep. 30, 2023
Disclosure Text Block Supplement [Abstract]
Other Assets Disclosure [Text Block]	NOTE 8 CLAIMS AND ADVANCES (in thousands) As of September 30, 2023 ($) As of March 31, 2023 ($) Claims receivable (1) 947 951 Non-current deposits 26 27 Non-current advances 25 25 Total 998 1,003 (1) The claims receivable is due from different vendors. While the Company has initiated collection proceedings internally or with the appropriate authorities, it believes receiving the amount in the next 12 months will be challenging because of the time required for collection proceedings. It includes $140 thousand owed to the company by one of our manufacturers for the equipment purchase. NOTE 9 LEFT BLANK INTENTIONALLY

ACCRUED AND OTHER LIABILITIES

ACCRUED AND OTHER LIABILITIES	6 Months Ended
	Sep. 30, 2023
Accrued Liabilities Disclosure Abstract
Accrued Liabilities Disclosure [Text Block]	NOTE 10 ACCRUED AND OTHER LIABILITIES (in thousands) As of September 30, 2023 ($) As of March 31, 2023 ($) Compensation and other contributions 749 619 Provision for expenses 378 258 Short-term lease liability 130 133 Other current liability 300 358 Total 1,557 1,368 Compensation and other contribution-related liabilities consist of accrued salaries to employees. In addition, provision for expenses includes provision for legal, professional, and marketing expenses. Other current liability also includes statutory payables of approximately $37 thousand and $31 thousand as of September 30, 2023, and March 31, 2023, respectively, and approximately $3 thousand of short-term loans as of September 30, 2023, and March 31, 2023, respectively.

LOANS AND OTHER LIABILITIES

LOANS AND OTHER LIABILITIES	6 Months Ended
	Sep. 30, 2023
Loans And Other Liabilities Abstract
Loans and Other Liabilities [Text Block]	NOTE 11 LOANS AND OTHER LIABILITIES Loan as of September 30, 2023: On June 11, 2020, the Company received an Economic Injury Disaster Loan (“EIDL”) for approximately $150 thousand at an annual interest rate of 3.75%. The Company must pay principal and interest payments of $731 every month beginning June 5, 2021. The SBA will apply each installment payment first to pay interest accrued to the day the SBA receives the payment and will then apply any remaining balance to reduce the principal. All remaining principal and accrued interest is due and payable 30 years from the date of the loan. For the six months ended September 30, 2023, the interest expense and principal payment for the EIDL were approximately $3 thousand and $2 thousand, respectively. For the six months ended September 30, 2022, the interest expense and principal payment for the EIDL were approximately $2 thousand each. As of September 30, 2023, approximately $139 thousand of the loan is classified as Long-term loans and approximately $3 thousand as Short-term loans. On June 30, 2023, the Company entered into a Master Loan and Security Agreement with O-Bank, CO., LTD. (the “Credit Agreement”), pursuant to which the Company may borrow up to $12 million, which will be used to fulfill liquidity requirements and ensure the Company’s ability to sustain its operations. The Credit Agreement matures June 30, 2024, with an option to renew. Interest on borrowings will be calculated according to the interest rate stated in the Certificate of Deposit (as defined in the Credit Agreement), plus an applicable margin of 1%, and the Company will bear the tax. The Company must pay the interest in full on the last business day of each interest period. As of September 30, 2023, the Company has not yet used any of the $12 million available under the Credit Agreement. Other Liability: (in thousands) As of September 30, 2023 ($) March 31, 2023 ($) Statutory reserve 17 21 Total 17 21 The statutory reserve is a gratuity reserve for employees in our subsidiaries in India.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	NOTE 12 COMMITMENTS AND CONTINGENCIES The Company may be involved in legal proceedings, claims, and assessments arising in the ordinary course of business. Such matters are subject to many uncertainties, and outcomes are not predictable with assurance. There are no such matters that are deemed material to the condensed consolidated financial statements as of September 30, 2023, except as disclosed in the legal proceedings section below. In the U.S., we provide health insurance, life insurance, and a 401(k) plan wherein the Company matches up to 6% of the employee’s pre-tax contribution up to a maximum annual amount determined by the IRS. In accordance with applicable laws of foreign countries, the Company provides for gratuity, a defined benefit retirement plan (“Gratuity Plan”) covering certain categories of employees. The Gratuity Plan provides a lump sum payment to vested employees, at retirement or termination of employment, an amount based on the respective employee’s last drawn salary and the years of employment with the Company. In addition, employees receive benefits from a provident fund, a defined contribution plan. The employee and employer each make monthly contributions to the plan as required by the law. The contribution is made to the Foreign Government’s funds.

SECURITIES

SECURITIES	6 Months Ended
	Sep. 30, 2023
Stockholders' Equity Note [Abstract]
Equity [Text Block]	NOTE 13 SECURITIES As of September 30, 2023, the Company was authorized to issue up to 150,000,000 shares of common stock, par value $0.0001 per share, and 63,706,939 shares of common stock were issued and outstanding. The Company is also authorized to issue up to 1,000,000 shares of preferred stock, par value $0.0001 per share, and no preferred shares were issued and outstanding as of September 30, 2023. Our common stock is listed on the NYSE American (ticker symbol: IGC). This security also trades on the Frankfurt, Stuttgart, and Berlin stock exchanges (ticker symbol: IGS1). The Company also has 91,472 units outstanding that can be separated into common stock. Ten units may be separated into one share of common stock. The unit holders are requested to contact the Company or our transfer agent, Continental Stock Transfer and Trust, to separate their units into common stock. Pursuant to the December 18, 2014, Purchase Agreement with Apogee, we issued Apogee 1.2 million shares of IGC’s common stock valued at $888 thousand for the purchase of a 24.9% ownership interest in Midtown Partners & Co., LLC (MTP). During Fiscal 2018, after considering several factors, the Company concluded that it no longer had significant influence over MTP and maintained the same investment value of approximately $773 thousand. During Fiscal 2020, the Company created a provision for this investment. The Company initiated the litigation on February 8, 2021, against Apogee. During the three months ended September 2023, the court’s ruling on the motion for summary judgment, the parties participated in a mediation where they agreed in principle to a settlement as to all claims against each other. As per the summary judgement, Apogee returned 500 thousand of Company’s shares back and Company cancelled the shares. For more information, kindly refer to Item 1 – Legal Proceedings for more information. On October 27, IGC Pharma, Inc. (the “Company”) entered into a Sales Agreement (the “Agreement”) with A.G.P./Alliance Global Partners (the “Agent”) pursuant to which the Company may offer and sell, from time to time, through the Agent, as sales agent and/or principal, shares of its common stock, par value $0.0001 per share (the “Common Stock”), having an aggregate offering price of up to $60 million (“Shares”), subject to certain limitations on the amount of Common Stock that may be offered and sold by the Company set forth in the Sales Agreement (the “Offering”). Prior to entering into the Sales Agreement with A.G.P./Alliance Global Partners, the Company terminated the Sales Agreement dated January 13, 2021, with The Benchmark Company.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share-Based Payment Arrangement [Text Block]	NOTE 14 STOCK-BASED COMPENSATION As of September 30, 2023, 9 million restricted share units (RSUs), fair valued at $5.7 million with a weighted average value of $0.64 per share, have been granted but not yet issued from different Incentive Plans and Grants. This includes 4.7 million RSUs granted to employees and directors, which consists of a vesting schedule based entirely on the attainment of both operational milestones and market conditions, assuming continued employment either as an employee or director with the Company. The performance-based RSUs are accounted upon certification by Management, confirming the probability of achievement of milestones. As of September 30, 2023, Management confirmed three of the milestones had been achieved, and the rest were considered probable to be achieved by March 31, 2028. Additionally, options held by advisors and directors to purchase 150 thousand shares of common stock fair valued at $69 thousand with a weighted average of $0.46 per share have been granted but are to be exercised over a service period ending in Fiscal 2031. Options exercised before the service period are expensed when exercised. The options are valued using a Black-Scholes Pricing Model and Market based RSUs are valued based on a lattice model, with the following assumptions: Granted in Fiscal 2024 Granted in Fiscal 2023 Expected life of options 5 years 5 years Vested options 100 % 100 % Risk-free interest rate 3.49 % 2.64 % Expected volatility 280 % 285 % Expected dividend yield Nil Nil The expense associated with share-based payments to employees, directors, advisors, and contractors is allocated over the vesting or service period and recognized in the Selling, General, and Administrative expenses (including research and development). For the six months ended September 30, 2023, the Company’s share-based expense and option-based expense shown in Selling, General and Administrative expenses (including research and development) were $901 thousand and $6 thousand, respectively, and for the six months ended September 30, 2022, the Company’s share-based expense and option-based expense was $1.8 million and $17 thousand, respectively. Non-vested shares Shares (in thousands) (#) Weighted average grant date fair value ($) Non-vested shares as of March 31, 2023 4,429 1.01 Granted 4,300 0.26 Vested (197 ) 0.30 Cancelled/forfeited - - Non-vested shares as of September 30, 2023 8,532 0.65 Options Shares (in thousands) (#) Weighted average grant date fair value ($) Weighted average exercise price ($) Options outstanding as of March 31, 2023 150 1.39 0.30 Granted - - - Exercised - - - Cancelled/forfeited - - - Options outstanding as of September 30, 2023 150 1.39 0.30 There was a combined unrecognized expense of $2.7 million related to non-vested shares and share options that the Company expects to be recognized over the weighted average life of 5 years.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	NOTE 15 FAIR VALUE OF FINANCIAL INSTRUMENTS As of September 30, 2023, the Company’s investments may consist of money market funds, debt and equity funds, and other marketable securities, among others, which have been classified as Level 1 of the fair value hierarchy because they have been valued using quoted prices in active markets. The Company’s cash and cash equivalents have also been classified as Level 1 on the same principle. Financial instruments are classified as current if they are expected to be liquidated within the next twelve months. The Certificates of Deposit are classified as Level 2 as they do not have regular market pricing, but their fair value can be determined based on other data values or market prices. The Company’s remaining investments have been classified as Level 3 instruments as there is little or no market data. Level 3 investments are valued using the cost method. The following table presents information about the Company’s assets that are measured at fair value on a recurring basis as of September 30, 2023, and March 31, 2023, and indicates the fair value hierarchy of the valuation techniques the Company used to determine such fair value: (in thousands) As of September 30, 2023 Particular Adjusted Cost ($) Gain ($) Loss ($) Fair Value ($) Cash & Cash Equivalents ($) Short Term Investments ($) Level 1 Cash 939 - - 939 939 - Money Market Fund 1,828 - - 1,828 1,828 - Debt Funds 13 1 - 13 13 - Mutual Fund 153 15 - 168 70 98 Level 2 Certificates of Deposit 176 - - 176 176 - Level 3 - - - - - - TOTAL 3,109 16 3,124 3,026 98 As of March 31, 2023 Particular Adjusted Cost ($) Gain ($) Loss ($) Fair Value ($) Cash & Cash Equivalents ($) Short Term Investments ($) Level 1 Cash 1,156 - - 1,156 1,156 - Money Market Fund 2,000 - - 2,000 2,000 - Debt Funds 40 - - 40 40 - Mutual Fund 152 2 - 154 - 154 Level 2 Certificates of Deposit - - - - - - Level 3 - - - - - - TOTAL 3,348 2 3,350 3,196 154

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	NOTE 16 SEGMENT INFORMATION FASB ASC 280, “ Segment Reporting, The Company’s CODM is the Company’s Chief Executive Officer (CEO). The CEO reviews financial information presented on an operating segment basis for purposes of making operating decisions and assessing financial performance. Therefore, and before our Life Sciences segment started, the Company determined that it operated in a single operating and reportable segment. As of the date of this report and in preparation for the new and different source of revenue, the Company has determined that it operates in two operating and reportable segments, the (a) Infrastructure segment and (b) Life Sciences segment. The Company does not include intercompany transfers between segments for Management reporting purposes. The following provides information required by ASC 280-10-50-38 “Entity-wide Information”: 1) The table below shows revenue reported by segment: (in thousands) Three months ended September 30, 2023 ($) (in thousands) Three months ended September 30, 2022 ($) (in thousands) Six months ended September 30, 2023 ($) (in thousands) Six months ended September 30, 2022 ($) Infrastructure segment - 7 166 17 Life Sciences segment Wellness and lifestyle 69 150 113 230 White labeling services 222 45 567 167 Total 291 202 846 414 For information on revenue by product and service, refer to Note 2, “Summary of Significant Accounting Policies”. 2) The table below shows the revenue attributed to the country of domicile (U.S.) and foreign countries. Revenue is generally attributed to the geographic location of customers: (in thousands) Segments Country Three months ended September 30, 2023 ($) Six months ended September 30, 2023 ($) Asia India - 166 America U.S. 291 680 Total 291 846 (in thousands) Segments Country Three months ended September 30, 2022 ($) Six months ended September 30, 2022 ($) Asia India 7 17 America U.S. 195 397 Total 202 414 3) The table below shows the non-current assets other than financial instruments held in the country of domicile (U.S.) and foreign countries. (in thousands) Nature of assets USA (Country of Domicile) ($) Foreign Countries (India, Hong Kong, and Colombia) ($) Total as of September 30, 2023 ($) Intangible assets, net 1,181 - 1,181 Property, plant, and equipment, net 3,855 4,092 7,947 Claims and advances 588 410 998 Operating lease asset 247 16 263 Total non-current assets 5,871 4,518 10,389 (in thousands) Nature of assets USA (Country of Domicile) ($) Foreign Countries (India, Hong Kong, and Colombia) ($) Total as of March 31, 2023 ($) Intangible assets, net 1,170 - 1,170 Property, plant, and equipment, net 4,074 4,139 8,213 Claims and advances 585 418 1,003 Operating lease asset 298 28 326 Total non-current assets 6,127 4,585 10,712

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE 17 SUBSEQUENT EVENTS ● On October 8, 2023, the European Intellectual Property Office issued a patent (#3193862) to the Company titled “CANNABINOID COMPOSITION AND METHOD FOR TREATING PAIN”. The granted patent introduces a pioneering method for treating pain in humans. Utilizing a cream base infused with a unique blend of cannabinoids, including tetrahydrocannabinol (THC) and cannabidiol (CBD), alongside other compounds, this revolutionary cream or gel is designed for transdermal absorption. It interacts harmoniously with the peripheral nervous and immune systems, delivering effective pain relief without psychotropic or adverse side effects. ● On October 27, IGC Pharma, Inc. (the “Company”) entered into a Sales Agreement (the “Agreement”) with A.G.P./Alliance Global Partners (the “Agent”) pursuant to which the Company may offer and sell, from time to time, through the Agent, as sales agent and/or principal, shares of its common stock, par value $0.0001 per share (the “Common Stock”), having an aggregate offering price of up to $60 million (“Shares”), subject to certain limitations on the amount of Common Stock that may be offered and sold by the Company set forth in the Sales Agreement (the “Offering”). Prior to entering into the Sales Agreement with A.G.P./Alliance Global Partners, the Company terminated the Sales Agreement dated January 13, 2021, with The Benchmark Company.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of presentation The accompanying condensed consolidated Balance Sheet as of September 30, 2023, and March 31, 2023, condensed consolidated statements of operations for the three months and six months ended September 30, 2023, and 2022, and condensed consolidated statements of cash flows for the six months ended September 30, 2023, and 2022, are unaudited. The consolidated balance sheet as of March 31, 2023, has been derived from audited financial statements, and the accompanying as of September 30, 2023 unaudited condensed consolidated financial statements (“interim statements”) of the Company have been prepared in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”) as determined by the Financial Accounting Standards Board (the “FASB”) within its Accounting Standards Codification (“ASC”) and under the rules and regulations of the SEC. Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments and disclosures necessary for a fair presentation of these interim statements have been included. The results reported in these interim statements are not necessarily indicative of the results that may be reported for the entire year. These interim statements should be read in conjunction with the Company’s audited consolidated financial statements for the fiscal year ended March 31, 2023 (“Fiscal 2023”) contained in the Company’s Form 10-K for Fiscal 2023, filed with the SEC on July 7, 2023, specifically in Note 2 to the consolidated financial statements.
Consolidation, Policy [Policy Text Block]	Principles of consolidation The interim statements include the consolidated accounts of the Company and its subsidiaries. Intercompany accounts and transactions have been eliminated. In the opinion of Management, the interim statements reflect all adjustments, which are normal and recurring in nature, necessary for fair financial statement presentation. Transactions between the Company and its subsidiaries are eliminated in the consolidated financial statements.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Presentation and functional currencies The Company operates in India, the U.S., Colombia, and Hong Kong, and a portion of the Company’s financials are denominated in the Indian Rupee (“INR”), the Hong Kong Dollar (“HKD”), or the Colombian Peso (“COP”). As a result, changes in the relative values of the U.S. Dollar (“USD”), the INR, the HKD, or the COP affect our financial statements. The accompanying financial statements are reported in USD. INR, HKD, and COP are the functional currencies for certain subsidiaries of the Company. The translation of the functional currencies into USD is performed for assets and liabilities using the exchange rates in effect at the balance sheet date and for revenues 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 (loss), a separate component of shareholders’ equity. Transactions in currencies other than the functional currency during the year are converted into the functional currency at the applicable rates of exchange prevailing when the transactions occurred. Transaction gains and losses are recognized in the consolidated statements of operations.
Going Concern, Policy [Policy Textblock}	Going Concern The Company assesses and determines its ability to continue as a going concern in accordance with the provisions of ASC Subtopic 205-40, “ Presentation of Financial Statements Going Concern The Company is currently in a clinical trial stage and, thus, has not yet achieved profitability. The Company expects to continue to incur significant operating and net losses and negative cash flows from operations in the near future. The Company estimates that its current cash and cash equivalents balance with working capital credit facility and equity investment is sufficient to support operations beyond the twelve months following the date these consolidated financial statements and footnotes were issued. These estimates are based on assumptions that may prove to be wrong, and the Company could use its available capital resources sooner than it currently expects.
Accounts Receivable [Policy Text Block]	Accounts receivable We make estimates of the collectability of our accounts receivable by analyzing historical payment patterns, customer concentrations, customer creditworthiness, and current economic trends. If the financial condition of a customer deteriorates, additional allowances may be required. We had $137 thousand of accounts receivable, net of provision for the doubtful debt of $12 thousand as of September 30, 2023, as compared to $107 thousand of accounts receivable, net of provision for the doubtful debt of $17 thousand as of March 31, 2023.
Earnings Per Share, Policy [Policy Text Block]	Loss per share The computation of basic loss per share for the six months ended September 30, 2023, excludes potentially dilutive securities of approximately 9 million shares, which includes share options, unvested shares such as restricted shares and restricted share units, granted to employees, non-employees, and advisors, and shares from the conversion of outstanding units, if any because their inclusion would be anti-dilutive. The weighted average number of shares outstanding for the six months ended September 30, 2023, and 2022, used for the computation of basic earnings per share (“EPS”) is 53,695,912 and 52,082,096, respectively, as compared to 54,301,087 and 52,194,098 for the three months ended September 30, 2023, and 2022, respectively. Due to the loss incurred by the Company during the six months ended September 30, 2023, and 2022, all the potential equity shares are anti-dilutive, and accordingly, the fully diluted EPS is equal to the basic EPS.
Cybersecurity Policy [Text Block]	Cybersecurity We have a cybersecurity policy in place and have taken cybersecurity measures to safeguard against hackers, however, there can be no assurance thereof. During the six months ended September 30, 2023, there were no impactful breaches in cybersecurity.
Revenue [Policy Text Block]	Revenue Recognition The Company recognizes revenue under ASC 606, Revenue from Contracts with Customers ASC 606 prescribes a 5-step process to achieve its core principle. The Company recognizes revenue from trading, rental, or product sales as follows: I. Identify the contract with the customer. II. Identify the contractual performance obligations. III. Determine the amount of consideration/price for the transaction. IV. Allocate the determined amount of consideration/price to the performance obligations. V. Recognize revenue when or as the performing party satisfies performance obligations. The consideration/price for the transaction (performance obligation(s)) is determined as per the agreement or invoice (contract) for the services and products in the Infrastructure and Life Sciences segment. Revenue in the Infrastructure segment is recognized for the renting business when the equipment is rented, and the terms of the agreement have been fulfilled during the period. Revenue from the execution of infrastructure contracts is recognized based on the output method as and when part of the performance obligation has been completed, and approval from the contracting agency has been obtained after survey of the performance completion as of that date. In the Life Sciences segment, the revenue from the wellness and lifestyle business is recognized once goods have been sold to the customer and the performance obligation has been completed. In retail sales, we offer consumer products through our online stores. Revenue is recognized when control of the goods is transferred to the customer. This generally occurs upon our delivery to a third-party carrier or to the customer directly. Revenue from white label services is recognized when the performance obligation has been completed, and output material has been transferred to the customer. Net sales disaggregated by significant products and services for the three months and six months ended September 30, 2023, and 2022 are as follows: (in thousands) Three months ended September 30, 2023 ($) (in thousands) Three months ended September 30, 2022 ($) (in thousands) Six months ended September 30, 2023 ($) (in thousands) Six months ended September 30, 2022 ($) Infrastructure segment - 7 166 17 Life Sciences segment Wellness and lifestyle (2) 69 150 113 230 White labeling services (3) 222 45 567 167 Total 291 202 846 414 (1) Infrastructure segment consists of income from the rental of heavy construction equipment and construction contracts. (2) Revenue from wellness and lifestyle consists of the sale of products such as gummies, hand sanitizers, bath bombs, lotions, beverages, hemp crude extract, hemp isolate, and hemp distillate. (3) Revenue from white label services consists of rebranding our formulations or the customer’s products as per the customer’s requirement.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently issued accounting pronouncements Changes to U.S. GAAP are established by the Financial Accounting Standards Board (FASB) in the form of accounting standards updates (ASUs) to the FASB’s Accounting Standards Codification. The Company considers the applicability and impact of all ASUs. Newly issued ASUs not listed are expected to have no impact on the Company’s consolidated financial position and results of operations, because either the ASU is not applicable, or the impact is expected to be immaterial.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Disaggregation of Revenue [Table Text Block]	Net sales disaggregated by significant products and services for the three months and six months ended September 30, 2023, and 2022 are as follows: (in thousands) Three months ended September 30, 2023 ($) (in thousands) Three months ended September 30, 2022 ($) (in thousands) Six months ended September 30, 2023 ($) (in thousands) Six months ended September 30, 2022 ($) Infrastructure segment - 7 166 17 Life Sciences segment Wellness and lifestyle (2) 69 150 113 230 White labeling services (3) 222 45 567 167 Total 291 202 846 414 (1) Infrastructure segment consists of income from the rental of heavy construction equipment and construction contracts. (2) Revenue from wellness and lifestyle consists of the sale of products such as gummies, hand sanitizers, bath bombs, lotions, beverages, hemp crude extract, hemp isolate, and hemp distillate. (3) Revenue from white label services consists of rebranding our formulations or the customer’s products as per the customer’s requirement.

INVENTORY (Tables)

INVENTORY (Tables)	6 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	(in thousands) As of September 30, 2023 ($) As of March 31, 2023 ($) Raw materials 2,127 2,100 Work-in-Progress 11 18 Finished goods 498 533 Total 2,636 2,651

DEPOSITS AND ADVANCES (Tables)

DEPOSITS AND ADVANCES (Tables)	6 Months Ended
	Sep. 30, 2023
Deposits And Advances Abstract
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]	(in thousands) As of September 30, 2023 ($) As of March 31, 2023 ($) Advances to suppliers and consultants 62 72 Other receivables and deposits 15 24 Prepaid expenses and other current assets 143 262 Total 220 358

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	6 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill [Table Text Block]	(in thousands) As of September 30, 2023 ($) As of March 31, 2023 ($) Amortized intangible assets Patents 730 709 Other intangibles 34 34 Accumulated amortization (144 ) (107 ) Total amortized intangible assets 620 636 Other intangible assets Patents 561 534 Other intangibles - - Total unamortized intangible assets 561 534 Total intangible assets 1,181 1,170
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Estimated annual amortization expense (in thousands) ($) For the year ended 2025 80 For the year ended 2026 89 For the year ended 2027 97 For the year ended 2028 107 For the year ended 2029 118

PROPERTY, PLANT, AND EQUIPMENT

PROPERTY, PLANT, AND EQUIPMENT (Tables)	6 Months Ended
	Sep. 30, 2023
Property Plant and Equipment Table [Member]
PROPERTY, PLANT, AND EQUIPMENT (Tables) [Line Items]
Property, Plant and Equipment [Table Text Block]	(in thousands, except useful life) Useful Life (years) As of September 30, 2023 ($) As of March 31, 2023 ($) Land N/A 4,051 4,100 Buildings and facilities 25 2,303 2,298 Plant and machinery 5-20 3,332 3,335 Computer equipment 3 155 138 Office equipment 3-5 99 84 Furniture and fixtures 5 93 92 Vehicles 5 101 102 Total gross value 10,134 10,149 Less: Accumulated depreciation (2,187 ) (1,936 ) Total property, plant, and equipment, net 7,947 8,213

CLAIMS AND ADVANCES (Tables)

CLAIMS AND ADVANCES (Tables)	6 Months Ended
	Sep. 30, 2023
Disclosure Text Block Supplement [Abstract]
Schedule of Other Assets, Noncurrent [Table Text Block]	(in thousands) As of September 30, 2023 ($) As of March 31, 2023 ($) Claims receivable (1) 947 951 Non-current deposits 26 27 Non-current advances 25 25 Total 998 1,003 (1) The claims receivable is due from different vendors. While the Company has initiated collection proceedings internally or with the appropriate authorities, it believes receiving the amount in the next 12 months will be challenging because of the time required for collection proceedings. It includes $140 thousand owed to the company by one of our manufacturers for the equipment purchase.

ACCRUED AND OTHER LIABILITIES (

ACCRUED AND OTHER LIABILITIES (Tables)	6 Months Ended
	Sep. 30, 2023
Accrued Liabilities Disclosure Abstract
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	(in thousands) As of September 30, 2023 ($) As of March 31, 2023 ($) Compensation and other contributions 749 619 Provision for expenses 378 258 Short-term lease liability 130 133 Other current liability 300 358 Total 1,557 1,368

LOANS AND OTHER LIABILITIES (Ta

LOANS AND OTHER LIABILITIES (Tables)	6 Months Ended
	Sep. 30, 2023
Loans And Other Liabilities Abstract
Schedule of Other Assets and Other Liabilities [Table Text Block]	Other Liability: (in thousands) As of September 30, 2023 ($) March 31, 2023 ($) Statutory reserve 17 21 Total 17 21

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The options are valued using a Black-Scholes Pricing Model and Market based RSUs are valued based on a lattice model, with the following assumptions: Granted in Fiscal 2024 Granted in Fiscal 2023 Expected life of options 5 years 5 years Vested options 100 % 100 % Risk-free interest rate 3.49 % 2.64 % Expected volatility 280 % 285 % Expected dividend yield Nil Nil
Nonvested Restricted Stock Shares Activity [Table Text Block]	The expense associated with share-based payments to employees, directors, advisors, and contractors is allocated over the vesting or service period and recognized in the Selling, General, and Administrative expenses (including research and development). For the six months ended September 30, 2023, the Company’s share-based expense and option-based expense shown in Selling, General and Administrative expenses (including research and development) were $901 thousand and $6 thousand, respectively, and for the six months ended September 30, 2022, the Company’s share-based expense and option-based expense was $1.8 million and $17 thousand, respectively. Non-vested shares Shares (in thousands) (#) Weighted average grant date fair value ($) Non-vested shares as of March 31, 2023 4,429 1.01 Granted 4,300 0.26 Vested (197 ) 0.30 Cancelled/forfeited - - Non-vested shares as of September 30, 2023 8,532 0.65
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Options Shares (in thousands) (#) Weighted average grant date fair value ($) Weighted average exercise price ($) Options outstanding as of March 31, 2023 150 1.39 0.30 Granted - - - Exercised - - - Cancelled/forfeited - - - Options outstanding as of September 30, 2023 150 1.39 0.30

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The following table presents information about the Company’s assets that are measured at fair value on a recurring basis as of September 30, 2023, and March 31, 2023, and indicates the fair value hierarchy of the valuation techniques the Company used to determine such fair value: Particular Adjusted Cost ($) Gain ($) Loss ($) Fair Value ($) Cash & Cash Equivalents ($) Short Term Investments ($) Level 1 Cash 939 - - 939 939 - Money Market Fund 1,828 - - 1,828 1,828 - Debt Funds 13 1 - 13 13 - Mutual Fund 153 15 - 168 70 98 Level 2 Certificates of Deposit 176 - - 176 176 - Level 3 - - - - - - TOTAL 3,109 16 3,124 3,026 98 Particular Adjusted Cost ($) Gain ($) Loss ($) Fair Value ($) Cash & Cash Equivalents ($) Short Term Investments ($) Level 1 Cash 1,156 - - 1,156 1,156 - Money Market Fund 2,000 - - 2,000 2,000 - Debt Funds 40 - - 40 40 - Mutual Fund 152 2 - 154 - 154 Level 2 Certificates of Deposit - - - - - - Level 3 - - - - - - TOTAL 3,348 2 3,350 3,196 154

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Revenue from External Customers by Products and Services [Table Text Block]	1) The table below shows revenue reported by segment: (in thousands) Three months ended September 30, 2023 ($) (in thousands) Three months ended September 30, 2022 ($) (in thousands) Six months ended September 30, 2023 ($) (in thousands) Six months ended September 30, 2022 ($) Infrastructure segment - 7 166 17 Life Sciences segment Wellness and lifestyle 69 150 113 230 White labeling services 222 45 567 167 Total 291 202 846 414
Revenue from External Customers by Geographic Areas [Table Text Block]	2) The table below shows the revenue attributed to the country of domicile (U.S.) and foreign countries. Revenue is generally attributed to the geographic location of customers: (in thousands) Segments Country Three months ended September 30, 2023 ($) Six months ended September 30, 2023 ($) Asia India - 166 America U.S. 291 680 Total 291 846 (in thousands) Segments Country Three months ended September 30, 2022 ($) Six months ended September 30, 2022 ($) Asia India 7 17 America U.S. 195 397 Total 202 414
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	3) The table below shows the non-current assets other than financial instruments held in the country of domicile (U.S.) and foreign countries. (in thousands) Nature of assets USA (Country of Domicile) ($) Foreign Countries (India, Hong Kong, and Colombia) ($) Total as of September 30, 2023 ($) Intangible assets, net 1,181 - 1,181 Property, plant, and equipment, net 3,855 4,092 7,947 Claims and advances 588 410 998 Operating lease asset 247 16 263 Total non-current assets 5,871 4,518 10,389 (in thousands) Nature of assets USA (Country of Domicile) ($) Foreign Countries (India, Hong Kong, and Colombia) ($) Total as of March 31, 2023 ($) Intangible assets, net 1,170 - 1,170 Property, plant, and equipment, net 4,074 4,139 8,213 Claims and advances 585 418 1,003 Operating lease asset 298 28 326 Total non-current assets 6,127 4,585 10,712

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2023
Accounting Policies [Abstract]
Accounts Receivable, after Allowance for Credit Loss	$ 137		$ 137		$ 107
Accounts Receivable, Allowance for Credit Loss	$ 12		$ 12		$ 17
Weighted Average Number of Shares Outstanding, Basic	54,301,087	52,194,098	53,695,912	52,082,096

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Disaggregation of Revenue - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenues		$ 291	$ 202	$ 846	$ 414
Infrastructure Segment [Member]
Disaggregation of Revenue [Line Items]
Revenues	[1]	0	7	166	17
Wellness and Lifestyle [Member]
Disaggregation of Revenue [Line Items]
Revenues	[2]	69	150	113	230
White Labeling Services [Member]
Disaggregation of Revenue [Line Items]
Revenues	[3]	$ 222	$ 45	$ 567	$ 167
[1]Infrastructure segment consists of income from the rental of heavy construction equipment and construction contracts.[2]Revenue from wellness and lifestyle consists of the sale of products such as gummies, hand sanitizers, bath bombs, lotions, beverages, hemp crude extract, hemp isolate, and hemp distillate.[3]Revenue from white label services consists of rebranding our formulations or the customer’s products as per the customer’s requirement.

INVENTORY (Details)

INVENTORY (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2023
INVENTORY (Details) [Line Items]
Inventory Write-down	$ 3	$ 40
Inventory, Net	2,636		$ 2,651
Clinical Trial Inventory [Member]
INVENTORY (Details) [Line Items]
Inventory, Net	$ 397		$ 407

INVENTORY (Details) - Schedule

INVENTORY (Details) - Schedule of Inventory, Current - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
Schedule Of Inventory Current Abstract
Raw materials	$ 2,127	$ 2,100
Work-in-Progress	11	18
Finished goods	498	533
Total	$ 2,636	$ 2,651

DEPOSITS AND ADVANCES (Details)

DEPOSITS AND ADVANCES (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
Deposits And Advances Abstract
Statutory Advances	$ 25	$ 25

DEPOSITS AND ADVANCES (Detail_2

DEPOSITS AND ADVANCES (Details) - Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Advances to suppliers and consultants	$ 62	$ 72
Other receivables and deposits	15	24
Prepaid expenses and other current assets	143	262
Total	$ 220	$ 358

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
INTANGIBLE ASSETS (Details) [Line Items]
Amortization of Intangible Assets	$ 18	$ 14	$ 36	$ 24
Patents [Member]
INTANGIBLE ASSETS (Details) [Line Items]
Finite-Lived Intangible Asset, Useful Life	20 years		20 years

INTANGIBLE ASSETS (Details) - S

INTANGIBLE ASSETS (Details) - Schedule of Intangible Assets And Goodwill - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
Amortized intangible assets
Accumulated amortization	$ (144)	$ (107)
Total amortized intangible assets	620	636
Other intangible assets
Unamortized intangible assets	561	534
Total intangible assets	1,181	1,170
Patents [Member]
Other intangible assets
Unamortized intangible assets	561	534
Trademarks [Member]
Other intangible assets
Unamortized intangible assets	0	0
Patents [Member]
Amortized intangible assets
Intangibles	730	709
Other Intangible Assets [Member]
Amortized intangible assets
Intangibles	$ 34	$ 34

INTANGIBLE ASSETS (Details) -_2

INTANGIBLE ASSETS (Details) - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense $ in Thousands	Sep. 30, 2023 USD ($)
Schedule Of Finite Lived Intangible Assets Future Amortization Expense Abstract
For the year ended 2025	$ 80
For the year ended 2026	89
For the year ended 2027	97
For the year ended 2028	107
For the year ended 2029	$ 118

PROPERTY, PLANT, AND EQUIPMEN_2

PROPERTY, PLANT, AND EQUIPMENT (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
PROPERTY, PLANT, AND EQUIPMENT (Details) [Line Items]
Depreciation	$ 140	$ 156	$ 277	$ 308
Proceeds from Sale of Property, Plant, and Equipment			42	$ 0
PUERTO RICO
PROPERTY, PLANT, AND EQUIPMENT (Details) [Line Items]
Proceeds from Sale of Property, Plant, and Equipment			43
Gain (Loss) on Disposition of Property Plant Equipment			$ 43

PROPERTY, PLANT, AND EQUIPMEN_3

PROPERTY, PLANT, AND EQUIPMENT (Details) - Property, Plant and Equipment - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 10,134	$ 10,149
Less: Accumulated depreciation	(2,187)	(1,936)
Net Assets	$ 7,947	8,213
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	N/A
Property, plant and equipment, gross	$ 4,051	4,100
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 2,303	2,298
Property, plant and equipment, useful life	25 years
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 3,332	3,335
Machinery and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Machinery and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	20 years
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 155	138
Property, plant and equipment, useful life	3 years
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 99	84
Office Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Office Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 93	92
Property, plant and equipment, useful life	5 years
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 101	$ 102
Property, plant and equipment, useful life	5 years

CLAIMS AND ADVANCES (Details)

CLAIMS AND ADVANCES (Details) $ in Thousands	6 Months Ended
	Sep. 30, 2023 USD ($)
Disclosure Text Block Supplement [Abstract]
Payments for Deposits	$ 140

CLAIMS AND ADVANCES (Details) -

CLAIMS AND ADVANCES (Details) - Schedule of Other Assets, Noncurrent - USD ($) $ in Thousands		Sep. 30, 2023	Mar. 31, 2023
Schedule Of Other Assets Noncurrent Abstract
Claims receivable	[1]	$ 947	$ 951
Non-current deposits		26	27
Non-current advances		25	25
Total		$ 998	$ 1,003
[1]The claims receivable is due from different vendors. While the Company has initiated collection proceedings internally or with the appropriate authorities, it believes receiving the amount in the next 12 months will be challenging because of the time required for collection proceedings. It includes $140 thousand owed to the company by one of our manufacturers for the equipment purchase.

ACCRUED AND OTHER LIABILITIES_2

ACCRUED AND OTHER LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
Accrued Liabilities Disclosure Abstract
Accounts Payable, Other, Current	$ 37	$ 31
Short-Term Debt	$ 3	$ 3

ACCRUED AND OTHER LIABILITIES_3

ACCRUED AND OTHER LIABILITIES (Details) - Schedule of Accounts Payable and Accrued Liabilities - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
Schedule Of Accounts Payable And Accrued Liabilities Abstract
Compensation and other contributions	$ 749	$ 619
Provision for expenses	378	258
Short-term lease liability	130	133
Other current liability	300	358
Total	$ 1,557	$ 1,368

LOANS AND OTHER LIABILITIES (De

LOANS AND OTHER LIABILITIES (Details) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
	Jun. 11, 2020	Jun. 30, 2023	Sep. 30, 2023	Sep. 30, 2022
Loans And Other Liabilities Abstract
Debt Instrument, Face Amount	$ 150
Debt Instrument, Interest Rate, Stated Percentage	3.75%
Debt Instrument, Periodic Payment	$ 731
Debt Instrument, Term	30 years
Interest Expense, Debt			$ 3	$ 2
Repayments of Debt			2
Loans Payable, Noncurrent			139
Loans Payable, Current			3
Line of Credit Facility, Maximum Borrowing Capacity		$ 12,000
Debt Instrument, Basis Spread on Variable Rate		1%
Line of Credit Facility, Remaining Borrowing Capacity			$ 12,000

LOANS AND OTHER LIABILITIES (_2

LOANS AND OTHER LIABILITIES (Details) - Schedule of Loans and Other Liabilities - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
Schedule Of Loans And Other Liabilities Abstract
Statutory reserve	$ 17	$ 21
Total	$ 17	$ 21

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)	6 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	6%

SECURITIES (Details)

SECURITIES (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
	Dec. 18, 2018	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Oct. 27, 2023	Mar. 31, 2023
SECURITIES (Details) [Line Items]
Common Stock, Shares Authorized		150,000,000		150,000,000			150,000,000
Common Stock, Par or Stated Value Per Share (in Dollars per share)		$ 0.0001		$ 0.0001		$ 0.0001	$ 0.0001
Common Stock, Shares, Issued		63,706,939		63,706,939			53,077,436
Preferred Stock, Shares Authorized		1,000,000		1,000,000			1,000,000
Preferred Stock, Par or Stated Value Per Share (in Dollars per share)		$ 0.0001		$ 0.0001			$ 0.0001
Preferred Stock, Shares Issued		0		0			0
Preferred Stock, Shares Outstanding		0		0			0
Units Outstanding				91,472
Unit, description				Ten units may be separated into one share of common stock.
Stock Issued During Period, Shares, New Issues	1,200,000
Stock Issued During Period, Value, New Issues (in Dollars)	$ 888	$ 2,860	$ 104	$ 2,860	$ 104
Investment Owned, Fair Value (in Dollars)	$ 773
Shares returned	500,000
Sales Agreement, Offering, Maximum (in Dollars)						$ 60,000
Midtown Partners & Co. [Member]
SECURITIES (Details) [Line Items]
Equity Method Investment, Ownership Percentage	24.90%

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2023
STOCK-BASED COMPENSATION (Details) [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in Shares)	150		150
Employee Stock Ownership Plan (ESOP), Number of Committed-to-be-Released Shares (in Shares)	5,700
Weighted Average Price per Share (in Dollars per share)	$ 0.64
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in Shares)	4,700
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in Shares)	0
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Dollars per share)	$ 0.3
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 2,700
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period	5 years
ESOP 2008 Omnibus Plan [Member]
STOCK-BASED COMPENSATION (Details) [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in Shares)	9,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in Shares)	150
Share-Based Payment Arrangement, Noncash Expense	$ 69
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Dollars per share)	$ 0.46
General and Administrative Expense [Member]
STOCK-BASED COMPENSATION (Details) [Line Items]
Share-Based Payment Arrangement, Noncash Expense	$ 901	$ 1,800
Share-Based Payment Arrangement, Option [Member] | General and Administrative Expense [Member]
STOCK-BASED COMPENSATION (Details) [Line Items]
Share-Based Payment Arrangement, Noncash Expense	$ 6	$ 17

STOCK-BASED COMPENSATION (Deta

STOCK-BASED COMPENSATION (Details) - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions Abstract
Expected life of options	5 years	5 years
Vested options	100%	100%
Risk free interest rate	3.49%	2.64%
Expected volatility	280%	285%
Expected dividend yield

STOCK-BASED COMPENSATION (De_2

STOCK-BASED COMPENSATION (Details) - Nonvested Restricted Stock Shares Activity shares in Thousands	6 Months Ended
	Sep. 30, 2023 $ / shares shares
Nonvested Restricted Stock Shares Activity Abstract
Balance, non-vested shares | shares	4,429
Balance, Weighted average grant date fair value | $ / shares	$ 1.01
Granted, shares | shares	4,300
Granted, Weighted average grant date fair value | $ / shares	$ 0.26
Vested, shares | shares	(197)
Vested, Weighted average grant date fair value | $ / shares	$ 0.3
Cancelled/Forfeited, shares | shares	0
Cancelled/Forfeited, Weighted average grant date fair value | $ / shares	$ 0
Balance, non-vested shares | shares	8,532
Balance, Weighted average grant date fair value | $ / shares	$ 0.65

STOCK-BASED COMPENSATION (De_3

STOCK-BASED COMPENSATION (Details) - Share-based Payment Arrangement, Option, Activity shares in Thousands	6 Months Ended
	Sep. 30, 2023 $ / shares shares
Share Based Payment Arrangement Option Activity Abstract
Options outstanding, shares (in Shares) | shares	150
Options outstanding, Weighted average grant date fair value	$ 1.39
Options outstanding, Weighted average exercise price	$ 0.3
Granted, shares (in Shares) | shares	0
Granted, Weighted average grant date fair value	$ 0
Granted, Weighted average exercise price	$ 0
Exercised, shares (in Shares) | shares	0
Exercised, Weighted average grant date fair value	$ 0
Exercised, Weighted average exercise price	$ 0
Cancelled/Forfeited, shares (in Shares) | shares	0
Cancelled/Forfeited, Weighted average grant date fair value	$ 0
Cancelled/Forfeited, Weighted average exercise price	$ 0
Options outstanding, shares (in Shares) | shares	150

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Level 1
Adjusted Cost	$ 3,109	$ 3,348
Gain	16	2
Loss	0	0
Fair Value	3,124	3,350
Short Term Investments	98	154
Cash & Cash Equivalents	3,026	3,196
Fair Value, Inputs, Level 1 [Member] | Cash and Cash Equivalents [Member]
Level 1
Adjusted Cost	939	1,156
Gain	0	0
Loss	0	0
Fair Value	939	1,156
Short Term Investments	0	0
Cash & Cash Equivalents	939	1,156
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member]
Level 1
Adjusted Cost	1,828	2,000
Gain	0	0
Loss	0	0
Fair Value	1,828	2,000
Short Term Investments	0	0
Cash & Cash Equivalents	1,828	2,000
Fair Value, Inputs, Level 1 [Member] | Debt Funds [Member]
Level 1
Adjusted Cost	13	40
Gain	1	0
Loss	0	0
Fair Value	13	40
Short Term Investments	0	0
Cash & Cash Equivalents	13	40
Fair Value, Inputs, Level 1 [Member] | Mutual Fund [Member]
Level 1
Adjusted Cost	153	152
Gain	15	2
Loss	0	0
Fair Value	168	154
Short Term Investments	98	154
Cash & Cash Equivalents	70	0
Fair Value, Inputs, Level 2 [Member] | Certificates of Deposit [Member]
Level 1
Adjusted Cost	176	0
Gain	0	0
Loss	0	0
Fair Value	176	0
Short Term Investments	0	0
Cash & Cash Equivalents	176	0
Fair Value, Inputs, Level 3 [Member]
Level 1
Adjusted Cost	0	0
Gain	0	0
Loss	0	0
Fair Value	0	0
Short Term Investments	0	0
Cash & Cash Equivalents	$ 0	$ 0

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details)	6 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Number of Operating Segments	2
Number of Reportable Segments	2

SEGMENT INFORMATION (Details) -

SEGMENT INFORMATION (Details) - Revenue from External Customers by Products and Services - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue from External Customer [Line Items]
Revenue		$ 291	$ 202	$ 846	$ 414
Legacy Infrastructure [Member]
Revenue from External Customer [Line Items]
Revenue		0	7	166	17
Wellness and Lifestyle [Member]
Revenue from External Customer [Line Items]
Revenue	[1]	69	150	113	230
White Labeling Services [Member]
Revenue from External Customer [Line Items]
Revenue	[2]	$ 222	$ 45	$ 567	$ 167
[1]Revenue from wellness and lifestyle consists of the sale of products such as gummies, hand sanitizers, bath bombs, lotions, beverages, hemp crude extract, hemp isolate, and hemp distillate.[2]Revenue from white label services consists of rebranding our formulations or the customer’s products as per the customer’s requirement.

SEGMENT INFORMATION (Details)_2

SEGMENT INFORMATION (Details) - Revenue from External Customers by Geographic Areas - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
SEGMENT INFORMATION (Details) - Revenue from External Customers by Geographic Areas [Line Items]
Total Revenue	$ 291	$ 202	$ 846	$ 414
INDIA
SEGMENT INFORMATION (Details) - Revenue from External Customers by Geographic Areas [Line Items]
Total Revenue	0	7	166	17
UNITED STATES
SEGMENT INFORMATION (Details) - Revenue from External Customers by Geographic Areas [Line Items]
Total Revenue	$ 291	$ 195	$ 680	$ 397

SEGMENT INFORMATION (Details)_3

SEGMENT INFORMATION (Details) - Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Intangible assets, net	$ 1,181	$ 1,170
Property, plant and equipment, net	7,947	8,213
Claims and advances	998	1,003
Operating lease asset	263	326
Total non-current assets	10,389	10,712
Geographic Distribution, Domestic [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Intangible assets, net	1,181	1,170
Property, plant and equipment, net	3,855	4,074
Claims and advances	588	585
Operating lease asset	247	298
Total non-current assets	5,871	6,127
Geographic Distribution, Foreign [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Intangible assets, net	0	0
Property, plant and equipment, net	4,092	4,139
Claims and advances	410	418
Operating lease asset	16	28
Total non-current assets	$ 4,518	$ 4,585

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Sales Agreement [Member] - Subsequent Event [Member] $ / shares in Units, $ in Millions	Oct. 27, 2023 USD ($) $ / shares
SUBSEQUENT EVENTS (Details) [Line Items]
Common Stock, Par or Stated Value Per Share | $ / shares	$ 0.0001
Aggregate offering price | $	$ 60