v3.25.1
Leases (Tables)
 9 Months Ended 12 Months Ended
Dec. 31, 2024
Mar. 31, 2024
Leases [Abstract]    
Schedule of Lease Expense
The components of lease expense were as follows:                
                 
(In USD)  Three months ended
December 31,		   Nine months ended
December 31,		 
Period ended  2024   2023   2024   2023 
Finance lease cost:                
Amortization of right-of-use assets  $
-
   $
-
   $
-
   $
-
 
Interest on lease liabilities   180,841    152,659    448,050    469,140 
Operating lease cost   85,570    127,399    280,140    387,681 
Short term lease cost   328,932    43,691    501,855    123,364 
Total lease cost  $595,343   $323,749   $1,230,045   $980,185 

The components of lease expense were as follows:

Period ended  March 31,
2024		   March 31,
2023		 
Finance lease cost:        
Amortization of right-of-use assets  $-   $3,298 
Interest on lease liabilities   625,523    844,424 
Operating lease cost   516,219    540,908 
Short term lease cost   423,693    181,337 
Total lease cost   1,565,435    1,569,967 
Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases was as follows:

 

(In USD)
For the Nine months ended		  December 31,
2024		   December 31,
2023		 
Cash paid for amounts included in the measurement of lease liabilities:        
Operating cash outflows for operating leases  $259,503   $341,981 
Financing cash outflows for finance leases       $1,603,626   $816,744 
           
Right-of-use assets obtained in exchange for lease obligations:          
Operating leases  $
-
   $
-
 
Finance leases   $
-
   $
-
 

Supplemental cash flow information related to leases was as follows:  

Period ended  March 31,
2024		   March 31,
2023		 
Cash paid for amounts included in the measurement of lease liabilities:        
Operating cash outflows for operating leases  $(441,843)  $(485,453)
Financing cash outflows for finance leases   (526,959)   (1,618,551)
Right-of-use assets obtained in exchange for lease obligations:          
Operating leases   -    1,575,468 
Finance leases   -    - 
Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases was as follows:

 

(In USD)
As at		  December 31,
2024		   March 31,
2024		 
Operating Leases        
Operating lease right-of-use assets  $1,067,777   $1,290,608 
           
Current operating lease liabilities  $312,491   $365,542 
Non-current operating lease liabilities   847,700    1,009,681 
Total operating lease liabilities   $1,160,191   $1,375,223 
           
Finance Leases          
           
Property and equipment, at cost  $5,768,936   $5,923,555 
Accumulated depreciation   (4,009,932)   (4,117,406)
Accumulated impairment   (1,759,004)   (1,806,149)
Property and equipment, net   $
-
   $
-
 
           
Current finance lease liabilities  $4,015,692   $5,738,239 
Non-current finance lease liabilities   
-
    
-
 
Total finance lease liabilities   $4,015,692   $5,738,239 
           
Weighted Average Remaining Lease Term          
Operating leases   51 months    58 months 
Finance leases   21 months    30 months 
Weighted Average Discount Rate          
Operating leases   13.00%   13.00%
Finance leases   21.00%   9.00%

Supplemental balance sheet information related to leases was as follows: 

Period ended  March 31, 2024   March 31, 2023 
Operating Leases        
Operating lease right-of-use assets  $1,290,608   $1,694,201 
           
Current operating lease liabilities  $365,542   $466,669 
Non current operating lease liabilities   1,009,681    1,284,755 
Total operating lease liabilities   1,375,223    1,751,424 
           
Finance Leases          
           
Property and equipment, at cost  $5,923,555   $6,012,559 
Accumulated depreciation   (4,117,406)   (4,179,272)
Accumulated impairment   (1,806,149)   (1,833,287)
Property and equipment, net   -    - 
           
Current finance lease liabilities  $5,738,239   $1,257,423 
Non current finance lease liabilities   -    5,098,262 
Total finance lease liabilities   5,738,239    6,355,685 
           
Weighted Average Remaining Lease Term          
Operating leases   58 months    63 months 
Finance leases   30 months    41 months 
Weighted Average Discount Rate          
Operating leases   13.00%   13.00%
Finance leases   9.00%   10.00%
Schedule of Maturities of Lease Liabilities

The Company determines the incremental borrowing rate by adjusting the benchmark reference rates, with appropriate financing spreads applicable to the respective geographies where the leases were entered and lease specific adjustments for the effects of collateral.

 

    December 31, 2024     March 31, 2024  
    Operating Leases     Finance Leases     Operating Leases     Finance Leases  
Maturities of lease liabilities are as follows:                        
2025   $ 80,245     $ 4,817,953     $ 392,443     $ 6,475,668  
2026     336,564       73,401       345,584       -  
2027     352,926        -       362,385       -  
2028     370,106       -       380,025       -  
2029     388,144       -       398,548       -  
Total Lease Payments   $ 1,527,985     $ 4,891,354       $ 1,878,985     $ 6,475,668  
Less : Imputed Interest     367,794       875,662       503,762       737,429  
Total Lease Liabilities   $ 1,160,191     $ 4,015,692     $ 1,375,223     $ 5,738,239  

The Company determines the incremental borrowing rate by adjusting the benchmark reference rates, with appropriate financing spreads applicable to the respective geographies where the leases were entered and lease specific adjustments for the effects of collateral.

 

 

   Year ended March 31, 
   2024   2023 
Maturities of lease liabilities are as follows:  Operating Leases   Finance Leases   Operating Leases   Finance Leases 
2024  $-   $-   $497,344   $1,877,744 
2025   392,443    6,475,668    471,185    2,103,127 
2026   345,584    -    350,777    3,048,501 
2027   362,385    -    367,830    672,269 
2028   380,025    -    385,735    - 
2029   398,548    -    404,536    - 
Total Lease Payments   1,878,985    6,475,668    2,477,407    7,701,641 
Less : Imputed Interest   503,762    737,429    725,982    1,345,957 
Total Lease Liabilities  $1,375,223   $5,738,239   $1,751,425   $6,355,684