INVENTORIES

6 Months Ended

Sep. 30, 2014

INVENTORIES

Inventories consist of the following amounts:

	September 30,		March 31,
	2014		2014
Raw materials	$	11,034	$	11,487
Work in progress		2,623		2,210
Finished goods*		11,416		13,905
Stores and spares		641		545
	$	25,714	$	28,147
Provision for slow moving / obsolete inventory		(1,911)		(2,574)
	$	23,803	$	25,573

* includes adjustments for market value.

The activity in the allowance for slow moving/obsolete and rejected inventory is given below.

	Six months ended				Three months ended
	September 30,				September 30,
	2014		2013		2014		2013
Balance at the beginning of the period	$	2,574	$	675	$	3,570	$	1,090
Charges to revenues and costs, net *		4,114		1,686		1,061		665
Inventory written-off		(4,777)		(1,625)		(2,720)		(1,019)
Balance at the end of the period	$	1,911	$	736	$	1,911	$	736

*During the six months ended September 30, 2014 and 2013, the Company has written down/off inventory by $1,702 (net of $ 2,412 recovered from vendor), and $843 (net of $843 recovered from vendor) respectively, and during the three months ended September 30, 2014 and 2013, the Company has written down/off inventory by $82 (net of $ 979 recovered from vendor), and $322 (net of $343 recovered from vendor) respectively, on account of slow-moving, obsolete and rejected inventory. These amounts are included in the cost of revenues.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

+ References+ Details

Cadista Holdings Inc. 10-Q