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Condensed Consolidated Interim Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Operating Activities    
Net profit /(loss) for the period $ 11,472,321 $ (7,725,280)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of intangible assets (Note7) 727,873 660,090
Bad debt expense/ (recovery) 59,990 (10,193)
Depreciation (Note 6) 115,327 148,671
Fair value of share-based payments 5,016,573 189,478
Financing interest 1,242,406
Loss / (gain) on unrealized foreign exchange 4,323 772,985
Lease finance charge
Operating lease expense 506,839 440,779
Share of Noncontrolling interest 793,622
Other adjustments relating to disposal of subsidiary (534,205)
Gain on disposal of REP and BEP1 (18,717,068)
Changes in operating assets and liabilities:    
Short-term investments and amounts held in trust 56,483 1,830,966
Accounts receivable and other receivables (4,458,991) 3,193,455
Accrued revenue 67,209 (414,081)
Prepaid expenses, parts inventory and advances (706,735) (516,117)
Security deposit and other advances (2,621,605) 334,365
Lease payments (553,181) (537,384)
Prepaid manufacturing costs (71,908) (24,736)
Accounts payable and accrued liabilities 8,217,739 (5,075,754)
Income tax 1,165,639
Warranty provision (186,215) (218,185)
Contract liabilities (3,584,936) 765,369
Due to related parties 1,561,762 91,502
Net cash used in operating activities (426,738) (6,094,070)
Investing Activities    
Additions of property and equipment (55,257) (1,055)
Projects under development (47,590,484) (31,901,402)
Proceeds from disposal of subsidiaries (Net Proceeds) 13,978,850
Acquisition of BESS Italy SPV’s (1,398,881)
Net cash provided by/(used in) investing activities (35,065,772) (31,902,457)
Financing Activities    
Noncontrolling interest (Note 7(a) and (b)) 16,160,505
Proceeds from loan facility (Note 13) 1,919,000 18,787,421
Loans Paid – Principal (129,189)
Loans Paid – Interest (857,088)
Proceeds from project loan facilities (Note 13) 45,340,183
Net cash provided by financing activities 46,272,906 34,947,926
Effect of foreign exchange rate changes on cash 1,010,106 (737,456)
Change in cash and cash equivalents 11,790,502 (3,786,057)
Cash and cash equivalents, beginning of period 1,273,738 6,286,468
Cash and cash equivalents, end of period 13,064,240 2,500,411
Cash and cash equivalents $ 13,064,240 $ 2,500,411