Credit risk related to accounts receivables

6 Months Ended

Sep. 30, 2021

Receivables [Abstract]

Credit risk related to accounts receivables

Credit risk related to accounts receivable

The movements in the allowance for doubtful accounts are as follows (in thousands):

	Six Months Ended September 30,
	2020		2021
Balance at April 1	$	3,602	$	5,575
Bad debt provision	2,273		1,563
Write-offs, net of recoveries	(1,748)		(1,036)
Foreign currency translation differences	153		(66)
Balance at September 30	$	4,280	$	6,036

Overview of the Company’s exposure to credit risk from customers

The maximum exposure to credit risk at the reporting date is the carrying value of each receivable and loan to external parties, net of impairment losses where relevant. As of March 31, 2021 and September 30, 2021, the Company had no significant concentration of credit risk, due to its spread of customers across various operations and geographical locations.

The Company does not hold any collateral as security.

Net accounts receivable as of March 31, 2021 and September 30, 2021 of $2.3 million and $3.2 million, respectively, are pledged as security for the Company’s overdraft facilities.