Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2020
Cash Flows From Operating Activities      
Net income $ 211,369,000 $ 142,924,000 $ 22,130,000
Adjustments to reconcile net income from operating activities:      
Depreciation and amortization 4,647,000 3,825,000 2,658,000
Noncash lease expense 8,146,000 6,136,000 6,298,000
Subsidiaries goodwill impairment 2,300,000 0 0
Client base write-off 3,125,000 0 0
Loss on sale of fixed assets 0 0 201,000
Change in deferred taxes (17,462,000) 2,737,000 545,000
Stock compensation expense 15,745,000 1,147,000 2,625,000
Share based payment 0 517,000 1,052,000
Unrealized loss/(gain) on trading securities 101,545,000 (6,919,000) 7,847,000
Net change in accrued interest 2,158,000 (13,074,000) (816,000)
Allowance/(recovery) for receivables 2,985,000 1,561,000 (1,164,000)
Changes in operating assets and liabilities:      
Trading securities (654,027,000) (507,493,000) (22,870,000)
Brokerage and other receivables, net (313,687,000) 49,303,000 (47,089,000)
Loans purchased from microfinance organization (59,839,000) 0 0
Loans sold to microfinance organization 12,107,000 0 0
Loans issued (44,270,000) (850,000) (7,787,000)
Other assets, net (7,812,000) (8,780,000) (5,619,000)
Securities sold, but not yet purchased - at fair value 5,535,000 8,532,000 0
Customer liabilities 352,533,000 860,438,000 115,844,000
Current income tax liability (280,000) 12,147,000 650,000
Trade payables 23,422,000 15,060,000 (23,933,000)
Changes in lease liability (8,585,000) (5,997,000) (6,474,000)
Other liabilities 12,357,000 4,085,000 173,000
Net cash flows (used in)/ from operating activities (347,988,000) 565,299,000 44,271,000
Cash Flows From/(Used by) Investing Activities      
Purchase of fixed assets (9,037,000) (4,163,000) (4,631,000)
Proceeds from sale of fixed assets 334,000 91,000 285,000
Proceeds from sale/(purchase) of available-for-sale securities, at fair value 0 6,437,000 (6,508,000)
Purchase of intangible assets 0 0 0
Consideration paid for Zerich 0 (7,110,000) 0
Consideration paid for PrimeEx 0 (2,500,000) 0
Consideration paid for Freedom Bank KZ 0 (53,097,000) 0
Cash, cash equivalents and restricted cash received from acquisitions 0 157,382,000 0
Net cash flows (used in)/from investing activities (8,703,000) 97,040,000 (10,854,000)
Cash Flows From Financing Activities      
Repurchase/(repayment) of securities repurchase agreement obligations 401,468,000 349,717,000 (16,730,000)
Proceeds from issuance of debt securities 47,200,000 3,626,000 62,970,000
Repurchase of debt securities (16,703,000) (8,350,000) (9,578,000)
Capital contributions 21,600,000 0 0
Exercise of options 119,000 118,000 455,000
Proceeds from loans received 0 3,300,000 0
Repayment of loans received 0 0 (4,008,000)
Net cash flows from financing activities 453,684,000 348,411,000 33,109,000
Effect of changes in foreign exchange rates on cash and cash equivalents (54,552,000) (3,769,000) (25,141,000)
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 42,441,000 1,006,981,000 41,385,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 1,136,786,000 129,805,000 88,420,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 1,179,227,000 1,136,786,000 129,805,000
Supplemental disclosure of cash flow information:      
Cash paid for interest (35,165,000) (23,903,000) (9,538,000)
Income taxes paid (48,673,000) (15,044,000) (5,286,000)
Supplemental non-cash disclosures:      
Operating lease right-of-use assets obtained in exchange for operating lease obligations on adoption of new lease standard 0 0 16,979,000
Operating lease right-of-use assets obtained/disposed of in exchange for operating lease obligations during the period, net 11,016,000 3,439,000 4,722,000
Cash and cash equivalents 625,547,000 698,828,000 63,208,000
Restricted cash 553,680,000 437,958,000 66,597,000
Total cash, cash and cash equivalents and restricted cash shown in the statement of cash flows $ 1,179,227,000 $ 1,136,786,000 $ 129,805,000