Quarterly report pursuant to Section 13 or 15(d)

CASH AND CASH EQUIVALENTS

v3.23.3
CASH AND CASH EQUIVALENTS
 6 Months Ended
Sep. 30, 2023
Cash and Cash Equivalents [Abstract]  
CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS
As of September 30, 2023, and March 31, 2023, cash and cash equivalents consisted of the following:
 
September 30, 2023
March 31, 2023
 
Short term deposits in National Bank (Kazakhstan) $ 201,718  $ 357,454 
Cash in commercial banks 94,274  83,755 
Securities purchased under reverse repurchase agreements 72,112  29,812 
Petty cash in bank vault and on hand 44,362  35,998 
Short term deposits in stock exchanges 27,119  31,691 
Short term deposits on brokerage accounts 18,999  37,417 
Cash in transit 4,013  3,364 
Overnight deposits 1,597  1,926 
Allowance for Cash and cash equivalents $ (319) $ — 
Total cash and cash equivalents $ 463,875  $ 581,417 
As of September 30, 2023, and March 31, 2023, cash and cash equivalents were not insured. As of September 30, 2023, and March 31, 2023, the cash and cash equivalents balance included short-term collateralized securities received under reverse repurchase agreements on the terms presented below:
September 30, 2023
Interest rates and remaining contractual maturity of the agreements
Average interest rate
Up to 30 days 30-90 days Total
Securities purchased under reverse repurchase agreements
   
Corporate equity 17.35  % $ 42,403  $ —  $ 42,403 
US sovereign debt 4.52  % 21,963  —  21,963 
Corporate debt 2.50  % 7,210  —  7,210 
Non-US sovereign debt 15.50  % 536  —  536 
Total $ 72,112  $ —  $ 72,112 
March 31, 2023
Interest rates and remaining contractual maturity of the agreements
Average interest rate
Up to 30 days 30-90 days Total
Securities purchased under reverse repurchase agreements
US sovereign debt 2.06  % $ 17,102  $ —  $ 17,102 
Corporate equity 17.17  % 6,963  —  6,963 
Non-US sovereign debt 6.12  % 3,483  —  3,483 
Corporate debt 2.52  % 2,079  185  2,264 
Total $ 29,627  $ 185  $ 29,812 
The securities received by the Group as collateral under reverse repurchase agreements are liquid trading securities with market quotes and significant trading volume. The fair value of collateral received by the Group under reverse repurchase agreements as of September 30, 2023, and March 31, 2023, was $72,160 and $31,165, respectively.
As of September 30, 2023 and March 31, 2023, securities purchased under reverse repurchase agreements included accrued interest in the amount of $38 and $11, with a weighted average maturity of 5 days and 9 days, respectively. All securities repurchase agreements transactions were executed through the Kazakhstan Stock Exchange.