Quarterly report pursuant to Section 13 or 15(d)

CASH AND CASH EQUIVALENTS

v3.24.0.1
CASH AND CASH EQUIVALENTS
 9 Months Ended
Dec. 31, 2023
Cash and Cash Equivalents [Abstract]  
CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS
As of December 31, 2023, and March 31, 2023, cash and cash equivalents consisted of the following:
 
December 31, 2023
March 31, 2023
 
Short term deposits in National Bank (Kazakhstan) $ 237,145  $ 357,454 
Short term deposits in commercial banks 129,915  83,755 
Securities purchased under reverse repurchase agreements 107,262  29,812 
Petty cash in bank vault and on hand 49,717  35,998 
Short term deposits in stock exchanges 34,696  31,691 
Short term deposits on brokerage accounts 2,793  37,417 
Overnight deposits 429  1,926 
Cash in transit 219  3,364 
Short term deposits in the Central Depository (Kazakhstan) 54  — 
Allowance for Cash and cash equivalents (347) — 
Total cash and cash equivalents $ 561,883  $ 581,417 
As of December 31, 2023, and March 31, 2023, cash and cash equivalents balance included short-term collateralized securities received under reverse repurchase agreements which the Group concludes mainly on KASE. KASE, in turn, guarantees payments to the counterparty. The terms of the short-term collateralized securities received under reverse repurchase agreements as of December 31, 2023, and March 31, 2023 are presented below:
December 31, 2023
Interest rates and remaining contractual maturity of the agreements
Average interest rate
Up to 30 days
Securities purchased under reverse repurchase agreements
Non-US sovereign debt 9.77  % $ 39,123 
Corporate equity 16.32  % 34,417 
US sovereign debt 5.37  % 23,693 
Corporate debt 5.30  % 10,029 
Total $ 107,262 
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 December 31, 2023, and March 31, 2023, was $107,420 and $31,165, respectively.
As of December 31, 2023 and March 31, 2023, securities purchased under reverse repurchase agreements included accrued interest in the amount of $82 and $11, with a weighted average maturity of 4 days and 9 days, respectively. All securities repurchase agreements transactions were executed through the Kazakhstan Stock Exchange.