Quarterly report pursuant to Section 13 or 15(d)

CASH AND CASH EQUIVALENTS

v3.24.3
CASH AND CASH EQUIVALENTS
 6 Months Ended
Sep. 30, 2024
Cash and Cash Equivalents [Abstract]  
CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS
As of September 30, 2024, and March 31, 2024, cash and cash equivalents consisted of the following:
 
September 30, 2024
March 31, 2024
 
Short term deposits in National Bank (Kazakhstan) $ 185,925  $ 196,942 
Short term deposits in commercial banks 166,829  127,051 
Securities purchased under reverse repurchase agreements 121,493  134,961 
Petty cash in bank vault and on hand 43,375  22,613 
Overnight deposits 28,295  3,557 
Short term deposits on brokerage accounts 9,459  2,917 
Cash in transit 8,574  9,633 
Short term deposits in stock exchanges 5,071  47,830 
Short term deposits in the Central Depository (Kazakhstan) 451  42 
Allowance for Cash and cash equivalents (293) (462)
Total cash and cash equivalents $ 569,179  $ 545,084 
As of September 30, 2024, and March 31, 2024, total cash and cash equivalents 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 September 30, 2024, and March 31, 2024 are presented below:
September 30, 2024
Interest rates and remaining contractual maturity of the agreements
Average interest rate
Up to 30 days Total
Securities purchased under reverse repurchase agreements
 
Corporate equity 12.96  % 73,001  73,001 
Corporate debt 11.28  % 26,473  26,473 
Non-US sovereign debt 5.86  % 12,801  $ 12,801 
US sovereign debt 8.88  % 9,218  9,218 
Total $ 121,493  $ 121,493 
March 31, 2024
Interest rates and remaining contractual maturity of the agreements
Average interest rate
Up to 30 days Total
Securities purchased under reverse repurchase agreements
Corporate equity 14.57  % $ 96,647  $ 96,647 
US sovereign debt 4.77  % 16,885  16,885 
Non-US sovereign debt 4.45  % 12,468  12,468 
Corporate debt 5.31  % 8,961  8,961 
Total $ 134,961  $ 134,961 
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, 2024 and March 31, 2024, was $122,375 and $133,380, respectively.
As of September 30, 2024 and March 31, 2024, securities purchased under reverse repurchase agreements included accrued interest in the amount of $88 and $106, with a weighted average maturity of 4 days and 3 days, respectively. All securities reverse repurchase agreements transactions were executed on KASE.