Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENTS OF OPERATIONS AND STATEMENTS OF OTHER COMPREHENSIVE INCOME

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CONSOLIDATED STATEMENTS OF OPERATIONS AND STATEMENTS OF OTHER COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2024
Revenue:      
Fee and commission income (including $7,680, $4,725 and $65,972 from related parties) $ 489,765 $ 505,026 $ 440,333
Net gain/(loss) on trading securities 158,824 (57,810) 133,854
Interest income (including $12,703 , $1,731 and $24,941 from related parties) 882,478 864,453 828,224
Net insurance revenue 402,396 571,224 245,122
Net gain on foreign exchange operations 67,680 51,684 72,245
Net gain/(loss) on derivatives 66,772 12,404 (103,794)
Sales of goods and services 97,446 40,102 21,576
Other income 25,930 17,072 9,696
TOTAL REVENUE, NET 2,191,291 2,004,155 1,647,256
Expense:      
Fee and commission expense 218,565 346,502 154,716
Interest expense 489,036 535,895 501,111
Insurance claims and policyholder benefits, net of reinsurance 259,309 260,488 117,273
Payroll and bonuses 426,471 287,347 180,283
Professional services 46,258 28,924 34,238
Stock compensation expense 68,047 59,592 22,719
Advertising and sponsorship expense (including $27,151,$18,497, and — from related parties) 103,304 124,627 38,327
General and administrative expense 222,339 162,474 120,888
Allowance for expected credit losses 52,365 62,445 21,225
Cost of sales 79,632 31,278 17,538
TOTAL EXPENSE 1,965,326 1,899,572 1,208,318
INCOME BEFORE INCOME TAX 225,965 104,583 438,938
Income tax expense (72,637) (28,425) (60,419)
NET INCOME 153,328 76,158 378,519
Less: Net loss attributable to non-controlling interest in subsidiary 0 (129) (588)
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS 153,328 76,287 379,107
OTHER COMPREHENSIVE INCOME      
Change in unrealized (loss)/gain on investments available-for-sale, net of tax effect (4,771) 4,364 6,196
Reclassification adjustment for net realized (gain)/loss on available-for-sale investments disposed of in the period, net of tax effect (4,937) 681 (3,209)
Change in discount rate on liability for future policy benefits (881) 6,807 (4,811)
Foreign currency translation adjustments 54,046 (104,102) 12,075
OTHER COMPREHENSIVE INCOME/(LOSS) 43,457 (92,250) 10,251
COMPREHENSIVE INCOME/(LOSS) BEFORE NON-CONTROLLING INTERESTS 196,785 (16,092) 388,770
Less: Comprehensive loss attributable to non-controlling interest in subsidiary 0 (129) (588)
COMPREHENSIVE INCOME/(LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 196,785 $ (15,963) $ 389,358
EARNINGS PER COMMON SHARE      
Earnings per common share - basic (in dollars per share) $ 2.56 $ 1.28 $ 6.43
Earnings per common share - diluted (in dollars per share) $ 2.51 $ 1.26 $ 6.39
Weighted average number of shares (basic) (in shares) 59,992,357 59,393,629 58,958,363
Weighted average number of shares (diluted) (in shares) 61,117,931 60,490,564 59,362,982