v3.25.1
OTHER LIABILITIES
 12 Months Ended
Mar. 31, 2025
Other Liabilities Disclosure [Abstract]  
OTHER LIABILITIES OTHER LIABILITIES
As of March 31, 2025 and 2024, other liabilities of the Company included the following:
March 31, 2025March 31, 2024
Financial liability measured at fair value$32,087 $3,143 
Loans received24,860 9,469 
Salaries and other employee benefits17,326 15,660 
Vacation reserve11,698 9,121 
Payable to suppliers9,815 9,391 
Taxes payable other than income tax6,338 3,852 
Deferred income tax liabilities62 66 
Other advances received3,683 3,867 
Payable for acquisition2,672 — 
Deferred distribution payments156 156 
Outstanding settlements operations— 3,455 
Other21,040 23,380 
Total other liabilities$129,737 $81,560 

As of March 31, 2025, the Company had over-the-counter financial liabilities which included the structured derivative contracts in the amount of $32 million entered into by our wholly-owned subsidiary FSP. Structured products are compound financial instruments that combine a base instrument such as a bond, index, deposit, equity and an embedded derivative that provides economic exposure to the relevant assets. The Company classifies these balances as Level 2 of fair-value hierarchy, where fair value is determined with an option-pricing model that uses observable equity volatility and forward curves.
As of March 31, 2025, the Company had loans received, including a loan from JSC "Development Bank of Kazakhstan" for the total amount of $13,815 denominated in KZT, bearing a fixed annual interest rate of 10.0% for the term until April 30, 2027, and 15.71% thereafter, with a maturity date of June 21, 2031. The purpose of this loan is to finance the development of the Company's telecommunications business, specifically, the expansion of a broadband internet access in rural areas. As of the reporting date, the Company was in compliance with all financial covenants provided for under this loan. The Company also had a loan from JSC "Agrarian Credit Corporation" for the total amount of $10,903 denominated in KZT, with an annual interest rate of 1.50% and a maturity date of March 1, 2026. The purpose of this loan is its further lending by Freedom Bank KZ to entities operating in the Kazakhstan agro-industrial sector and agricultural production cooperatives. The loan does not impose on us any financial covenants.