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EMPLOYEE BENEFITS (Tables)
 12 Months Ended
Mar. 31, 2024
Employee benefits [Abstract]  
Disclosure of net defined benefit liability (asset)
The changes in the fair value of assets, the employee benefit obligation and the funded status were as follows:

As at
March 31
2024
March 31
2023
Accrued benefit obligations:
Opening balance$29,162 $32,721 
Acquisition of subsidiary— 1,055 
Interest cost1,015 579 
Service cost610 553 
Assumption changes561 (5,043)
Transfers and benefits paid(2,590)(2,111)
Foreign exchange(376)1,408 
Accrued benefit obligations, ending balance$28,382 $29,162 
Plan assets:
Opening balance$3,676 $3,589 
Interest income included in net interest expense125 (170)
Company contributions— 179 
Foreign exchange(4)78 
Plan assets, ending balance$3,797 $3,676 
Employee benefits liability$24,585 $25,486 
Amounts recognized in the consolidated statements of comprehensive income (before tax) were as follows:

As at
March 31
2024
March 31
2023
Total actuarial gains (losses) recognized in OCI
$(561)$5,043 

The significant weighted average annual actuarial assumptions used in measuring the accrued benefit obligation were as follows:

As at
March 31
2024
March 31
2023
Discount rate3.8 %4.1 %
Rate of compensation increase0.6 %0.4 %
Disclosure of sensitivity analysis for actuarial assumptions
As at March 31, 2024, the following quantitative analysis shows changes to the significant actuarial assumptions and the corresponding impact on the accrued benefit obligations:
Discount rate Life expectancy
1% increase1% decreaseIncrease by 1 yearDecrease by 1 year
Accrued benefit obligations$(2,988)$2,146 $625 $(638)
The weighted average allocations of plan assets were:
As at
March 31
2024
March 31
2023
Other100.0 %100.0 %
Disclosure of defined benefit plans
The net employee benefits expense included the following components:
Years ended
March 31
2024
March 31
2023
Defined benefit plans
Service cost$610 $553 
Interest cost1,015 579 
1,625 1,132 
Defined contribution plans9,871 7,250 
Net employee benefits expense$11,496 $8,382