Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 128

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 128
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 during the year ended March 31, 2023, a decrease of $0.97 million, or 14%, primarily driven by a $1.27 million reduction in Host incentives (this reflects the portion of the host incentives are accounted for as sales and marketing expense), $0.66 million reduction in performance marketing expenses, and $0.47 million optimization in referral bonuses paid to existing Hosts for referring new Hosts during the year ended March 31, 2024 as compared to the year ended March 31, 2023. Personnel related costs decreased by $0.38 million due to reductions in headcount. These cost reductions above were partially offset by an increase of brand marketing expenditures by $1.81 million (centered on the Indian Premier League season during the April to June 2023 time period), which impacted the year ended March 31, 2024, versus the year ended March 31, 2023. General and Administrative

|                            |     |                       For 
 the Years Ended March 31, |            |     |      |            |     |        |           |     |        |    |   |
|                            |     |                      2024 |            |     | 2023 |            |     | Change |           |     | %      
 Change |    |   |
| General and administrative |     |                           | 17,245,096 |     |      | 12,695,839 |     |        | 4,549,257 |     |        | 36 | % |

General and administrative expenses were $17.25 million during the year ended March 31, 2024, as compared to $12.70 million during the year ended March 31, 2023, an increase of $4.55 million, or 36%. The increase during the year ended March 31, 2024, was driven by an increase in legal and professional expenses of $ 5.85 million which includes legal and advisory fees related to the deSPAC transaction. Excluding professional fees paid in both periods, overall G&A expense decreased by $1.30 million during the year ended March 31, 2024 versus the year ended March 31, 2023 primarily due to the reduction of employee benefit expenses for support and executive functions to $5.50 million for the year ended March 31, 2024 versus costs of $6.72 million during the year ended March 31, 2023,