Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 385

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 385
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31, 2023, the Company believes no impairment exists because the long-lived asset’s future undiscounted net cash flows expected to be generated exceeds its carrying value; however, there can be no assurances that long-lived assets will not be impaired in future periods.

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F-80

ZOOMCAR HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

| 12 | Leases |

The Company’s leases primarily include vehicles and corporate offices which have been classified as finance leases and operating leases, respectively. The lease term of operating and finance leases varies between 3 to 7 years. The lease agreements do not contain any covenants to impose any restrictions except for market- standard practice for similar lease arrangements. In assessment of the lease term, the Company considers the extension option as part of its lease term for those lease arrangements where the Company is reasonably certain of availing the extension option.

The components of lease expense were as follows:

| (In USD)                            | Period ended |   |     March 
       31, 
      2024 |     |   |     March 
       31, 
      2023 |
|:------------------------------------|:-------------|:--|----------:|:----|:--|----------:|
| Finance lease cost:                 |              |   |           |     |   |           |
| Amortization of right-of-use assets |              | $ |         - |     | $ |     3,298 |
| Interest on lease liabilities       |              |   |   625,523 |     |   |   844,424 |
| Operating lease cost                |              |   |   516,219 |     |   |   540,908 |
| Short term lease cost               |              |   |   423,693 |     |   |   181,337 |
| Total lease cost                    |              |   | 1,565,435 |     |   | 1,569,967 |

Supplemental cash flow information related to leases was as follows:

| (In USD)                                                                
 Period ended                                                            |     | March 
 31,   
 2024  |          |   |     | March 
 31,   
 2023  |            |   |
|:------------------------------------------------------------------------|:----|:------|:---------|:--|:----|:------|-----------: