Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 129

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 129
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 a reduction of $1.22 million year over year (Primarily the Employee benefit expense reduced due to lower charge of $1.07 million on account of ESOP issuance during the year ended March 31, 2023). Amortization and depreciation charges decreased by $0.23 million for the year ended March 31, 2024 due to the end of the depreciable lives of certain furniture and fixtures. These reductions were partially offset by an increase in rental costs of $0.24 million during the year ended March 31, 2024 as compared to the year ended March 31, 2023 due to one-time non-operating parking charges for owned cars which were being run under the erstwhile inventory heavy self-drive rental business and now being disposed of gradually, once disposed these charges will not be incurred. 70 Impairment of balances with government authorities

|                             |     |                       For 
 the Years Ended March 31, |           |     |      |   |     |        |           |     |        |     |   |
|                             |     |                      2024 |           |     | 2023 |   |     | Change |           |     | %      
 Change |     |   |
| Impairment of balances      
 with government authorities |     |                           | 3,875,767 |     |      | - |     |        | 3,875,767 |     |        | 100 | % |

The impairment of balances with government authorities were $3.88 million during the year ended March 31, 2024, as compared to Nil during the year ended March 32, 2023. This impairment is a one-time charge due to non-utilization of Goods and Service Tax (GST) input accumulated over the past few years. Finance Costs

|                                  |     | For                       
 the Years Ended March 31, |       2024 |     |   |       2023 |     |   | Change      |   |     |     |      % 
 Change |   |
|:---------------------------------|:----|:--------------------------|-----------:|:----|:--|-----------:|:----|:--|:------------|:--|:----|:----|-------:|:--|
| Finance costs                    |     | $                         | 13,898,735 |     | $ | 27,570,752 |     | $ | (13,672,017 | )