Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 1297

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 3
Chunk 1297
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 of the salvage value of the devices from 30% to 0%. The change in estimate resulted in a decrease in net income by $47,085 compared to the year ended March 31, 2024 or $0.19 per share (basic and diluted) for the year ended March 31, 2025.

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F-26

ZOOMCAR HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

12Leases

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,
 2025  
    March 31,
 2024 
  
    Finance lease cost: 

    Amortization of right-of-use assets 
    $-  
    $- 
  
    Interest on lease liabilities 
     550,903  
     625,523 
  
    Operating lease cost 
     363,435  
     516,219 
  
    Short term lease cost 
     486,289  
     423,693 
  
    Total lease cost 
    $1,400,627  
    $1,565,435 

Supplemental cash flow information related to leases
was as follows:

    (In
    USD)
    Period ended 
    March 31,
 2025  
    March 31,
 2024 
  
    Cash paid for amounts included in the measurement of lease liabilities: 

    Operating cash outflows for operating leases 
    $(338,626) 
    $(441,843)
  
    Financing cash outflows for finance leases 
    $(2,103,219) 
    $(526,959)

Supplemental balance sheet information related
to leases was as follows:

  (In USD) As at  March 31, 2025   March 31, 2024   Operating Leases