Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 2071

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 7
Chunk 2071
---
7 years 
     551,877  
     603,864 
  
    Office equipments 
    3 - 10 years 
     229,481  
     245,545 
  
    Furniture and fixtures 
    10 years 
     1,720  
     7,398 
  
    Total, at cost 
      
     3,182,360  
     4,131,805 
  
    Less: Accumulated depreciation 
      
     (2,855,236) 
     (2,572,825)

    $327,124  
    $1,558,980 
  
    Right-of-use assets under finance leases: 

    Vehicles, at cost 
      
    $5,777,170  
    $5,923,555 
  
    Accumulated depreciation 
      
     (4,015,655) 
     (4,117,406)
  
    Accumulated impairment 
      
     (1,761,515) 
     (1,806,149)

    $-  
    $- 
  
    Total property and equipment, net 
      
    $327,124  
    $1,558,980 

Depreciation
expense for the year ended March 31, 2025 was $430,613 ($994,640 for the year ended March 31, 2024).

During the year ended March 31, 2025, the Company has retired the devices of the carrying value amounting to $727,145 ($NIL for the year ended March 31, 2024). Also, during the year ended March 31, 2025, the Company revised its estimate 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.

(This space has been left intentionally blank)

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