Company: ZCARW
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-041769
Chunk: 129

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-12
Form: S-1/A
Chunk 129
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4, 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, 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. 74 Impairment of balances with government authorities

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