Company: ZCARW
Filing Date: 2025-05-05
Form Type: S-1
Source: 0001213900-25-039778
Chunk: 132

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-05
Form: S-1
Chunk 132
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 | (13,672,017 | ) |     |     |    -50 | % |
| Finance costs to related parties |     |                               |     38,203 |     |   |     64,844 |     |   | (26,641     | ) |     |     |    -41 | % |

Finance costs were $13.90 million during the year ended March 31, 2024, as compared to $27.57 million during the year ended March 31, 2023, a reduction of $13.67 million, or 50% primarily on account of reduced non-cash charges due to a change in fair value of derivative financial instrument of $10.91 million. This reduction was offset by increases in non-cash charges due to change in fair value of the Preferred stock warrant liability of $5.28 million, discount on issuance and change in fair value of Atalaya Note of $2.27 million and SSCPN issue expenses of $0.60 million. These costs were further offset by a reduction in interest on vehicle loans, interest on finance leases, other borrowing cost and bank charges by an amount of $0.23 million, $0.22 million, $0.16 million, and $ 0.05 million respectively. Finance Costs to related parties reduced due to decline in outstanding loan balances. Other (income) and expense, net

|                                   |     | For the Years Ended March 31, 
 2024                          |             |   |     | 2023 |            |   |     | Change |           |   |     | %      
 Change |     |   |
|:----------------------------------|:----|:------------------------------|:------------|:--|:----|:-----|:-----------|:--|:----|:-------|----------:|:--|:----|:-------|----:|:--|
| Other income, net                 |     | $                             | (11,316,472 | ) |     | $    | (2,043,556 | ) |     | $      | 9,272,916 |   |     |        | 454 | % |
| Other income from related parties |     |                               | (11,224     | ) |     |      | (15,804    | ) |     |        |    (4,580 | ) |     |        | -29 | % |

Other income was $11.32 million during