Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 825

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 1C
Chunk 825
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 Change  
    Change % 
  
    General and administrative 
     9,778,371  
     17,245,096  
     (7,466,725) 
     -43%

General and administrative expenses were $9.78 million during the year
ended March 31, 2025, as compared to $17.25 million during the year ended March 31,2024, a reduction of $7.47 million, or 43%. Professional
fees reduced by $5.65 million driven by elimination of SPAC related expenses during the year ended March 31, 2025 as compared to the previous
comparable period. Personnel-related costs decreased by $1.79 million due to reductions in headcount during the year ended March 31, 2025.

Impairment of balances with government authorities

    For the Years Ended March 31, 

    2025  
    2024  
    Change  
    Change % 
  
    Impairment of balances with government authorities 
     -  
     3,875,767  
     (3,875,767) 
     -100%

The impairment of balances
with government authorities were Nil during the year ended March 31, 2025, as compared to $3.88 million during the year ended March 31,
2024. 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, 

    2025  
    2024  
    Change  
    Change % 
  
    Finance costs 
     8,607,173  
     13,898,735  
     (5,291,562) 
     -38%
  
    Finance costs to related parties 
     -  
     38,203  
     (38,203) 
     -100%

Finance costs were $8.61 million during the year ended March 31, 2025,
as compared to $13.94 million during the year ended March 31, 2024, a reduction of $5.33 million, or 38%. There were Non-cash expenses
related to change in fair valuation of derivative financial instrument amounting to $3.47 million, change in the value of preferred stock