Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 332

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 332
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The Company offers loyalty program, Z-Points, that results in the deferral of revenue equivalent to the retail value at the date the points are earned. The Company had accumulated deferred revenue amounting to $29,369 and $96,710 as at December 31, 2024 and March 31, 2024, respectively in relation to Loyalty program.

Revenue recognized during the three months and nine months ended December 31, 2024 which was included in contract liabilities balance at the beginning of the respective period amounts to $(13,488) and $256,341 respectively ($NIL and $360,686 recognized during the three months and nine months ended December 31, 2023 respectively).

<div align='center'>F-38

ZOOMCAR HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</div>

| 24 | Finance costs |

The components of finance costs were as follows:

| (In USD)                                           
 Finance costs -other than related parties          |     | Three        
 months ended 
 December 31, 
 2024         |           |     | 2023 |           |     | Nine         
 months ended 
 December 31, 
 2024         |           |     | 2023 |            |
|:---------------------------------------------------|:----|:-------------|----------:|:----|:-----|----------:|:----|:-------------|----------:|:----|:-----|-----------:|
| Interest                                           
 on vehicle loans                                   |     | $            |    68,032 |     | $    |    97,341 |     | $            |   230,116 |     | $    |    288,279 |
| Interest                                           
 on finance leases                                  |     |              |   180,841 |     |      |   152,659 |     |              |   448,050 |     |      |    469,140 |
| Interest                                           
 on subcontractor liability                         |     |              |    23,098 |     |      |    23,435 |     |              |    69,586 |     |      |     70,585 |
| Issuance                                           
 cost towards issue of Common Stock and warrants    |     |              | 2,868,085 |     |      |         - |     |              | 2,868,085 |     |      |