Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 330

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 330
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----|:------|----------:|:----|:----------------------|:----|:------|:--|
| As at                                                  |     | Balance               
 Sheet                 
 Location              |     | Fair  
 Value |           |     | Balance               
 Sheet                 
 Location              |     | Fair  
 Value |   |
| Derivatives                                            
 not designated as hedging instruments under ASC 815-20 |     |                       |     |       |           |     |                       |     |       |   |
| Series                                                 
 A and Series B Warrants                                |     | Derivative            
 financial instruments |     | $     | 7,950,503 |     | Derivative            
 financial instruments |     | $     | - |
| Total                                                  |     |                       |     | $     | 7,950,503 |     |                       |     | $     | - |

The changes in fair value of the Series A and Series B warrants are being recognized under ‘Change in fair value of derivative financial instruments’ within the Condensed Consolidated Statements of Operations. Refer Note 31, Fair value measurements. The Company classifies cash flows related to derivative liabilities as financing activities in the Condensed Consolidated Statement of Cash Flows. Further, the Company has reported the (gain)/loss on fair value change of these derivative financial instruments under non cash adjustments to the cash flow from operating activities in the Condensed Consolidated Statement of Cash Flows.

<div align='center'>F-37

ZOOMCAR HOLDINGS, INC.

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

| 23 | Revenue |

The components of revenue, net were as follows:

| (In USD)                   
 Revenue from services      |     | Three        
 months ended 
 December 31, 
 2024         |           |     | 2023 |           |     | Nine         
 months ended 
 December 31, 
 2024         |           |     | 2023 |           |
|:---------------------------|:----|:-------------|----------:|:----|:-----|----------:|:----|:-------------|----------:|:----|:-----|----------:|
| Facilitation revenue (net) |     | $            | 2,448,571 |     | $    | 2,421,438 |     | $            | 6,894,511 |     | $    | 7,717,064 |
| Others