Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 2052

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 7
Chunk 2052
---
 cash equivalents, investments,
other receivables, and accounts receivable are potentially subject to credit risk concentration. The Company has not experienced any material
losses related to these concentrations during the years presented. No customers accounted for 10% or more of revenue for the years ended
March 31, 2025 and 2024.

xiii.Property and equipment, net

Property and equipment are stated
at cost less accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the estimated useful
lives.

The devices installed on host vehicles
in the marketplace business have been depreciated over 5 years. During the year ended March 31, 2025, the Company revised its estimate
of the salvage value of the devices from 30% to 0%.

When assets are retired or otherwise
disposed of, the cost and accumulated depreciation are removed from the Consolidated Balance Sheets and any resulting gain or loss is
reflected on the Consolidated Statements of Operations in the period realized.

xiv.Assets held for sale

The Company classifies vehicles to
be disposed of as held for sale in the period in which they are available for immediate sale in their present condition and the sale is
probable and expected to be completed within one year. The Company initially measures assets held for sale at the lower of their carrying
value or fair value less costs to sell and assesses their fair value annually until disposed. The fair value of Assets held for sale not
traded in an active market is determined using valuation techniques which maximize the use of observable market data and rely as little
as possible on entity-specific estimates. If all significant inputs required to fair value an asset are observable, the Valuation is included
in Level 2.

In case of certain vehicles which
are not sold within one year from date of classification, the Company reassess the carrying value of the assets to adjust it for the realizable
value.

F-13

ZOOMCAR HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

2.Summary of Significant Accounting Policies (Continued)

xv.Impairment

Long-lived assets such as property
and equipment, right-of-use assets and intangible assets that are held and used by the Company are reviewed for impairment when events
or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. The Company monitors the long-lived
assets for impairment indicators on an on-going basis. If impairment indicators exist, the Company determines