Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 404

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 404
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786,572 as at March 31, 2024 and March 31, 2023 respectively. The Company has collected $177,590 as advance from customers during the year ended March 31, 2024.

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 $96,710 and $260,705 as at March 31, 2024 and March 31, 2023, respectively in relation to Loyalty program.

Revenue recognized during the year ended March 31, 2024 and March 31, 2023 respectively which was included in contract liabilities balance at the beginning of the period is $341,585 and $77,226 respectively.

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F-93

ZOOMCAR HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

| 26 | Finance costs |

The components of finance costs were as follows:

(In USD)

|                                                 |     |   |      March 
        31, 
       2024 |     |   |      March 
        31, 
       2023 |
|:------------------------------------------------|:----|:--|-----------:|:----|:--|-----------:|
| Finance costs -other than related parties       |     |   |            |     |   |            |
| Interest on vehicle loans                       |     | $ |    392,933 |     | $ |    620,211 |
| Interest on finance leases                      |     |   |    625,523 |     |   |    844,424 |
| Interest on subcontractor liability             |     |   |     93,869 |     |   |     96,762 |
| Change in fair value of preferred stock warrant 
 liability                                       |     |   |  5,284,494 |     |   |          - |
| Discount on issue of Atalaya Note               |     |   |    632,595 |     |   |          - |
| Change in fair value of Atalaya Note            |     |   |  1,632,996 |     |   |          - |
| Change in fair value of SSCPN                   |     |   |          - |     |   |  9,312,177 |
| Change