Zoomcar Holdings (ZCAR)
OTHER OTC:ZCAR
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Zoomcar Holdings
(OTC:ZCAR)
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Rating:41Neutral
Price Target:
$0.11
▲(38.75% Upside)
Action:ReiteratedDate:04/22/26
The score is weighed down primarily by very weak financial strength (deeply negative equity and weak cash generation) and a negative corporate event that constrains financing options. Technicals show some near-term momentum, but valuation signals are limited by a negative P/E and no dividend support.
Positive Factors
Revenue rebound & margins
A sharp TTM revenue rebound (+94.2%) combined with a ~52% gross margin and positive ~11.9% EBIT margin reflects materially improved unit economics. These durable improvements indicate the platform can scale revenue while covering variable costs, supporting margin sustainability as supply utilization and demand grow.
Negative Factors
Very weak balance sheet
Negative equity of roughly -27.4B and debt materially exceeding reported assets indicate severe solvency pressure and constrained financial flexibility. Over months this undermines ability to fund operations organically or via traditional equity financing without significant restructuring, elevating long-term refinancing risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue rebound & margins
A sharp TTM revenue rebound (+94.2%) combined with a ~52% gross margin and positive ~11.9% EBIT margin reflects materially improved unit economics. These durable improvements indicate the platform can scale revenue while covering variable costs, supporting margin sustainability as supply utilization and demand grow.
Read all positive factors
Zoomcar Holdings (ZCAR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.06M
Dividend YieldN/A
Average Volume (3M)15.48K
Price to Earnings (P/E)―
Beta (1Y)4.19
Revenue Growth0.18%
EPS Growth98.85%
CountryUS
Employees191
SectorIndustrials
Sector Strength72
IndustryRental & Leasing Services
Share Statistics
EPS (TTM)-0.06
Shares Outstanding7,151,343
10 Day Avg. Volume12,544
30 Day Avg. Volume15,485
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)-0.10
Price to Sales (P/S)0.27
P/FCF Ratio-0.27
Enterprise Value/Market Cap4.69K
Enterprise Value/Revenue1.02
Enterprise Value/Gross Profit1.95
Enterprise Value/Ebitda8.60
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Zoomcar Holdings Business Overview & Revenue Model
Company Description
Zoomcar Holdings (ZCAR) is a leading car rental and mobility solutions provider based in India, specializing in self-drive car rentals, fleet management, and subscription-based vehicle services. The company operates in the growing shared mobility ...
How the Company Makes Money
Zoomcar’s core revenue model is tied to facilitating self-drive vehicle rentals through its marketplace platform. The company generally makes money from (1) commissions or platform fees charged on completed bookings between customers and vehicle s...
Zoomcar Holdings Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
12
Very Negative
Cash Flow
14
Very Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.87B | 9.11M | 9.90M | 8.83M | 12.80M | 10.23M |
| Gross Profit | 2.55B | 3.81M | -434.36K | -11.85M | -12.49M | -9.60M |
| EBITDA | 577.28M | -20.49M | -32.13M | -59.61M | -24.96M | -10.89M |
| Net Income | 9.33B | -25.62M | -34.28M | -62.03M | -31.05M | -27.67M |
Balance Sheet | ||||||
| Total Assets | 2.77B | 5.36M | 9.17M | 16.46M | 42.17M | 51.50M |
| Cash, Cash Equivalents and Short-Term Investments | 208.18M | 1.08M | 1.79M | 3.85M | 26.78M | 29.06M |
| Total Debt | 5.17B | 13.94M | 24.26M | 41.98M | 21.42M | 52.03M |
| Total Liabilities | 30.20B | 30.71M | 42.86M | 237.38M | 205.73M | 193.62M |
| Stockholders Equity | -27.43B | -25.35M | -33.69M | -246.03M | -188.67M | -167.24M |
Cash Flow | ||||||
| Free Cash Flow | -4.66M | -9.09M | -22.34M | -36.36M | -34.30M | -12.93M |
| Operating Cash Flow | -4.66M | -9.08M | -22.20M | -36.27M | -31.66M | -12.87M |
| Investing Cash Flow | -1.04M | 492.14K | 814.00 | 3.90M | 2.59M | 6.44M |
| Financing Cash Flow | -824.72M | 8.27M | 20.20M | 9.59M | 26.83M | 34.62M |
Zoomcar Holdings Technical Analysis
Positive
0.08
Price Trends
0.08
Positive
0.10
Positive
0.24
Negative
Market Momentum
0.01
Negative
69.24
Neutral
73.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ZCAR, the sentiment is Positive. The current price of 0.08 is below the 20-day moving average (MA) of 0.09, above the 50-day MA of 0.08, and below the 200-day MA of 0.24, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 69.24 is Neutral, neither overbought nor oversold. The STOCH value of 73.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ZCAR.
Zoomcar Holdings Risk Analysis
Zoomcar Holdings disclosed 69 risk factors in its most recent earnings report. Zoomcar Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
The founder/former CEO has initiated a civil complaint against the Company contesting the reasons for his termination and has raised certain other claims with regards to his shareholding and compensation for termination of his employment. Q3, 2024
Zoomcar Holdings Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $9.82B | 21.79 | 16.39% | 1.75% | -0.07% | 4.18% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | $9.42B | -53.96 | 1.22% | ― | 3.90% | -77.41% | |
51 Neutral | $4.09B | -64.81 | -5.35% | 1.44% | -4.77% | -287.56% | |
51 Neutral | $1.99B | -2.13 | 193.77% | ― | -6.02% | 74.03% | |
43 Neutral | $6.38B | -5.08 | 32.05% | ― | 0.72% | 69.91% | |
41 Neutral | $1.06M | -0.25 | -67.63% | ― | 0.18% | 98.85% |
* Industrials Sector Average
ZCAR
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Zoomcar Holdings Corporate Events
Business Operations and StrategyLegal ProceedingsPrivate Placements and Financing
Zoomcar Faces New York Court Restraining Order on Financing
Negative
Apr 21, 2026
On April 14, 2026, the Supreme Court of the State of New York issued a temporary restraining order in a case brought by Reimer Family Partnership, L.P. and others against Zoomcar Holdings, Inc. The order restricts the company, pending a May 7, 202...
Business Operations and StrategyRegulatory Filings and Compliance
Zoomcar Extends Warrant Exchange Offer to May 11
Neutral
Apr 15, 2026
Zoomcar Holdings, Inc. announced on April 15, 2026, that it has extended the expiration of its previously launched exchange offer for certain outstanding warrants into common stock to 5:00 p.m. Eastern Time on May 11, 2026. The extension is intend...
Business Operations and StrategyRegulatory Filings and Compliance
Zoomcar Consolidates Warrant Exchange Offers Into Single Process
Neutral
Mar 12, 2026
On March 11, 2026, Zoomcar Holdings, Inc. terminated in its entirety a warrant-for-stock exchange offer it had launched on February 27, 2026, which would have allowed eligible holders of common stock purchase warrants issued under a February 25, 2...
Business Operations and StrategyPrivate Placements and Financing
Zoomcar Launches Voluntary Warrant-for-Stock Exchange Offer
Neutral
Feb 27, 2026
On February 27, 2026, Zoomcar Holdings, Inc. launched a voluntary issuer exchange offer for common stock purchase warrants issued in a private placement completed on February 25, 2026 and outstanding as of February 26, 2026. Eligible warrant holde...
Private Placements and FinancingRegulatory Filings and Compliance
Zoomcar Holdings Completes Private Warrant Financing Round
Neutral
Feb 26, 2026
On February 25, 2026, Zoomcar Holdings closed a previously announced private placement of 939 common stock purchase warrants to verified accredited investors, raising gross proceeds of about $939 with no placement agent or commissions. The warrant...
Business Operations and StrategyPrivate Placements and Financing
Zoomcar Announces Private Placement of Common Stock Warrants
Neutral
Feb 19, 2026
On February 19, 2026, Zoomcar Holdings, Inc. launched a private placement to offer common stock purchase warrants to verified accredited investors under an exemption from U.S. securities registration requirements. Each warrant is exercisable for o...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.