Zoomcar Holdings (ZCAR) AI Stock Analysis

• Market Cap: $3.99M
• Dividend Yield: N/A
• Average Volume (3M): 34.01K
• Price to Earnings (P/E): <0.1
• Beta (1Y): 3.53
• Revenue Growth: 97.89%
• EPS Growth: -102.78%
• Country: US
• Employees: 191
• Sector: Financial
• Sector Strength: 82
• Industry: Rental & Leasing Services
• EPS (TTM): -4.80
• Shares Outstanding: 6,284,491
• 10 Day Avg. Volume: 45,817
• 30 Day Avg. Volume: 34,013
• PEG Ratio: <0.01
• Price to Book (P/B): -0.12
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -0.48
• Enterprise Value/Market Cap: 4.32
• Enterprise Value/Revenue: 0.47
• Enterprise Value/Gross Profit: 4.53
• Enterprise Value/Ebitda: -0.41
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 39 Underperform
• Price Target: $0.50 ▼(-16.67%Downside)

Zoomcar Holdings' overall stock score is heavily impacted by its financial instability, with ongoing losses and high leverage being significant concerns. Technical analysis indicates bearish momentum, and valuation metrics are weak, further weighing down the score.

Zoomcar Holdings Business Overview & Revenue Model

Company Description

Zoomcar Holdings, Inc. operates a marketplace for car sharing in India, Indonesia, and Egypt. It connects hosts with guests, who choose from a selection of cars for use at affordable prices, promoting smart transportation solutions. The company was founded in 2013 and is based in Bronxville, New York.

How the Company Makes Money

Zoomcar Holdings makes money through a commission-based revenue model where it charges a fee for each transaction facilitated via its platform. The company earns a percentage of the rental fee paid by the customer, which is shared with the vehicle owner. Additionally, Zoomcar offers subscription services for vehicle owners, providing them with tools and services to manage rental operations more effectively. The company may also generate additional revenue through partnerships with automotive companies, insurance providers, and other related services that enhance the value proposition for users. Key factors contributing to its earnings include the expansion into new markets, improving vehicle availability, and leveraging technology to optimize pricing and increase platform usage.

Zoomcar Holdings Financial Statement Overview

Summary

Zoomcar Holdings faces significant financial challenges, with persistent losses and high leverage. Despite some improvement in gross profit margin, negative equity and cash flow issues persist, indicating a need for strategic restructuring.

Income Statement

Zoomcar Holdings has been experiencing declining revenue with a negative revenue growth rate from 2022 to 2025. The gross profit margin improved in 2025 to 41.82% from negative figures in previous years, indicating potential operational improvements. However, the company has persistently high net losses, leading to a negative net profit margin of -281.43% in 2025. EBIT and EBITDA margins are also significantly negative, reflecting ongoing operational and financial challenges.

Balance Sheet

The balance sheet reveals significant instability with negative stockholders' equity of -25.35 million, indicating potential solvency issues. The debt-to-equity ratio cannot be calculated due to negative equity, suggesting high leverage. While the company has reduced total debt over the years, the overall financial position remains weak with an equity ratio of -473.36% in 2025, highlighting a potential risk of financial distress.

Cash Flow

Cash flows are under pressure, with negative operating cash flow and free cash flow consistently over the years, although there was a significant reduction in negative free cash flow in 2025 compared to 2022. The free cash flow to net income ratio is negative, further complicating the financial outlook. However, the company has been able to secure financing, which may support short-term liquidity.

Breakdown	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	9.11M	9.90M	8.83M	12.80M	10.23M
Gross Profit	3.81M	-434.36K	-11.85M	-12.49M	-9.60M
EBITDA	-20.49M	-32.10M	-59.61M	-24.96M	-10.89M
Net Income	-25.62M	-34.28M	-62.03M	-31.05M	-27.67M
Balance Sheet
Total Assets	5.36M	9.17M	16.46M	42.17M	51.50M
Cash, Cash Equivalents and Short-Term Investments	1.08M	1.79M	3.85M	26.78M	29.06M
Total Debt	13.94M	24.26M	41.98M	21.42M	52.03M
Total Liabilities	30.71M	42.86M	237.38M	205.73M	193.62M
Stockholders Equity	-25.35M	-33.69M	-246.03M	-188.67M	-167.24M
Cash Flow
Free Cash Flow	-9.08M	-22.34M	-36.36M	-34.30M	-12.93M
Operating Cash Flow	-9.08M	-22.20M	-36.27M	-31.66M	-12.87M
Investing Cash Flow	492.14K	814.00	3.90M	2.59M	6.44M
Financing Cash Flow	8.27M	20.20M	9.59M	26.83M	34.62M

Zoomcar Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.60
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ZCAR, the sentiment is Negative. The current price of 0.6 is below the 20-day moving average (MA) of 0.80, below the 50-day MA of 2.56, and below the 200-day MA of 64.91, indicating a bearish trend. The MACD of -0.48 indicates Negative momentum. The RSI at 34.36 is Neutral, neither overbought nor oversold. The STOCH value of 15.45 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ZCAR.

Zoomcar Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
R	69 Neutral	$7.00B	14.81	16.41%	1.91%	6.21%	47.05%
HRI	67 Neutral	$4.56B	30.61	9.60%	2.04%	8.34%	-63.02%
Sector *	61 Neutral	C$14.64B	6.10	22.26%	5.61%	27.38%	-22.40%
CAR	59 Neutral	$6.39B	8.26	78.26%	―	-2.78%	-296.07%
HEES	56 Neutral	$3.47B	38.00	15.74%	1.16%	-3.52%	-46.60%
HTZ	50 Neutral	$2.19B	―	-244.63%	―	-6.61%	-1516.07%
ZCAR	39 Underperform	$3.99M	<0.01	8.77%	―	97.89%	-102.78%

Zoomcar Holdings Corporate Events

Zoomcar Holdings Finalizes Convertible Notes Agreement

On June 24, 2025, Zoomcar Holdings, Inc. finalized two Securities Purchase Agreements with 1800 Diagonal Lending LLC and Boot Capital LLC, involving a private placement offering of convertible bridge notes totaling $513,760. The agreements include terms for interest rates, default conditions, and conversion options, potentially impacting the company’s financial flexibility and shareholder value.

Zoomcar Holdings Resolves Liquidated Damages with Investors

Zoomcar Holdings has entered into Securities Purchase Agreements with accredited investors for a private placement offering of common stock and warrants. On June 6, 2025, the company issued a settlement letter to resolve liquidated damages with certain investors, agreeing to issue 1,950,600 pre-funded warrants valued at $3,023,400. These warrants have an exercise price of $0.0001 per share and include provisions for penalties, beneficial ownership limitations, and adjustments for stock changes.

Zoomcar Holdings Appoints Deepankar Tiwari as New CEO

On May 2, 2025, Hiroshi Nishijima resigned as CEO of Zoomcar Holdings, Inc., with no disagreements cited. On May 9, 2025, Deepankar Tiwari was appointed as the new CEO, bringing over 25 years of experience in the automotive and mobility sectors, including roles at Tata Group and Uber Technologies. Tiwari’s appointment is expected to leverage his extensive industry experience and previous advisory role with Zoomcar India Private Limited to enhance the company’s strategic direction.

Zoomcar Holdings Transitions to OTCQX and OTCQB Markets

On May 8, 2025, Zoomcar Holdings announced its transition from the Nasdaq Global Markets to trading on the OTCQX Best Market and the OTCQB Venture Market. This move is expected to ensure continuity in trading of its common stock while enhancing transparency and visibility for investors. Zoomcar aims to list on a national exchange in the U.S. later this year, supporting its mission of providing affordable and flexible transportation solutions.

Zoomcar Holdings Restructures Board Committees Post-Resignation

On April 16, 2025, Madan Menon resigned from the board of directors and various committees of Zoomcar Holdings, Inc., with his departure not due to any disagreements with the company’s operations or policies. Subsequently, on April 21, 2025, the board restructured its committees, appointing new members to the Audit, Compensation, and Nominating and Corporate Governance Committees, ensuring continuity in governance.