Q4 2024 Zoomcar Holdings Inc Earnings Call
Gilead ended March 31, 'twenty 'twenty fight I mean God.
Anirudh Lamba: I'm Anirudh Lamba, Head of Investor Relations at ZoomCar. And I'll be moderating today's session. Before we begin, I'd like to draw your attention to the disclaimer slide. During this presentation, we will make forward-looking statements concerning upcoming events and our expectations regarding the company's business and financial performance. Each time we do, we will try to identify these statements with words such as expect, believe, anticipate, or other words that identify potential events. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those stated in the forward-looking statement. Please consider the forward-looking statements contained in the earning press release issued this morning on June 30, 2025, and stated during this conference call, as well as the risk factors and uncertainties described in our annual and quarterly filings with the Securities and Exchange Commission.
Speaker Change: I'm, a little head up Investor relations at <unk>.
Speaker Change: And I'll be moderating today's session.
Speaker Change: Before we begin I'd like to draw your attention to the disclaimer flight.
During this presentation, we will make forward looking statements concerning upcoming event and that was it.
Speaker Change: Technician regarding the company's business.
Speaker Change: <unk> financial performance.
Speaker Change: Each time, we do bigger statewide amplified these statements with.
Speaker Change: Such as expect believe anticipate or other words that identify potential even.
Speaker Change: These forward looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those stated in the forward looking statements.
Please consider the forward looking statement contained in the earnings press release issued this morning on June could be 'twenty 'twenty fight and stated during this conference call as well as the risk factors and uncertainties described in our annual and quarterly filings with the Securities and Exchange Commission.
Anirudh Lamba: During our presentation, we may discuss or disclose non-GAAP measures. These non-GAAP measures are not intended to replace the presentation of our financial results in accordance with U.S. GAAP. The presentation of non-GAAP information is intended instead to provide additional information to investors to facilitate the comparison of past and present results. Any forward-looking statements we make today are based on assumptions, which we believe to be reasonable as of today. We undertake no obligation to update these statements as a result of future events. Please refer to our SEC filings for a detailed understanding of these risk factors.
Speaker Change: During our presentation, we may discuss or disclose non-GAAP measures.
Speaker Change: These non-GAAP measures are not intended to replace the presentation of our financial results in accordance with U S. GAAP.
Speaker Change: The presentation of non-GAAP information is intended instead to provide additional information to investors.
Speaker Change: The comparison of past and present.
Speaker Change: Any forward looking statements we make today are based on assumption.
Speaker Change: Which we believe to be reasonable as of today.
Speaker Change: We undertake no obligation to update these statements as a result.
Speaker Change: Your chairman.
Speaker Change: Please refer to our SEC filings for a detailed understanding of the sector.
Deepankar Tiwari: With that, let me hand it over to our CEO, Deepankar Tiwari. Thank you, Anirudh. Hello, everyone, and thank you for taking the time to join us today.
Speaker Change: With that let me hand, it over to our CEO be banker.
be banker: Thank you and Hello.
Speaker Change: Hello, everyone and thank you for taking the time to join us today.
Deepankar Tiwari: I am pleased to report that fiscal year ending March 31st, 2025 has been a milestone year for ZoomCars. We close the fiscal year with a contribution profit of USD 4.25 million compared to a loss of USD 0.98 million incurred during the fiscal year ending March 2024. This also marks our 6th consecutive quarter of positive contribution profit, a clear signal that our model is working. Our booking numbers grew 10% year over year. but we are especially encouraged by the quality of that growth. repeat users grew by a significant 86 percent and today of all the users booking our car on our platform 13 percent of them are booking it more than once which is much higher than the seven percent that they were in the previous fiscal year.
Speaker Change: I am pleased to report that fiscal year, ending March 31, 2025 has been a milestone year for zumba.
Speaker Change: We closed the fiscal year with a contribution profit of USD four point to $5 million.
Speaker Change: Compared to a loss of USD 0.9, 8 million incurred during the fiscal year ending March 2024.
Speaker Change: This also marks.
Speaker Change: Sixth consecutive quarter of positive contribution Crawford.
Speaker Change: Signal that.
Speaker Change: Model is working.
Speaker Change: Our booking numbers grew 10% year over year.
Speaker Change: But we are especially encouraged by the quality of that growth.
Speaker Change: <unk> users grew by a significant 86% and today of all the users booking a cod on our platform 13% of them are looking at more than one which is much higher than the 7% that they were in the previous fiscal year.
Deepankar Tiwari: Also, the high quality host retention, that is hosts who are rated 4.5 plus on a scale of 5, jumped up by almost 58% to 49% of the total hosts onboarded on the platform during the current fiscal year, ending March 31st, 2025, as compared to only 31% hosts during the previous comparable fiscal year. This points to a strong platform loyalty on both sides of the marketplace.
Speaker Change: Also the high quality host retention that has horses, who are rated four five plus on a scale of five jumped up by almost 58% to 49% of the total host on boarded on the platform. During the current fiscal year, ending March 31, 2025, as compared to only 31%.
Speaker Change: During the previous comparable fiscal year <unk>.
Speaker Change: This points to a strong platform loyalty on both sides of the marketplace.
Deepankar Tiwari: Our focus this year has been very clear, improve the customer experience, drive cost retention, and deliver on both revenue growth and profitability. We have made progress on all fronts. Our average guest rating climbed by 13 percent to 4.7 on a scale of 5 during the current fiscal year ending March 31st, 2025. And we continue to optimize costs through dynamic pricing, smarter incentives, and operational improvements and efficiencies.
Speaker Change: Our focus this year has been very clear.
Speaker Change: Improve the customer experience drive retention and delivered on both revenue growth and profitability. We have made progress on all fronts.
Speaker Change: The average guest rating plan by 13% to $4 seven on a scale of fire during the current fiscal year ending March 31 2025.
Speaker Change: And we continue to optimize cost through dynamic pricing smarter incentives and operational improvements and efficiencies.
Deepankar Tiwari: Next slide. We focused heavily on improving customer experience on both sides of the marketplace, both for guests and hosts, because this drives retention and profitability. Some key initiatives include doubling our customer support capacity, deploying Gen-AI tools for faster resolution, rolling out machine learning driven dynamic pricing and loyalty programs. increasing high quality supply through partnerships and fulfillment centers. These efforts have led to our repeat user rate growing by 86% year-over-year and high-quality cost retention growing by 58% year-over-year.
Speaker Change: Next slide.
Speaker Change: We focused heavily on improving customer experience on both sides of the marketplace, both forget and hosts because this drives retention and profitability. Some key initiatives include doubling our customer support capacity deploying gen AI tools for faster resolution rolling out <unk>.
Speaker Change: Learning driven dynamic pricing and loyalty programs increase.
Speaker Change: Increasing high quality supply through partnerships and fulfillment centers. These efforts have led to a repeat user base growing by 86% year over year at high quality call protection retention growing by 58% year over year.
Deepankar Tiwari: Next slide. During the fiscal year 2024-25, we saw our sixth straight quarter of positive contribution margins. Our focus on customer experience and operational leanness continues to pay off. We are seeing encouraging improvements in both retention and the booking quality.
Speaker Change: Next slide.
Speaker Change: During the fiscal year 2024, 25, we saw a sixth straight quarter of positive contribution margins, our focus on customer experience and operational readiness continues to pay off we are seeing encouraging improvements in both retention and the booking quality.
Sachin Gupta: I now hand over to our Chief Financial Officer Sachin Gupta to provide an update on our fundraising efforts and the financial results for the fiscal year ending 31st March 2025. Thank you, Deepankar. Thanks, everyone, for taking time out today for this earnings call of Zoomcar. We successfully raised $16.5 million in gross proceeds during the fiscal year ended March 31st, 2025, through private placements. These proceeds are being strategically deployed towards debt repayment and supporting business growth. Additionally, we used our $30 million private placement round to settle outstanding liabilities and resolve key litigations positioning the company on a stronger financial footing.
Speaker Change: I now hand over to our Chief Financial Officer, Sachin Gupta to provide an update on our fundraising efforts and the financial results for the fiscal year ending 31 March 2025.
Sachin Gupta: Thank you the bunker.
Speaker Change: Thanks, everyone for taking time out today for this earnings call.
Speaker Change: Paul.
Speaker Change: We successfully the $16 5 million in gross proceeds during the fiscal year ended March 31, 2022 private placements.
Speaker Change: These proceeds are being strategically deployed towards debt repayment and supporting business growth. Additionally, we used $30 million private placement route to sell certain outstanding liability and resolve key litigations positioning the company on a stronger financial footing.
Sachin Gupta: This has set the stage for an accelerated growth as we secure further capital.
Speaker Change: This has set the stage for accelerated growth has been secured for the capital.
Sachin Gupta: We are actively pursuing additional fundraising over the next few quarters and are also engaged in ongoing discussions to restructure our remaining debt, with the aim of reducing near-term cash flows and improving the long-term financial sustainability of the Over the next slide, we will, let me take you through the key operational and financial metrics. All the numbers presented here are for the fiscal year ending March 31st 2025 as compared to the fiscal year ended March 31st 2024 unless otherwise mentioned. Our bookings were approximately $427,000 for the fiscal year ended March 31st, 2025, as compared to a total booking of $388,000 for the previous comparable fiscal year, representing a 10% year-over-year growth.
Speaker Change: We are actively pursuing additional fundraising over the next few quarters and are also engaged in ongoing discussions to restructure our remaining debt with the aim of reducing near term cash flows and improving the long term financial sustainability of the business.
Speaker Change: Over the next slide we will let me take you through the key operational and financial metrics. All the numbers presented here are for the fiscal year ending August 31, 2025 as compared to the fiscal year ended March 31, 2020, unless otherwise mentioned.
Speaker Change: Our bookings were approximately 427000 for the fiscal year ended March 31, 2025, as compared to total bookings of 388000 for the previous comparable fiscal year <unk>.
Speaker Change: Presenting a 10% year over year growth.
Sachin Gupta: A gross booking value stood at $25.28 million for the Fiscal Year ended March 31, 2025 compared to $26.72 million for the previous comparable period. Revenues came in at $9.11 million compared to $9.90 million in the previous year, while our loss from operations declined significantly by 67% to $10.4 million, down from $31.67 million in the prior fiscal year. One of the key highlights has been our contribution profits, which significantly improved to $4.25 million for the fiscal year ended March 31st, 2025, versus a loss of $0.98 million for the previous fiscal year ended March 31st, 2024. This significant improvement underscores the strength of our underlying business fundamentals.
Speaker Change: Gross booking value stood at $25 million to $8 million for the fiscal year ended March 31, 2025, compared to 20 672 million for the previous comparable period.
Speaker Change: Revenues came in at 9.11 million compared to $9 $999 million in the previous year, while our loss from operations declined significantly by 67% to $10 4 million down from 37 31.
Speaker Change: Six 7 million in the prior fiscal year.
Speaker Change: One of the key highlight has been our contribution profits with significantly improved to $4 million to $5 million for the fiscal year ended March 31, 2025, whats the lasso.
Speaker Change: Zero point $98 million for the period.
Speaker Change: And at March 31, 2024.
Speaker Change: This significant improvement underscores the strength of our underlying business fundamentals.
Sachin Gupta: To provide a perspective, what this means is that our contribution margin was 47% of the net revenue for the current fiscal year end date, March 31st, 2025, up from a negative 10% of revenue during the fiscal year end date, March 31st, 2024, and in absolute dollar terms. What we have achieved is approximately $10 for every booking served by our platform during the current fiscal year, whereas we were losing approximately $2.5 for every booking served by the platform during the previous fiscal year. So that's almost an improvement of $12.5 for every booking served from previous fiscal year to current fiscal year.
Speaker Change: To provide a perspective.
Speaker Change: What this means is that our contribution margin.
Speaker Change: <unk> was 47% of the net revenue for the current fiscal year ended March 31, 2025 up from a negative 10% of revenue during the fiscal year ended March 31st impulse in 'twenty.
Speaker Change: And in absolute dollar terms.
Speaker Change: What we have achieved is approximately $10 four a brief bookings.
Speaker Change: Our buyer platform during the current fiscal year.
Speaker Change: We're losing approximately two and a half dollar plenty of people who served by the platform during the previous fiscal year. So that's almost an improvement of 12 and a half dollar for every booking suite.
Speaker Change: From previous fiscal year to kind of fiscal year.
Sachin Gupta: Adjusted EBITDA loss also narrowed down to $9.91 million compared to $17.85 million in the fiscal year ended, 31st March 2024.
Speaker Change: Our adjusted EBITDA loss also narrowed down to.
Speaker Change: <unk> $991 million compared to 17, eight $5 million in the fiscal year ended 31 March 2024.
Sachin Gupta: The next, in the next slide, we would like to draw your attention to adjusted EBITDA, another non-GAAP, another non-GAAP matrix. Another non-GAAP metric, which the management belief provides an understanding of how the company has been performing and also provides an insight on the overall operating efficiency the company has been able to achieve across the organization. Our adjusted EBITDA continues to show an upward trend. This improvement reflects stronger contribution margins, cost control, and a path to profitability, which is achievable in the near term.
Speaker Change: The next in the next slide we would like to draw your attention to adjusted EBITDA and other non-GAAP and other non-GAAP metrics.
Speaker Change: Another non-GAAP metric, which the management believes the whites and understanding of how how the company.
Speaker Change: How the company has been performing and also quite an insight on the overall operating efficiency of the company has been able to achieve across the organization.
Speaker Change: Adjusted EBITDA continues to show an upward trend.
Speaker Change: This improvement reflects stronger contribution margins cost control and a path to profitability, which is achievable in the near term.
Sachin Gupta: The next couple of slides, slide 11 and 12, provides a detailed gap to non-gap reconciliation for both the non-gap metrics, which the management believes provides an understanding on how these metrics are arrived at. These non-gap metrics should be read in conjunction with the other US gap metrics, which will be reported by way of 10K filing, which will be filed later in the day-to-day. These six metrics, which are highlighted here, reflect the transformation we have executed over the past year. We've improved bookings, strengthened host retention, doubled our repeat usage rate, and turned contribution margins significantly positive for each booking or guest served.
Speaker Change: The next couple of slides slides 11, and 12 provide a detailed GAAP to non-GAAP reconciliations for both the non-GAAP metrics, which management believes provides an understanding on how these metrics are right back. These non-GAAP metrics should be read in conjunction with the other U S government, which.
Speaker Change: It has been reported by the of 10-Q filing which will be filed later in the day to day.
Speaker Change: These six metrics, which are highlighted yet reflect the transformation, we have executed over the past year, leaving.
Speaker Change: We've improved bookings.
Speaker Change: Host retention doubled our repeat usage rate and turned contribution margins significantly positive for each booking rguest soaked.
Sachin Gupta: and all of this while cutting across operational losses significantly across the organization. The turnaround was not accidental. It's a result of disciplined execution and sharper focus on profitability.
Speaker Change: And all of this while cutting across operational losses significantly across the organization there.
Sachin Gupta: The turnaround was not accidental it's the result of disciplined execution and sharper focus on profitability.
Sachin Gupta: But we are not stopping here. The foundation is now set and our next phase is about scaling this model. through a higher quality supply, smarter demand generation, and deeper platform trust. What excites us is how replicable this playbook is. If FY25 was the infection point, FY26 is where the compounding begins.
Speaker Change: But we're not stopping here. The foundation is now set in our next piece is about scaling this model.
Speaker Change: Through our highest quality supply smarter demand generation and depot platform plus what excites us is how replicable display bouquets.
Speaker Change: FY 'twenty was the inflection point FY 'twenty six.
Speaker Change: Israel the compounding begins.
Sachin Gupta: Thank you, Sachin.
Sachin Gupta: Thank you Sachin.
Anirudh Lamba: We'll now move to the question and answer section of today's session. Over the past few days, we have received a number of questions from our shareholders and analysts. We have reviewed and consolidated the most commonly asked ones, and we'll take a few moments now to address them directly. These cover key areas around performance, strategy, and what's ahead for Zoom.
Speaker Change: We'll now move to the question and answer section of today's session.
Speaker Change: Past few days, we have received a number of questions from our shareholders and analysts.
Speaker Change: We have reviewed and consolidated the most commonly asked one and will take a few.
Speaker Change: Now to address them directly these cover key areas around performance strategy and what's ahead for zoom Guy.
Anirudh Lamba: The first question is for Deepankar. Deepankar has been a part of the mobility industry in India for more than two decades. First with Tata Motors and then with Uber, both of which are mobility giants.
Speaker Change: The first question is about the bunker.
Speaker Change: The bank has been a part of the mobility industry in India for more than two decades first with Tata Motors.
Speaker Change: And then with Uber, both of which are mobility Diane.
Deepankar Tiwari: Deepankar, what propelled you to join Zoomcar as the CEO? Thanks, Anirudh. So, I've known Zoomcar and its founding team since their inception back in 2013. And I'd also had the opportunity to partner with Zoomcar during my time at Tata Motors and Uber Technologies over the years. So, thus, I've known the company well from the outside. But more importantly, I deeply believe in the mission that Zoomcar is undertaking, which is to bring access to personal mobility to India's young demographic. In India, there is a cultural shift that is happening, which is to be more experiential in nature rather than being an owner.
Speaker Change: The banker what propelled you to join zoom got as the CEO.
Speaker Change: Thanks Angela.
Speaker Change: No.
Speaker Change: I've known Zheng card and its founding team since their inception back in 2013.
Speaker Change: And I'd also had the opportunity to partner with zoom during my time at Tata Motors, and Uber technologies over the years, So I've known the company from the outside but more importantly, and I deeply believe in the mission that room guided undertaking which is to bring access to personal mobility.
Speaker Change: To India's young demographics in India. There is a cultural shift that is happening which is to be more experiential in nature, rather than being an owner and now with greater disposable income the trend lines are very clear access to bolster the ability is deeply required while ownership of gas not necessarily so.
Deepankar Tiwari: And now with greater disposable incomes, the trend lines are very clear. Access to personal mobility is deeply required, while ownership of cars, not necessarily so. So this is where a marketplace fits in perfectly, rather uniquely. And I see a huge headroom of growth for Zoomcar in India and subsequently in other emerging markets. So seeing all this, I was very excited to be part of the growth story of Zoomcar and be part of this journey. And that's what, in short, propelled me to be part of this great story. Thanks Deepankar.
Speaker Change: So this is where our marketplace fits in perfectly rather uniquely.
Speaker Change: And I see a huge headroom of growth for zoom God and then subsequently in other emerging markets. So seeing all this.
Speaker Change: I was very excited to be part of the growth story of zoom got it and be part of this journey and that's what in short prepared me too.
Speaker Change: Part of this great story.
Speaker Change: Thanks, the Banca.
Sachin Gupta: I think the next one is for Sachin. Sachin, can you provide more details about the fundraising progress and debt restructuring? Sure, so we need a gross amount of $16.5 million and a net amount of $9.5 million by way of issuance of equity shares through private placement during the fiscal year ended March 31st, 2020. The primary use of these proceeds has been to repay debts and fund business growth. We are working on raising more debts to invest in the growth of our business. In addition to this, we have been in active discussions to restructure our existing debt, which includes a mix of extended repayment schedules, one-time settlements, and exploring equity-based settlements.
Speaker Change: The next one is for certain I.
Speaker Change: Can you provide more details about the fundraising progress and debt restructuring.
Speaker Change: Sure. So we do use a gross amount of $16 5 million and a net amount of $9 5 million or <unk> issuance.
Speaker Change: Issuance of equity shares through private placement during the fiscal year ended March 31 2025.
Speaker Change: The primary use of these proceeds has been to repay debt and fund business growth.
Speaker Change: We are working on raising more debt to invest in the growth of our business.
Speaker Change: In addition to this we have been in active discussions to restructure our existing debt, which includes a mix of extended repayment should use one time settlements and exploring equity be settlements.
Sachin Gupta: Just to provide a perspective, our total loss from operation was about $10.4 million, and our total liability reduced by approximately $12 million during the current fiscal year ended, March 31, 2025, against a net fund raise of only $9.5 million, which was made possible due to extensive restructuring of the legacy debts that we have been carrying from the past. Now, we continue to pursue this in the current fiscal year as well. This, we believe, has been a significant step which will enable us to use the planned capital raise to be extensively used to fuel the growth of the business.
Speaker Change: Just to provide a perspective.
Speaker Change: Our total loss from operation was about $10 $4 million and our total liabilities reduced by approximately $12 million. During the current fiscal year ended March 31, 2025 against the net fundings of $29 5 million.
Speaker Change: This was made possible due to extensive restructuring of the legacy debt that we have been getting from the past.
Speaker Change: So we continue to pursue this in the current fiscal year as well.
Speaker Change: We believe has been a significant step which will enable us to use.
Sachin Gupta: The planned capital needs to be extensively used to fuel the growth of the business.
Sachin Gupta: and create long-term sustainable value for all the stakeholders associated with the company.
Sachin Gupta: And create long term sustainable value for all the stakeholders associated with the company.
Sachin Gupta: Thank you, Sachin.
Sachin Gupta: Thank you Sachin.
Deepankar Tiwari: The next question, please provide an update on your listing status and any future relisting plans. Yeah, let me take that one. So we continue to work towards relisting and are in discussions with the relevant stakeholders over the next couple of quarters, while timelines depend on market conditions and some of the regulatory approvals.
Speaker Change: The next question.
Speaker Change: Please provide an update on your listings data and any future delisting plan.
Speaker Change: Yes, let me take that one so we continue to work towards re listing and are in discussions with the relevant stakeholders over the next couple of quarters.
Speaker Change: While timelines depend on market conditions, and some of the regulatory approvals. This remains a key priority and a key focus area for us and we will be sharing updates as and when they start materializing.
Deepankar Tiwari: This remains a key priority and a key focus area for us, and we will be sharing updates as and when they start materializing.
Deepankar Tiwari: The next question, what are management's top priorities for the near term? I think our priorities are very clear, one is to expand high quality supply to meet the growing demand. So we have been very focused on that.
Speaker Change: The next question.
Speaker Change: Management's top priorities for the near term.
Speaker Change: I think.
Speaker Change: These are very clear.
Speaker Change: One is to expand high quality supply to meet the growing demand. So we are really very focused on that.
Deepankar Tiwari: We are working to really deepen customer engagements by improving guest and the host experience on the platform. And we continue to be very sharp-honed on driving profitability through cost discipline and operating efficiency. So these are the three fundamental core areas that we are really focusing on. And we believe that by focusing on these areas, we will position Zoomcar for a sustainable growth and a long-term value creation. I think that's very, very important for the company to move forward, sustainable growth and long-term value creation. So focus on these three elements is going to be a key priority.
Speaker Change: We are working to really deepen customer engagement by improving guest and the hosts experience on the platform and.
Speaker Change: And we continue to be really shop worn on driving profitability through cost discipline and operating efficiency. So these are the three fundamental core areas that we are really focusing on and we believe that by focusing on these areas. We will position zoom guard for a sustainable growth.
Speaker Change: And our long term value creation, I think thats very very important too.
Speaker Change: For the company to move forward sustainable growth and long term value creation. So we're focused on these three elements is going to be a key priority.
Deepankar Tiwari: And the final question, is Zoomcar exploring any strategic M&A opportunities or partnerships to accelerate growth or consolidated leadership in the Indian mobility market? Yes. We are actively exploring multiple strategic options.
Speaker Change: And the final question.
Speaker Change: Is doomed got exploring any strategic M&A opportunities or partnerships to accelerate growth our consolidated leadership in the Indian mobility market.
Speaker Change: Yes, we are actively exploring multiple strategic options.
Deepankar Tiwari: As you may know, the Indian mobility space is at its pivotal inflection point, and we believe there are strong opportunities for consolidation, especially in the self-drive and asset-slide mobility models. So, we are currently in early-stage discussions with a few prominent mobility players, which include some of our B2B fleet partners, rental platforms, adjacent ecosystem enablers, and so on. The goal is to unlock synergies in fleet utilization, in guest acquisition, and the overall shared infrastructure. So, we are approaching these conversations very thoughtfully, prioritizing long-term alignment and platform efficiency.
Speaker Change: As you May know the Indian mobility space is as its pivotal inflection point and we believe there are strong opportunities for consolidation, especially in the self drive an asset light mobility models. So we are currently in early stage discussions with a few prominent mobility players, which.
Speaker Change: Include some of our B to B, three partners rental platforms and ecosystems.
Speaker Change: System Enablers zone, the goal is to unlock synergies and fleet utilization and guest acquisition and.
Speaker Change: The overall our shared infrastructure. So we are approaching these conversations very thoughtfully prioritizing long term alignment and platform efficiencies. So any move that we will make will be rupert.
Deepankar Tiwari: So, any move that we will make will be rooted in our mission to build a lean, trust-first mobility marketplace at scale. So, that's the thought process with which we are going ahead with these conversations.
Speaker Change: Our mission to build a lean trust first mobility marketplace at scale. So that's the thought process with which we are going ahead with these conversations.
Deepankar Tiwari: Thank you, Deepankar, and thank you, Sachin. Thank you, everyone who's joined.
Speaker Change: Thank you the bankers and thank you Sachin.
Speaker Change: Thank you everyone who has joined.
Anirudh Lamba: This concludes Zoomcar's FY 2024-2025 earnings call. For more details, please refer to our press release published earlier in the day, 10K to be filed with SEC during the day, and earnings material available on our investors' relations site. If you have any additional questions, feel free to reach out to us at investorsatzoomcar.com.
Speaker Change: This concludes zoom cast FY 'twenty 'twenty four 2025 earnings call for more details. Please refer to our press release published earlier in the day 10.
Speaker Change: 10-K to be filed with the SEC during the day and earnings material available on our Investor Relations site. If you have any additional questions.
Speaker Change: Feel free to reach out to us at Investor <unk> Com.
Anirudh Lamba: Have a great day. Goodbye.
Speaker Change: Have a great day.
Speaker Change: Goodbye.