Prepayments and other current assets

12 Months Ended

Mar. 31, 2026

Prepayments And Other Current Assets

5 Prepayments and other current assets

	As of March 31, 2026		As of March 31, 2025
Balance with statutory authorities⁽ⁱ⁾		2,587,264		1,496,055
Unbilled revenue⁽ⁱⁱ⁾		5,827,805		6,201,942
Advances given⁽ⁱⁱⁱ⁾		1,635,623		1,555,929
Other receivables^(iv)		47,835		-
Prepayments		673,595		1,100,063
Forward purchase agreement^(v)		6,800,000		8,628,301
Deposits		260,997		110,305
		17,833,119		19,092,595

i)	Balance with statutory authorities represents withholding taxes and value added tax receivable from local tax authorities.

ii)	Unbilled revenue is net of allowances amounting to $1,809,347 and $0 as on March 31, 2026 and March 31, 2025 respectively.

iii)	Advances given include:

a) $1,106,447 and $1,135,108 of advances to suppliers as of March 31, 2026 and March 31, 2025, respectively.

b) $336,381 and $128,654 of advances to employees as of March 31, 2026 and March 31, 2025, respectively. Advances to employees include related party balances of $70,456 and $71,382 as of March 31, 2026 and as of March 31, 2025 respectively.

c) $97,049 in advances were extended to Viansh Insurance Brokers Private Limited towards a Business Purchase Agreement entered by one of the Company’s subsidiary Good Insurance Brokers Pvt Ltd in India.

iv)	Other receivable includes allowances for doubtful receivables of $2,800,000 as of March 31, 2026 and March 31, 2025.

v)	Forward purchase agreement

On August 25, 2023, the Company entered into an agreement with (i) Meteora Capital Partners, LP (“MCP”), (ii) Meteora Select Trading Opportunities Master, LP (“MSTO”), and (iii) Meteora Strategic Capital, LLC (“MSC” and, collectively with MCP and MSTO, “Seller”) (the “Forward Purchase Agreement” or “FPA”) for OTC Equity Prepaid Forward Transactions.

Roadzen Inc.

Notes to the consolidated financial statements

(in US $, except share count)

The FPA represents the recognition of the cash payments to the Seller of $42.11 million (including prepayment of $42.06 million and the reimbursable transaction cost of $0.05 million) and the FPA with regard to 3,204,407 shares (recycled shares) and 702,255 shares (FPA subscription shares).The fair value of the FPA receivable is comprised of the Prepayment Amount (as defined in the FPA, $42.11 million) and is reduced by the economics of the downside provided to the Sellers ($35.31 million) and the estimated consideration payment at the Cash Settlement Payment Date ($6.8 million).

A contractual dispute arose between the Company and the Seller, regarding alleged breaches of the terms of the FPA. In April 2025, the Company initiated legal proceedings against the Seller, citing that despite negotiated safeguards, Meteora sold shares without honoring its payment obligations or providing the required notices under the FPA. The Seller subsequently filed a counterclaim, alleging breach of contract by the Company on the grounds of non-registration of FPA Subscription shares. The dispute includes disagreement over the number of outstanding shares with the Seller as reported by the Company versus those disclosed in the Seller’s filing of Schedule 13G/A with the Securities Exchange Commission, and the termination date of the FPA.

Assumptions used in calculating estimated fair value of Forward Purchase Agreement as of March 31, 2025 is as follows:

Volatility	142.66	%
Risk-free rate	4.31	%
Dividend yield	0.00	%
Strike price	10.77
Remaining term (years)	2 years