On 25th February 2025, Ruchi Infrastructure Limited informed the stock exchanges about the ongoing copper cable theft incidents affecting its windmills in Madhya Pradesh. The theft, which initially occurred in early February 2025, continued to disrupt power generation during the calendar days of 24th and 25th February, and the company reported that the material impact had exceeded the threshold of materiality set under Regulation 30(4)(i)(c) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The theft, involving essential copper cables from the windmills, directly impacted the power generation capacity of the company's renewable energy facilities. The wind power generation process is continuous, and the loss was calculated by comparing the power generated in the corresponding period of the previous year. As of the latest update, the financial loss caused by these incidents is less than Rs. 1 crore, but the disruption continues due to the ongoing restoration process of the affected windmills.

Ruchi Infrastructure noted the challenges faced in estimating the full impact of the theft. Several factors contribute to this uncertainty, including the uncertain restoration timeline, insurance claims, and other restoration complexities. The company also highlighted that wind thrust variability, the potential for fluctuating wind conditions, and continued uncertainty about the restoration timeline were key reasons for this difficulty in assessing the full economic damage.

The company has stressed that it is working actively to restore the affected facilities and that the impact on operations continues. Additionally, the insurance claims related to the theft incidents are still under processing, and any potential reimbursement is yet to be confirmed.

The update also reiterates that the company’s ongoing tax litigations, which were previously disclosed in their financial reports, have not been affected by this incident. The pending tax disputes continue to be contested legally and do not meet the materiality threshold required for a more detailed update under the recent SEBI guidelines.

Despite the ongoing challenges, the company is committed to mitigating the losses and is hopeful that full restoration of the affected windmills will be completed shortly. They also emphasized the importance of disclosures in such cases, in compliance with the latest SEBI circular that mandates updates on material events impacting financial parameters.

This copper cable theft serves as a reminder of the vulnerabilities in renewable energy infrastructure, which, while growing in importance, still faces risks related to security and theft. Ruchi Infrastructure remains dedicated to overcoming these challenges and minimizing disruptions to its energy production, reaffirming its commitment to contributing to India's renewable energy goals despite these setbacks.

In conclusion, the company is carefully navigating the restoration process while keeping stakeholders updated on the ongoing developments. Further updates will be provided as the restoration efforts progress, and the full financial and operational impact is better understood.

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