Yash Highvoltage Limited has disclosed a significant cyber fraud incident involving Rs. 2.10 crores under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transformer bushing manufacturer reported the incident to BSE Limited on 31st March 2026, detailing how fraudulent email communications led to misdirected payments to unidentified individuals.

Fraud Mechanism and Timeline

The cyber fraud involved sophisticated email impersonation targeting the company's regular business operations with a Chinese supplier. The company had placed orders for raw materials and input materials required for transformer bushing production when fraudulent communications began.

The fraudsters sent emails purportedly from the regular Chinese exporter requesting changes to bank account details and location. Despite the company's insistence on proper documentation, including mandates from the exporter and banker confirmations, the sophisticated fraud succeeded in deceiving the organization.

Financial Impact Breakdown

The total financial impact of Rs. 2.10 crores comprises two distinct components reflecting the partial nature of the transaction completion.

The company clarified that despite the financial loss, the incident has no material impact on its operations. The partial shipment of transformer bushing production materials was successfully received, ensuring continuity in manufacturing processes.

Investigation and Remedial Actions

Yash Highvoltage Limited has initiated comprehensive measures to address the fraud and prevent future occurrences. The company's response includes multiple strategic approaches:

Immediate Actions Taken:

• Internal investigation conducted by company team
• Formal complaint being filed with regulatory authorities
• Evaluation with bankers for fund recovery solutions per banking norms
• Review and strengthening of existing internal control mechanisms

Regulatory Compliance and Disclosure

The company's disclosure follows SEBI Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January 2026, ensuring full regulatory compliance. The detailed annexure provided comprehensive information about the fraud nature, timeline, persons involved, and estimated impact as required under regulations.

The incident involved no internal personnel, with all fraudulent activities attributed to unidentified individuals unrelated to the entity. This external nature of the fraud highlights the sophisticated cybersecurity challenges facing modern businesses in international trade operations.

Yash Highvoltage Limited has announced an upcoming analyst and institutional investor meet as part of its regulatory disclosure obligations. The company informed BSE Limited about the scheduled meeting through a formal communication dated March 16, 2026.

Meeting Details

The analyst and investor engagement is planned as a comprehensive physical plant visit, providing stakeholders with direct access to the company's operations and management.

Regulatory Compliance

The announcement was made pursuant to Regulation 30 read with Para A of Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Tushar J. Lakhpapurkar signed the disclosure document submitted to BSE Limited.

Company Profile

Yash Highvoltage Limited, formerly known as Yash Highvoltage Insulators Private Limited, operates as an ISO 9001:2015 certified manufacturer specializing in transformer bushings. The company maintains its corporate office at Ozone Complex, Sarabhai Compound, Subhanpura, Vadodara, while its registered office and manufacturing plant are located at Khakhariya, Halol-Savli Road, Vadodara, Gujarat.

The scheduled investor meet represents the company's commitment to maintaining transparent communication with its stakeholder community and providing direct access to its manufacturing facilities and operations.