Raymond hit by cyber-attack, internal IT teams and authorities Investigating the breach
By MYBRANDBOOK
Leading textile and apparel conglomerate, Raymond Limited has confirmed a significant cyber-attack that has impacted its IT infrastructure on February 19th. The company swiftly isolated affected systems, to ensure that its core business functions and customer-facing platforms remain operational without disruption.
In its disclosure to exchange authorities, Raymond’s Company Secretary and Compliance Officer Rakesh Darji clarified that customer-facing platforms and physical store networks continue functioning without disruption.
While the filing did not identify the threat actors or specify if any ransomware or data exfiltration occurred, Raymond confirmed activating “necessary precautions and protocols” to limit the incident’s impact.
Despite the breach, the company has assured stakeholders that its critical operations, including retail networks and manufacturing systems, are secure, and there have been no significant service delays.
Cybersecurity experts and internal IT teams are conducting forensic analysis to determine the attack’s entry points, duration, and data exposure risks. Authorities from India’s CERT-In have also been notified, and investigations are ongoing to determine the scope and potential data exposure risks.
This incident highlights the growing importance of robust cybersecurity protocols, especially for large-scale organizations with complex supply chains. It serves as a reminder to businesses of all sizes to continuously fortify their cyber defenses.
Notably, the breach disclosure follows India’s updated cybersecurity guidelines mandating prompt reporting of significant IT incidents to regulatory bodies and investors.
By notifying exchanges under scrip codes BSE:500330 and NSE:RAYMOND within hours of detection, Raymond demonstrates compliance with transparency protocols despite the ongoing investigation.
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