Cyber Crime
Cyber Attack at Raymond: IT Teams, Authorities Probe Massive Breach
Mumbai: Leading textile and apparel conglomerate Raymond Limited has confirmed a cyber-attack on its IT infrastructure on February 19. The company swiftly isolated affected systems to safeguard core business operations, ensuring no disruption to customer-facing platforms or store networks.
In a regulatory filing, Raymond’s Company Secretary and Compliance Officer, Rakesh Darji, assured that its retail and physical store operations remain unaffected. While the filing did not disclose details about the threat actors or confirm any ransomware involvement, the company stated that “necessary precautions and protocols” were activated to mitigate the impact.
Despite the security breach, Raymond reassured stakeholders that its critical manufacturing and retail systems are secure, with no significant service disruptions reported. The company’s cybersecurity experts, along with internal IT teams, are conducting forensic analysis to assess the attack’s entry points, duration, and potential data exposure risks. Additionally, India’s cybersecurity agency CERT-In has been notified, and an investigation is underway.
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The incident underscores the increasing importance of robust cybersecurity measures for large corporations, particularly those with complex supply chains. It serves as a reminder for businesses to continuously strengthen their cyber defenses against evolving threats.
Raymond’s disclosure aligns with India’s updated cybersecurity regulations, which require prompt reporting of major IT incidents to regulatory bodies and investors. The company adhered to compliance protocols by notifying stock exchanges under scrip codes BSE:500330 and NSE:RAYMOND shortly after detecting the breach.
While the full extent of the attack is yet to be determined, Raymond’s proactive response and transparency reflect its commitment to maintaining business continuity and safeguarding customer trust.