Raymond IT Systems Hit by Cyber Attack, Authorities Investigating

Textile and apparel conglomerate Raymond Limited confirmed a cybersecurity breach affecting portions of its IT infrastructure on Wednesday, February 19, 2025, according to regulatory filings submitted to the BSE and NSE stock exchanges. 

The Mumbai-based company, whose operations span fabric manufacturing, branded apparel, and retail stores, stated the incident required isolation of compromised systems but emphasized core business functions remain operational.

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. 

The assurance aims to mitigate concerns about potential supply chain interruptions or service delays for brands like Raymond Ready-to-Wear, Ethnix, and Park Avenue. 

Cybersecurity experts and internal IT teams are conducting forensic analysis to determine the attack’s entry points, duration, and data exposure risks.

While the filing did not identify the threat actors or specify whether ransomware or data exfiltration occurred, Raymond confirmed activating “necessary precautions and protocols” to limit the incident’s impact. 

The company’s reference to “containment and remediation actions” suggests efforts to eradicate malicious activity from affected systems before gradual restoration. 

Such measures align with standard incident response frameworks for minimizing operational downtime during cyber crises.

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. 

The strategic isolation of non-critical IT assets reflects a containment strategy to protect essential manufacturing and retail systems, which handle real-time inventory management and point-of-sale transactions.

Industry analysts highlight Raymond’s cyber resilience as critical given its ₹8,000 crore market presence and complex supply chain integrating 1,300+ retail outlets with textile mills. 

The attack’s timing coincides with peak demand for summer collections, raising stakeholder questions about contingency plans for order processing delays.

However, company representatives reiterated that “operations are running normally,” indicating robust business continuity protocols.

Authorities from India’s Computer Emergency Response Team (CERT-In) have been alerted, though no public statement has been issued regarding investigative support. 

Raymond’s reliance on external cybersecurity partners underscores the growing corporate trend of collaborating with specialized firms to counter sophisticated threats.

As remediation progresses, shareholders will monitor potential financial implications from recovery costs or liability claims.

The company’s swift disclosure aims to preempt speculative market reactions, with Darji affirming adherence to “controlled” response measures to stabilize systems. 

With critical infrastructure reportedly secure, Raymond joins an expanding list of Indian enterprises fortifying cyber defenses amid rising digital threats.

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