Raymond

Summary

A cyber security incident affected some IT assets of Raymond, a fabric manufacturing, real estate, and engineering company. The firm reported that customer-facing operations and store operations were not impacted and continued to function normally. Upon detection, the company's internal technical team, alongside specialized cybersecurity experts and management, activated precautionary protocols to contain the breach. The organization stated it is investigating the matter while implementing appropriate containment and remediation measures in a controlled manner to address the incident.

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Description

Raymond, the well-known Indian textile and fabric manufacturing group that was founded in 1925 and later expanded into engineering and real estate sectors, disclosed a cybersecurity incident affecting some of its IT assets. The disclosure was made in early February 2025, with the news being reported on February 1, 2025. Following its demerger in 2024, which separated its lifestyle business into a distinct listed entity, Raymond Ltd continued to operate two core business divisions: real estate and engineering. The incident pertained to a portion of the company's internal IT infrastructure rather than its customer-facing services.

In its official communication regarding the incident, Raymond stated that none of its customer operations and store operations were affected, and confirmed that these operations continued to run normally without disruption. The company emphasized that its technical team, working alongside a specialised team of cybersecurity experts and supported by the management, responded promptly to the situation. Necessary precautions and protocols were initiated immediately to mitigate the impact of the security breach. The company indicated that it was actively investigating the matter and that appropriate containment and remediation actions were being carried out in a controlled manner to address the incident.

The specific nature of the cyberattack, the method of intrusion, the identity of the threat actors, and the exact IT assets that were compromised were not detailed in the publicly available reporting. Similarly, the timeline of when the incident was first detected, the duration of any unauthorized access, and whether any data was exfiltrated or encrypted remained undisclosed at the time of the report. Raymond's filing focused on reassuring stakeholders about operational continuity while signaling that a thorough investigation was underway with the assistance of external cybersecurity professionals.

Sources

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