Paracetamol maker Granules India flags significant operations hit from cyber attack

June 30, 2023 9:43 am

[Source: Reuters]

Granules India (GRAN.NS) warned of a significant loss of revenue and profitability due to a cyber security attack that the pharmaceuticals company faced late last month.

Due to significant changes in its IT systems, the IT security incident caused a major disruption in its business operations, the Paracetamol maker said in an exchange filing.

On May 25, Granules India reported the information security incident, adding that impacted IT assets affected have been isolated.

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The company said on Thursday that a ransomware group had claimed responsibility for the incident.

The company said it had managed to restore production to near-normal levels at present, however it flagged backlogs and delays in the clearance of materials for quality system approvals for dispatching the products.