Granules India warns of significant loss of revenue, profitability due to cyber attack

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.

Read also: Information security incident occurred at Granules India

The company said on June 29 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.

Granules India Limited, incorporated in 1991 is a vertically integrated fast-growing Indian pharmaceutical company headquartered in Hyderabad. The Company is among the few pharmaceutical companies in the world to be present in the manufacturing of the entire value chain — from Active Pharmaceutical Ingredients (APIs), Pharmaceutical Formulation Intermediates (PFIs) and Finished Dosages (FDs). Its products are being distributed to over 300 plus customers in regulated and semi-regulated markets with a global presence extending to over 80 plus countries with offices across India, U.S. and U.K. The Company has 7 manufacturing facilities out of which 6 are located in India and 1 in USA and has regulatory approvals from US FDA, EDQM, EU GMP, COFEPRIS, WHO GMP, TGA, K FDA, DEA, MCC and HALAL.

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