Kansai Nerolac Ltd., a leading paint manufacturing company in India, has faced a ransomware incident that came to light late on a Sunday evening. The company disclosed the cyberattack, revealing that its IT infrastructure had been targeted by a ransomware attack.
While the financial impact remains undisclosed, Kansai Nerolac’s statement to exchanges reassured stakeholders that a swift and comprehensive response had been initiated. The company’s technical and cybersecurity teams, alongside management, promptly implemented precautionary measures to mitigate the impact of the breach, emphasizing their dedication to restoring affected systems and providing updates on progress.
In the wake of this ransomware incident, Kansai Nerolac’s focus on resolution and transparency is evident. The company underscored its commitment to addressing the situation by actively working to restore impacted systems and diligently keeping stakeholders informed of developments.
Despite the uncertainty surrounding the financial aftermath, Kansai Nerolac’s proactive approach in managing the breach indicates a dedicated effort to safeguarding its operations and reputation.
Earlier this month, Kansai Nerolac reported positive business indicators with nearly 5 percent sales growth during the June quarter compared to the previous year. The net profit had surged significantly due to a low base, marking a noteworthy shift in financial performance.
Additionally, the company’s operating profit for the quarter demonstrated a notable year-on-year increase of 34 percent, amounting to Rs 348.7 crore. Although Kansai Nerolac Paints’ shares remain relatively stable at Rs 328.40, the stock has exhibited a promising upward trend, registering a 13 percent rise on a year-to-date basis.