A subsidiary of Tata Group, Tata Technologies, was targeted in a ransomware attack that compromised some of its IT systems, the company disclosed on Friday in an incident report to BSE.
Tata Technologies, based in Pune, India, focuses on product development and digital solutions in the automotive, heavy machinery and aerospace industries. It is a global company with activities in Asia, North America, and Europe that range from manufacturing solutions to product lifecycle management.
Official communication stated that the ransomware incident caused a temporary suspension in some of its IT services. Its client delivery services were unaffected and remained fully functional during the attack. The company has restored the suspended services since then.
“There has been no disruption to our operations, and we continue to deliver services to our customers seamlessly. We will provide updates as appropriate and appreciate your patience as we work through this situation with the highest level of diligence and responsibility, “ a Tata Technologies spokesperson told Candid.Technology.
It is unclear when the ransomware attack happened and the extent of its damage.
The report, directed to BSE Limited and National Stock Exchange of India Limited, was signed by Vikrant Gandhi, the company secretary of Tata Technologies. “Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Company has become aware of a ransomware incident that has affected a few of our IT assets,” the company said. “Further detailed investigation is underway in consultation with experts to assess the root cause and to take remedial action as necessary.”
The company underlined active efforts to mitigate the potential risks of the attack by reaffirming its commitment to maintaining cybersecurity and data protection standards. The news comes as India witnesses an increase in ransomware attacks by 55% in 2024, aimed at the industrial sector.
The full scope of the incident is currently an ongoing investigation to understand the security measures that need to be placed to defend against cyberattacks in the future. The company said, “Further detailed investigation is underway in consultation with experts to assess the root cause and to take remedial action as necessary.”
The company, which outsources digital transformation and engineering solutions, reassured its stakeholders that the attack’s aftermath was being actively dealt with. The ransomware attack highlights the growing challenges for organisations, mainly in the technology and engineering sectors, where data security and continuity of services are essential.
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