Choksi Laboratories Limited, a listed analytical testing and R&D laboratory firm based in Indore, Madhya Pradesh, has informed the BSE Limited of a cyber-attack incident that occurred on 22nd May 2025, severely affecting the company’s computer systems and servers.

In a regulatory filing made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company disclosed that its IT infrastructure had been compromised and locked by unidentified cyber sources. The extent of the data breach and potential operational impact is under active assessment by the internal team.

Nature of the Incident

The company stated that the cyber-attack led to unauthorised access and system lockdown, potentially risking data integrity. While core business functions continue to operate, the company has acknowledged significant disruption in the back-office working, specifically in the finalisation of financial statements.

This could lead to a delay in the approval and publication of the audited financial results for FY 2024–25, originally scheduled to be reviewed by the Board of Directors on 29th May 2025.

The company has also filed an official complaint with the DCP Crime Branch under the Indore jurisdiction. A copy of the acknowledgment has been enclosed in the regulatory communication.

Company’s Statement

In the communication signed by Sunil Choksi, Managing Director, the company assured stakeholders that there was no material disruption to core operations. Essential services and customer-facing functions continue without interruption. The management has committed to providing further updates as the situation evolves.

The statement noted:

“Our team is actively working on resolving this issue, and we will keep you updated on our progress. We request you to kindly consider this sympathetically.”

Possible Delays in Financial Disclosures

The cybersecurity incident has disrupted the backend accounting and IT systems responsible for preparing the annual financial statements. The company cautioned that it may not be able to meet its deadline for FY25 financial results, scheduled for approval in the board meeting on 29th May 2025.

This is especially important considering SEBI’s strict timelines and the expectations of market participants for timely disclosures. However, given the force majeure nature of the incident, stakeholders may be understanding, especially in light of the company’s proactive and transparent approach to disclosure.

Cybersecurity Risks in India Inc.

This incident adds Choksi Labs to a growing list of Indian listed entities that have faced cyber threats and system breaches in recent years. As companies increasingly rely on digital systems for operations and compliance, the risk of ransomware, phishing, and server-side vulnerabilities has grown.

Experts suggest that SEBI may push for stronger cybersecurity frameworks among listed firms in the near future, including periodic stress testing, external audits, and immediate disclosure norms in case of IT breaches.

Market & Stakeholder Impact

Choksi Laboratories’ prompt and open disclosure of the cyber-attack is a positive sign of governance maturity. The company’s decision to inform exchanges immediately and involve cybercrime authorities shows its commitment to transparency and regulatory compliance.

Investors, auditors, and analysts will be closely watching the next move from Choksi Labs, especially the timing of financial disclosures and any changes to the board meeting schedule.

About Choksi Laboratories Limited

Choksi Laboratories Limited is a NABL-accredited and ISO-certified company specialising in analytical testing, calibration, validation, and R&D services. It serves a wide array of sectors, including pharmaceuticals, food, water, chemicals, and environment monitoring.

Headquartered in Indore, with pan-India reach, the company is committed to scientific excellence, regulatory compliance, and quality assurance.

Conclusion

The cyber-attack incident on 22nd May 2025 presents a serious challenge for Choksi Laboratories Limited, particularly with respect to IT infrastructure and compliance reporting. While core operations remain unaffected, the management has warned of a potential delay in the FY25 financial results.

With prompt action, transparent disclosure, and ongoing updates promised by the company, stakeholders remain cautiously optimistic. More clarity is expected in the coming days as the company evaluates the extent of the breach and recovery status.

For further information
Choksi Laboratories Limited
Managing Director: Mr. Sunil Choksi
DIN: 00155078
Date: 22nd May 2025

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