eMudhra Cuts FY27 Guidance After TLS Security Incident

EMUDHRA eMudhra Limited has reduced its FY27 revenue and profit guidance following a security incident involving its global TLS certificate business. The revision highlights the potential business and reputational impact of the incident. FY27 Guidance Revised Downwards Revenue Guidance: Reduced from ₹825 crore to approximately ₹800 crore. PAT Guidance: Reduced from ₹137 crore to approximately ₹125 crore. Revenue Reduction: ₹25 crore. PAT Reduction: ₹12 crore. What Happened in the TLS Certificate Incident? In October 2026, a security researcher identified weak cryptographic keys in eight intermediate TLS Certificate Authorities operated by eMudhra. Following the discovery: The affected intermediate certificates were revoked. Major browser root programmes distrusted the affected certificate hierarchy. The company decided to exit the publicly trusted TLS certificate business. KPMG was appointed as an independent external reviewer. The company stated that its infrastructure was not compromised and no customer data was breached. The SSL/TLS certificate business contributed approximately 1% of eMudhra's global revenue. However, the broader impact on customer confidence and international business relationships has affected its guidance. Investor Perspective The guidance reduction is a near-term negative, particularly because the security incident could affect customer confidence and international business relationships. However, the core business continues to demonstrate healthy growth, with H1 revenue increasing 23.4% and PAT rising 27.1%. Disclaimer: This content is for educational and informational purposes only and should not be considered investment advice or a recommendation to buy or sell any security. Investors should conduct their own research and consider their risk profile before making any investment decision.