eMudhra takes a 31% beating as security concerns trigger heavy selling
In a press release dated 21 October 2026, the company said a flaw during a key generation ceremony conducted on 30 April 2025 resulted in the creation of a second set of weak cryptographic keys alongside the original strong keys. The weak keys were published to browser root stores. An independent researcher recently found that the keys could potentially be reverse-engineered, possibly using AI-assisted techniques, and reported the issue to the root programs of Apple, Google, Microsoft and Mozilla.
eMudhra said its infrastructure had not been compromised and no data breach had occurred. It added that its physical and logical security controls remained intact. The company's Indian Digital Signature Certificate (DSC) and eSign businesses were unaffected, as they operate on infrastructure separate from its global TLS business.
The company said the affected global TLS business accounts for around 1% of its revenue. However, it acknowledged potential reputational risks that could not be quantified.
eMudhra is working with affected customers to provide replacement certificates and minimise disruption to critical services. It is also coordinating with browser root programs and investigating the root cause of the issue.
eMudhra provides digital identity, trust and security solutions to banks, enterprises and governments across more than 35 countries. Its product suite spans CertiNext (PKI and certificate lifecycle management), SecurePass (identity and access management, multi-factor authentication and converged identity), and PrivaTrust (data discovery and consent management for global data-privacy compliance and DSARs).
On a consolidated basis, eMudhra's net profit rose 29.22% to Rs 32.15 crore while net sales rose 29.48% to Rs 190.72 crore in Q1 June 2026 over Q1 June 2025.
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