Hirdaramani Annual Report 2024 Site

Aligned with these targets, the Group has adopted a comprehensive decarbonisation strategy. Key measures include setting annual energy reduction targets, investing in renewable energy, and integrating low‑carbon technologies across its operations. The Group has also prioritised clean energy in line with UN Sustainable Development Goals 7 (Affordable and Clean Energy) and 13 (Climate Action).

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The path forward is not without its challenges. The Sri Lankan apparel industry, while growing in 2024, is still recovering from the record highs of 2022. Furthermore, monthly export data for December 2024 showed a modest 2% year-on-year growth, with exports to the US and UK declining 4% and 10% respectively, indicating continued market volatility. The entire industry also continues to grapple with global economic uncertainty, evolving consumer values, and the need for constant innovation.

The report acknowledges that these investments suppressed short-term profit distribution, but the board argues they are essential for supply chain localization requested by Nike, Lululemon, and Decathlon. hirdaramani annual report 2024

The 2024 report highlights a core corporate purpose that relies on four operational pillars:

From its origins in the early 1900s in Sri Lanka, the Hirdaramani Group has expanded into a global powerhouse. Today, it employs over 55,000 associates across a footprint spanning Sri Lanka, Bangladesh, Vietnam, and Ethiopia.

The Hirdaramani Group's 2024 Sustainability Report, "\u201cFuture First: Progressing Purposefully,\u201d" highlights a shift toward rigorous, science-based environmental accountability, marking a major milestone as the first Sri Lankan organization to have its Net-Zero Science Based Targets approved by the SBTi. Key strategic actions include a $30 million investment in the Mihila Tex sustainable textile mill and a target to reduce Scope 1 and 2 emissions by 54.6% by 2033. For more details, visit Hirdaramani Hirdaramani apparel Hirdaramani Apparel Sustainability Report 2024 Aligned with these targets, the Group has adopted

Data for Hirdaramani’s specific financial performance indicates a strong fiscal year, supported by this favorable industry context, with reports noting profitability of over . This financial health provides the resources necessary to continue investing heavily in its long-term sustainability and innovation goals. As the apparel industry moves towards greater transparency and circularity, Hirdaramani is well-positioned to lead, having already aligned its next phase of the Future First roadmap (2026-2030) with UN SDGs and national climate targets.

Driving Transformation: Insights from the Hirdaramani Annual and Sustainability Report 2024

: Their "Suryadhanavi Rooftop Solar Project" now generates 16.2 GWh of renewable energy annually , saving approximately 13,400 tonnes of carbon. 📢 The path forward is not without its challenges

The group also announced a pilot program for "on-demand manufacturing" in Vietnam, aiming to reduce overproduction waste by 60% by the end of 2025.

From its pioneering investments in LEED-certified green factories to its industry-leading SBTi approval, Hirdaramani has consistently demonstrated that it is not just manufacturing apparel; it is manufacturing a more responsible future for the industry. The 2024 documentation—its performance, targets, and investments—clearly outlines a company that views sustainability as the fundamental standard for its operations and an essential catalyst for its long-term growth. The story of Hirdaramani in 2024 is one of a legacy company, powered by a century of experience, accelerating its transition to a purpose-driven powerhouse.