Hirdaramani Annual Report 2024
Perhaps the most compelling section of the 2024 Annual Report is the Environmental, Social, and Governance (ESG) update. For Hirdaramani, sustainability is no longer a corporate social responsibility (CSR) checkbox; it is a competitive advantage.
The report spotlights the Group’s journey toward Net Zero, documenting tangible reductions in carbon intensity. Hirdaramani has long been a pioneer in this space, being one of the first in the region to embrace carbon-neutral manufacturing facilities. The 2024 report expands on this legacy, detailing investments in:
The report argues convincingly that sustainability is no longer a cost center but a revenue driver. As global legislation (such as the EU’s Green Deal) tightens regulations on textile imports, Hirdaramani’s early adoption positions it as a partner of choice for compliance-conscious Western brands.
Perhaps the most forward-looking section of the Annual Report covers the Group’s digital journey. Hirdaramani is actively transitioning from traditional manufacturing to "smart factories."
The 2024 report details investments in:
This pivot is essential for competing in a market that demands speed and transparency.
Here’s a professional LinkedIn-style post regarding the Hirdaramani Annual Report 2024:
📢 Introducing the Hirdaramani Annual Report 2024 hirdaramani annual report 2024
We are proud to release our Annual Report for 2024 — a testament to a year defined by purposeful growth, resilience, and innovation.
This report goes beyond numbers. It captures how we continued to advance responsible manufacturing, digital transformation, and the unwavering commitment to our people and planet.
🌱 Key highlights include:
As a family-owned leader in apparel manufacturing, Hirdaramani remains dedicated to shaping a sustainable and inclusive future for the global fashion industry.
🔗 Read the full report here: [Insert link to report]
Let’s continue building the future — responsibly, together.
#Hirdaramani #AnnualReport2024 #Sustainability #ApparelManufacturing #ESG #Innovation #Transparency #FutureReady Perhaps the most compelling section of the 2024
The Hirdaramani Group is a major Sri Lankan conglomerate with a century-long legacy in the apparel industry and diversified interests in renewable energy, leisure, and retail. The primary focus of their 2024 reporting is their Apparel Sustainability Report, which outlines their path to net-zero and significant environmental achievements. 2024 Sustainability Performance
The 2024 Sustainability Report highlights the group's "Future First" roadmap:
Net-Zero Milestone: Hirdaramani became the first Sri Lankan organization to have its Net-Zero Science Based Targets approved by the SBTi in 2024.
Renewable Energy: On-site renewable power generation reached 16.2 GWh annually, primarily through the Suryadhanavi Rooftop Solar Project.
Carbon Reduction: Current solar initiatives save approximately 13,400 tonnes of carbon per year. Emission Targets:
Near-Term: Aiming for a 54.6% reduction in Scope 1 and 2 emissions by 2033.
Net-Zero: Committed to a 90% reduction in Scope 1, 2, and 3 emissions by 2050. Strategic Investments & Awards The report argues convincingly that sustainability is no
Mihila Tex: The group invested $30 million in a cutting-edge textile mill in Pannala, Sri Lanka, to strengthen the local value chain.
Presidential Environment Awards 2024: Hirdaramani Apparel secured four awards, including a Gold Award for its Mihila facility and honors for its Ja-ela/Sithro and Seethawaka washing plants. Retail Sector: ODEL PLC (Financial Year 2023/24)
Financial data for the group's retail arm, ODEL PLC, for the year ended March 31, 2024, reflects a challenging economic environment:
Revenue: LKR 7.30 billion (compared to LKR 8.25 billion in 2023). Loss for the Year: LKR 4.21 billion. Total Assets: LKR 30.67 billion. Key Locations and Operations
Sri Lanka: 16 facilities are certified LEED or green buildings.
Global Reach: Operations span 6 countries including Vietnam, Bangladesh, and Ethiopia, with over 55,000 associates. Expand map Hirdaramani Apparel Sustainability Report 2024