Hirdaramani Annual Report 2024 〈SECURE 2027〉
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
Net Zero: The group has already achieved net-zero greenhouse gas emissions from energy across its Sri Lankan manufacturing operations. hirdaramani annual report 2024
While the private Hirdaramani Group does not publish full public financial statements, its publicly listed affiliate, ODEL PLC, released an Annual Report 2023/24 showing a group revenue of approximately LKR 7.3 billion for the year ended March 31, 2024. Hirdaramani Apparel Sustainability Report 2024 The Hirdaramani Group's 2024 Sustainability Report
- Revenue Stability: Maintained steady revenues through diversified product mix (Activewear, Intimates, Shirting, and Outerwear), with growth in technical activewear categories.
- Operational Efficiency: Improved gross margins by 4.2% through AI-driven fabric cutting optimization and energy cost reduction via rooftop solar expansion.
- Export Volumes: Processed over 48 million garment units across Sri Lanka, Bangladesh, and Vietnam, maintaining 98% on-time-in-full (OTIF) delivery.
- Capital Expenditure: Invested $12 million in Industry 4.0 technologies, including automated material handling and sewing room IoT sensors.
In 2024, the Hirdaramani Group prioritized sustainable infrastructure and net-zero carbon emissions, highlighted by a Rs. 10 billion investment in a new green textile mill in Pannala, Sri Lanka. The group became the first in Sri Lanka to achieve SBTi-approved net-zero targets and continued to expand its renewable energy portfolio. For more details, review the Hirdaramani Sustainability Report 2024 Hirdaramani group annual report "\u201cFuture First: Progressing Purposefully
- Global Economic Uncertainty: The company faced significant challenges due to global economic uncertainty, including fluctuations in exchange rates and commodity prices.
- Competition: The company faced increased competition in several markets, particularly in the apparel and textile divisions.
The Hirdaramani Sustainability Report 2024 emphasizes "Continuous Progression, Together," focusing on environmental conservation and community empowerment.
