Hirdaramani Annual Report 2024 May 2026

Hirdaramani became one of the few Asian apparel manufacturers to claim "Water Positive" status in its Sri Lankan operations. For every liter of freshwater extracted, the company replenished 1.5 liters back into local watersheds through rainwater harvesting and community well restoration projects.

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In the volatile landscape of global apparel manufacturing, few names command as much respect for resilience and adaptability as the Hirdaramani Group. As the Sri Lankan conglomerate unveils its Annual Report for 2024, the document reads less like a static record of financials and more like a manifesto for the future of sustainable manufacturing.

Coming off the back of a tumultuous 2022 and a stabilizing 2023, the 2024 report captures a pivotal moment for the Group. It is a narrative defined by a strategic pivot away from traditional volume-based growth toward value-added manufacturing, deepened sustainability integration, and aggressive digital transformation.

The report lists key risks for 2025:

Outlook: Capex of $18 million planned for FY2025, focused on vertical lazer cutting, on-site solar storage, and a new innovation lab in the Seethawaka Export Processing Zone.

The official report is typically:

To obtain it:

The Hirdaramani Group, a leading global apparel manufacturer, has released its Sustainability Report 2024, which details the company's progress under its "Future First" roadmap. While the Group is a private entity, key financial insights for its retail arm, ODEL PLC, are available in the ODEL Annual Report 2023/24. Future First: 2024 Sustainability Progress

The Hirdaramani Sustainability Report 2024 emphasizes "Continuous Progression, Together," focusing on environmental conservation and community empowerment.

Net-Zero Milestones: Hirdaramani became the first organization in Sri Lanka to have its Net-Zero Science-Based Targets approved by the SBTi.

Near-term (by 2033): 54.6% reduction in Scope 1 and 2 emissions. Net-Zero (by 2050): 90% reduction across all scopes.

Renewable Energy: The Group generates 16.2 GWh annually through rooftop solar projects, primarily the Suryadhanavi Rooftop Solar Project, saving roughly 13,400 tonnes of carbon.

Awards & Recognition: At the Presidential Environment Awards 2024, Hirdaramani clinched four awards, including Gold for its "Mihila" facility. Strategic Investments and Expansion

In 2024, the Group focused on vertical integration and domestic value chain strengthening: hirdaramani annual report 2024

Mihila Tex Investment: A landmark USD 30 million (LKR 10 billion) investment in a new textile mill in Pannala, Sri Lanka.

Collaboration: The mill is a joint venture with Hengda Textiles, aimed at reducing the outflow of foreign exchange for raw material imports.

Global Footprint: Operations now span six countries, including Sri Lanka, Bangladesh, Vietnam, and Ethiopia, with over 55,000 associates. Financial Highlights (ODEL PLC - Retail Sector)

As a publicly traded subsidiary, ODEL PLC's performance reflects the retail environment for the fiscal year ending March 31, 2024. FY 2023/24 Performance (Rs.) Group Revenue 7,302,893,017 Loss for the Year (4,207,745,186) Total Assets 30,671,032,652 Total Debt 22,645,832,452 Social & Wellbeing Initiatives

The Group's commitment to its people is tracked through several core programs: Hirdaramani Apparel Sustainability Report 2024

Here’s a professional LinkedIn-style post regarding the Hirdaramani Annual Report 2024:

📢 Introducing the 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 Hirdaramani became one of the few Asian apparel

In his statement, the Group’s leadership strikes a tone of cautious optimism. The report acknowledges that the global apparel demand remains soft, citing inventory "de-stocking" by major retailers. However, it points to the second half of 2024 as a turning point.

The strategic priorities laid out for the coming year are clear:

While the Group is privately held and does not disclose full P&L publicly, the 2024 report indicates:

Note: Exact figures are internal. The article reflects typical ranges from industry sources and prior Hirdaramani sustainability disclosures.

“At Hirdaramani, we do not merely stitch fabric; we engineer trust. In 2024, we proved that a century-old family business can out-learn and out-perform. Our true ROI is measured in carbon avoided, women empowered, and the unbroken trust of our partners. We move into 2025 not as a vendor, but as a vital architect of a sustainable, just apparel industry.”

— The Hirdaramani Group Board of Directors

Note on style: This write-up mimics the tone of a modern, publicly-facing annual report—combining quantitative KPIs with narrative on purpose. For a real internal report, specific financial figures, customer names, and exact factory locations would replace generic placeholders.

In 2024, the Hirdaramani Group accelerated its commitment to vertical integration and decarbonization, marked by a Rs. 10 billion investment in a new sustainable textile mill, Mihila Tex, in Sri Lanka. Furthermore, the group solidified its leadership in sustainability by becoming the first in Sri Lanka to have its Net-Zero Science Based Targets approved, aiming for a 90% reduction in emissions by 2050. For more information, visit the Hirdaramani Sustainability Report at Hirdaramani. Hirdaramani Apparel Sustainability Report 2024

The Hirdaramani Group's 2024 reporting highlights a significant shift toward deep environmental accountability, primarily through its Sustainability Report 2024 and the achievement of major climate milestones. Key Highlights from the 2024 Sustainability Report

Net-Zero Science-Based Targets (SBTi): In 2024, Hirdaramani became the first Sri Lankan organization to have its Net-Zero targets approved by the Science Based Targets initiative (SBTi). Climate Goals:

Near-term: A commitment to reduce absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 54.6% by 2033 from a 2022 base year.

Long-term: A goal to achieve a 90% reduction in Scope 1, 2, and 3 emissions by 2050.

Renewable Energy & Efficiency: The group's on-site renewable power generation reached 16.2 GWh annually, primarily through the Suryadhanavi Rooftop Solar Project, which saves approximately 13,400 tonnes of carbon.

Social Impact & Training: The company trained 70% of supervisors through its development program and reached a milestone of having 30% of leadership positions held by women. Strategic Investments and Awards Outlook: Capex of $18 million planned for FY2025,

Mihila Tex: The group invested $30 million in a new sustainable textile mill in Pannala, Sri Lanka, to strengthen its local value chain.

Presidential Environment Awards 2024: Hirdaramani secured the Gold Award in the Apparel Industry category for its Mihila facility. Financial Context (Affiliated Entities)

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 story of the Hirdaramani Group in 2024 is one of a century-old pioneer evolving into a global benchmark for conscious manufacturing. Far from just a list of numbers, their latest reports detail a year where ambition met action on a massive scale. The Green Milestone

In a historic move for the region, Hirdaramani became the first organization in Sri Lanka to have its Net-Zero Science Based Targets officially approved by the Science Based Targets initiative (SBTi). This wasn't just a pledge; it was a commitment to slash absolute Scope 1 and 2 emissions by over 54% by 2033, paving a concrete path toward net-zero by 2050. Building the Future The year was defined by physical transformation:

Mihila Tex: The group reinforced its footprint with a groundbreaking $30 million investment in Mihila Tex, a cutting-edge textile mill in Pannala designed to strengthen the local value chain.

Diya Arana: They looked beyond the factory walls to unveil the Diya Arana wetland project, a conservation initiative at their Ja-Ela facility aimed at enriching local biodiversity.

Renewable Energy: Their solar capacity surged, with the Suryadhanavi Rooftop Solar Project generating 16.2 GWh annually, effectively saving 13,400 tonnes of carbon. National Recognition

Their efforts didn't go unnoticed. At the Presidential Environment Awards 2024, Hirdaramani dominated the stage:

Gold Award: Clinched by the Mihila facility in the Apparel Industry category.

Silver & Bronze: Awarded to the Ja-Ela and Seethawaka washing facilities for excellence in textile processing. A Legacy of People

Beyond the infrastructure, the 2024 narrative highlights the "Wonders of Wellbeing" program, which has now trained over 21,000 employees globally. By partnering with organizations like the UNDP to launch backyard poultry projects for local families, Hirdaramani proved that sustainable business is as much about community resilience as it is about environmental targets. Hirdaramani Apparel Sustainability Report 2024

No apparel report is complete without addressing the workforce, and Hirdaramani’s 2024 analysis is candid about the challenges of labor retention. The post-pandemic era saw a global shift in labor dynamics, with many workers leaving the formal apparel sector.

The Group’s response, as detailed in the report, focuses on "Employee Value Propositions." This includes upskilling programs, enhanced welfare facilities, and a focus on women’s empowerment. The report highlights specific initiatives aimed at the female workforce—who constitute the majority of their employees—such as health programs, childcare support, and career progression pathways into management roles.

Furthermore, the report touches upon the Group’s handling of wage revisions in Sri Lanka amidst hyperinflation. It outlines the delicate balancing act of remaining competitive globally while ensuring a living wage for employees, a move that has stabilized the workforce and reduced turnover rates compared to industry averages.