: Hirdaramani formally expanded its collaboration with Cascale's Better Buying platform in 2024. By implementing structured feedback loops, the group bridges the gap between factory-floor capacities and global buyer purchasing practices, optimizing supply chain agility. Environmental Stewardship: Historic SBTi Approval
A key highlight of the 2024 reporting period is the official validation of Hirdaramani’s net-zero targets by the . This makes Hirdaramani the first Sri Lankan apparel enterprise to secure this verified status. 1. Renewable Energy & Carbon Savings
: Aiming for a 54.6% reduction in Scope 1 and 2 emissions by 2033. hirdaramani annual report 2024
– The Hirdaramani Group, one of Sri Lanka’s oldest and largest apparel and textile conglomerates, released its Annual Report for the financial year 2024 , highlighting steady operational resilience amid global economic headwinds, accelerated digital transformation, and deeper commitments to environmental and social governance (ESG).
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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.
The 2024 report dedicates a full section to “Zero Carbon Ready by 2030” . Key achievements: – The Hirdaramani Group, one of Sri Lanka’s
The Hirdaramani Group reported a significant increase in revenue, with a 15% growth in turnover compared to the previous year, reaching LKR 35 billion (approximately USD 190 million). The group's profitability also saw a substantial improvement, with a 20% increase in net profit, amounting to LKR 5.5 billion (approximately USD 30 million).
To ensure accountability, Hirdaramani has structured its decarbonization path into dual, time-bound checkpoints: :
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).
: The mill is a joint venture with Hengda Textiles , aimed at reducing the outflow of foreign exchange for raw material imports.