: 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
: The group announced a landmark LKR 10 billion (approx. USD 30 million) investment in a new state-of-the-art textile mill in Pannala, Sri Lanka. This facility is designed to strengthen the local value chain, reduce foreign exchange outflows for raw materials, and integrate advanced water recycling and purification systems.
The story of Hirdaramani in 2024 is one of "Continuous Progression, Together". It’s the tale of a family business that survived a century by remembering that while the clothes change, the commitment to people and the planet must remain as steady as Parmanand’s first stitch. Hirdaramani group annual report
This framework, approved in 2024, covers Hirdaramani’s global footprint in Bangladesh, Sri Lanka, and Vietnam. , said the approval reinforced the company's long-standing commitment to doing the right thing and its corporate purpose of “Continuous Progression, Together”. hirdaramani annual report 2024
More than just a collection of financial statements, this year’s report reads like a roadmap for modern manufacturing and diversified enterprise. Here is a breakdown of the key takeaways from the Hirdaramani Annual Report 2024.
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Evaluating Performance Across the 4 Pillars of "Future First" USD 30 million) investment in a new state-of-the-art
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.
While a publicly released financial annual report is not standard practice for the private Hirdaramani Group, other indicators and industry reports provide a clear picture of its performance and the environment in which it operates. Hirdaramani's forward momentum is embedded within a resilient Sri Lankan apparel sector.
Hirdaramani’s sustainability leadership did not go unnoticed. The Group clinched the at the Presidential Environment Awards 2024 , bringing its total award count to four across multiple categories. This recognition reinforces the Group’s status as a sustainability leader in Sri Lanka. It’s the tale of a family business that
A commitment to reduce absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 54.6% by 2033 from a 2022 base year.
Hirdaramani has successfully matched infrastructure scale with rigorous green building standards.
: Their solar capacity surged, with the Suryadhanavi Rooftop Solar Project generating 16.2 GWh annually , effectively saving 13,400 tonnes of carbon. National Recognition
The 2024 report indicates a proactive stance on emerging challenges. The "Future First" roadmap 2025 remains the guiding framework, emphasizing continued investment in renewable energy and strengthening social sustainability through the WEAVE framework.
Sri Lanka's apparel industry, the nation's largest export sector, demonstrated resilience in 2024. According to the Joint Apparel Association Forum (JAAF), the country's apparel exports grew by in 2024, up from USD 4.5 billion in the previous year. This growth was driven by increases in exports to key markets, including a 5.2% rise to the USA (USD 1.9 billion) and a 7.7% increase to the UK (USD 675 million). This positive industry backdrop provides a strong tailwind for a major player like Hirdaramani.