Hirdaramani Annual Report 2024 [hot] [ 2025-2026 ]
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
Hirdaramani Group released its Sustainability Report 2024 in June 2025, detailing its progress toward the "Future First" 2025 roadmap and reporting a revenue of $1.2 billion
. As a privately held global enterprise, Hirdaramani does not typically issue a single public "annual report" in the same way as a listed company, though its major partner, , published its Annual Report 2023/24 in November 2024 with a revenue of Rs. 7,329 million Sustainability & Climate Leadership
In 2024, Hirdaramani solidified its position as a sustainability leader in the global apparel industry: SBTi Net-Zero Approval hirdaramani annual report 2024
: In September 2024, the group became the first organization in Sri Lanka to receive official approval from the Science Based Targets initiative (SBTi) for its Net-Zero science-based targets. Energy Transition : The group achieved net-zero greenhouse gas emissions
from energy across all manufacturing operations in Sri Lanka. Its on-site renewable power capacity reached 16.2 GWh annually through the Suryadhanavi Rooftop Solar Project. Resource Management
: Two facilities—Hirdaramani Seethawaka and Ja-ela—achieved the ZDHC Supplier to Zero (Level 2) and sustainability targets.
Progressive Level Certification for sustainable chemical management. Eco-Awards : The group secured the Gold Award in the Apparel Industry category at the Presidential Environment Awards 2024 for its Mihila facility. Strategic Investments & Growth Mihila Tex : Hirdaramani invested $30 million
to establish a cutting-edge green textile mill in Pannala, Sri Lanka. FDI Expansion : In late 2025, the group announced a supplementary $1 million
Foreign Direct Investment (FDI) to further strengthen the local apparel value chain. Biodiversity : The group unveiled the proposed 'Diya Arana' Wetland though its major partner
at its Ja-Ela facility, planned for completion in early 2026 to enhance local biodiversity. Social & People Impact Hirdaramani Apparel Sustainability Report 2024 * 18.4 Mn. * 1.2 Bn (USD) Hirdaramani apparel ANNUAL REPORT 2023/24 - CSE
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1. Financial Resilience in a Turbulent Economy
The headline of the report is the Group’s robust financial performance despite global headwinds. Facing supply chain disruptions and fluctuating demand in key export markets, Hirdaramani has demonstrated remarkable agility.
The report highlights a stabilization of revenue streams, attributed to strategic cost management and operational efficiency. While the global apparel sector faced a slowdown, Hirdaramani’s diversified portfolio helped cushion the impact, proving that their long-term strategy of not putting "all eggs in one basket" continues to pay dividends.
1. Climate & Circularity (Net Zero Pathway)
2024 marked a pivotal year in our decarbonization journey. We operationalized the Hirdaramani Green Energy Transition Plan, achieving:
- 41% renewable energy mix across group operations (up from 34% in 2023), powered by two new solar farms at our Seethawaka and Wathupitiwala facilities.
- Water positivity in three Sri Lankan facilities, treating and returning 110% of water consumed to local ecosystems.
- Launched the “Circular Denim” pilot—producing jeans with 70% recycled cotton and a digital product passport for end-of-life recycling.