If there is one theme that would dominate a Hirdaramani annual report for 2024, it is sustainability. The Group did not merely talk about green practices—it achieved unprecedented, verifiable milestones that have set a benchmark for the entire South Asian apparel industry.
: Their "Suryadhanavi Rooftop Solar Project" now generates 16.2 GWh of renewable energy annually , saving approximately 13,400 tonnes of carbon.
The concluding remarks from the Chairman and the Board of Directors strike a tone of cautious optimism. They acknowledge that the "business as usual" mindset is obsolete. The strategy for the coming year focuses on:
Evaluating Performance Across the 4 Pillars of "Future First" hirdaramani annual report 2024
Industry estimates place Hirdaramani Group’s annual revenue in the range of . More importantly, 2024 has been a year of significant, targeted investment. The marquee event was the announcement of a Rs 10 billion (approximately $30 million) investment in a new, cutting‑edge textile mill named ‘Mihila Tex’ in Pannala, Sri Lanka. This state‑of‑the‑art facility is designed to minimise energy consumption, reduce waste generation and optimise resource management, while incorporating advanced water‑recycling and purification systems. The mill, a joint venture with Chinese textile giant Hengda Textiles, is expected to be fully operational by 2025 and will create over 800 direct jobs.
: 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 Hirdaramani Group, a leading conglomerate in Sri Lanka, has recently released its annual report for the year 2024. The report provides a detailed overview of the company's performance, financial highlights, and strategic initiatives undertaken during the year. In this article, we will take a closer look at the Hirdaramani annual report 2024, highlighting key trends, achievements, and challenges faced by the company. If there is one theme that would dominate
Hirdaramani continues to support local communities through direct initiatives, such as the ongoing maintenance and furnishing of children's wards in hospitals, alongside regular team visits. The company's biodiversity parks, which support native flora and fauna, also serve as a form of community investment, enhancing local ecosystems and creating "living laboratories" for conservation and education.
Strategic Investments: Vertically Integrating the Value Chain
In the wake of Sri Lanka’s economic crisis, labor retention became a national challenge. The details a "Financial Wellness for All" initiative. The concluding remarks from the Chairman and the
For a manufacturer based in Sri Lanka, the stakes were even higher. The domestic economic crisis of 2022-2023 tested the operational limits of every export-oriented business. However, the Hirdaramani report for 2024 highlights a year of consolidation and cautious optimism. The Group has seemingly weathered the storm, leveraging its diversified manufacturing footprint across Sri Lanka, Bangladesh, and Vietnam to mitigate regional risks.
: In an industry that often wastes thousands of litres for a single pair of jeans, Hirdaramani has implemented systems that recycle 60% of output water .
“FY2024 tested our agility. While demand softened in Q1, our diversified product mix—activewear, casuals, and medical garments—kept us stable. We have now integrated Scope 3 emissions into our KPI dashboard. The next three years will see Hirdaramani pivot from being a garment manufacturer to a for global brands.” – Ms. Shiromal C. Hirdaramani , Chairperson