Prepared in accordance with the Global Reporting Initiative (GRI) Standards and externally assured by EY (as of June 23, 2025), the report emphasizes transparency, accountability, and a focus on material issues that influence stakeholder decisions.
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.
Executive Overview: A Century of Heritage Meets Modern Scale hirdaramani annual report 2024
: Hirdaramani Apparel secured four awards, including a Gold Award for its Mihila facility and honors for its Ja-ela/Sithro and Seethawaka washing plants. Retail Sector: ODEL PLC (Financial Year 2023/24)
Hirdaramani’s "Digital Transformation" chapter outlines a multi-year investment in automation and data analytics. Key highlights include: Prepared in accordance with the Global Reporting Initiative
This pivot is essential for competing in a market that demands speed and transparency.
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. Executive Overview: A Century of Heritage Meets Modern
The group’s long-standing presence in , has positioned it as a key hub for sustainable apparel production, aligning with global sourcing shifts toward high-compliance ASEAN markets. Its facilities in Bangladesh and Ethiopia complement its home base in Sri Lanka, providing diversified risk and scale.
Driving Transformation: Insights from the Hirdaramani Annual and Sustainability Report 2024