Hirdaramani Annual Report 2024 -

| Indicator | 2024 Result | vs. 2023 | | :--- | :--- | :--- | | GHG Emissions (Scope 1 & 2) | -23% reduction | ▲ 9% improvement | | Freshwater withdrawal per garment | 38 liters | ▼ 11% | | Waste sent to landfill | 4.1% of total | ▼ 32% | | Certified organic/circular materials | 19% of total volume | ▲ 7 pts | | Women in leadership (Supervisor+) | 44% | ▲ 3 pts |

Hirdaramani became one of the few Asian apparel manufacturers to claim "Water Positive" status in its Sri Lankan operations. For every liter of freshwater extracted, the company replenished 1.5 liters back into local watersheds through rainwater harvesting and community well restoration projects.

In the concluding section of the Hirdaramani Annual Report 2024, the Chairman outlines "Project 2030," but with a crucial interim target for 2025: Net Zero Scope 1 & 2 emissions.

The group also announced a pilot program for "on-demand manufacturing" in Vietnam, aiming to reduce overproduction waste by 60% by the end of 2025. hirdaramani annual report 2024

For decades, Hirdaramani has been a pioneer in sustainable manufacturing, and the 2024 report doubles down on this commitment.

In an era of increasing automation, Hirdaramani places a refreshing emphasis on its people. The "Social" aspect of their ESG framework is a standout chapter in the 2024 report.

The Group discusses initiatives aimed at women’s empowerment within their workforce—a critical focus given the high percentage of female employees in the apparel sector. From health and wellness programs to leadership training, the report showcases a model for ethical labor practices that sets a benchmark for the region. | Indicator | 2024 Result | vs

To understand the significance of the Hirdaramani 2024 report, one must first contextualize the environment in which it was written. The global apparel sector has been battered by what economists term a "polycrisis": post-pandemic demand fluctuations, the Red Sea shipping crisis, soaring energy costs, and the lingering effects of global inflation.

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.

We recognize that technology amplifies, but people create. In the concluding section of the Hirdaramani Annual

No apparel report is complete without addressing the workforce, and Hirdaramani’s 2024 analysis is candid about the challenges of labor retention. The post-pandemic era saw a global shift in labor dynamics, with many workers leaving the formal apparel sector.

The Group’s response, as detailed in the report, focuses on "Employee Value Propositions." This includes upskilling programs, enhanced welfare facilities, and a focus on women’s empowerment. The report highlights specific initiatives aimed at the female workforce—who constitute the majority of their employees—such as health programs, childcare support, and career progression pathways into management roles.

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.