Hirdaramani Annual Report 2024 Updated Direct
Guide: How to read and use Hirdaramani Annual Report 2024
- Revenue Growth: The company's revenue increased by 15% to LKR 123.4 billion (approximately USD 675 million) compared to LKR 107.2 billion in 2023. This growth was driven by a strong performance in the apparel and textile divisions, as well as increased revenue from real estate and financial services.
- Profitability: Hirdaramani reported a consolidated profit before tax of LKR 4.8 billion (approximately USD 26.3 million), representing a 10% increase over the previous year. The company's profit after tax stood at LKR 3.4 billion (approximately USD 18.6 million).
- Gross Margin: The company's gross margin improved to 22.1% in 2024, up from 20.5% in 2023, driven by efficient supply chain management and cost-saving initiatives.
Net-Zero Approval
: Hirdaramani became the first Sri Lankan organization to have its Net-Zero Science Based Targets approved by the Science Based Targets initiative (SBTi) in 2024. Emission Targets :
- Apparel and Textiles: The apparel and textile division remained the largest contributor to the company's revenue, accounting for 55% of total revenue. The division reported a 12% increase in revenue to LKR 67.8 billion (approximately USD 371 million).
- Real Estate: The real estate division reported a significant increase in revenue to LKR 20.5 billion (approximately USD 112 million), driven by the completion of several high-end residential and commercial projects.
- Financial Services: The financial services division, which includes Hirdaramani's banking and leasing operations, reported a 15% increase in revenue to LKR 15.2 billion (approximately USD 83 million).
Hirdaramani Group Unveils Impressive Growth in 2024: A Year of Sustainability and Innovation