Home textiles maker Welspun India is eyeing about 50 per cent of its revenue from innovation-based products by FY2021-22, a top company official said.
The company, which offers bath, bedding and flooring solutions, has 29 active patents globally.
"We expect revenue from innovation-based products to grow significantly in the years to come. We see at least 50 per cent of our revenue from innovation-based products. We see this happening by year 2022. Our innovation-based products are relevant to the customers," Welspun India CEO and Joint Managing Director Dipali Goenka told PTI.
At present, around 25-30 per cent of Welspun India's sales come from innovation-based products.
For the half-year ended September 2018, the company had reported a total income of Rs 3,375.6 crore.
When asked if the company has any major capital expansion plans for the textiles business, Goenka said: "Not for Welspun India. We have had a great share of investments. Now we are looking at optimising... for the next 2-3 years."
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