Home textiles maker Welspun India is targeting around half of its revenue from innovation-based products by 2021-22, according to company Chief Executive Officer and Joint Managing Director Dipali Goenka. Around 25-30 per cent of the company’s sale is attributed to innovation-based products now. The company has no major capital expansion plans for textiles. The company, which offers bath, bedding and flooring solutions, has 29 active patents globally. For the first half of fiscal 2018-19 ending September, the company had reported a total income of Rs. 3,375.6 cr.
Earlier this month, the company had said it plans to invest around Rs. 900 cr in the current fiscal, according to a report. Of this, Rs. 320 cr has been invested in the first half. A major part of the investment will go to the flooring solutions facility that the company recently commissioned in Telangana.
