"Overall, we have been saying this year we will grow at more than 15 per cent, which should take us to over Rs 27 billion in FY19," he said.
The company has been investing into developing new materials, and into over 250 Intellectual Property filings, including patents, design registrations, and trade mark.
On new products, the company plans to start small and allow it to scale up to commercially prove itself as viable. It has earmarked a capex of Rs 1.2 billion during the current fiscal year.
While the company was expecting the implementation of Goods and Services Tax (GST) to bring in more business in India, there has not been any great benefit till the first quarter of the year.
According to an earlier report, CUMI last year carried out various changes in its operation, and shifted some of its manufacturing operations from overseas to India.