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Kshitij Polyline, a National Stock Exchange (NSE) listed entity, has announced that it is looking to increase its revenue by entering new product ranges and taking advantage of technological advancement. The company, through an exchange filing, informed the bourse that its board has considered an approval to enter e-commerce space and develop its brand from stationary products and ancillary products.
“The company intends to develop its own website, selling on other e-commerce platforms, opening stores for speedy delivery, tie-up with other vendors and off-line & online marketing to increase their revenue by use of new technology. These efforts will incur an initial cost of Rs 10 crore to the company. However, the actual amount may vary, the company informed. It is likely to finance this costing by internal reserves and/or by debt from financial institutions,” an official statement said.
The company announced that its board also approved the agenda of increasing its product range. The company is looking at the products which are used in schools, colleges, offices, corporates, government departments and other institutions, it said.
The Daman and Diu based company aims to strengthen its product line, with sound quality and durability, through research and development and requirement of consumers, the filing added.
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