Zydex eyes Rs 300 cr revenue from paints business in 2 years

Zydex expects its paints and waterproofing revenue to rise to about Rs 150 crore in the current fiscal from around Rs 90 crore last year, targeting Rs 300 crore in two years. The company is banking on silicate mineral paints, a niche category expected to grow 25-50 per cent annually over the next 10-15 years, targeting around 2 per cent of the Rs 80,000-1,00,000 crore Indian paints market. Zydex has invested about Rs 50 crore in its Vadodara plant and announced a strategic partnership with M3M India to deploy KEIM silicate mineral paint systems across premium developments.