"Berger Paints Russia was not getting much attention. In the last year, the Russian unit's topline was just Rs 7-8 crore. But, the order for the three world cup venues and two airports will help the turnover reach Rs 15-16 crore in the current fiscal," Berger Paints Managing Director Abhijit Roy said here today.
He claimed that an in-house silicon based coating technology, developed some four years ago, was behind winning of the latest orders in Russia.
"We are in the process of setting up a team for the Russian company and also scouting for acquisitions if the opportunity comes through," Roy said.
Berger is open to acquisition of firms in a range of Rs 70-200 crore offering distribution and brand strength, Roy said.
"Currently we are only present in decoratives but now we will move into industrial coatings. We will begin direct exports and over the next two years production in Russia could comnence," Roy said.
Roy said the company is also open to inorganic growth on its home turf.
Roy, who is also the president of Indian Paints Association, urged government to reduce the Goods and Services Tax (GST) to 18 per cent from 28 per cent to spur growth and reduce losses of the paints industry.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)