This invention relates to a composition useful as an acid and corrosion resistant and process thereof. This invention particularly relates to a composition of coating in which a fraction of machining waste is mixed with the polymeric binder and allied chemicals. This coating can be used to protect concrete, metals etc. from acidic or chemicals vapours/environment against corrosion. This composition utilizes the fine powder obtained from the machining waste of Printed circuit board plant and cashew nut shell liquid. This composition is eco-friendly and helps in utilizing non-degradable industrial waste and can efficiently be used to produce acid and urea resistant coating.