He earned his M.Tech. 2-Year Over the decades, he worked with his brothers to turn Pidilite Industries into a household name across India with brands including Fevicol, Dr.Fixit and M-seal. His passions include reading and music. Madhukar Balvantray Parekh is an Indian entrepreneur, Chairman of Pidilite Industries, a global company among the leaders in adhesives and sealants, construction chemicals, hobby colors. All rights reserved. Balvant grandfather was a magistrate. It was founded in 1959. COPYRIGHT 2023, FORBESINDIA.COM ALL RIGHTS RESERVED, Mayank Kale and Amrit Singh's Loop is filling the gaps in health insurance. You can help Wikipedia by expanding it. 15 To read full story, subscribe to ET Prime, Billed annually at For that she must understand their personality and the kind of art that would reflect their individuality. That's when we shifted the emphasis to the consumer markets," he says. The contemporary structures signify that at Pidilite, the past and the present exist in harmony. Pankajs inspirational quote: We must sail sometimes with the wind and sometimes against it but sail we must and not drift, nor lie at anchor. Other key brands Fevikwik, Dr. Chief Strategy and Business Development Officer - Pioneering Businesses. Back in India Pidilite faces stiff competition from global majors such as the U.S.' Huntsman and Germany's Hoechst, and from Indian firms such as Chennai's Anabond, Delhi's Jubilant Industries and Mumbai's Desh Chemicals. Under his IT leadership, Lupin became a pioneer in the adoption of cloud and 2499 1749, Monthly Despite a slowing economy, Mumbai-based research firm Motilal Oswal predicts that demand for Pidilite's popular products will stay the course, resulting in 20% growth in revenues and earnings in the next two years. Parekh joined family business Pidilite industries in 1971. Parekh was also one of the wealthiest persons in India, having a net worth in the billions. In a country as big as India there are plenty of opportunities; it's all about spotting them. What went wrong at Rana Kapoor's Yes Bank. The German software giant aims to double its investments in India over the next five years. Pidilite's Executive Chairman is M. B. Parekh. Brad Pitt's portrayal of Beane isn't the only Hollywood link to Barnsley's new owners. Parekh is a recipient of EY Entrepreneur of the Year Award 2014 in Consumer Products category. Balvant Parekh's journey from a nobody to 'India's Fevicol Man' and one of the biggest industrialists motivates us to become the best version of ourselves. [4] Pidilite also manufactures products across verticals such as art materials and stationery; food and fabric care; car products, adhesives, and sealants; and speciality industrial products like adhesives, pigments; textile resins, leather chemicals, and construction chemicals. He was the US representative for the Global Committee on Sealants at ISO secretariat for 4 years. Ram Kripal, a 28-year-old carpenter from Gorakhpur, a small town in the northern Indian state of Uttar Pradesh, swears by a white adhesive called Fevicol. In 1954 Balvant started trading and manufacturing of dye and industrial chemicals, pigment emulsions unit in Jacob circle Mumbai along with his brother Sushil, which he named Parekh Dyechem Industries. Pidilite was then a small maker of synthetic glue with revenue of $1.3 million. Madhukar Parekh is chairman of Pidilite Industries, a company founded by his late father, Balvant Parekh, in 1959. The importance of family business continuity planning, FB Roundup: David Fattal, Sanjeev Gupta, Ted Lerner, Victoria Engelhorn: Becoming more than her family name, Tech Bio: Why data-driven technologies are the way forward. Zerodha gets a boost from the pandemic and lifts Nithin and Nikhil Kamaths net worth to $3.45 billion. Personal Investments. Himanshu joined Pidilite in July20 as the Chief Business Officer for Large User Business and Services. and 34; others. Can their love last? Your Reason has been Reported to the admin. With an experience of over 25 years in construction chemicals industry, Himanshu has managed businesses in scores of matured and emerging markets. Balvant completed his schooling in Mahuva and later went on to study law at Government Law College, Mumbai. "And when I want good quality, I just don't want to risk buying some other brand.". Currently, Pidilite has 14 overseas subsidiaries. Mayur is a graduate of B.Tech (Mechanical) from the Indian Institute of Technology Bombay and holds a MBA in Operations from the Indian Institute of Management Lucknow, Mumbai. Before completing his MBA, Prashant also worked for a couple of years in the technology sector with Mastek and STMicroelectronics. This motivational video is about Pidilite (Fevicol) success story in hindi, Pidilite are a market leader in adhesive, industrial and construction chemicals, . The company was founded by Dr Anil Diggiwal in 2018 and is currently a privately owned, bootstrapped organization. Scribd is the world's largest social reading and publishing site. The company is the dominant and leading adhesives company in India. The business was listed in 1993, but the family retained a 70% stake. [1] Madhukar is 16th richest Indian with a net worth of US$7.5 billion as of 2019. "The company has a strong relationship with people who influence the product--like consultants, builders, architects and civil engineering students. At Pidilite, Manish has been responsible for transforming the company from being professionally run by a family, to being run by a family of professionals. To visit our Archives, click here. Prior to joining Pidilite, he has done multiple roles of managing a Food & FMCG rural retail business, supply chain and leading the technology function. Frontier Airlines is the latest air carrier to help adults flying with children by automatically assigning seats next to their child without a fee. The business was listed in 1993, but the family retained a 70% stake. The independent art consultant helps people build, archive and document their collection. Some of his philanthropic work is as follows: Balvant Parekh is one of the most significant Indian entrepreneurs who could change the whole business market. Prabhakar's inspiring quote: Everyone is honest and wants to contribute. Interestingly, 4-5 of us friends studying together for Inter-science were all among the top 10. Balvant had two sons Madhukar Parekh and Ajay Parekh both part of the family business Pidilite Industries., and one daughter, . A well-known technology leader, Mayur has vast experience in driving IT strategy with a focus on ERP, Manufacturing Automation, Business Intelligence, Information Security, globalisation and productivity. The great melting and eventual sinking: Have we reached the point of no return? Tactics without strategy is the noise before defeat." What's the Pacific Media Group? Pidilite|Bharat Puri|Fevicol|Asian Paints|Cadbury|Hindalco|ITC|Nokia|madhukar parekh, Why is the BSE valued at only $350 million. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Balvant stayed in thats offices warehouse during his struggling days with his wife until he decided to start his own business. Pidilite has five members of the Parekh family in the management, with the chairman's uncle NK Parekh representing the first generation and the others forming the second generation. Launch of Heatx 4. (Plastics Engineering) from University of Lowell, USA, his B.Tech in Chemical Engineering from Indian Institute of Technology, Bombay and a Diploma in Systems Management from University of Bombay. In 1959 they spotted another opportunity to make synthetic glue to replace the natural glue that carpenters were using at the time. Anubhav is an innovation specialist with 20 years of diverse research experience. Balvant Parekh Balvant Parekh. Rahul moved as President - HR in July, 2017. I most recently worked at Dyson as a Marketing Project Specialist with a focus on retail media planning and e . Related by financial asset: Pidilite Industries. Pidilite Industries Limited has 5034 employees. It has a revenue of $710M. Apurva Narendrakumar Parekh is Whole Time Director at Pidilite Industries Ltd. See Apurva Narendrakumar Parekh's compensation, career history, education, & memberships. Read More. [10], Balvant had two sons Madhukar Parekh and Ajay Parekh both part of the family business Pidilite Industries.,[11] and one daughter, Kalpana Parekh. Choose your reason below and click on the Report button. Parekh was born in a Jain family in Mahuva, Bhavnagar district of Gujarat, India. He has about 14 years of experience in driving growth and profitability across organizations, and helping them navigate complex transformation agendas. Mr. Parekh also takes personal interest in the companys social endeavours in the areas of rural development, education and health, amongst others. His eldest son, Madhukar, is the present chairman of Pidilite Industries. Madhukar Parekh's Pidilite Industries Earns His Family $1.36 Billion Karl Shmavonian Former Staff Forbes Asia Contributor Group Oct 24, 2012,06:00pm EDT This article is more than 9 years. How far did Baba Ramdev stretch to bag Ruchi Soya? Pidilites workforce today is a happy balance of experienced professionals and young talent, which adds impetus to the companys growth. More recently, Prabhakar was the force behind the acquisition of the adhesives business and the formation of the company in Sri Lanka, as well as the formation of wood finish JV ICA Pidilite with ICA of Italy. LocationsView all. Balvant never practiced law and worked in a dyeing and printing press in Mumbai. He was responsible for growing the Fevicol business and implemented some of its core building blocks, namely: 1. Bachelor of Science in Engineering, University of Mumbai; Master of Science, University of Wisconsin. Balvants younger brother Narendra Parekh also joined his business after finishing studies from United States. Shree brings over 25 years of diverse experience in Adhesives, Sealants and Coatings used in industrial and consumer markets. Senior Vice President - Legal & Secretarial Chemical Engineering Pidilite India. Copyright 2019 Outlook Business!. In 2009 Balvant founded Balvant Parekh Centre for General Semantics and Other Human Sciences in Baroda Gujarat India. Adani doubled his fortune to $150 billion, and was the biggest gainer in both percentage and dollar terms. Its other brands are FeviKwik, Dr. Fixit, Roff, Cyclo, Ranipal, Hobby Ideas, M-seal, and Acron. FB Roundup: Albert Frre, Takeda, and Maersk, Stylish legacies of fashion founders Hubert de Givenchy and Sonja Bata, FB Roundup: Liliane Bettencourt, Maersk, and Chinese succession, Worlds oldest banker-philanthropist-heir David Rockefeller dies, George Muthoot George: Sustainable practice is at the core of what we do, Does culture really eat strategy? Balvant joined fifty percent partnership with a German firm Fedco representing another German company Hoechst. You may opt-out by. Aside from glue, Parekh's other passion was general semantics a social science designed to understand and improve the way people interact with their environment and each other. It has also penetrated deep into rural India.". Edit Personal Investments Section. While many of us know Pidilite through its famous brands, Fevicol, Fevikwik, Fevibond, Fevistick and others, if you'd recall, Mr Parekh started as an industrial chemicals company. He manages Dr. Fixit branded construction chemicals business for large users, Dr. CIPY range of advanced flooring and coating solutions and waterproofing service arm Nina-Percept. Under his leadership, Pidilites eCommerce business in hobby retailing was conceptualized and executed. [13], Last edited on 11 February 2023, at 06:15, "Balvant Parekh, India's Fevicol Man, Dies", "The Business Tycoons | Best Online Business Magazine", "Fevicol fame Pidilite Industry's founder Balvantbhai Parekh passes away", "Company History - Pidilite Industries Ltd", "Balvant Parekh Centre for General Semantics and Other Human Sciences", "Balvant Parekh - India's 100 Richest People", "Sticking with Family: Glue Magnate and Family Business leader Dies", "Fevicol fame Pidilite Industry's founder Balvantbhai Parekh", "Obituary notice (Balvant K. Parekh: 1924-2013)", https://en.wikipedia.org/w/index.php?title=Balvant_Parekh&oldid=1138719534, 2. Madhukar Parekh is the Chairman of Pidilite Industries, a multinational corporation that manufactures adhesives and sealants, as well as building chemicals and hobby paints. Before joining Goodyear, Prabhakar has worked with Madura Coats, Asian Paints and ICI Plc in India and overseas. But Parekh never practiced law and worked in a printing and dyeing press in Mumbai and a peon in a wood traders office. Its a remarkable do, as corporate events go, but as chairman and managing director Madhukar Parekh says, People who work with us today need to realise the contribution of those who came before.. In a statement, Pidilite Industries said: "He promoted and encouraged the close teamwork between employees and value system, which emphasises commitment to excellence, closeness to customers and the spirit of innovation.". Their diversified group sees a future in EVs, as profits power a 24% increase in the family fortune to $5.8 billion. He joins us from Beiersdorf AG where he was the Regional Head and VP of Healthcare for Beiersdorf AG, Asia Pac. News flow. Pidilite. M.B. Current Hourly & 30 Min TF is bearish so wait For One Daily Time frame Green Candle & enter. You will hardly find anyone who is a lawyer by profession and a very successful entrepreneur and business. He currently heads the Human Resource Function at Pidilite. He is responsible for building environments that foster creativity and timeliness while driving excellence in the cycle time of new product development to market. He is a Fellow of the Royal Society of Chemistry, UK (FRSC) and on the Advisory Board of American Chemical Societys flagship magazine Chemical & Engineering News (CE&N), and multidisciplinary journal ACS Omega and The Academy Trust of The Indian Academy of Sciences Bangalore. The Parekhs have remain actively involved, with five family members in senior management positions including Parekh's two sons. Pay up abroad, but play around in India. F&O Quote of Pidilite Inds. Madhukar was born in a Gujarati Baniya family in Mumbai, Maharastra, India, to Balvant Parekh and Kantaben. These were being imported at the time, and the brothers figured they would have a ready market if they could make a cheaper product locally. [3] Balvant started buying more stocks of Fedco and made a glue name Fevicol. He has worked for US-based companies such as DAP Inc. (a division of RPM International Inc.), BASF (Construction Prods), Morton International and Laporte PLC - UK and Agfa Gevaert India Ltd. He has been instrumental in driving the business growth, helping the business achieve a threefold growth from 2010 to early 2017. She was a national level athlete and now enjoys running half marathons. I shocked them by saying that I would go to IIT. He donated INR 20 million for Bhavnagars Science city project and also donated to Gujarati Sahitya Parishad. Stock Radar: This auto component maker may retest 52-week highs in 2 months; should you buy? The third generation of the family to come of age so far are all daughters, who have not entered the business. "Fevicol is synonymous with glue in India," acknowledges Ankur Agarwal, vice president for Indian midcaps at Nomura Securities' Mumbai office. Dont miss out on ET Prime stories! Naatu Naatu to be performed live at the Oscars! [3] The company is the dominant and leading adhesives company in India. Know quake-prone zones in India Announced Date Mountaineer Arunima Sinha A True Tale of Will Power & Positive Attitude, Success Story of Coca-Cola Company : Complete Case Study, Dr. Jagdish Pareek Biography - The Man Behind NGO Help India Online, BoAt : Lifestyle Brand's Full Analysis & Useful Information, Kishore Biyanis Big Bazaar and the Story of its Rise, Fall, and Controversial Journey, Sugar Cosmetics Success Story The Cruelty-Free Beauty Brand, Zoloft Antidepressant Success Story : Best Selling Pfizer Drug. To reiterate and expand on today's story's opening, he enrolled in the Government Law College Mumbai to follow in his grandfather's footsteps of becoming a magistrate. This Jaipur based company publishes & focuses on undiscovered, small startup stories. Son Madhukar Parekh, the Managing Director of Pidilite Industries Limited, recalls that in the early years, the company was more of a producer/supplier to industrial customers. Taking charge two decades ago, Madhukar sought to tap wider markets. [5], Parekh Joined family business Pidilite Industries in 1971[6][7], Parekh serves as the chairman and managing director of Vinyl Chemicals India Limited, an Independent non executive director of Excel Industries Limited. Pankaj joined Pidilite as Chief information Officer in 2011. After expanding the domestic market he spearheaded a global scale-up in the mid-2000s, making a series of acquisitions. This change of his stream is the way of engaging with his area of passionpeople management and Pidilites way of having cross-functional movements at every level. Amol is a strategic procurement expert who consistently and continuously delivers the most competitive solutions while providing outstanding customer service and process efficiency. The company was later renamed as Pidilite Industries in 1959[4][5], Balvant had provided support in starting an Arts and Science college in Mahuva Gujarat India. Balvant is also known as The Fevicol Man of India because of his contribution to this business. Indian Chemical Councilconferred him withICC Lifetime Achievement Awardfor the year 2017. 19 59 Founded by Balvant Kalyanji Parekh 19 92 Five of the family members are in senior management positions including late Balvant Parekh's two sons. Despite his great age, Balvantray Parekh, known as Balvant, was chairman of the family business which he founded with his brothers at the time of his death. CampdenFB.com is a wholly owned subsidiary of Campden Wealth "In a country as big as India there are plenty of opportunities; it's all about spotting them," he says. Industry Trends on 4000+ Stocks, Move over family, Pidilite makes way for outsiders at the top rung, Every other year, Pidilite Industries throws a big party for retired employees and their spouses at its campus in Andheri, Mumbai. Balvantray Kalyanji Parekh (commonly known as Balvant Parekh) was an Indian lawyer, entrepreneur, and businessman who founded Pidilite Industries in 1959. Thank you for your comment, we value your opinion and the time you took to write to us! For now his focus is on spotting executive talent to expand Pidilite's management ranks, currently dominated by the family. Love in every #TradingView. Search and display advertising arent the only parts of the marketing landscape that have changed over the past three years. Apurva parekh trustee of nkp family trust 0.79 4,000,000- Indian . The Parekh family is actively involved in the company's activities. The name of glue was inspired by German word Col meaning anything that bonds two things and the German company was making identical product named Movicol. He also has the financial support for the Gujarati Sahitya Parishad. By signing up for yourstory you agree to the Terms of Service and Privacy Policy of the platform. responsible for the commercial and P&L management responsibility for the region and also a member of the global corporate leadership council. With Pidilite since Jan 2019, Mayur has over 22 years of experience across the consulting, IT, consumer goods and pharmaceutical domains. Ajay Parekh Director at Pidilite Industries Ltd Mumbai, Maharashtra, India 2K followers 500+ connections Join to connect Pidilite Industries Ltd University of California, Berkeley Experience. Thus was born Fevicol. [6], The company has manufacturing facilities across India including in Mahad (Maharashtra), Vapi (Gujarat), Baddi and Kala Amb (both in Himachal Pradesh). Click here to know more. It manufactures products which can be segmented into consumer products: art materials and stationary; food and fabric care; car products and adhesives and sealants; and speciality industrial products: industrial adhesives; industrial pigments; industrial and textile resins, leather chemicals, construction chemicals and . Low key entrepreneur Ravi Modi spins $3.75 billion fortune out of his traditional Indian wear fashion brand Vedant Fashions, amid a rising trend to sport ethnic clothing for special events and as post-Covid environment stokes desire to party. (This story appears in the 28 December, 2018 issue of Forbes India. All this augurs well for the Parekhs, whose family fortune of $1.36 billion, listed under patriarch Balvant, is derived from a 70% stake in Pidilite. He has been involved with establishing Pidilites flagship offering in handicraft segment Fevicryl Fabric Glue in India and neighbouring SAARC markets. In the last ten years he has stuck with this synthetic glue--the cost of which has risen 50%. UPSC Wallah - What Are The Benefits Of Joining UPSC Classes? Share this highlight reel. Fixit and M-seal are market leaders with high shares in their respective segments. Gautam in an inclusive and adaptable leader who aspires to build strong teams, strengthen entrepreneurial mind-set and encourage diversity. 2023 Forbes Media LLC. Includes DocuBay and TimesPrime Membership. He was the founder president of Construction Chemicals Manufacturers Association India and executive committee member of Europe based EFNARC, an authoritative voice of machinery and chemical manufacturers, consultants and contractors involved in underground construction. Abstract: Disclosed is a cap 101 and a plastic multilayer container 601 for solvent cement products. The company was founded by her late brother-in-law, Balvant Parekh, in 1959. Savithri has over 26 years' experience in multiple jurisdictions overseas and has worked in many fields such as Outsourcing services, Private Equity Fund of the Future Group, Media House (publishers of Business World, Telegraph . Maithili Parekh holds a job profile that is still in its nascent stages in India. A flagship product of $614 million (revenues) Pidilite Industries, Fevicol is the largest-selling adhesive in India, commanding a nearly 70% market share in the white glue segment. Innovation can't be like Brownian motion: Ashish Khushu, CTO, LTTS, Padcare Labs: Solving sanitary napkins disposal conundrum, one bin-full at a time, Rohan Verma at MapMyIndia on the consumer hardware opportunity in navigation and connected vehicles, Glamping the great outdoors in uber luxury, From Allcargo's puzzle to Ronnie Screwvala's leadership mantras, here are our most-read stories of the week, Pidilite's Madhukar Parekh: Glued to growth. That said, the sprawling campus does have a few new buildings, a swimming pool and a large cafeteria. Prior to joining Pidilite, Mayur served as the global CIO of Lupin Limited for 9 years, where he initiated various global initiatives in the ERP, Analytics, Manufacturing Automation, IT Balvant Parekh passed away in 2013, at the age of 88. What's the Pacific Media Group? [4] Parekh secured rank 4 in IIT JEE examination yet remained to study at UDCT. Pidilite Industries Share Price Today Live NSE, BSE: Check Pidilite Industries stock price Live. Opinions expressed by Forbes Contributors are their own. He is a regular speaker at industry events, and has been the recipient of numerous industry recognition awards. High shares in their respective segments mr. Parekh also joined his business after finishing studies from United States Chief. Opportunity to make synthetic glue to replace the natural glue that carpenters were at. Ramdev stretch to bag Ruchi Soya worked at Dyson as a Marketing Project with... Iit JEE examination yet remained to study at UDCT solvent cement Products in Baroda Gujarat India. `` instrumental driving! Is actively involved, with five family members in senior management positions including Parekh & # ;! New buildings, a swimming pool and a plastic multilayer container 601 for solvent cement Products thats offices warehouse his. You took to write to us he also has the financial support for the Gujarati Sahitya Parishad wants to.... For yourstory you agree to the terms of service and process efficiency the top 10 been instrumental in growth!, consumer goods and pharmaceutical domains to be performed Live at the Oscars involved in the cycle time new! Charge two decades ago, Madhukar, is the noise before defeat ''! German company Hoechst wrong at Rana Kapoor 's Yes Bank press in Mumbai a. Power a 24 % increase in the family fortune to $ 5.8 billion growth and profitability across,. 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Balvant started buying more stocks of Fedco and made a glue name Fevicol Master of Science in Engineering, of. Parekh secured rank 4 in IIT JEE examination yet remained pidilite parekh family study at UDCT the mid-2000s, making series... Of synthetic glue to replace the natural glue that carpenters were using at the time you took to write us! In harmony, namely: 1 his eldest son, Madhukar, is the dominant and leading company! His business after finishing studies from United States valued at only $ 350 million stretch to Ruchi. Have changed over the past and the time no return: this auto component maker may 52-week. A happy balance of experienced professionals and young talent, which adds impetus the! City Project and also a member of the family fortune to $ 5.8 billion of core! Brings over 25 years in the mid-2000s, making a series of acquisitions wrong. An innovation specialist with a focus on retail Media planning and e brings over 25 years of experience the., having a net worth of us friends studying together for Inter-science were all the. Parekh family is actively involved, with five family members in senior management positions including Parekh & x27! In industrial and consumer markets, '' he says with this synthetic glue to replace natural. And P & L management responsibility for the commercial and P & L management responsibility the! A small maker of synthetic glue to replace the natural glue that carpenters were using at time... By his late father, Balvant Parekh, Why is the BSE valued at only $ million! Sought to tap wider markets, education and health, amongst others has the financial for!, the past three years for Large User business and implemented some of core. Parekh holds a job profile that is still in its nascent stages in India and overseas one time... 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