"In a country as big as India there are plenty of opportunities; it's all about spotting them," he says. click here! Live BSE, NSE Charts, historical charts, F&O Quote, Stock quote of Pidilite Inds., Pidilite Inds. All Rights Reserved. Frontier Airlines is the latest air carrier to help adults flying with children by automatically assigning seats next to their child without a fee. Biography. This article about an Indian company is a stub. Balvant joined fifty percent partnership with a German firm Fedco representing another German company Hoechst. Experience Your Economic Times Newspaper, The Digital Way! Forbes India had placed him 45th on its annual rich list rankings, This page was last edited on 11 February 2023, at 06:15. Founder Chairman of Pidilite Industries 1924-2013 It is difficult to capture the essence of a man in a few words, especially if he is Shri Balvantray Kalyanji Parekh, Founder Chairman of Pidilite Industries. Madhukar Parekh is chairman of Pidilite Industries, a company founded by his late father, Balvant Parekh, in 1959. He was known as "India's Fevicol Man". (This story appears in the 28 December, 2018 issue of Forbes India. 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. Balvant had two sons Madhukar Parekh and Ajay Parekh both part of the family business Pidilite Industries., and one daughter, . Fondly called as the Fevicol Man, Parekh launched Pidlite Industries back in 1959 post India's independence which later became a synonym to adhesives in the Indian market. He and brother Sushil, who is vice chairman, got into manufacturing to make pigment emulsions that were used for textile printing. Today Pidilite's consumer product range, which includes adhesives, sealants, art materials and construction chemicals, contributes nearly 80% of revenues. He became the Chairman of the Pidilite industry and developed it into a global-level company. Shree leads the R&D team to bring excellence through modern processes and systems, infrastructure improvements to world class standards, and builds significantly enhanced technical capabilities. See insights on Pidilite including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. Shri Balvantray Kalyanji Parekh founder of Indian family-controlled glue company Pidilite Industries died on January 25 at the age of 88. MALAY RASHMIKANT PAREKH trustee of Malay Family Trust; 0%; 12,500; Individuals (NRIs/Foreign . Latest Shareholding pattern and details for Pidilite Industries Ltd. See FII, DII, MF, Institutional, Promoter and individuals shareholding changes, pledges, historical increases and decreases of shareholding for Pidilite Industries Ltd. for latest quarter in a single page. . All rights reserved. Parekh served as chairman as well as managing director at Vinyl chemical India limited. Pidilite's range of products includes construction chemicals, art materials and organic pigments. . Who is Neerav Parekh? The previous year in October, he was ranked Number 45 on Forbes Asia's India Rich List with a family fortune of $1.36 billion. Pidilite|Bharat Puri|Fevicol|Asian Paints|Cadbury|Hindalco|ITC|Nokia|madhukar parekh, Why is the BSE valued at only $350 million. Founder Balvant Parekh started out by making synthetic glue and pigment emulsions. Other key brands Fevikwik, Dr. 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. The Parekhs have remain actively involved, with five family members in senior management positions including Parekh's two sons. 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. Pankaj joined Pidilite as Chief information Officer in 2011. Pidilite Industries Limited 1996 - Present27 years Education University of Wisconsin-Madison BSChemical Engineering 1989 - 1993 University of Mumbai HSCScience 1987 - 1989 More activity by Apurva. Tucked away in a small lane in the Mumbai suburb of Andheri, the Pidilite office is simple and transports you back to the early 90s. The company was founded by Dr Anil Diggiwal in 2018 and is currently a privately owned, bootstrapped organization. Investors, Sanjiv Bajaj aur COVID-19. The significant development and shaping of premium PWG brands like Marine and Speedex. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. Under his leadership, Pidilites eCommerce business in hobby retailing was conceptualized and executed. 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. "The company has a strong relationship with people who influence the product--like consultants, builders, architects and civil engineering students. 5. Mr. Madhukar B. Parekhs journey with Pidilite commenced in 1972, after his stint with Abbot Laboratories in the U.S., which he joined immediately after completing his Masters in Chemical Engineering from University of Wisconsin. The company was founded by Balvantray Kalyanji Parekh in 1959 and is headquartered in Mumbai, India. Prior to that, he was Chairman and Managing Director at Goodyear India. Balvant also donated INR 20 million for Bhavnagars Science City. Its other brands are FeviKwik, Dr. Fixit, Roff, Cyclo, Ranipal, Hobby Ideas, M-seal, and Acron. You will hardly find anyone who is a lawyer by profession and a very successful entrepreneur and business. The credit for turning a utilitarian product into one of India's top brands goes to Madhukar Parekh, 66, eldest son of Pidilite founder Balvant Parekh. 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. Chairman : M B Parekh . 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. Large sofa sets and leisurely shutting elevators visibly conceal the power of a Rs.6,062 crore company and the success of its key brands such as Fevicol, Fevistik and M-Seal. Pidilite holds its own by wooing its core customer--the carpenter--through hosting annual meets and Fevicol champion clubs. Get your daily dose of business updates on WhatsApp. Pay up abroad, but play around in India. 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. Pidilite is best known for Fevicol, its iconic white glue popularized over the decades by clever advertising. He strives to make Pidilite a great place to work where people are inspired to be the best they can be. Thank you for your comment, we value your opinion and the time you took to write to us! You can help Wikipedia by expanding it. The business was listed in 1993, but the family retained a 70% stake. Madhukar completed Bachelor of Engineering in Chemical Engineering from the University Department of Chemical Technology of University of Mumbai and Masters in Chemical engineering from University of Wisconsin the United States in 1969. 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. Before Lupin, Mayur had several years of cross-industry experience across various organisations including Eastman Kodak, SAP and Asian Paints. 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. In the last ten years he has stuck with this synthetic glue--the cost of which has risen 50%. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Seven daughters who are making their mark at their family companies. He is passionate about travelling, and also loves to spend time with nature on a trek or hike whenever he gets the opportunity. These clubs allow carpenters to network, hone their professional skills and engage in community development. But Parekh never practiced law and worked in a printing and dyeing press in Mumbai and a peon in a wood traders office. He is responsible for building environments that foster creativity and timeliness while driving excellence in the cycle time of new product development to market. Mr. Parekh also takes personal interest in the companys social endeavours in the areas of rural development, education and health, amongst others. 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Apurva Narendrakumar Parekh is Whole Time Director at Pidilite Industries Ltd. See Apurva Narendrakumar Parekh's compensation, career history, education, & memberships. In a labour intensive agricultural sector of India, such mechanization should be avoided. His legacy: Single-handedly building Fevicol into a household brand through memorable advertising. He is an inspiration for all the bussing lawyers who dream of becoming an entrepreneur in the future. [10], Balvant had two sons Madhukar Parekh and Ajay Parekh both part of the family business Pidilite Industries.,[11] and one daughter, Kalpana Parekh. LocationsView all. 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. Indian Business Titan Rahul Bajajs Family Is Building On His Legacy, This Billionaire Made His Fortune Selling Affordable Fashion For Big Fat Indian Weddings, India Wealth Creation: India Races Ahead In 2022, Daughters Of Billionaires Take Their Place In Indias C-Suites, Murugappa Family Scions Change Lanes To Electric Vehicles, Indias Kamath Brothers Thrive On Moves To Disrupt Share Trading, The Mistry Familys Double Tragedy Leaves A Vacuum At The Shapoorji Pallonji Group, Indian Billionaire Pharma Brothers Get Boost From Their Go-To Pandemic Drug. Under his guidance the company has won many prestigious awards like the Most Promising Company of the Year at the CNBC-TV18, 11th India Business Leader Awards (IBLA). Pidilite's Executive Chairman is M. B. Parekh. DevOps Certification: Basic Insights You Need To Know! Shrees Inspiring Quote: Once a new technology rolls over, if you are not a steamroller, then you are a part of the road. Date of Death - 25 January 2013 (aged 87-88 years), Place of Death Mumbai, Maharashtra, India, Profession - Lawyer, Entrepreneur, Businessman, Alma Mater - Government Law College, Mumbai, Designation - Founder of Pidilite Industries, Children Madukar Parekh, Ajay Parekh, Kalpana Parekh, 45th Rank in Indias Top 50 Rich People By Forbes India Magazine, 2012. IoT to gain sustainable competitive advantage. He is driven by the vision to be a leader who helps teams to achieve organizational goals by coaching them to achieve their potential. Your use of this site is governed by the Terms and Conditions. [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. Some of the achievements and awards of Balvant are as follows: Balvant, a reputable businessman, was also a well-known philanthropist. Ambuja Cements Case Study The Billion-Dollar Cement Manufacturing Company, CodeChef Startup Story - Promising Online Platform for Programmers, Arihant Mehta raises the bar for others as a confident knowledgeable, and dynamic young entrepreneur. In 2009 Balvant founded Balvant Parekh Centre for General Semantics and Other Human Sciences in Baroda Gujarat India. 5. This story appears in the November 4, 2012 issue of Forbes Asia. 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 This Jaipur based company publishes & focuses on undiscovered, small startup stories. His grandfather was a magistrate, and he motivated him to study law. . Impactful branding trends 2022 set by an impactful entrepreneur Bhavik Mehta. The cavity may be configured to accommodate a metal dauber applicator comprising a metal dauber applicator wire 104, wherein the wire 104 comprises a first end 302 and a second end 304, wherein the first end 302 may be fitted with cotton blob 105. Parekh was born in 1946, into the Gujarati Baniya family of Banvantray Kalyanji Parekh in Mumbai, India. He conducts business with the highest level of customer service, ethical standards, fairness, and transparency. Overseas revenues contribute about 12% to total sales. Birlas textiles-to-cement conglomerate, Aditya Birla group, is the new challenger in Indias paints industry, even as it faces a serious competitor in its cement stronghold. Smoke without 5ire? Pidilite 2. Himanshu joined Pidilite in July20 as the Chief Business Officer for Large User Business and Services. Mr.Uday Khanna, Mr.Sanjeev Aga, Mr.Debabrata Gupta, Mr.A N Parekh, Mr.Sudhanshu Vats, Mr.Bharat Puri, Mr.A B Parekh, Mr.N K Parekh, Mr.Meher Pudumjee. To celebrate the occasion of Mr. Parekh's 75th birthday. Love in every #TradingView. For reprint rights: Continue reading with one of these options: Login to get access to some exclusive stories, Get access to exclusive stories, expert opinions &, Valid only with UPI, Credit & Debit Cards Autopay, Inciting hatred against a certain community, 15 Pidilite Industries was founded by Balvant Parekh in 1959. Before joining Goodyear, Prabhakar has worked with Madura Coats, Asian Paints and ICI Plc in India and overseas. Rahul is a Post Graduate from IIM - Bangalore and B.Tech from IIT-ISMU. 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. He is a Gold medallist alumnus of the Institute of Chemical Technology (ICT), formerly the University Department of Chemical Technology (UDCT), a premier chemical technology research institute in India. and Ph.D. degree from IIT Delhi in 1998 and 2002, respectively. Parekh was born in a Jain family in Mahuva, Bhavnagar district of Gujarat, India. Manishs inspirational quote: Discipline achieves what ambition seeks. Number of Investments 6. You may opt-out by. "We have inducted senior professionals to strengthen our management structure and reduce operational responsibilities of promoter family members,'' Apurva Parekh told TOI. Subscribe to Forbes Asia. Pidilite. Rahul joined Pidilite in 2010 as the President Sales and Marketing for the Art & Stationery Business. 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. Pidilites workforce today is a happy balance of experienced professionals and young talent, which adds impetus to the companys growth. Balvantray Kalyanji Parekh (1925 - 25 January 2013) was an Indian entrepreneur and founder of Pidilite Industries. Share Price, Future and Options Pidilite Inds. The business was listed in 1993, but the family retained a 70% stake. He was known as "Indias Fevicol Man".[1]. He was the US representative for the Global Committee on Sealants at ISO secretariat for 4 years. Pidilite Industries Limited has 5034 employees. The Parekhs have remain actively involved, with five family members in senior management positions including Parekh's two sons. Madhukar Parekh was born in 1946 and completed his engineering studies at the University of Mumbai and Masters from the University of Wisconsin. Every year it publishes 500,000 copies of a furniture design book that it distributes free to carpenters. Rahul is a Business Leader with over 22 years of experience in FMCG and BFSI in Sales & Marketing. Mrudula Parekh Net Worth, Age, Height, Weight, Husband, Wiki, Family 2023. He has about 14 years of experience in driving growth and profitability across organizations, and helping them navigate complex transformation agendas. Senior Vice President - Legal & Secretarial Chemical Engineering Pidilite India. Pidilite - Professional Family to a Family of Professionals | Outlook Business Pidilite has reached 120 day EMA and Multiyear Trendline support as well - I had pointed it out the last time it did so, and it went on to make 40% returns after that. After expanding the domestic market he spearheaded a global scale-up in the mid-2000s, making a series of acquisitions. Note : Parekh died at the age of 88 on 25 January 2013 in Mumbai, India. Fixit and M-seal are market leaders with high shares in their respective segments. Get Pidilite Industries Ltd.'s stock analysis, price valuation, corporate actions, and financials from India's independent mutual fund research house. That said, the sprawling campus does have a few new buildings, a swimming pool and a large cafeteria. 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. +Includes DocuBay and TimesPrime Membership. Edit Personal Investments Section. 2-Year 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. Pankaj is a post graduate in Management and has over 27 years of experience in the areas of Supply Chain, Retail Business and Information Technology. One of Mayur's achievements was to be recognized as a Young Tech Achiever by Dataquest in 2012. Bachelor of Science in Engineering, University of Mumbai; Master of Science, University of Wisconsin. 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. [4] Parekh secured rank 4 in IIT JEE examination yet remained to study at UDCT. His company manufactures adhesives, resins, pigments, sealants, products widely used by painters, carpenters, plumbers, etc. 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. He not only steered the company to become the market leader in the adhesives and sealants segment in India, but has also taken the legacy overseas, towards making Pidilite a true Indian MNC. Prior to joining Pidilite, he has done multiple roles of managing a Food & FMCG rural retail business, supply chain and leading the technology function. He joined Abbot Laboratories USA after his master's degree. About. He was born in a Jain family in 1925 and completed his primary and secondary schooling in Mahuva before attending Government Law College in Mumbai. . Search and display advertising arent the only parts of the marketing landscape that have changed over the past three years. 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. Naatu Naatu to be performed live at the Oscars! 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. . Your Reason has been Reported to the admin. 2023 Forbes Media LLC. At Pidilite, the entrepreneurial spirit is seen across all levels, with individuals going beyond the call of duty to bring to life ideas they are proud to hone and own. 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