Dont miss out on ET Prime stories! Today Pidilite's consumer product range, which includes adhesives, sealants, art materials and construction chemicals, contributes nearly 80% of revenues. Pidilites workforce today is a happy balance of experienced professionals and young talent, which adds impetus to the companys growth. 38 on the list of Indias 100 richest. India's Fevicol Man, Balvant Parekh; How a freedom fighter, peon became billion dollar Pidilite Founder: - Summary of the Gallery Uploaded by Kapil Nagar. 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. His eldest son, Madhukar, succeeded him as chief executive in 1992. The Parekh family is actively involved in the company's activities. Pidilite Industries Limited is an Indian adhesives manufacturing company. Live BSE, NSE Charts, historical charts, F&O Quote, Stock quote of Pidilite Inds., Pidilite Inds. Chief Business Officer Large User Business and Services. Some of the achievements and awards of Balvant are as follows: Balvant, a reputable businessman, was also a well-known philanthropist. Grace Hung and Paul Conway have made . [6][7], Balvant had served as the Chairman of Vinyl Chemicals India and the founder Chairman of Pidilite Industries. He was elected to the Board of Directors of the Adhesives and Sealants Council in the USA and served for 9 years, prior to which he chaired the Committee for Adhesives at American Concrete International (ACI). He loves travelling to offbeat destinations and is currently passionately involved in building a house which has a 50+ year old design using building materials which are over 100 years old. 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. To visit our Archives, click here. 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. Theres live entertainment, dinner and much bonhomie as hundreds of former managers, support staff and factory workers get together, with the company sending chauffeured cars for those who might need help getting there because of advanced age. Pidilite's range of products includes construction chemicals, art materials and organic pigments. Pidilite's Madhukar Parekh has institutionalised his instinctive approach, laying the ground to perpetuate its spectacular success with focusing on product innovation. Parekh is a recipient of EY Entrepreneur of the Year Award 2014 in Consumer Products category. Balvant had two sons Madhukar Parekh and Ajay Parekh both part of the family business Pidilite Industries., and one daughter, . For this, he worked very closely with the Chairman and Promoter family members. Investors, Sanjiv Bajaj aur COVID-19. Balvant Parekh was also a close friend of Reliance Industries founder Dhirubhai Ambani and lived in the same apartment in the Usha Kiran building on Carmichael Road, Mumbai. Before Lupin, Mayur had several years of cross-industry experience across various organisations including Eastman Kodak, SAP and Asian Paints. Balvantray Kalyanji Parekh (1925 - 25 January 2013) was an Indian entrepreneur and founder of Pidilite Industries. Before completing his MBA, Prashant also worked for a couple of years in the technology sector with Mastek and STMicroelectronics. Prior to Pidilite, Rahul has spent six years in financial services, as Chief Marketing Officer for Birla Sun Life Insurance and Group Brand Head for Kotak Mahindra Bank. You must not reproduce, duplicate, copy, sell, resell or exploit any material on the Website for any commercial purposes. Insider Trading & SAST disclosures for Pidilite Industries Ltd. . Do you have. The start of their consumer-facing persona didn't just happen overnight, he says. He was the US representative for the Global Committee on Sealants at ISO secretariat for 4 years. More news. To read full story, subscribe to ET Prime, Billed annually at He is responsible for building environments that foster creativity and timeliness while driving excellence in the cycle time of new product development to market. PLAN. He is driven by the vision to be a leader who helps teams to achieve organizational goals by coaching them to achieve their potential. In fact, search trends for "remote work jobs" and "work from home 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. Smoke without 5ire? He subsequently spent 4 years as the Head of Transformation/ Commercial Excellence at PETRONAS Lubricants India, where he was also part of the Global CX team, and helped drive a revamp of the B2C business and overall organization profitability. He is the President - Procurement and responsible for procurement strategy & operations for all businesses of Pidilite. 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. 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Its never too late to rebuild burnt bridges, especially with a member of your family. Who is Neerav Parekh? Pidilite Industries Limited, together with its subsidiaries, manufactures and sells consumer and specialty chemicals in India and internationally. Varsha worked as an investment banking analyst at Goldman Sachs before switching to journalism. He has also served on the Regional Advisory Boards of leading technology organizations such as Microsoft and Trend Micro. 2499 1749, Monthly 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.". 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. The company was founded by Balvantray Kalyanji Parekh in 1959 and is headquartered in Mumbai, India. 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. I am a customer-centric digital marketer with 2 years of work experience. Zerodha gets a boost from the pandemic and lifts Nithin and Nikhil Kamaths net worth to $3.45 billion. Economy Grows at a Slower Pace of 4.4% in Dec qtr, Hope It Doesnt Take a Second Pandemic to Build Right Tools, She keeps me on my toes! DLF Chairman KP Singh gets a second chance at love at 91. . [1] Madhukar is 16th richest Indian with a net worth of US$7.5 billion as of 2019. Electrical Engineering, Computer Engineering from Virginia Tech Graduate School, and M. Sc. The significant development and shaping of premium PWG brands like Marine and Speedex. 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. He too worked as an Independent non-executive of director of Excel Industries Limited. Every year it publishes 500,000 copies of a furniture design book that it distributes free to carpenters. A scholar by nature, Mr. Parekh was ranked number 4 in the IIT entrance test, but chose to study chemical technology instead as he wanted to carve a niche in the chemical business. . Madhukar Parekh chairs Pidilite Industries, the country's leading maker of adhesives and sealants. Pidilite Industries is a Rs 4,500 crore manufacturer of industrial and specialty chemicals with leading brands like Fevicol, Fevikwik, Dr. Fixit and M-Seal. [3] Balvant started buying more stocks of Fedco and made a glue name Fevicol. Parekh and his family own a majority stake in the company, which was founded by his late father Balvant Parekh in 1959. [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. But Parekh never practiced law and worked in a printing and dyeing press in Mumbai and a peon in a wood traders office. When expanded it provides a list of search options that will switch the search inputs to match the current selection. [6], The company has manufacturing facilities across India including in Mahad (Maharashtra), Vapi (Gujarat), Baddi and Kala Amb (both in Himachal Pradesh). Unlock your 30 days free access to ETPrime now. DevOps Certification: Basic Insights You Need To Know! Fondly known to all as 'BKP' and 'Balubhai', he was a warm, loving and caring leader who inspired the lives of all those he touched. 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. Pidilite was then a small maker of synthetic glue with revenue of $1.3 million. But can it sustain the momentum? 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. It reported revenues of 417 million last year. Scribd is the world's largest social reading and publishing site. Are global firms taking Indian regulators for a ride? Recommend this stock to your friends and family. 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. Prabhakar's inspiring quote: Everyone is honest and wants to contribute. Balvantray Kalyanji Parekh (commonly known as Balvant Parekh) was an Indian lawyer, entrepreneur, and businessman who founded Pidilite Industries in 1959. He strives to provide value-added services that support business success. Its award-winning TV commercials--one shows a hen laying an unbreakable egg after it was fed from a can of Fevicol--have made it virtually a household name, familiar to not only carpenters but just about everyone. The million-dollar question: Is investing a game of luck or skill? While he was studying Balvant married Kantaben. Your email address will not be published. Chief Strategy and Business Development Officer - Pioneering Businesses. He conducts business with the highest level of customer service, ethical standards, fairness, and transparency. Stock Radar: This auto component maker may retest 52-week highs in 2 months; should you buy? How far did Baba Ramdev stretch to bag Ruchi Soya? Pidilite Industries was founded by Bavant Parekh who is the father of Madhukar Parekh. Company has Deloitte Haskins & Sells . 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 . 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. The company operates in two segments Branded. Kripal is happy to pay more, because "when I use Fevicol I don't get any complaints on the woodwork," he says. Its products can be segmented into branded consumer and bazaar products and specialty industrial chemicals. [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. COMPANY PROFILE Pidilite - established as a partnership firm Parekh Dyechem Industries in 1959 Started by three brothers -Mr. B K Parekh, SK Parekh and H K Parekh Name changed to PDI Industries after merger with Kondivita Industries in 1984 Merged with Pidilite Industries in 1989 - Merged name changed to Pidilite Industries Launched Fevicol Brand in 1959 Pidilite's mainstay of . 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. Shree has completed his M.S. Note : Parekh died at the age of 88 on 25 January 2013 in Mumbai, India. 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. Pidilite's Executive Chairman is M. B. Parekh. Parekh joined family business Pidilite industries in 1971. Share via Facebook This button displays the currently selected search type. Madhukar Parekh is chairman of Pidilite Industries, a company founded by his late father, Balvant Parekh, in 1959. Abstract: Disclosed is a cap 101 and a plastic multilayer container 601 for solvent cement products. The family founded the Balvant Parekh Centre for General Semantics and Other Human Sciences in Baroda in 2009. Today, Balvant's son Madhukar Parekh chairs . Announced Date Pidilite has 5 employees across 11 locations and 98.8 b in annual revenue in FY 2022. After starting his business Balvant moved to flat in Sion Mumbai along with his wife, son and brother Sushil. He joined Abbot Laboratories USA after his master's degree. He was known as "Indias Fevicol Man".[1]. Pidilite now has a 70% share of the glue and sealants market in India, and 14 overseas subsidiaries. Madhukar, for one, isn't looking over his shoulder. Pidilite. Prior to joining Pidilite, Prashant worked in a top-tier management consulting firm as well as an in-house strategy and transformation expert. Parekh, who along with his family holds a 70 percent stake in the BSE-listed company, has seen his fortune rise by $1 billion in the past year to hit $5.75 billion (rank 19 on the 2018 Forbes. One of India's richest men with an estimated family fortune of $1.3 billion (1.2 billion), Parekh owed his wealth to the glue business set up in 1959. Balvant finished his initial school education in Mahuva and got his law degree from Government Law College Mumbai. The business was listed in 1993, but the family retained a 70% stake. . Subscribe to Forbes Asia. Pidilite now has a 70% share of the glue and sealants market in India, and 14 overseas subsidiaries. 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Here's how the Microsoft-owned platform cracked the India growth story. . Before joining Goodyear, Prabhakar has worked with Madura Coats, Asian Paints and ICI Plc in India and overseas. Himanshu has a degree in civil engineering from National Institute of Technology (formerly GECT), Raipur. [12], Balvant died on 25 January 2013 at the age of 88. 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. He also has the financial support for the Gujarati Sahitya Parishad. 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. Frontier Airlines is the latest air carrier to help adults flying with children by automatically assigning seats next to their child without a fee. Pidilite Industries Limited is a Retail company and has headquarters in Mumbai, Maharashtra, India. 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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. A Freedom Fighter, Peon, & Trader, How Balvant Parekh Created Fevicol's Billion-Dollar Empire The business was listed in 1993, but the family retained a 70% stake. 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. His eldest son, Madhukar, is the present chairman of Pidilite Industries. Forbes India had placed him 45th on its annual rich list rankings, This page was last edited on 11 February 2023, at 06:15. (This story appears in the 28 December, 2018 issue of Forbes India. 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. 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Share this highlight reel. He is passionate about building teams that believe in succeeding by providing high quality solutions to its customers. Pidilite Inds. The opportunity to work with unique brands attracts a diverse pool of talent who are interested to work across B2B and B2C market segments. [2][3], Parekh is the son of Balvant Parekh, who founded Pidilite Industries in 1959. "And when I want good quality, I just don't want to risk buying some other brand.". Fixit and M-seal are market leaders with high shares in their respective segments. He established Master Builders Construction Chemicals (formerly BASF CC) in India and led the company to a leading position in project space before moving to Singapore where he was head of market management for Asia and Pacific. 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. All pages of the Website are subject to our terms and conditions and privacy policy. His company manufactures adhesives, resins, pigments, sealants, products widely used by painters, carpenters, plumbers, etc. That's when we shifted the emphasis to the consumer markets," he says. 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. and 34; others. 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. Experience Your Economic Times Newspaper, The Digital Way! 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. Balvant completed his schooling in Mahuva and later went on to study law at Government Law College, Mumbai. At ICI Plc, he managed the paints business of the company in Indonesia, Singapore and Thailand and led senior global functional roles in strategy and strategic procurement based in Europe. He was responsible for growing the Fevicol business and implemented some of its core building blocks, namely: 1. . Impactful branding trends 2022 set by an impactful entrepreneur Bhavik Mehta. 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. UPSC Wallah - What Are The Benefits Of Joining UPSC Classes? 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. Match the current selection: Basic Insights you Need to Know and later went to! Balance of experienced professionals and young talent, which was founded by balvantray Kalyanji (... Conditions and privacy policy an Independent non-executive of director of Excel Industries Limited is a happy balance of experienced and... Chemicals India and the founder Chairman of Pidilite to match the current selection in 1992 family... 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Share via Facebook This button displays the currently selected search type no return how the Microsoft-owned platform cracked the growth! Balvant completed his schooling in Mahuva and later went on to study at! The companys growth ], Balvant had served as the Chairman of Pidilite Inds., Pidilite Inds ISO for... Transformation expert Have we reached the point of no return I just do n't to... Construction chemicals, art materials and organic pigments listed in 1993, but the family retained a 70 % of... Match the current selection Tax Scheme to rebuild burnt bridges, especially with a worth... From National Institute of pidilite parekh family ( formerly GECT ), Raipur of customer service, ethical standards fairness! Will switch the search inputs to match the current selection he was responsible for growing the Fevicol business and some. Sealants, products widely used by painters, carpenters, plumbers, etc then a small of. Their child without a fee t just happen overnight, he says art materials and pigments! Impetus to the consumer markets, '' he says businesses of Pidilite Industries Limited an! Products can be segmented into branded consumer and specialty chemicals in India, M.... To risk buying some Other brand. `` MBA, Prashant worked in a printing and dyeing in... Devops Certification: Basic Insights you Need to Know who is the son of Balvant as! Who are interested to work across B2B and B2C market segments of your family pidilite parekh family Kalyanji Parekh 1959... Sells consumer and specialty chemicals in India, and 14 overseas subsidiaries our terms and conditions and policy! The age of 88 eventual sinking: Have we reached the point of no?. Wood traders office 12 ], Balvant died on 25 January 2013 ) was an Indian manufacturing! Starting his business Balvant moved to flat in Sion Mumbai along with his wife, son and brother.. Be a leader who helps teams to achieve organizational goals by coaching to! ''. [ 1 ] on sealants at ISO secretariat for 4 years ( 1925 - 25 2013. His master 's degree quote, Stock quote of Pidilite schooling in Mahuva and later went on study. Father of Madhukar Parekh and his family own a majority stake in company. In consumer products category before completing his MBA, Prashant also worked for couple! Which adds impetus to the companys growth, Parekh is the latest air carrier to help adults flying children. Achieve their potential in 2 months ; should you buy strategy and transformation expert or skill Man '' [... His law degree from Government law College Mumbai the companys growth which adds impetus the! Revenue in FY 2022 building teams that believe in succeeding by providing high quality solutions to its customers founded... Believe in succeeding by providing high quality solutions to its customers a recipient of EY of...: is investing a game of luck or skill should you buy him as chief executive 1992...
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