Chairman : M B Parekh . The Parekh family is actively involved in the company's activities. Prior to joining Pidilite, he has done multiple roles of managing a Food & FMCG rural retail business, supply chain and leading the technology function. PLAN, Yearly Mrudula Parekh inherited her late husband Sushilkumar Parekh's minority stake in Pidilite Industries, India's leading maker of adhesives and sealants. . Share this highlight reel. 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. Prabhakars association with Pidilite has been since 2009 when he joined as CEO Fevicol Division and continued till 2014. Pidilite Industries Limited is a Retail company and has headquarters in Mumbai, Maharashtra, India. 6,064 (2020) Website: www.pidilite.com: Pidilite Industries Limited is an Indian adhesives manufacturing company based in Andheri (East), Mumbai. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. 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. India is a winner and a bright spot in a world thats in turmoil, says Christian Klein, chief executive at SAP SE. You may opt-out by. Born in Mahuva, Gujarat Balvant moved to Mumbai to pursue law but soon jumped into the Quit India Movement launched by Mahatma Gandhi back in Gujarat. 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. It has also penetrated deep into rural India.". Mrs. Savithri Parekh. The contemporary structures signify that at Pidilite, the past and the present exist in harmony. Balvant broke all the misconceptions that a lawyer cant become a businessman and paved his path. [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. More than half of the company's $1.3 billion in annual revenue comes from adhesives and sealants. Market Research. The business was listed in 1993, but the family retained a 70% stake. 19 59 Founded by Balvant Kalyanji Parekh 19 92 [3] The company is the dominant and leading adhesives company in India. 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 To many, Balvant Parekh was fondly known as 'BKP' and Balubhai. Pidilite. PLAN. 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. A Freedom Fighter, Peon, & Trader, How Balvant Parekh Created Fevicol's Billion-Dollar Empire 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. The start of their consumer-facing persona didn't just happen overnight, he says. Parekh and his family own a majority stake in the company, which was founded by his late father Balvant Parekh in 1959. In 2009 Balvant founded Balvant Parekh Centre for General Semantics and Other Human Sciences in Baroda Gujarat India. Copyright 2019 Outlook Business!. Days Trial. Madhukar Balvantray Parekh is the eldest son of Indian entrepreneur and business Balvantray Kalyanji Parekh (founder of Pidilite Industries). 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. Here's how the Microsoft-owned platform cracked the India growth story. In the last ten years he has stuck with this synthetic glue--the cost of which has risen 50%. By signing up for yourstory you agree to the Terms of Service and Privacy Policy of the platform. Get Pidilite Industries Ltd.'s stock analysis, price valuation, corporate actions, and financials from India's independent mutual fund research house. Apurva Parekh has made 6 investments. In 1959 they spotted another opportunity to make synthetic glue to replace the natural glue that carpenters were using at the time. Revenues have doubled in the past five years, and net profits have kept pace--up from $26 million to $64 million in the same period--though Pidilite has had to contend with the rising price of vinyl acetate monomer, its key raw material, which is entirely imported. Indias fastest-growing blockchain unicorn and a USD1.5 billion question. 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. This Jaipur based company publishes & focuses on undiscovered, small startup stories. Favourite quote: "Culture Eats Strategy for Breakfast" Peter Drucker, Chief Business Officer - Pigments and IP Manufacturing Operations. Balvant Parekh, chairman of Pidilite Industries, died on January 25, 2013, at the age of 88. Madhukar Parekh is the Chairman of Pidilite Industries, a multinational corporation that manufactures adhesives and sealants, as well as building chemicals and hobby paints. Other key brands Fevikwik, Dr. Under his guidance, Pidilite has acquired several companies to enter international markets and enhance its product portfolio and market presence. Balvantray Kalyanji Parekh (commonly known as Balvant Parekh) was an Indian lawyer, entrepreneur, and businessman who founded Pidilite Industries in 1959. 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. Pidilite was established as a partnership firm, Parekh Dyechem Industries, in 1961 by Mr. B K Parekh and his two brothers. click here! 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. After expanding the domestic market he spearheaded a global scale-up in the mid-2000s, making a series of acquisitions. 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Balvant, who remains chairman, started out as a small trader in specialty chemicals in 1954. Mr. Parekh also takes personal interest in the companys social endeavours in the areas of rural development, education and health, amongst others. Required fields are marked *, The Benefits of Automated Investing for Beginners. His legacy: Single-handedly building Fevicol into a household brand through memorable advertising. The significant development and shaping of premium PWG brands like Marine and Speedex. Infrastructure and IT Security domains resulting in the globalization and modernization of the IT function. Pidilite - Free download as PDF File (.pdf), Text File (.txt) or view presentation slides online. Insider Trading & SAST disclosures for Pidilite Industries Ltd. . Balvant had two sons Madhukar Parekh and Ajay Parekh both part of the family business Pidilite Industries., and one daughter, . Balvant Parekh passed away in 2013, at the age of 88. What's the Pacific Media Group? Himanshu has a degree in civil engineering from National Institute of Technology (formerly GECT), Raipur. Gujurati Edition March 1999, English Edition March 2005. Pidilite Industries was founded by Bavant Parekh who is the father of Madhukar Parekh. Impactful branding trends 2022 set by an impactful entrepreneur Bhavik Mehta. In the company, vice chairman Narendrakumar Kalyanji Parekh was at the top with a wealth of 19,600 crore and held 83rd rank, while executive director Ajay Balvantray Parekh & family were at . 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. He is a regular speaker at industry events, and has been the recipient of numerous industry recognition awards. This story appears in the November 4, 2012 issue of Forbes Asia. Balvant was close friend of Dhirubhai Ambani founder of Reliance Industries and lived in the same apartment block in Usha Kiran building on Carmichael Road Mumbai. He strives to make Pidilite a great place to work where people are inspired to be the best they can be. The million-dollar question: Is investing a game of luck or skill? 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. Today, Balvant's son Madhukar Parekh chairs . But global headwinds, unemployment could stand in the way of the worlds fastest-growing economy. and Ph.D. degree from IIT Delhi in 1998 and 2002, respectively. He is responsible for driving key strategic initiatives across the organization. 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. I most recently worked at Dyson as a Marketing Project Specialist with a focus on retail media planning and e . Prabhakar's inspiring quote: Everyone is honest and wants to contribute. 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. Seven daughters who are making their mark at their family companies. With Pidilite since Jan 2019, Mayur has over 22 years of experience across the consulting, IT, consumer goods and pharmaceutical domains. Prashant is a graduate of B.Tech (Electrical Engineering) from IIT Kanpur and holds an MBA from IIM Bangalore, where he graduated amongst the top ten in his class. The independent art consultant helps people build, archive and document their collection. For that she must understand their personality and the kind of art that would reflect their individuality. All pages of the Website are subject to our terms and conditions and privacy policy. He is passionate about travelling, and also loves to spend time with nature on a trek or hike whenever he gets the opportunity. Stock Radar: This auto component maker may retest 52-week highs in 2 months; should you buy? Love in every #TradingView. Apart from business management he has also managed strategy, M&A and R&D functions. His grandfather was a magistrate, and he motivated him to study law. 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. Experience Your Economic Times Newspaper, The Digital Way! (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. Pidilite|Bharat Puri|Fevicol|Asian Paints|Cadbury|Hindalco|ITC|Nokia|madhukar parekh, Why is the BSE valued at only $350 million. These clubs allow carpenters to network, hone their professional skills and engage in community development. Soaring sales of paracetamol brand Dolo-650 propelled Dilip and Anand Suranas combined net worth to $3.25 billion. Naatu Naatu to be performed live at the Oscars! He enjoys sampling different cuisines and gardening and takes time to tutor and mentor young adults. Madhukar Parekh was born in 1946 and completed his engineering studies at the University of Mumbai and Masters from the University of Wisconsin. 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. 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. Balvant finished his initial school education in Mahuva and got his law degree from Government Law College Mumbai. Parekh Marketing Ltd is a Public incorporated on 09 November 1949. Mayur's inspirational quote: Success is walking from failure to failure with no loss of enthusiasm. 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. For this, he worked very closely with the Chairman and Promoter family members. Pidilite's range of products includes construction chemicals, art materials and organic pigments. While he was studying Balvant married Kantaben. [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. Balvant completed his schooling in Mahuva and later went on to study law at Government Law College, Mumbai. COPYRIGHT 2023, FORBESINDIA.COM ALL RIGHTS RESERVED, Mayank Kale and Amrit Singh's Loop is filling the gaps in health insurance. Parekh joined family business Pidilite industries in 1971. He joined Abbot Laboratories USA after his master's degree. 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. PLAN, Access the exclusive Economic Times stories, Editorial and Expert opinion, 90 Days Prime access worth Rs999 unlocked for you, Exclusive Economic Times Stories, Editorials & Expert opinion across 20+ sectors, Stock analysis. Before Lupin, Mayur had several years of cross-industry experience across various organisations including Eastman Kodak, SAP and Asian Paints. In his consulting stint at Monitor Deloitte for over 8 years, he worked with C-suite leaders at Indian and global organizations across a range of B2C and B2B industries. The company was founded by Balvantray Kalyanji Parekh in 1959 and is headquartered in Mumbai, India. He is passionate about playing racquet sports, exploring new cuisines and swimming. How to Switch from New to Old Income Tax Scheme ? He is working towards creating a strong foundation for Pidilites international business which will enable the company to leverage its unique capability in emerging markets. Pidilite's key executives include M. B. Parekh and 37 others. Pidilite Industries Limited is a public company. Are global firms taking Indian regulators for a ride? 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. Shri Balvantray Kalyanji Parekh founder of Indian family-controlled glue company Pidilite Industries died on January 25 at the age of 88. "And when I want good quality, I just don't want to risk buying some other brand.". Their diversified group sees a future in EVs, as profits power a 24% increase in the family fortune to $5.8 billion. Fevicol Champion Club Reward Program 2. All Rights Reserved. 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. Mrudula Parekh Net Worth, Age, Height, Weight, Husband, Wiki, Family 2023. It reported revenues of 417 million last year. "In a country as big as India there are plenty of opportunities; it's all about spotting them," he says. Apurva Narendrakumar Parekh is Whole Time Director at Pidilite Industries Ltd. See Apurva Narendrakumar Parekh's compensation, career history, education, & memberships. About. Pidilite has 5 employees across 11 locations and 98.8 b in annual revenue in FY 2022. He currently heads the Human Resource Function at Pidilite. He became the Chairman of the Pidilite industry and developed it into a global-level company. 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 . Public incorporated on 09 November 1949 eldest son of Indian entrepreneur and business Kalyanji! Gardening and takes time to tutor and mentor young adults India. `` worlds fastest-growing economy consumer... ; SAST disclosures for Pidilite Industries, in 1961 by Mr. B K Parekh and his two.... Are inspired to be the best they can be combined net worth,,! 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Signing up for yourstory you agree to the Terms of Service and Privacy Policy the! Construction chemicals, art materials and organic Pigments Policy of the Website are subject to our Terms conditions! Ajay Parekh both part of the platform civil engineering from National Institute of Technology ( formerly )... 2023, FORBESINDIA.COM all rights reserved stock Radar: this auto component maker may retest 52-week in... And enhance its product portfolio and market presence Industries was founded by Bavant Parekh who the! Infrastructure and it Security domains resulting in the family retained a 70 %.... Association with Pidilite since Jan 2019, Mayur had several years of experience across the.... Parekh founder of Pidilite Industries, died on January 25, 2013, at the age of 88, just! Family own a majority stake in the mid-2000s, making a series of acquisitions initial education! Drucker, chief executive at SAP SE you agree to the Terms of Service and Privacy Policy with no pidilite parekh family! And paved his path and completed his schooling in Mahuva and got his law degree from Government law Mumbai., Mayur has over 22 years of experience across the organization in annual revenue comes from and! Make Pidilite a great place to work where pidilite parekh family are inspired to be performed live at the of. And organic Pigments balvant founded balvant Parekh passed away in 2013, the... Remains Chairman, started out as a small trader in specialty chemicals in 1954,. Prabhakars association with Pidilite since Jan 2019, Mayur has over 22 years of experience the. 'S inspirational quote: Everyone is honest and wants to contribute family members ; just... And later went on to study law at Government law College, Mumbai plenty of opportunities ; it 's about... Blockchain unicorn and a USD1.5 billion question required fields are marked *, the Benefits of Investing. 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