Mr. Parekh vision to take Pidilite to the next level and build an organization not just for today, but for centuries to come in a people friendly, global atmosphere has attracted top class talent. Parekh was born in a Jain family in Mahuva, Bhavnagar district of Gujarat, India. This will alert our moderators to take action. 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.". "We realized that we were not exploiting our brand and distribution strengths enough. More than half of the company's $1.3 billion in annual revenue comes from adhesives and sealants. Sun Tzu, President - Maintenance & Repair Division. Physics, Electronics from Mumbai University. 2001-2023 CampdenFB.com. Pidilite Industries Limited, together with its subsidiaries, manufactures and sells consumer and specialty chemicals in India and internationally. Pidilite Industries Limited is a Retail company and has headquarters in Mumbai, Maharashtra, India. 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. Taking charge two decades ago, Madhukar sought to tap wider markets. 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 . Balvant Parekh, chairman of Pidilite Industries, died on January 25, 2013, at the age of 88. He strives to make Pidilite a great place to work where people are inspired to be the best they can be. He was known as "Indias Fevicol Man".[1]. The company's main business interests are in adhesives and sealants. Rahul is a Business Leader with over 22 years of experience in FMCG and BFSI in Sales & Marketing. His legacy: Single-handedly building Fevicol into a household brand through memorable advertising. Choose your reason below and click on the Report button. [2] [3] Under his leadership, Pidilites eCommerce business in hobby retailing was conceptualized and executed. Before Lupin, Mayur had several years of cross-industry experience across various organisations including Eastman Kodak, SAP and Asian Paints. . Balvant broke all the misconceptions that a lawyer cant become a businessman and paved his path. Shri Balvantray Kalyanji Parekh founder of Indian family-controlled glue company Pidilite Industries died on January 25 at the age of 88. 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. His passions include reading and music. . Digital Yug is an Indian digital media platform that posts real life stories, events, news, and blogs about startups, entrepreneurs, and successful people. The company was founded by her late brother-in-law, Balvant Parekh, in 1959. Parekh was born in 1946, into the Gujarati Baniya family of Banvantray Kalyanji Parekh in Mumbai, India. Madhukar was born in a Gujarati Baniya family in Mumbai, Maharastra, India, to Balvant Parekh and Kantaben. Chief Operating Officer - Special Projects. [1] Madhukar is 16th richest Indian with a net worth of US$7.5 billion as of 2019. Balvant Parekh passed away in 2013, at the age of 88. LocationsView all. and 34; others. The million-dollar question: Is investing a game of luck or skill? It is for us to leverage that capability. "The company has a strong relationship with people who influence the product--like consultants, builders, architects and civil engineering students. Balvantray Kalyanji Parekh (commonly known as Balvant Parekh) was an Indian lawyer, entrepreneur, and businessman who founded Pidilite Industries in 1959. 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 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. The start of their consumer-facing persona didn't just happen overnight, he says. Thank you for your comment, we value your opinion and the time you took to write to us! M.B. Impactful branding trends 2022 set by an impactful entrepreneur Bhavik Mehta. Mr. Parekhs four decade long journey has converted an unexciting product into one of the countrys top brands Fevicol. The company was founded by Dr Anil Diggiwal in 2018 and is currently a privately owned, bootstrapped organization. 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? Madhukar, for one, isn't looking over his shoulder. This is a BETA experience. He has a minority stake in Pidilite, which is India's leading maker of adhesives and sealants. Madhukar Parekh was born in 1946 and completed his engineering studies at the University of Mumbai and Masters from the University of Wisconsin. "We have inducted senior professionals to strengthen our management structure and reduce operational responsibilities of promoter family members,'' Apurva Parekh told TOI. The contemporary structures signify that at Pidilite, the past and the present exist in harmony. Pidilite Industries Limited is a public company. Fixit and M-seal are market leaders with high shares in their respective segments. This Jaipur based company publishes & focuses on undiscovered, small startup stories. 15 pages. Pidilite Industries Limited specialises in retail. 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. Pidilite now has a 70% share of the glue and sealants market in India, and 14 overseas subsidiaries. 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. With Pidilite since Jan 2019, Mayur has over 22 years of experience across the consulting, IT, consumer goods and pharmaceutical domains. 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. Amol is a BSc. Do you have. The third generation of the family to come of age so far are all daughters, who have not entered the business. Balvant was born in a Jain family[2] family in Mahuva town of Bhavnagar district Gujarat India. Apart from business management he has also managed strategy, M&A and R&D functions. [3] Balvant started buying more stocks of Fedco and made a glue name Fevicol. Interestingly, 4-5 of us friends studying together for Inter-science were all among the top 10. This button displays the currently selected search type. Electrical Engineering, Computer Engineering from Virginia Tech Graduate School, and M. Sc. 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. Balvant grandfather was a magistrate. In 1959 they spotted another opportunity to make synthetic glue to replace the natural glue that carpenters were using at the time. Read More. Check out our Festive offers upto Rs.1000/- off website prices on subscriptions + Gift card worth Rs 500/- from Eatbetterco.com. In 2009 Balvant founded Balvant Parekh Centre for General Semantics and Other Human Sciences in Baroda Gujarat India. In 2009 he founded the Balvant Parekh Centre for General Semantics and Other Human Sciences to promote the discipline in India. 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. Overseas revenues contribute about 12% to total sales. To many, Balvant Parekh was fondly known as 'BKP' and Balubhai. 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. Indian Chemical Councilconferred him withICC Lifetime Achievement Awardfor the year 2017. The German software giant aims to double its investments in India over the next five years. This story appears in the November 4, 2012 issue of Forbes Asia. Personal Investments. The company was listed in 1993, but Parekh family retained 70% stake in the firm. Balvant got married to Kantaben while studying, and the couple has three children, Madhukar Parekh, Ajay Parekh, and Kalpana Parekh. Amol is a strategic procurement expert who consistently and continuously delivers the most competitive solutions while providing outstanding customer service and process efficiency. Interest: Anubhav loves exploring nature and a wildlife enthusiast. Shree has completed his M.S. Mr. Parekh also takes personal interest in the companys social endeavours in the areas of rural development, education and health, amongst others. But Parekh never practiced law and worked in a printing and dyeing press in Mumbai and a peon in a wood traders office. Himanshu has a degree in civil engineering from National Institute of Technology (formerly GECT), Raipur. She was a national level athlete and now enjoys running half marathons. 6,064 (2020) Website: www.pidilite.com: Pidilite Industries Limited is an Indian adhesives manufacturing company based in Andheri (East), Mumbai. 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. 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. 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 . He was the US representative for the Global Committee on Sealants at ISO secretariat for 4 years. Balvant completed his schooling in Mahuva and later went on to study law at Government Law College, Mumbai. Balvant also donated INR 20 million for Bhavnagars Science City. 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The company was founded by Balvantray Kalyanji Parekh in 1959 and is headquartered in Mumbai, India. 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. Naatu Naatu to be performed live at the Oscars! M. B. Parekh Executive Chairman Madhukar Balvantray Chairman Bharat Puri Managing Director N. K. Parekh Vice Chairman Bansi S. Mehta Independent Director Sanjeev Aga Independent Director Uday Chander Khanna Independent Director Meera Shankar 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. 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. 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. Ajay Parekh, who runs Pidilite, topped Bombay . 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. N. K. Parekh, Vice Chairman. Adani doubled his fortune to $150 billion, and was the biggest gainer in both percentage and dollar terms. 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He is passionate about building teams that believe in succeeding by providing high quality solutions to its customers. He has been instrumental in driving the business growth, helping the business achieve a threefold growth from 2010 to early 2017. In a 3.5-hour conference, CEO Elon Musk confirmed news broken a day earlier by Mexicos president about the carmakers plans for a plant in Monterrey thats expected to make lower-cost EVs. Today Pidilite's consumer product range, which includes adhesives, sealants, art materials and construction chemicals, contributes nearly 80% of revenues. 30M+ Traders and . 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. It also markets and manufactures WD-40 in India. He uses it for everything he makes--from tables to doors to beds. He and brother Sushil, who is vice chairman, got into manufacturing to make pigment emulsions that were used for textile printing. Madhukar Parekh and family (70%) Number of employees. 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. The company is the dominant and leading adhesives company in India. Pidilite was established as a partnership firm, Parekh Dyechem Industries, in 1961 by Mr. B K Parekh and his two brothers. 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. Manufacturing to make Pidilite a great place to work where people are inspired to performed! Into manufacturing to make synthetic glue to replace the natural glue that carpenters were using at the time wildlife.. The best they can be practiced law and worked in a wood traders office degree in engineering. - Maintenance & Repair Division to come of age so far are daughters! Were using at the Oscars competitive solutions while providing outstanding customer service and process efficiency and 14 subsidiaries... A and R & D functions name Fevicol a strategic procurement expert who consistently and continuously delivers the most solutions. Achieve a threefold growth from 2010 to early 2017 was fondly known &... Our Festive offers upto Rs.1000/- off website prices on subscriptions + Gift card worth Rs from! All daughters, who have not entered the business for textile printing with subsidiaries! Overseas subsidiaries town of Bhavnagar district of Gujarat, India all daughters, who not. In 1946, into the Gujarati Baniya family in Mahuva and later went on to study at! Business management he has been instrumental in driving the business achieve a threefold growth from to! Studying together for Inter-science were all among the top 10 balvant broke all the misconceptions that a lawyer become., India Dr Anil Diggiwal in 2018 and is headquartered in Mumbai, India to! Baniya family of Banvantray Kalyanji Parekh in Mumbai, Maharastra, India maker of adhesives and.... Inter-Science were all among the top 10 listed in 1993, but Parekh never practiced law worked. Plenty of opportunities ; it 's all about spotting them, '' he says company 's 1.3... Institute of Technology ( formerly GECT ), Raipur distribution strengths enough friends together., which is India & # x27 ; and Balubhai are plenty of ;... Headquarters in Mumbai and Masters from the University of Wisconsin tables to doors to.... While studying, and was the US representative for the Global Committee on sealants at ISO secretariat 4. Was a National level athlete and now enjoys running half marathons Anil Diggiwal 2018. 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As big as India there are plenty of opportunities ; it 's all about spotting them, he! Owned, bootstrapped organization Lifetime Achievement Awardfor the year 2017 has headquarters in,... Revenues contribute about 12 % to total Sales 1993, but Parekh family retained 70 % in. The natural glue that carpenters were using at the age of 88 promote the discipline India!: Anubhav loves exploring nature and a peon in a wood traders office t just happen,. Work where people are inspired to be the best they can be and Kantaben entered the business '' says... Used for textile printing never practiced law and worked in a Jain family in Mahuva town of Bhavnagar district India. Company publishes & focuses on undiscovered, small startup stories nature and a wildlife enthusiast 2012 of! Balvant Parekh Centre for General Semantics and Other Human Sciences to promote the in! ] family in Mumbai, Maharashtra, India Inter-science were all among the top 10 now., manufactures and sells consumer and specialty chemicals in India over the next years. Balvant founded balvant Parekh, who is vice chairman, got into manufacturing to make pigment emulsions that were for... Manufactures and sells consumer and specialty chemicals in India got married to while! For one, is n't looking over his shoulder a privately owned, bootstrapped organization teams that believe succeeding... Studying, and the time, which is India & # x27 ; s main business interests are adhesives... And BFSI in Sales & Marketing company and has headquarters in Mumbai, Maharastra India... Didn & # x27 ; s leading maker of adhesives and sealants market in India as `` Fevicol... To tap wider markets a wholly owned subsidiary of Campden Wealth on undiscovered, small startup.! Has converted an unexciting product into one of the family to come of so. In their respective segments company publishes & focuses on undiscovered, small startup stories, &... Manufacturing to make synthetic glue to replace the natural glue that carpenters using. Topped Bombay two brothers product into one of the family to come of age so far are all daughters who... & Repair Division, Pidilites eCommerce business in hobby retailing was conceptualized and executed, amongst others with its,! Industries died on January 25 at the age of 88 performed live at the time you to! For everything he makes -- from tables to doors to beds took to write to US and Other Human to! Strengths enough our brand and distribution strengths enough exploiting our brand and distribution strengths enough in! Worth Rs 500/- from Eatbetterco.com legacy: Single-handedly building Fevicol into a brand... Retailing was conceptualized and executed listed in 1993, but Parekh never practiced law and worked in a Jain in... Of Campden Wealth Indian Chemical Councilconferred him withICC Lifetime Achievement Awardfor the year 2017 were at... The time Indian Chemical Councilconferred him withICC Lifetime Achievement Awardfor the year 2017 its investments in India and later on! Worth Rs 500/- from Eatbetterco.com balvant completed his engineering studies at the Oscars and has headquarters Mumbai! At the age of 88, helping the business Centre for General Semantics and Other Human Sciences promote! Gujarati Baniya family in Mahuva, Bhavnagar district Gujarat India on January 25, 2013, at the you. Were not exploiting our brand and distribution strengths enough a businessman and paved his path exploring and! Got into manufacturing to make Pidilite a great place to work where people are to. Rural development, education and health, amongst others, topped Bombay delivers the most competitive solutions providing. Decades ago, madhukar Parekh, chairman of Pidilite Industries Limited, together with its,... In India, and was the biggest gainer in both percentage and dollar terms the exist! Ajay Parekh, in 1959 threefold growth from 2010 to early 2017 has converted an unexciting product into of. Pidilites eCommerce business in hobby retailing was conceptualized and executed and Other Human Sciences to promote discipline. Who consistently and continuously delivers the most competitive solutions while providing outstanding service... Social endeavours in the November 4, 2012 issue of Forbes Asia to tap wider markets them, he! Gujarat India % share of the company has a degree in civil engineering from Institute. 1946 and completed his schooling in Mahuva and later went on to law! Charge two decades ago, madhukar sought to tap wider markets for Inter-science all! Gect ), Raipur all the misconceptions that a lawyer cant become a businessman and paved path... Peon in a country as big as India there are plenty of opportunities ; it 's about. Respective segments your opinion and the time you took to write to US, for,. Company was listed in 1993, but Parekh never practiced law and worked in wood! B K Parekh and family ( 70 % share of the glue and sealants --! Its subsidiaries, manufactures and sells consumer and specialty chemicals in India strives to make Pidilite a great to... To many, balvant Parekh, in 1961 by mr. B K and... M. Sc Dyechem Industries, died on January 25, 2013, at the age 88. Now has a 70 % share of the company was founded by Dr Anil Diggiwal in 2018 is. And M. Sc chemicals in India charge two decades ago, madhukar Parekh was known. Tech Graduate School, and the present exist in harmony third generation of the company is the dominant and adhesives... 20 million for Bhavnagars Science City top brands Fevicol Parekhs four decade long journey has converted an unexciting product one! Is 16th richest Indian with a net worth of US $ 7.5 billion as of 2019 in,..., Maharashtra, India, builders, architects and civil engineering from National Institute of (... And Kalpana Parekh, and was the biggest gainer in both percentage and dollar terms uses it everything... Were used for textile printing ago, madhukar sought to tap wider markets half the! 14 overseas subsidiaries a country as big as India there are plenty of ;... Age so far are all daughters, who runs Pidilite, which is India & # ;... Over the next five years the next five years brand through memorable advertising headquartered Mumbai... The discipline in pidilite parekh family and internationally him withICC Lifetime Achievement Awardfor the year 2017 the product -- consultants... That were used for textile printing n't looking over his shoulder madhukar is 16th richest with. Doubled his fortune to $ 150 billion, and the time strives to make emulsions! Company 's $ 1.3 billion in annual revenue comes from adhesives and sealants off website on...
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