To many, Balvant Parekh was fondly known as 'BKP' and Balubhai. Himanshu has a degree in civil engineering from National Institute of Technology (formerly GECT), Raipur. (This story appears in the 28 December, 2018 issue of Forbes India. Includes DocuBay and TimesPrime Membership. But Parekh never practiced law and worked in a printing and dyeing press in Mumbai and a peon in a wood traders office. His legacy: Single-handedly building Fevicol into a household brand through memorable advertising. The business was listed in 1993, but the family retained a 70% stake. He was known as "India's Fevicol Man". Every year it publishes 500,000 copies of a furniture design book that it distributes free to carpenters. 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. Pidilite 2. He was known as "Indias Fevicol Man".[1]. 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. Announced Date His passions include reading and music. News, Videos, Stock . 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 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. Senior Vice President - Legal & Secretarial Chemical Engineering Pidilite India. [1] Madhukar is 16th richest Indian with a net worth of US$7.5 billion as of 2019. The company operates in two segments Branded. Balvant completed his schooling in Mahuva and later went on to study law at Government Law College, Mumbai. Pidilite Industries was founded by Bavant Parekh who is the father of Madhukar Parekh. It reported revenues of 417 million last year. 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, for one, isn't looking over his shoulder. This article about an Indian company is a stub. Shree has completed his M.S. Before completing his MBA, Prashant also worked for a couple of years in the technology sector with Mastek and STMicroelectronics. To celebrate the occasion of Mr. Parekh's 75th birthday. 0 ratings 0% found this document useful (0 votes) 1 views. 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 responsible for driving key strategic initiatives across the organization. Do you have. Parekh was also one of the wealthiest persons in India, having a net worth in the billions. This story appears in the November 4, 2012 issue of Forbes Asia. Unlock your 30 days free access to ETPrime now. 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. Uploaded by Kapil Nagar. His eldest son, Madhukar, is the present chairman of Pidilite Industries. In fact, search trends for "remote work jobs" and "work from home "In a country as big as India there are plenty of opportunities; it's all about spotting them," he says. Madhukar Parekh and family (70%) Number of employees. Read More. 30M+ Traders and . Sun Tzu, President - Maintenance & Repair Division. In 1959 they spotted another opportunity to make synthetic glue to replace the natural glue that carpenters were using at the time. He also serves as an Executive Director of Pidilite Industries and Vinyl Chemicals India Ltd.[11], Last edited on 12 February 2023, at 05:17, University Department of Chemical Technology, "Madhukar Parekh's Pidilite Industries Earns His Family $1.36 Billion", "Madhukar Parekh Of Pidilite Is Moving From Strength To Strength", "The winners of the Entrepreneur Of The Year 2014 awards", https://en.wikipedia.org/w/index.php?title=Madhukar_Parekh&oldid=1138887903, Ranked 13 on Business Today Top 25 business leaders in India 2012, Chemtech Business leader of the Year 2013, EY Entrepreneur of the year - Consumer products 2014, This page was last edited on 12 February 2023, at 05:17. Foodpanda Case Study: How the Billion Dollar Startup Model Failed? Pidilite Industries, incorporated in the year 1969, is a Large Cap company (having a market cap of Rs 116908.66 Crore) operating in Diversified sector. Balvantray Kalyanji Parekh was born in a Jain household in the Bhavnagar district in Gujarat. Balvant, who remains chairman, started out as a small trader in specialty chemicals in 1954. 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. Pidilite's key executives include M. B. Parekh and 37 others. If it is one thing that Manish cannot resist, it is a challenge - whether it was leaving the US and returning back to India almost 25 years ago, to begin his career at an IT company (at a time when the industry was in its infancy), or to move away from IT Services to set up, grow, and lead the BPO business at Datamatics and make it a successful IPO. "And when I want good quality, I just don't want to risk buying some other brand.". Chairman : M B Parekh . 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. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Rahul is a Business Leader with over 22 years of experience in FMCG and BFSI in Sales & Marketing. Gautams inspirational quotes reflect his leadership style of 'authenticity and teamwork': "Be yourself, everyone else is taken", "Talent wins games, but teamwork, an attitude to learn and a relentless effort wins championships". Today Pidilite's consumer product range, which includes adhesives, sealants, art materials and construction chemicals, contributes nearly 80% of revenues. I shocked them by saying that I would go to IIT. Naatu Naatu to be performed live at the Oscars! 2499 1749, Monthly 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. 2001-2023 CampdenFB.com. Prior to joining Pidilite, Prashant worked in a top-tier management consulting firm as well as an in-house strategy and transformation expert. Balvant was born in a Jain family[2] family in Mahuva town of Bhavnagar district Gujarat India. Search and display advertising arent the only parts of the marketing landscape that have changed over the past three years. The company was listed in 1993, but Parekh family retained 70% stake in the firm. 38 on the list of Indias 100 richest. This will alert our moderators to take action. You can help Wikipedia by expanding it. The independent art consultant helps people build, archive and document their collection. "We have inducted senior professionals to strengthen our management structure and reduce operational responsibilities of promoter family members,'' Apurva Parekh told TOI. The Parekhs have remain actively involved, with five family members in senior management positions including Parekh's two sons. 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 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. The significant development and shaping of premium PWG brands like Marine and Speedex. 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 . He has been instrumental in driving the business growth, helping the business achieve a threefold growth from 2010 to early 2017. Share via Facebook Digital Yug is an Indian digital media platform that posts real life stories, events, news, and blogs about startups, entrepreneurs, and successful people. Frontier Airlines is the latest air carrier to help adults flying with children by automatically assigning seats next to their child without a fee. He is responsible for building environments that foster creativity and timeliness while driving excellence in the cycle time of new product development to market. News flow. The contemporary structures signify that at Pidilite, the past and the present exist in harmony. Rahul started his career in ITC Limited where he spent nine years across various roles and businesses. Stock Radar: This auto component maker may retest 52-week highs in 2 months; should you buy? He has also served on the Regional Advisory Boards of leading technology organizations such as Microsoft and Trend Micro. She started off at Business India and later moved to Forbes India where she writes across industries and companies but has a bias towards startups, technology and the FMCG sector. He is passionate about playing racquet sports, exploring new cuisines and swimming. You must not reproduce, duplicate, copy, sell, resell or exploit any material on the Website for any commercial purposes. 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. He was responsible for growing the Fevicol business and implemented some of its core building blocks, namely: 1. Indian Chemical Councilconferred him withICC Lifetime Achievement Awardfor the year 2017. The company was founded by her late brother-in-law, Balvant Parekh, in 1959. Chief Business Officer Large User Business and Services. He loves spending time with his music, books and family. Share this highlight reel. I most recently worked at Dyson as a Marketing Project Specialist with a focus on retail media planning and e . Varsha worked as an investment banking analyst at Goldman Sachs before switching to journalism. Experience Your Economic Times Newspaper, The Digital Way! 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. 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. 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. . That said, the sprawling campus does have a few new buildings, a swimming pool and a large cafeteria. Continuing the focus on product and brand innovation, under his leadership, Pidilite has clearly differentiated itself from competition in this otherwise generic market. It is classified as Non-govt company and is registered at Registrar of Companies, Mumbai. Manish has completed his M.S. . [3] The company is the dominant and leading adhesives company in India. He and brother Sushil, who is vice chairman, got into manufacturing to make pigment emulsions that were used for textile printing. Your use of this site is governed by the Terms and Conditions. You may opt-out by. 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. PIDILITIND Long Side in Positional Basis Opportunity Wait For Green Closing Candle Near price 2662 & Start to Long Run. Live BSE, NSE Charts, historical charts, F&O Quote, Stock quote of Pidilite Inds., Pidilite Inds. 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. All Rights Reserved. Malay Rashmikant Parekh - Trustee of Anuja Family Trust: Promoter Group: Acquisition: 30 Dec 2019: 12,500: 25,000 0.00 % 0: 27 Dec 2019 27 Dec 2019: Insider Trading : Equity Shares: Gift: Bhavna Modi: Employees Immediate Relative . Current Hourly & 30 Min TF is bearish so wait For One Daily Time frame Green Candle & enter. Market Research. What's the Pacific Media Group? "Fevicol is synonymous with glue in India," acknowledges Ankur Agarwal, vice president for Indian midcaps at Nomura Securities' Mumbai office. Grace Hung and Paul Conway have made . 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. 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. He became the Chairman of the Pidilite industry and developed it into a global-level company. Prior joining to Pidilite, Anubhav was Global Technology Director-Corporate R&D (CRD) at Momentive Performance Materials where he defined CRD vision, strategy and metric for successful CRD organisation and developed an ecosystem for driving innovation. 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. In 1954 on invitation from the managing director of Hoechst Balvant went to Germany for a month. He donated INR 20 million for Bhavnagars Science city project and also donated to Gujarati Sahitya Parishad. 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. Days Trial [4] Parekh secured rank 4 in IIT JEE examination yet remained to study at UDCT. Scribd is the world's largest social reading and publishing site. responsible for the commercial and P&L management responsibility for the region and also a member of the global corporate leadership council. 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. So, let us delve into this article to read the success story of this brilliant lawyer who turned into an entrepreneur. Balvantray Kalyanji Parekh (commonly known as Balvant Parekh) was an Indian lawyer, entrepreneur, and businessman who founded Pidilite Industries in 1959. Parekh is a recipient of EY Entrepreneur of the Year Award 2014 in Consumer Products category. Madhukar Parekh is the Chairman of Pidilite Industries, a multinational corporation that manufactures adhesives and sealants, as well as building chemicals and hobby paints. Parekh served as chairman as well as managing director at Vinyl chemical India limited. The Parekh family is actively involved in the company's activities. 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. 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. He enjoys sampling different cuisines and gardening and takes time to tutor and mentor young adults. Some of the achievements and awards of Balvant are as follows: Balvant, a reputable businessman, was also a well-known philanthropist. Pidilite. Prabhakars association with Pidilite has been since 2009 when he joined as CEO Fevicol Division and continued till 2014. The company was founded by Balvantray Kalyanji Parekh in 1959 and is headquartered in Mumbai, India. . Basit Malik : one of those classical examples of teenagers who end up their legacy as a legend. He is a regular speaker at industry events, and has been the recipient of numerous industry recognition awards. Rahul moved as President - HR in July, 2017. Adani doubled his fortune to $150 billion, and was the biggest gainer in both percentage and dollar terms. With a total of 40 years work experience, Amol has spent 26 years at Pidililte. In 2022, Pidilite Industries partnered with 100x.VC.[7]. Prior to joining Pidilite, he has done multiple roles of managing a Food & FMCG rural retail business, supply chain and leading the technology function. Share Price, Future and Options Pidilite Inds. How to Switch from New to Old Income Tax Scheme ? The great melting and eventual sinking: Have we reached the point of no return? Infrastructure and IT Security domains resulting in the globalization and modernization of the IT function. How far did Baba Ramdev stretch to bag Ruchi Soya? Balvant finished his initial school education in Mahuva and got his law degree from Government Law College Mumbai. Pankaj has lead and managed various IT and Digital projects at Pidilite like SAP implementation, digital workplace implementation through office 365, upgrade and collocation of datacenter, upgradation of information security architecture and deployment of disaster recovery systems for business continuity and contributed to implementation of secondary sales software and sales force automation using tablets for sales teams. "We realized that we were not exploiting our brand and distribution strengths enough. Pidilite was established as a partnership firm, Parekh Dyechem Industries, in 1961 by Mr. B K Parekh and his two brothers. Before Lupin, Mayur had several years of cross-industry experience across various organisations including Eastman Kodak, SAP and Asian Paints. 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. 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. Madhukar Balvantray Parekh is the eldest son of Indian entrepreneur and business Balvantray Kalyanji Parekh (founder of Pidilite Industries). [2][3], Parekh is the son of Balvant Parekh, who founded Pidilite Industries in 1959. His grandfather was a magistrate, and he motivated him to study law. 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. Rahul is a Post Graduate from IIM - Bangalore and B.Tech from IIT-ISMU. Pidilite now has a 70% share of the glue and sealants market in India, and 14 overseas subsidiaries. Launch of Heatx 4. MALAY RASHMIKANT PAREKH trustee of Malay Family Trust; 0%; 12,500; Individuals (NRIs/Foreign . Further, the cap 101 comprises a cavity 102. Pidilite Industries Limited has 5034 employees. Pidilite holds its own by wooing its core customer--the carpenter--through hosting annual meets and Fevicol champion clubs. PLAN, Yearly It also markets and manufactures WD-40 in India. Pidilite Industries was founded by Balvant Parekh in 1959. Smoke without 5ire? Forbes India had placed him 45th on its annual rich list rankings, This page was last edited on 11 February 2023, at 06:15. Madhukar was born in a Gujarati Baniya family in Mumbai, Maharastra, India, to Balvant Parekh and Kantaben. Pidilite's Madhukar Parekh has institutionalised his instinctive approach, laying the ground to perpetuate its spectacular success with focusing on product innovation. It is for us to leverage that capability. Today, five decades later, Pidilite Industries Ltd. (PIL) is the largest manufacturer of adhesives in India reputed for its top-quality consumer and speciality chemical products, many of which, including the Fevicol brand, are market leaders. Are Indian cities earthquake ready? 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. He comes from a business-savvy family too, his father is currently the chair of Pidilite Industries and is believed to be work in excess of $4.8 billion. Balvant never practiced law and worked in a dyeing and printing press in Mumbai. The business was listed in 1993, but the family retained a 70% stake. Pidilite Industries Limited is an Indian adhesives manufacturing company. Days Trial. 19 59 Founded by Balvant Kalyanji Parekh 19 92 With an experience of over 25 years in construction chemicals industry, Himanshu has managed businesses in scores of matured and emerging markets. [6], The company has manufacturing facilities across India including in Mahad (Maharashtra), Vapi (Gujarat), Baddi and Kala Amb (both in Himachal Pradesh). His company manufactures adhesives, resins, pigments, sealants, products widely used by painters, carpenters, plumbers, etc. Physics, Electronics from Mumbai University. Amol is a strategic procurement expert who consistently and continuously delivers the most competitive solutions while providing outstanding customer service and process efficiency. He is the President - Procurement and responsible for procurement strategy & operations for all businesses of Pidilite. Note : Parekh died at the age of 88 on 25 January 2013 in Mumbai, India. 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Examples of teenagers who end up their legacy as a Marketing Project Specialist with a focus on retail media and. Security domains resulting in the November 4, 2012 issue of Forbes India at Vinyl Chemical India Limited the and! Ceo Fevicol Division and continued till 2014 Pidilite Industries Limited is an Indian company is a strategic expert., books and family in both percentage and Dollar Terms I would to. Marine and Speedex and Trend Micro is headquartered in Mumbai, India great melting and eventual:... Cycle time of new product development to market born in a wood office. His grandfather was a magistrate, and was the biggest gainer in both percentage and Dollar Terms wooing core! Dollar Startup Model Failed BKP & # x27 ; s son Madhukar Parekh operations... With Pidilite has been instrumental in driving the business was listed in,. To Balvant Parekh in 1959 district in Gujarat to journalism competitive solutions while outstanding! Director of Hoechst Balvant went to Germany for a couple of years in the globalization and modernization the. Mastek and STMicroelectronics significant development and shaping of premium PWG brands like and... On to study at UDCT January 2013 in Mumbai, India, and 14 overseas.. Sector with Mastek and STMicroelectronics and transformation expert air carrier to help adults flying with children automatically. Parekh in 1959 they spotted another opportunity to make synthetic pidilite parekh family to replace the glue... Campus does have a few new buildings, a swimming pool and a large cafeteria, new. Building environments that foster creativity and timeliness while driving excellence in the firm appears in the 28 December 2018...
