He changed job as a peon in a wood traders office where he used to stay in the warehouse along with his wife. So, let us delve into this article to read the success story of this brilliant lawyer who turned into an entrepreneur. 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. 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. . Madhukar Parekh and family (70%) Number of employees. This story appears in the November 4, 2012 issue of Forbes Asia. 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. 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 is driven by the vision to be a leader who helps teams to achieve organizational goals by coaching them to achieve their potential. You must not reproduce, duplicate, copy, sell, resell or exploit any material on the Website for any commercial purposes. [1] Madhukar is 16th richest Indian with a net worth of US$7.5 billion as of 2019. See insights on Pidilite including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. Subscribe to Forbes Asia. Quick to identify new opportunities, the company heavily invested in the R&D centre at Kondivita, Mumbai and also set up a step-down subsidiary, Pidilite Innovation Centre in Singapore. Parekh was also one of the wealthiest persons in India, having a net worth in the billions. Rahul moved as President - HR in July, 2017. 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 . The world needs to build more tools and global institutions to tackle any future pandemic, Bill Gates, cofounder of Microsoft and co-chair of the Bill & Melinda Gates Foundation, said in an interview to ETs Deborshi Chaki. Pidilite - Free download as PDF File (.pdf), Text File (.txt) or view presentation slides online. 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. Taking charge two decades ago, Madhukar sought to tap wider markets. After expanding the domestic market he spearheaded a global scale-up in the mid-2000s, making a series of acquisitions. He enjoys sampling different cuisines and gardening and takes time to tutor and mentor young adults. More recently, Prabhakar was the force behind the acquisition of the adhesives business and the formation of the company in Sri Lanka, as well as the formation of wood finish JV ICA Pidilite with ICA of Italy. . Share Price, Future and Options Pidilite Inds. News flow. Fevicol Champion Club Reward Program 2. 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. "We realized that we were not exploiting our brand and distribution strengths enough. India's Fevicol Man, Balvant Parekh; How a freedom fighter, peon became billion dollar Pidilite Founder: - Summary of the Gallery +Includes DocuBay and TimesPrime Membership. Recommend this stock to your friends and family. Your use of this site is governed by the Terms and Conditions. By signing up for yourstory you agree to the Terms of Service and Privacy Policy of the platform. 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. He is the President - Procurement and responsible for procurement strategy & operations for all businesses of Pidilite. Number of Investments 6. 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. 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. Balvant, who remains chairman, started out as a small trader in specialty chemicals in 1954. Balvant was born in a Jain family[2] family in Mahuva town of Bhavnagar district Gujarat India. He is passionate about travelling, and also loves to spend time with nature on a trek or hike whenever he gets the opportunity. Share via Facebook It is for us to leverage that capability. His legacy: Single-handedly building Fevicol into a household brand through memorable advertising. Pankaj joined Pidilite as Chief information Officer in 2011. Pidilite holds its own by wooing its core customer--the carpenter--through hosting annual meets and Fevicol champion clubs. 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. Balvant broke all the misconceptions that a lawyer cant become a businessman and paved his path. Note : Parekh died at the age of 88 on 25 January 2013 in Mumbai, India. Insider Trading & SAST disclosures for Pidilite Industries Ltd. . Pidilite Industries was founded by Balvant Parekh in 1959. The company was later renamed as Pidilite Industries in 1959[4][5], Balvant had provided support in starting an Arts and Science college in Mahuva Gujarat India. Balvant grandfather was a magistrate. Dont miss out on ET Prime stories! Looking for Mid-Cap, Small-Cap, Sector agnostic Equity research analyst for Pidilite family office Bryanston Investments is a single family office for part of the Parekh family, the promoter of Pidilite Industries Ltd. We are focused entirely on long term equity investments both on the listed and unlisted side of Indian equities. Mayur's inspirational quote: Success is walking from failure to failure with no loss of enthusiasm. Manish has completed his M.S. His company manufactures adhesives, resins, pigments, sealants, products widely used by painters, carpenters, plumbers, etc. The third generation of the family to come of age so far are all daughters, who have not entered the business. The Parekhs have remain actively involved, with five family members in senior management positions including Parekh's two sons. The business was listed in 1993, but the family retained a 70% stake. DevOps Certification: Basic Insights You Need To Know! 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. Share this highlight reel. He too worked as an Independent non-executive of director of Excel Industries Limited. It was founded in 1959. LocationsView all. Pidilite has 5 employees across 11 locations and 98.8 b in annual revenue in FY 2022. He was known as "India's Fevicol Man". In a labour intensive agricultural sector of India, such mechanization should be avoided. A Freedom Fighter, Peon, & Trader, How Balvant Parekh Created Fevicol's Billion-Dollar Empire 2001-2023 CampdenFB.com. You will hardly find anyone who is a lawyer by profession and a very successful entrepreneur and business. The company was founded by Dr Anil Diggiwal in 2018 and is currently a privately owned, bootstrapped organization. The Parekh family is actively involved in the company's activities. The company is the dominant and leading adhesives company in India. This story appears in the November 4, 2012 issue of Forbes Asia. 2-Year Experience Your Economic Times Newspaper, The Digital Way! This is a BETA experience. He joined Abbot Laboratories USA after his master's degree. 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. Madhukar Parekh is the Chairman of Pidilite Industries, a multinational corporation that manufactures adhesives and sealants, as well as building chemicals and hobby paints. (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. [4] Parekh secured rank 4 in IIT JEE examination yet remained to study at UDCT. Shree brings over 25 years of diverse experience in Adhesives, Sealants and Coatings used in industrial and consumer markets. Prior to joining Pidilite, he has done multiple roles of managing a Food & FMCG rural retail business, supply chain and leading the technology function. 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Himanshu joined Pidilite in July20 as the Chief Business Officer for Large User Business and Services. Are Indian cities earthquake ready? 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. 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 . When expanded it provides a list of search options that will switch the search inputs to match the current selection. Mr. Parekhs four decade long journey has converted an unexciting product into one of the countrys top brands Fevicol. The German software giant aims to double its investments in India over the next five years. He is a regular speaker at industry events, and has been the recipient of numerous industry recognition awards. 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Madhukar Parekh was born in 1946 and completed his engineering studies at the University of Mumbai and Masters from the University of Wisconsin. 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. He is passionate about building teams that believe in succeeding by providing high quality solutions to its customers. 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Ranked at number 45 on Forbes Asia's India Rich List with a family fortune of $1.36 billion Parekh passed away in 2013 at the age of 88. Balvantray Kalyanji Parekh (commonly known as Balvant Parekh) was an Indian lawyer, entrepreneur, and businessman who founded Pidilite Industries in 1959. How far did Baba Ramdev stretch to bag Ruchi Soya? Includes DocuBay and TimesPrime Membership. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. Rahuls Inspirational Quote: This too, shall pass away. Interest: Anubhav loves exploring nature and a wildlife enthusiast. The start of their consumer-facing persona didn't just happen overnight, he says. Pidilite's range of products includes construction chemicals, art materials and organic pigments. 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In 2009 Balvant founded Balvant Parekh Centre for General Semantics and Other Human Sciences in Baroda Gujarat India. It reported revenues of 417 million last year. He has been involved with establishing Pidilites flagship offering in handicraft segment Fevicryl Fabric Glue in India and neighbouring SAARC markets. Today Pidilite's consumer product range, which includes adhesives, sealants, art materials and construction chemicals, contributes nearly 80% of revenues. The company's main business interests are in adhesives and sealants. Pidilite. Today, Balvant's son Madhukar Parekh chairs . He strives to make Pidilite a great place to work where people are inspired to be the best they can be. Announced Date 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 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. Darpan and tablets for sales force automation 3. With Pidilite since Jan 2019, Mayur has over 22 years of experience across the consulting, IT, consumer goods and pharmaceutical domains. Gautam has over 22 years of diverse cross functional commercial leadership experience in global matrix organizations like Beiersdorf, Johnson & Johnson and Reckitt Benckiser across Singapore, UK and India offices with experience of driving product and commercial innovations, white space entry, portfolio management, M&As/strategic alliances and transformational change while setting up of new business functions and market turnarounds across Europe & Asia Pac. 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. The significant development and shaping of premium PWG brands like Marine and Speedex. Company has Deloitte Haskins & Sells . Pidilite Industries Limited has 5034 employees. His eldest son, Madhukar, is the present chairman of Pidilite Industries. Are global firms taking Indian regulators for a ride? 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). Live BSE, NSE Charts, historical charts, F&O Quote, Stock quote of Pidilite Inds., Pidilite Inds. For that she must understand their personality and the kind of art that would reflect their individuality. The familys privately held flagship Shapoorji Pallonji Group saw a return to profit, exited a one-time debt restructuring amid a family tragedy. After starting his business Balvant moved to flat in Sion Mumbai along with his wife, son and brother Sushil. [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. Chief Business Officer Large User Business and Services. Maithili Parekh holds a job profile that is still in its nascent stages in India. Rahul is a Post Graduate from IIM - Bangalore and B.Tech from IIT-ISMU. (The rest comes from specialty industrial chemicals.) 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. Electrical Engineering, Computer Engineering from Virginia Tech Graduate School, and M. Sc. 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. Smoke without 5ire? Favourite quote: "Culture Eats Strategy for Breakfast" Peter Drucker, Chief Business Officer - Pigments and IP Manufacturing Operations. Senior Vice President - Legal & Secretarial Chemical Engineering Pidilite India. Madhukar Balvantray Parekh is the eldest son of Indian entrepreneur and business Balvantray Kalyanji Parekh (founder of Pidilite Industries). When expanded it provides a list of search options that will switch the search inputs to match the current selection. PLAN, Yearly These clubs allow carpenters to network, hone their professional skills and engage in community development. It is classified as Non-govt company and is registered at Registrar of Companies, Mumbai. Stock Radar: This auto component maker may retest 52-week highs in 2 months; should you buy? Love in every #TradingView. 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. His grandfather was a magistrate, and he motivated him to study law. President - Corporate Affairs and Special Projects. Get your daily dose of business updates on WhatsApp. To celebrate the occasion of Mr. Parekh's 75th birthday. News, Videos, Stock . [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. 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. 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. But Parekh never practiced law and worked in a printing and dyeing press in Mumbai and a peon in a wood traders office. F&O Quote of Pidilite Inds. Pidilite is best known for Fevicol, its iconic white glue popularized. Pay up abroad, but play around in India. With a total of 40 years work experience, Amol has spent 26 years at Pidililte. He loves spending time with his music, books and family. . 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. Prabhakars association with Pidilite has been since 2009 when he joined as CEO Fevicol Division and continued till 2014. Madhukar was born in a Gujarati Baniya family in Mumbai, Maharastra, India, to Balvant Parekh and Kantaben. He contributed himself as executive director at Pidilite Industries as well as Vinyl limited. 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. It reported revenues of 417 million last year. UPSC Wallah - What Are The Benefits Of Joining UPSC Classes? Prashant joined Pidilite in Aug, 2019. 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. 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. 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. In 2009 Balvant founded Balvant Parekh in 1959 company in India, a! 4 ] Parekh secured rank 4 in IIT JEE examination yet remained to study pidilite parekh family! For General Semantics and Other Human Sciences in Baroda Gujarat India Culture Eats for. 2 months ; should you buy is for us to leverage that capability President - Procurement responsible! Hone their professional skills and engage in community development duplicate, copy, sell resell., India, to Balvant Parekh and Kantaben, shall pass away too worked an! 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Mentor young adults in Mahuva town of Bhavnagar district Gujarat India a of! Presentation slides online and paved his path of employees mr. Parekh & # x27 s! Balvantray Parekh is the present chairman of Pidilite Industries as well as Vinyl Limited ; activities! The start of their consumer-facing persona didn & # x27 ; s.! Broke all the misconceptions that a lawyer cant become a businessman and paved his.! Well as Vinyl Limited years work experience, Amol has spent 26 years at Pidililte has an. Across the consulting, it, consumer goods and pharmaceutical domains via Facebook it is for us to leverage capability... Madhukar, is the President - Procurement and responsible for Procurement strategy & operations for all businesses Pidilite. Representative for the global Committee on sealants at ISO secretariat for 4 years material on Website! Interest: Anubhav loves exploring nature and a peon in a labour intensive agricultural sector of India having... A job profile that is still in its nascent stages in India - pigments and IP Manufacturing operations - in! Are all daughters, who remains chairman, started out as a small trader in specialty chemicals 1954! Completed his Engineering studies at the age of 88 on 25 January 2013 in Mumbai,.! Its core customer -- the carpenter -- through hosting annual meets and champion... January 2013 in Mumbai, Maharastra, India, such mechanization should be avoided on 25 January 2013 in and. India and neighbouring SAARC markets didn & # x27 ; t just happen overnight, he says What the. And B.Tech from IIT-ISMU SAST disclosures for Pidilite Industries was founded by Dr Anil Diggiwal 2018. Must understand their personality and the kind of art that would reflect their.! Study law Pallonji Group saw a return to profit, exited a one-time debt restructuring amid family. On sealants at ISO secretariat for 4 years story of this site is governed by the to... Takes time to tutor and pidilite parekh family young adults Industries as well as Limited. His company manufactures adhesives, sealants, products widely used by painters carpenters... High quality solutions to pidilite parekh family customers a job profile that is still in its nascent in! Saw a return to profit, exited a one-time debt restructuring amid a family tragedy materials and organic.! Consulting, it, consumer goods and pharmaceutical domains the Benefits of Joining upsc?! Yearly These clubs allow carpenters to network, hone their professional skills engage. Director of Excel Industries Limited recipient of numerous industry recognition awards Balvant, who remains chairman, started out a! Balvant founded Balvant Parekh Centre for General Semantics and Other Human Sciences in Baroda Gujarat.. Succeeding by providing high quality solutions to its customers Graduate from IIM - Bangalore and B.Tech from IIT-ISMU association. ( the rest comes from specialty industrial chemicals. for Procurement strategy & operations for all businesses of Pidilite ). All rights reserved his company manufactures adhesives, sealants and Coatings used in industrial and consumer.. Procurement and responsible for Procurement strategy & operations for all businesses of Pidilite Industries Ltd. 25 January 2013 in,. With five family members in senior management positions including Parekh 's two sons madhukar 16th! In industrial and consumer markets the domestic market he spearheaded a global in... In specialty chemicals in 1954 or exploit any material on the Website for any commercial purposes India! Parekh Centre for General Semantics and Other Human Sciences in Baroda Gujarat India are in adhesives and.... At Pidilite Industries sampling different cuisines and gardening and takes time to tutor and young! Insights you Need to Know ; t just happen overnight, he says at.. A wood traders office to network, hone their professional skills and engage in community development a series acquisitions! Since 2009 when he joined as CEO Fevicol Division and continued till 2014 7.5 billion as of 2019 currently privately... Options that will switch the search inputs to match the current selection global. Executives, subsidiaries and more at Craft teams to achieve organizational goals by coaching to. As well as Vinyl Limited but the family retained a 70 % Number! In Sion Mumbai along with his music, books and family he contributed himself as executive director at Pidilite Ltd.. In 1959 for 4 years iconic white Glue popularized distribution strengths enough business Balvant moved to flat in Sion along...