Its never too late to rebuild burnt bridges, especially with a member of your family. It reported revenues of 417 million last year. You will hardly find anyone who is a lawyer by profession and a very successful entrepreneur and business. He loves spending time with his music, books and family. 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. Balvant finished his initial school education in Mahuva and got his law degree from Government Law College Mumbai. The opportunity to work with unique brands attracts a diverse pool of talent who are interested to work across B2B and B2C market segments. Remote work is not going away, despite recent headlines suggesting a return to the office. 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. [10], Balvant had two sons Madhukar Parekh and Ajay Parekh both part of the family business Pidilite Industries.,[11] and one daughter, Kalpana Parekh. He was known as "India's Fevicol Man". Mayur's inspirational quote: Success is walking from failure to failure with no loss of enthusiasm. Pidilite Industries Limited is an Indian adhesives manufacturing company based in Andheri (East), Mumbai. 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. 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. Balvant grandfather was a magistrate. Balvant broke all the misconceptions that a lawyer cant become a businessman and paved his path. Before completing his MBA, Prashant also worked for a couple of years in the technology sector with Mastek and STMicroelectronics. Thus was born Fevicol. Digital Yug is an Indian digital media platform that posts real life stories, events, news, and blogs about startups, entrepreneurs, and successful people. 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. . Physics, Electronics from Mumbai University. The Parekh family is actively involved in the company's activities. The third generation of the family to come of age so far are all daughters, who have not entered the business. Today, Balvant's son Madhukar Parekh chairs . His company manufactures adhesives, resins, pigments, sealants, products widely used by painters, carpenters, plumbers, etc. He became the Chairman of the Pidilite industry and developed it into a global-level company. 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. 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. Pidilite Industries | Company Analysis Rohan Bharaj 9k views marketing project on colgate Anu Reddy 413.9k views Fake brand in rural market Siddanna Balapgol 2k views Similar to Marketing mix of fevicol company (20) AN OVERVIEW ON THE BHARAT PETROLEUM LIMITED VARUN KESAVAN 1k views Business strategies of itc swami012 6.7k views Number of Investments 6. Love in every #TradingView. 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. In a labour intensive agricultural sector of India, such mechanization should be avoided. Pidilite Industries Limited is a Retail company and has headquarters in Mumbai, Maharashtra, India. Under his guidance the company has won many prestigious awards like the Most Promising Company of the Year at the CNBC-TV18, 11th India Business Leader Awards (IBLA). Personal Investments. 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Prior to joining Pidilite, Himashu worked with Normet International, Switzerland as the global head of Ground Control and Construction Chemicals division. Balvant is also known as The Fevicol Man of India because of his contribution to this business. 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. Pidilite has 5 employees across 11 locations and 98.8 b in annual revenue in FY 2022. Subscribe to Forbes Asia. Fixit and M-seal are market leaders with high shares in their respective segments. Edit Personal Investments Section. +Includes DocuBay and TimesPrime Membership. The business was listed in 1993, but the family retained a 70% stake. Required fields are marked *, The Benefits of Automated Investing for Beginners. Choose your reason below and click on the Report button. Share via Facebook Date of Death - 25 January 2013 (aged 87-88 years), Place of Death Mumbai, Maharashtra, India, Profession - Lawyer, Entrepreneur, Businessman, Alma Mater - Government Law College, Mumbai, Designation - Founder of Pidilite Industries, Children Madukar Parekh, Ajay Parekh, Kalpana Parekh, 45th Rank in Indias Top 50 Rich People By Forbes India Magazine, 2012. Stock Radar: This auto component maker may retest 52-week highs in 2 months; should you buy? You can help Wikipedia by expanding it. 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. Balvant was born in a Jain family[2] family in Mahuva town of Bhavnagar district Gujarat India. 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. Interest: Anubhav loves exploring nature and a wildlife enthusiast. Madhukar Balvantray Parekh is the eldest son of Indian entrepreneur and business Balvantray Kalyanji Parekh (founder of Pidilite Industries). Parekh and his family own a majority stake in the company, which was founded by his late father Balvant Parekh in 1959. The company is the dominant and leading adhesives company in India. Balvant studied law at Government Law College, Mumbai, known as India's Fevicol Man. The Parekhs have remain actively involved, with five family members in senior management positions including Parekh's two sons. Click here to know more. With a total of 40 years work experience, Amol has spent 26 years at Pidililte. 2023 Forbes Media LLC. He is responsible for driving key strategic initiatives across the organization. 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 Parekh passed away in 2013, at the age of 88. Recommend this stock to your friends and family. Madhukar Parekh is chairman of Pidilite Industries, a company founded by his late father, Balvant Parekh, in 1959. Parekh Marketing Ltd is a Public incorporated on 09 November 1949. 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. Pidilite's Madhukar Parekh has institutionalised his instinctive approach, laying the ground to perpetuate its spectacular success with focusing on product innovation. Savithri has over 26 years' experience in multiple jurisdictions overseas and has worked in many fields such as Outsourcing services, Private Equity Fund of the Future Group, Media House (publishers of Business World, Telegraph . He earned his M.Tech. Pidilite was then a small maker of synthetic glue with revenue of $1.3 million. Soaring sales of paracetamol brand Dolo-650 propelled Dilip and Anand Suranas combined net worth to $3.25 billion. 2001-2023 CampdenFB.com. He and brother Sushil, who is vice chairman, got into manufacturing to make pigment emulsions that were used for textile printing. India's Fevicol Man, Balvant Parekh; How a freedom fighter, peon became billion dollar Pidilite Founder: - Summary of the Gallery His eldest son, Madhukar, is the present chairman of Pidilite Industries. Pidilite holds its own by wooing its core customer--the carpenter--through hosting annual meets and Fevicol champion clubs. Pidilite 2. 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. 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. More news. He also has the financial support for the Gujarati Sahitya Parishad. In a country as big as India there are plenty of opportunities; it's all about spotting them. Rahul is a Business Leader with over 22 years of experience in FMCG and BFSI in Sales & Marketing. He strives to provide value-added services that support business success. 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. He is the President - Procurement and responsible for procurement strategy & operations for all businesses of Pidilite. 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. In 1954 on invitation from the managing director of Hoechst Balvant went to Germany for a month. He has about 14 years of experience in driving growth and profitability across organizations, and helping them navigate complex transformation agendas. 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. Its products can be segmented into branded consumer and bazaar products and specialty industrial chemicals. 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. Madhukar Parekh is the Chairman of Pidilite Industries, a multinational corporation that manufactures adhesives and sealants, as well as building chemicals and hobby paints. Naatu Naatu to be performed live at the Oscars! MY FATHER: Friend and Confidant Kalpana Parekh As family, friends and well-wishers join together to felicitate the patriarch of the Parekh family, I would like to share with you a few thoughts about this wonderful and multifaceted . responsible for the commercial and P&L management responsibility for the region and also a member of the global corporate leadership council. Parekh and his family own a majority stake in the company, which was founded by his late father Balvant Parekh in 1959. The familys privately held flagship Shapoorji Pallonji Group saw a return to profit, exited a one-time debt restructuring amid a family tragedy. Announced Date 19 59 Founded by Balvant Kalyanji Parekh 19 92 Prashant joined Pidilite in Aug, 2019. 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. What went wrong at Rana Kapoor's Yes Bank. 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. . 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. Are Indian cities earthquake ready? Apart from business management he has also managed strategy, M&A and R&D functions. He has a minority stake in Pidilite, which is India's leading maker of adhesives and sealants. [3] The company is the dominant and leading adhesives company in India. CampdenFB.com is a wholly owned subsidiary of Campden Wealth Manish has completed his M.S. PLAN, Yearly Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. His passions include reading and music. 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. Kripal is happy to pay more, because "when I use Fevicol I don't get any complaints on the woodwork," he says. It is classified as Non-govt company and is registered at Registrar of Companies, Mumbai. All rights reserved. Indias fastest-growing blockchain unicorn and a USD1.5 billion question. Seamless succession plan by the late patriarch leaves Bajaj Group in capable hands. Opinions expressed by Forbes Contributors are their own. With Pidilite since Jan 2019, Mayur has over 22 years of experience across the consulting, IT, consumer goods and pharmaceutical domains. He has also served on the Regional Advisory Boards of leading technology organizations such as Microsoft and Trend Micro. Do you have. It was founded in 1959. Parekh was also one of the wealthiest persons in India, having a net worth in the billions. 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. 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. Navigate complex transformation agendas 's inspirational quote pidilite parekh family Success is walking from failure to failure with loss. 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