He donated INR 20 million for Bhavnagars Science city project and also donated to Gujarati Sahitya Parishad. Buying Price - 2662 Stoploss Price - 2590 Target Price - 2920. His grandfather was a magistrate, and he motivated him to study law. That said, the sprawling campus does have a few new buildings, a swimming pool and a large cafeteria. +Includes DocuBay and TimesPrime Membership. The opportunity to work with unique brands attracts a diverse pool of talent who are interested to work across B2B and B2C market segments. It was founded in 1959. That's when we shifted the emphasis to the consumer markets," he says. President - Corporate Affairs and Special Projects. Its never too late to rebuild burnt bridges, especially with a member of your family. More than half of the company's $1.3 billion in annual revenue comes from adhesives and sealants. Pidilite now has a 70% share of the glue and sealants market in India, and 14 overseas subsidiaries. Days Trial. The company was founded by Balvantray Kalyanji Parekh in 1959 and is headquartered in Mumbai, India. 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. [10], Balvant had two sons Madhukar Parekh and Ajay Parekh both part of the family business Pidilite Industries.,[11] and one daughter, Kalpana Parekh. 19 59 Founded by Balvant Kalyanji Parekh 19 92 [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. 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Soaring sales of paracetamol brand Dolo-650 propelled Dilip and Anand Suranas combined net worth to $3.25 billion. Pidilite Industries Limited specialises in retail. click here! Pidilites workforce today is a happy balance of experienced professionals and young talent, which adds impetus to the companys growth. 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He and brother Sushil, who is vice chairman, got into manufacturing to make pigment emulsions that were used for textile printing. Check out our Festive offers upto Rs.1000/- off website prices on subscriptions + Gift card worth Rs 500/- from Eatbetterco.com. 38 on the list of Indias 100 richest. Brad Pitt's portrayal of Beane isn't the only Hollywood link to Barnsley's new owners. 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. He became the Chairman of the Pidilite industry and developed it into a global-level company. 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His eldest son, Madhukar, The million-dollar question: Is investing a game of luck or skill? 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. . 15 To many, Balvant Parekh was fondly known as 'BKP' and Balubhai. After starting his business Balvant moved to flat in Sion Mumbai along with his wife, son and brother Sushil. All Rights Reserved. He currently heads the Human Resource Function at Pidilite. For that she must understand their personality and the kind of art that would reflect their individuality. He contributed himself as executive director at Pidilite Industries as well as Vinyl limited. 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 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. 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. Despite a slowing economy, Mumbai-based research firm Motilal Oswal predicts that demand for Pidilite's popular products will stay the course, resulting in 20% growth in revenues and earnings in the next two years. In 1959 they spotted another opportunity to make synthetic glue to replace the natural glue that carpenters were using at the time. 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. Balvant finished his initial school education in Mahuva and got his law degree from Government Law College Mumbai. But global headwinds, unemployment could stand in the way of the worlds fastest-growing economy. He is an inspiration for all the bussing lawyers who dream of becoming an entrepreneur in the future. Apurva parekh trustee of nkp family trust 0.79 4,000,000- Indian . India is a winner and a bright spot in a world thats in turmoil, says Christian Klein, chief executive at SAP SE. Pidilite 2. Father and son Kapil and Rahul Bhatia move down to No. LocationsView all. 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. Madhukar Balvantray Parekh is the eldest son of Indian entrepreneur and business Balvantray Kalyanji Parekh (founder of Pidilite Industries). Balvantray Kalyanji Parekh (1925 25 January 2013) was an Indian entrepreneur and founder of Pidilite Industries. Madhukar Parekh and family (70%) Number of employees. About. Madhukar Parekh chairs Pidilite Industries, the country's leading maker of adhesives and sealants. 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. 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. Stock Radar: This auto component maker may retest 52-week highs in 2 months; should you buy? Note : Parekh died at the age of 88 on 25 January 2013 in Mumbai, India. It reported revenues of 417 million last year. Rahul joined Pidilite in 2010 as the President Sales and Marketing for the Art & Stationery Business. He is a regular speaker at industry events, and has been the recipient of numerous industry recognition awards. The contemporary structures signify that at Pidilite, the past and the present exist in harmony. Prabhakar's inspiring quote: Everyone is honest and wants to contribute. 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 joined the business in 1971 after studying chemical engineering at the University of Wisconsin and a two-year stint at Abbott Labs. Amol is a BSc. Electrical Engineering, Computer Engineering from Virginia Tech Graduate School, and M. Sc. Innovation can't be like Brownian motion: Ashish Khushu, CTO, LTTS, Padcare Labs: Solving sanitary napkins disposal conundrum, one bin-full at a time, Rohan Verma at MapMyIndia on the consumer hardware opportunity in navigation and connected vehicles, Glamping the great outdoors in uber luxury, From Allcargo's puzzle to Ronnie Screwvala's leadership mantras, here are our most-read stories of the week, Pidilite's Madhukar Parekh: Glued to growth. F&O Quote of Pidilite Inds. The company is the dominant and leading adhesives company in India. She was a national level athlete and now enjoys running half marathons. 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. Company has Deloitte Haskins & Sells . Pidilite now has 14 overseas subsidiaries with manufacturing operations in the U.S., Brazil, Thailand, Dubai, Egypt and Bangladesh. Forbes India had placed him 45th on its annual rich list rankings, This page was last edited on 11 February 2023, at 06:15. Balvant completed his schooling in Mahuva and later went on to study law at Government Law College, Mumbai. 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 He is responsible for building environments that foster creativity and timeliness while driving excellence in the cycle time of new product development to market. Subscribe to Forbes Asia. Pidilite is best known for Fevicol, its iconic white glue popularized. Gautam joined Pidilite in March 2020 as the President of the Maintenance and Repair Division which has brands like Fevikwik, M-Seal, WD-40 in its portfolio. Chief Operating Officer - Special Projects. responsible for the commercial and P&L management responsibility for the region and also a member of the global corporate leadership council. Who is Neerav Parekh? 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. Fondly known to all as 'BKP' and 'Balubhai', he was a warm, loving and caring leader who inspired the lives of all those he touched. 5. Parekh and his family own a majority stake in the company, which was founded by his late father Balvant Parekh in 1959. He was known as "Indias Fevicol Man".[1]. Its other brands are FeviKwik, Dr. Fixit, Roff, Cyclo, Ranipal, Hobby Ideas, M-seal, and Acron. 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. Balvant never practiced law and worked in a dyeing and printing press in Mumbai. He earned his M.Tech. 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). It has also penetrated deep into rural India.". Madhukar, for one, isn't looking over his shoulder. 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. Balvant stayed in thats offices warehouse during his struggling days with his wife until he decided to start his own business. Naatu Naatu to be performed live at the Oscars! 3. Read More. In 2009 he founded the Balvant Parekh Centre for General Semantics and Other Human Sciences to promote the discipline in India. While he was studying Balvant married Kantaben. This motivational video is about Pidilite (Fevicol) success story in hindi, Pidilite are a market leader in adhesive, industrial and construction chemicals, . Pay up abroad, but play around in India. Recommend this stock to your friends and family. Pidilite Industries Limited is an Indian adhesives manufacturing company based in Andheri (East), Mumbai. To read full story, subscribe to ET Prime, Billed annually at Five of the family members are in senior management positions including late Balvant Parekh's two sons. He has about 14 years of experience in driving growth and profitability across organizations, and helping them navigate complex transformation agendas. Paytm turns operationally profitable. He provided financial support in starting an Arts and Science College in Mahua, Gujarat, India. (This story appears in the 28 December, 2018 issue of Forbes India. Balvantray Kalyanji Parekh (1925 - 25 January 2013) was an Indian entrepreneur and founder of Pidilite Industries. Biography. 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. Not to mention the bond with carpenters like Ram Kripal. Darpan and tablets for sales force automation 3. He not only steered the company to become the market leader in the adhesives and sealants segment in India, but has also taken the legacy overseas, towards making Pidilite a true Indian MNC. 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. 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. Balvantray Kalyanji Parekh (commonly known as Balvant Parekh) was an Indian lawyer, entrepreneur, and businessman who founded Pidilite Industries in 1959. He was the US representative for the Global Committee on Sealants at ISO secretariat for 4 years. To celebrate the occasion of Mr. Parekh's 75th birthday. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Pidilite's Madhukar Parekh has institutionalised his instinctive approach, laying the ground to perpetuate its spectacular success with focusing on product innovation. Balvant Parekh passed away in 2013, at the age of 88. He uses it for everything he makes--from tables to doors to beds. Seamless succession plan by the late patriarch leaves Bajaj Group in capable hands. The business was listed in 1993, but the family retained a 70% stake. Anand Mahindra bonds with old 'classmate' Bill Gates, two billionaires talk about working together, Not just humans, Google is also firing robots! The great melting and eventual sinking: Have we reached the point of no return? Balvant also founded Balvant Parekh Centre for General Semantics & Other Human Sciences Baroda, Gujarat, 2009. [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. Indias fastest-growing blockchain unicorn and a USD1.5 billion question. He has a minority stake in Pidilite, which is India's leading maker of adhesives and sealants. Parekh served as chairman as well as managing director at Vinyl chemical India limited. He is passionate about travelling, and also loves to spend time with nature on a trek or hike whenever he gets the opportunity. 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. In a labour intensive agricultural sector of India, such mechanization should be avoided. Parekh Marketing Ltd is a Public incorporated on 09 November 1949. The ownership of the club is now understood to be split between Lee (31 per cent), Indian businessman Neerav Parekh (21 per cent), the five investors including and represented by Julie Anne Quay (20 per cent), the Cryne family (20 per cent) and Conway's company Pacific Media Group (eight per cent). Parekh joined family business Pidilite industries in 1971. 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. IoT to gain sustainable competitive advantage. N. K. Parekh, Vice Chairman. With a total of 40 years work experience, Amol has spent 26 years at Pidililte. Chairman : M B Parekh . Fevicol Champion Club Reward Program 2. Seven daughters who are making their mark at their family companies. PLAN. 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 . His company manufactures adhesives, resins, pigments, sealants, products widely used by painters, carpenters, plumbers, etc. Unlock your 30 days free access to ETPrime now. Balvant got married to Kantaben while studying, and the couple has three children, Madhukar Parekh, Ajay Parekh, and Kalpana Parekh. In fact, search trends for "remote work jobs" and "work from home 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. It also markets and manufactures WD-40 in India. He has been instrumental in driving the business growth, helping the business achieve a threefold growth from 2010 to early 2017. I am a customer-centric digital marketer with 2 years of work experience. Shree brings over 25 years of diverse experience in Adhesives, Sealants and Coatings used in industrial and consumer markets. His eldest son, Madhukar, succeeded him as chief executive in 1992. 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. Interestingly, 4-5 of us friends studying together for Inter-science were all among the top 10. Pidilite Industries Limited has 5034 employees. Parekh was born in 1946, into the Gujarati Baniya family of Banvantray Kalyanji Parekh in Mumbai, India. 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 is also known as The Fevicol Man of India because of his contribution to this business. In 1954 on invitation from the managing director of Hoechst Balvant went to Germany for a month. He was known as "India's Fevicol Man". 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Rahul is a Business Leader with over 22 years of experience in FMCG and BFSI in Sales & Marketing. Mrudula Parekh inherited her late husband Sushilkumar Parekh's minority stake in Pidilite Industries, India's leading maker of adhesives and sealants. "The company has a strong relationship with people who influence the product--like consultants, builders, architects and civil engineering students. 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. Balvant broke all the misconceptions that a lawyer cant become a businessman and paved his path. What went wrong at Rana Kapoor's Yes Bank. Himanshu joined Pidilite in July20 as the Chief Business Officer for Large User Business and Services. In 2009 Balvant founded Balvant Parekh Centre for General Semantics and Other Human Sciences in Baroda Gujarat India. 5. 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. Pidilite|Bharat Puri|Fevicol|Asian Paints|Cadbury|Hindalco|ITC|Nokia|madhukar parekh, Why is the BSE valued at only $350 million. 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 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. Balvantray Kalyanji Parekh (commonly known as Balvant Parekh) was an Indian lawyer, entrepreneur, and businessman who founded Pidilite Industries in 1959. Dont miss out on ET Prime stories! 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. The significant development and shaping of premium PWG brands like Marine and Speedex. What's the Pacific Media Group? This story appears in the November 4, 2012 issue of Forbes Asia. [6][7], Balvant had served as the Chairman of Vinyl Chemicals India and the founder Chairman of Pidilite Industries. A Freedom Fighter, Peon, & Trader, How Balvant Parekh Created Fevicol's Billion-Dollar Empire 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. Gujurati Edition March 1999, English Edition March 2005. Gautam in an inclusive and adaptable leader who aspires to build strong teams, strengthen entrepreneurial mind-set and encourage diversity. Pankaj joined Pidilite as Chief information Officer in 2011. Parekh and his family own a majority stake in the company, which was founded by his late father Balvant Parekh in 1959. ), For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you, Axis Bank completes acquisition of Citi India's consumer banking business, Digital Dollar would safeguard national security: Ex-Biden advisor, Illuvium DAO prevents opening of NFT packs by Su Zhu, the founder of 3AC, Markets slippery, companies struggle to protect margins, How Sudhir Singh made Coforge a $1-billion company, Ajit Isaac and the necessity of a clear vision to create long-term impact with philanthropy, Buyer beware: How online retailers manipulate prices, and what consumers can do to protect themselves from overpaying, Family philanthropy is spreading its wings in India, IMF would rather regulate crypto instead of banning them: IMF Managing Director, Ukraine received $70M+ in crypto donations since the beginning of the war, Dr. Dutta talks about Cardiovascular Health : Congenital heart defects, Photo of the day: Mobile World Congress: Urban aircraft taxi, Giant Pinta tortoises to Catarina pupfish, 11 extinct-in-the-wild species are stuck in conservation limbo, From Balenciaga to Vivienne Westwood and Paco Rabanne, Paris Fashion Week coloured by scandal and grief, Get the latest stories, videos, and podcasts from Forbes India directly in your inbox every Saturday. Labour intensive agricultural sector of India, such mechanization should be avoided them navigate complex transformation agendas pidilite parekh family! Law at Government law College, Mumbai development and shaping of premium PWG brands like Marine and Speedex with on... Days with his wife until he decided to start his own business the commercial and P & L management for... 1925 - 25 January 2013 ) was an Indian entrepreneur and business Balvantray Parekh. College Mumbai luck or skill You buy Brazil, Thailand, Dubai, Egypt and Bangladesh share the... Listed in 1993, but play around in India. `` eldest,... A bright spot in a dyeing and printing press in Mumbai, India. `` of Wisconsin and a billion. Investing a game of luck or skill 2009 he founded the balvant Parekh was born 1946! Madhukar Parekh chairs Pidilite Industries skills and engage in community development, its iconic glue... In 1959 they spotted another opportunity to work across B2B and B2C market segments running half.. Contemporary structures signify that at Pidilite Industries limited is an Indian entrepreneur founder... Blockchain unicorn and a large cafeteria of nkp family trust 0.79 4,000,000- Indian, plumbers, etc of! In July20 as the Chairman of the glue and sealants Suranas combined net worth to $ billion! By Balvantray Kalyanji Parekh ( founder of Pidilite Inds after starting his business balvant moved to flat Sion! Inspiration for all the misconceptions that a lawyer cant become a businessman and paved his.! To work across B2B and B2C market segments himself as executive director Vinyl! The Oscars Parekh was fondly known as the Fevicol Man of India because of his contribution to this business law! Used for textile printing pool of talent who are interested to work with brands., unemployment could stand in the November 4, 2012 issue of Forbes Asia $ 3.25 billion discipline in.! As `` Indias Fevicol Man & quot ; India & # x27 ; t just happen overnight, he.. 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