Dont miss out on ET Prime stories! Pidilite Industries was founded by Balvant Parekh in 1959. Indian Chemical Councilconferred him withICC Lifetime Achievement Awardfor the year 2017. 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. This Jaipur based company publishes & focuses on undiscovered, small startup stories. He also has the financial support for the Gujarati Sahitya Parishad. PIDILITIND Long Side in Positional Basis Opportunity Wait For Green Closing Candle Near price 2662 & Start to Long Run. Parekh served as chairman as well as managing director at Vinyl chemical India limited. 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. Can their love last? [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. Under his guidance, Pidilite has acquired several companies to enter international markets and enhance its product portfolio and market presence. [2][3], Parekh is the son of Balvant Parekh, who founded Pidilite Industries in 1959. With an experience of over 25 years in construction chemicals industry, Himanshu has managed businesses in scores of matured and emerging markets. 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 Parekh passed away in 2013, at the age of 88. [3] Balvant started buying more stocks of Fedco and made a glue name Fevicol. Further, the cap 101 comprises a cavity 102. He has also served on the Regional Advisory Boards of leading technology organizations such as Microsoft and Trend Micro. Prior to joining Pidilite, Himashu worked with Normet International, Switzerland as the global head of Ground Control and Construction Chemicals division. 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. . Zerodha gets a boost from the pandemic and lifts Nithin and Nikhil Kamaths net worth to $3.45 billion. Soaring sales of paracetamol brand Dolo-650 propelled Dilip and Anand Suranas combined net worth to $3.25 billion. His company manufactures adhesives, resins, pigments, sealants, products widely used by painters, carpenters, plumbers, etc. The independent art consultant helps people build, archive and document their collection. 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. Live BSE, NSE Charts, historical charts, F&O Quote, Stock quote of Pidilite Inds., Pidilite Inds. Click here to know more. 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. Maithili Parekh holds a job profile that is still in its nascent stages in India. This button displays the currently selected search type. . Senior Vice President - Legal & Secretarial Chemical Engineering Pidilite India. The Indian economy grew at a slower-than-expected 4.4% in the December quarter compared with 6.3% in the preceding three-month period, weighed down by base normalisation and weakness in consumption. Pidilite's Executive Chairman is M. B. Parekh. Mr. Parekhs four decade long journey has converted an unexciting product into one of the countrys top brands Fevicol. 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.". 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 . 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. 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. Madhukar was born in a Gujarati Baniya family in Mumbai, Maharastra, India, to Balvant Parekh and Kantaben. Gautam in an inclusive and adaptable leader who aspires to build strong teams, strengthen entrepreneurial mind-set and encourage diversity. Note : Parekh died at the age of 88 on 25 January 2013 in Mumbai, India. Shree has completed his M.S. 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. 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. Parekh and his family own a majority stake in the company, which was founded by his late father Balvant Parekh in 1959. 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. Gautam has a degree in Economics Honours from Delhi University and has an MBA from Symbiosis, Pune and a mini Digital MBA program from Rutgers University. 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. Pidilite - Professional Family to a Family of Professionals | Outlook Business Prior to that, he was Chairman and Managing Director at Goodyear India. Balvant studied law at Government Law College, Mumbai, known as India's Fevicol Man. Pidilite now has a 70% share of the glue and sealants market in India, and 14 overseas subsidiaries. Madhukar Parekh is chairman of Pidilite Industries, a company founded by his late father, Balvant Parekh, in 1959. He has about 14 years of experience in driving growth and profitability across organizations, and helping them navigate complex transformation agendas. 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. Interestingly, 4-5 of us friends studying together for Inter-science were all among the top 10. Parekh was also one of the wealthiest persons in India, having a net worth in the billions. After the death of Hoechst managing director, company decided to do direct business. Pidilite Industries Share Price Today Live NSE, BSE: Check Pidilite Industries stock price Live. 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 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. Stock Radar: This auto component maker may retest 52-week highs in 2 months; should you buy? In 1954 on invitation from the managing director of Hoechst Balvant went to Germany for a month. Thus was born Fevicol. Bachelor of Science in Engineering, University of Mumbai; Master of Science, University of Wisconsin. Their latest investment was Series A - GrayQuest on Dec 13, 2022, when GrayQuest raised 309.5M. Apurva Parekh has made 6 investments. In the last ten years he has stuck with this synthetic glue--the cost of which has risen 50%. Rahuls Inspirational Quote: This too, shall pass away. Basit Malik : one of those classical examples of teenagers who end up their legacy as a legend. 2001-2023 CampdenFB.com. Pidilite holds its own by wooing its core customer--the carpenter--through hosting annual meets and Fevicol champion clubs. (This story appears in the 28 December, 2018 issue of Forbes India. Taking charge two decades ago, Madhukar sought to tap wider markets. 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 . 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. UPSC Wallah - What Are The Benefits Of Joining UPSC Classes? The Parekhs have remain actively involved, with five family members in senior management positions including Parekh's two sons. Balvantray Kalyanji Parekh (1925 - 25 January 2013) was an Indian entrepreneur and founder of Pidilite Industries. Pidilites workforce today is a happy balance of experienced professionals and young talent, which adds impetus to the companys growth. He earned his M.Tech. Balvantray Kalyanji Parekh (1925 25 January 2013) was an Indian entrepreneur and founder of Pidilite Industries. Pidilite now has a 70% share of the glue and sealants market in India, and 14 overseas subsidiaries. 5. 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. 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. Chief Business Officer - International Operations, Chief Strategy and Business Development Officer - Construction Chemicals. In 2009 Balvant founded Balvant Parekh Centre for General Semantics and Other Human Sciences in Baroda Gujarat India. DMM from Bajaj Institute of Management and is passionate about swimming and reading. He was known as "India's Fevicol Man". The Parekh family is actively involved in the company's activities. Physics, Electronics from Mumbai University. In his 8+ years at Pidilite, Manish has also built the leadership team with individuals who have outstanding backgrounds in top Indian and global companies. MALAY RASHMIKANT PAREKH trustee of Malay Family Trust; 0%; 12,500; Individuals (NRIs/Foreign . 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. With Pidilite since Jan 2019, Mayur has over 22 years of experience across the consulting, IT, consumer goods and pharmaceutical domains. Interest: Anubhav loves exploring nature and a wildlife enthusiast. 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. Document Information In 2022, Pidilite Industries partnered with 100x.VC.[7]. Ajay Parekh, who runs Pidilite, topped Bombay . Its products can be segmented into branded consumer and bazaar products and specialty industrial chemicals. He is the President - Procurement and responsible for procurement strategy & operations for all businesses of Pidilite. 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 Pidilites Madhukar Parekh has institutionalised his instinctive approach, laying the ground to perpetuate its spectacular 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. Its a remarkable do, as corporate events go, but as chairman and managing director Madhukar Parekh says, People who work with us today need to realise the contribution of those who came before.. [2] [3] This story appears in the November 4, 2012 issue of Forbes Asia. A Freedom Fighter, Peon, & Trader, How Balvant Parekh Created Fevicol's Billion-Dollar Empire Anubhav is an innovation specialist with 20 years of diverse research experience. Share this highlight reel. Mrudula Parekh inherited her late husband Sushilkumar Parekh's minority stake in Pidilite Industries, India's leading maker of adhesives and sealants. 38 on the list of Indias 100 richest. Large sofa sets and leisurely shutting elevators visibly conceal the power of a Rs.6,062 crore company and the success of its key brands such as Fevicol, Fevistik and M-Seal. Varsha worked as an investment banking analyst at Goldman Sachs before switching to journalism. For that she must understand their personality and the kind of art that would reflect their individuality. He joins us from Beiersdorf AG where he was the Regional Head and VP of Healthcare for Beiersdorf AG, Asia Pac. Your email address will not be published. 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". Mr. Parekh also takes personal interest in the companys social endeavours in the areas of rural development, education and health, amongst others. [6], The company has manufacturing facilities across India including in Mahad (Maharashtra), Vapi (Gujarat), Baddi and Kala Amb (both in Himachal Pradesh). After starting his business Balvant moved to flat in Sion Mumbai along with his wife, son and brother Sushil. Remote work is not going away, despite recent headlines suggesting a return to the office. "When we grow as we have, we've got to maintain that spirit of entrepreneurship and connect with all our people," he says. 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. More news. Parekh was born in a Jain family in Mahuva, Bhavnagar district of Gujarat, India. Launch of Heatx 4. Electrical Engineering, Computer Engineering from Virginia Tech Graduate School, and M. Sc. I shocked them by saying that I would go to IIT. Kripal is happy to pay more, because "when I use Fevicol I don't get any complaints on the woodwork," he says. [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. In 2009 he founded the Balvant Parekh Centre for General Semantics and Other Human Sciences to promote the discipline in India. The million-dollar question: Is investing a game of luck or skill? Favourite quote: "Culture Eats Strategy for Breakfast" Peter Drucker, Chief Business Officer - Pigments and IP Manufacturing Operations. He is passionate about travelling, and also loves to spend time with nature on a trek or hike whenever he gets the opportunity. Economy Grows at a Slower Pace of 4.4% in Dec qtr, Hope It Doesnt Take a Second Pandemic to Build Right Tools, She keeps me on my toes! DLF Chairman KP Singh gets a second chance at love at 91. Check out our Festive offers upto Rs.1000/- off website prices on subscriptions + Gift card worth Rs 500/- from Eatbetterco.com. Get your daily dose of business updates on WhatsApp. "And when I want good quality, I just don't want to risk buying some other brand.". 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 strives to provide value-added services that support business success. Pidilite Industries Limited is a public company. Pidilite 2. 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. Pidilite Industries was founded by Bavant Parekh who is the father of Madhukar Parekh. Tactics without strategy is the noise before defeat." Balvant Parekh Balvant Parekh. Balvant, who remains chairman, started out as a small trader in specialty chemicals in 1954. Ram Kripal, a 28-year-old carpenter from Gorakhpur, a small town in the northern Indian state of Uttar Pradesh, swears by a white adhesive called Fevicol. Shree brings over 25 years of diverse experience in Adhesives, Sealants and Coatings used in industrial and consumer markets. Pidilite is best known for Fevicol, its iconic white glue popularized. He has a minority stake in Pidilite, which is India's leading maker of adhesives and sealants. This button displays the currently selected search type. Today Pidilite's consumer product range, which includes adhesives, sealants, art materials and construction chemicals, contributes nearly 80% of revenues. 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. You may opt-out by. 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. 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. "We have inducted senior professionals to strengthen our management structure and reduce operational responsibilities of promoter family members,'' Apurva Parekh told TOI. He is passionate about playing racquet sports, exploring new cuisines and swimming. Madhukar Parekh and family (70%) Number of employees. Its other brands are FeviKwik, Dr. Fixit, Roff, Cyclo, Ranipal, Hobby Ideas, M-seal, and Acron. He became the Chairman of the Pidilite industry and developed it into a global-level company. 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. After postdoctoral research in Polymers from Japan, Anubhav joined GE Welch Technology Centre, Bangalore in 2004 where he created strategic technology platforms, building high performance teams and cultivating innovation culture until 2012. Chief Strategy and Business Development Officer - Pioneering Businesses. He is an inspiration for all the bussing lawyers who dream of becoming an entrepreneur in the future. He is the present chairman of the company and the 17th richest person in India as of 2021. Gujurati Edition March 1999, English Edition March 2005. Uploaded by Kapil Nagar. Seamless succession plan by the late patriarch leaves Bajaj Group in capable hands. Before completing his MBA, Prashant also worked for a couple of years in the technology sector with Mastek and STMicroelectronics. and Ph.D. degree from IIT Delhi in 1998 and 2002, respectively. Share Price, Future and Options Pidilite Inds. The company was founded by Dr Anil Diggiwal in 2018 and is currently a privately owned, bootstrapped organization. Tucked away in a small lane in the Mumbai suburb of Andheri, the Pidilite office is simple and transports you back to the early 90s. Balvant stayed in thats offices warehouse during his struggling days with his wife until he decided to start his own business. [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. Search and display advertising arent the only parts of the marketing landscape that have changed over the past three years. 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. Here's how the Microsoft-owned platform cracked the India growth story. Apurva Narendrakumar Parekh is Whole Time Director at Pidilite Industries Ltd. See Apurva Narendrakumar Parekh's compensation, career history, education, & memberships. Manishs inspirational quote: Discipline achieves what ambition seeks. In 1959 they spotted another opportunity to make synthetic glue to replace the natural glue that carpenters were using at the time. For this, he worked very closely with the Chairman and Promoter family members. These clubs allow carpenters to network, hone their professional skills and engage in community development. The start of their consumer-facing persona didn't just happen overnight, he says. Parekh is a recipient of EY Entrepreneur of the Year Award 2014 in Consumer Products category. Madhukar Balvantray Parekh is the eldest son of Indian entrepreneur and business Balvantray Kalyanji Parekh (founder of Pidilite Industries). His grandfather was a magistrate, and he motivated him to study law. For now his focus is on spotting executive talent to expand Pidilite's management ranks, currently dominated by the family. Adani doubled his fortune to $150 billion, and was the biggest gainer in both percentage and dollar terms. 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. It was founded in 1959. Parekh was born in 1946, into the Gujarati Baniya family of Banvantray Kalyanji Parekh in Mumbai, India. Balvant decided to start his own business with a help of investor Mohan and started importing cycle, areca nut, paper dyes from western countries. This article about an Indian company is a stub. Mrs. Savithri Parekh. This story appears in the November 4, 2012 issue of Forbes Asia. Today, Balvant's son Madhukar Parekh chairs . In a labour intensive agricultural sector of India, such mechanization should be avoided. [3] The company is the dominant and leading adhesives company in India. This button displays the currently selected search type. Pidilite Industries Limited is an Indian adhesives manufacturing company based in Andheri (East), Mumbai. Scribd is the world's largest social reading and publishing site. Subscribe to Forbes Asia. Pidilite Industries Limited has 5034 employees. Rahul started his career in ITC Limited where he spent nine years across various roles and businesses. 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. (The rest comes from specialty industrial chemicals.) He currently heads the Human Resource Function at Pidilite. "In a country as big as India there are plenty of opportunities; it's all about spotting them," he says. With a total of 40 years work experience, Amol has spent 26 years at Pidililte. Balvant also founded Balvant Parekh Centre for General Semantics & Other Human Sciences Baroda, Gujarat, 2009. [1] Madhukar is 16th richest Indian with a net worth of US$7.5 billion as of 2019. All Rights Reserved. Days Trial. See insights on Pidilite including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. PLAN, Yearly PLAN. Shrees Inspiring Quote: Once a new technology rolls over, if you are not a steamroller, then you are a part of the road. Prashant is a graduate of B.Tech (Electrical Engineering) from IIT Kanpur and holds an MBA from IIM Bangalore, where he graduated amongst the top ten in his class. Brad Pitt's portrayal of Beane isn't the only Hollywood link to Barnsley's new owners. His focus is on spotting Executive talent to expand Pidilite 's management ranks, currently dominated the! I want good quality, I just do n't want to risk buying some Other.! Away in 2013, at the age of 88 has about 14 years of experience driving! Share price today Live NSE, BSE: Check Pidilite Industries Limited is an for! Son of Balvant Parekh Centre for General Semantics & Other Human Sciences in Baroda Gujarat India Secretarial Engineering. Joins us from Beiersdorf AG where he was the biggest gainer in both and..., started out as a legend us from Beiersdorf AG, Asia Pac on a trek or hike whenever gets... `` and when I want good quality, I just do n't want to buying. Comes from specialty industrial chemicals. Roff, Cyclo, Ranipal, Hobby Ideas, M-seal, M.! Strategy is the President - Legal & amp ; O quote, stock quote of Pidilite.! 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