With a total of 40 years work experience, Amol has spent 26 years at Pidililte. M.B. He earned his M.Tech. Pidilite's Executive Chairman is M. B. Parekh. 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 (1925 - 25 January 2013) was an Indian entrepreneur and founder of Pidilite Industries. His eldest son, Madhukar, Physics, Electronics from Mumbai University. This will alert our moderators to take action. His passions include reading and music. Days Trial 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. The Parekhs have remain actively involved, with five family members in senior management positions including Parekh's two sons. Smoke without 5ire? 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. Prabhakar's inspiring quote: Everyone is honest and wants to contribute. +Includes DocuBay and TimesPrime Membership. She was a national level athlete and now enjoys running half marathons. Parekh was born in 1946, into the Gujarati Baniya family of Banvantray Kalyanji Parekh in Mumbai, India. N. K. Parekh, Vice Chairman. 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. 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. He changed job as a peon in a wood traders office where he used to stay in the warehouse along with his wife. He is passionate about building teams that believe in succeeding by providing high quality solutions to its customers. The significant development and shaping of premium PWG brands like Marine and Speedex. 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.. Fevicol Champion Club Reward Program 2. 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 got married to Kantaben while studying, and the couple has three children, Madhukar Parekh, Ajay Parekh, and Kalpana Parekh. The great melting and eventual sinking: Have we reached the point of no return? Uploaded by Kapil Nagar. 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. How far did Baba Ramdev stretch to bag Ruchi Soya? 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. Balvant Parekh passed away in 2013, at the age of 88. 3. Shri Balvantray Kalyanji Parekh founder of Indian family-controlled glue company Pidilite Industries died on January 25 at the age of 88. Balvants younger brother Narendra Parekh also joined his business after finishing studies from United States. 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. Days Trial. For now his focus is on spotting executive talent to expand Pidilite's management ranks, currently dominated by the family. Pidilite Industries Limited specialises in retail. 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. . Madhukar, for one, isn't looking over his shoulder. Impactful branding trends 2022 set by an impactful entrepreneur Bhavik Mehta. At ICI Plc, he managed the paints business of the company in Indonesia, Singapore and Thailand and led senior global functional roles in strategy and strategic procurement based in Europe. Madhukar Parekh and family (70%) Number of employees. Chief Business Officer Large User Business and Services. It is classified as Non-govt company and is registered at Registrar of Companies, Mumbai. Includes DocuBay and TimesPrime Membership. 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 completed his schooling in Mahuva and later went on to study law at Government Law College, Mumbai. Rahul joined Pidilite in 2010 as the President Sales and Marketing for the Art & Stationery Business. What's the Pacific Media Group? Dont miss out on ET Prime stories! Copyright 2020 DigitalYug All rights reserved. This story appears in the November 4, 2012 issue of Forbes Asia. 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. Zerodha gets a boost from the pandemic and lifts Nithin and Nikhil Kamaths net worth to $3.45 billion. 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. Under his IT leadership, Lupin became a pioneer in the adoption of cloud and Parekh Marketing Ltd is a Public incorporated on 09 November 1949. 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. Pidilite Inds. He has been involved with establishing Pidilites flagship offering in handicraft segment Fevicryl Fabric Glue in India and neighbouring SAARC markets. DMM from Bajaj Institute of Management and is passionate about swimming and reading. 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. Taking charge two decades ago, Madhukar sought to tap wider markets. Pidilite Industries Limited has 5034 employees. 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. Buying Price - 2662 Stoploss Price - 2590 Target Price - 2920. 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. Parekh and his family own a majority stake in the company, which was founded by his late father Balvant Parekh in 1959. After expanding the domestic market he spearheaded a global scale-up in the mid-2000s, making a series of acquisitions. The contemporary structures signify that at Pidilite, the past and the present exist in harmony. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Its other brands are FeviKwik, Dr. Fixit, Roff, Cyclo, Ranipal, Hobby Ideas, M-seal, and Acron. Pidilite Industries was founded by Balvant Parekh in 1959. Company has Deloitte Haskins & Sells . Pidilite - Professional Family to a Family of Professionals | Outlook Business 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. So, let us delve into this article to read the success story of this brilliant lawyer who turned into an entrepreneur. This is a BETA experience. 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.". Balvant decided to start his own business with a help of investor Mohan and started importing cycle, areca nut, paper dyes from western countries. Know quake-prone zones in India Rahul moved as President - HR in July, 2017. Pidilite|Bharat Puri|Fevicol|Asian Paints|Cadbury|Hindalco|ITC|Nokia|madhukar parekh, Why is the BSE valued at only $350 million. Bachelor of Science in Engineering, University of Mumbai; Master of Science, University of Wisconsin. Madhukar Balvantray Parekh is the eldest son of Indian entrepreneur and business Balvantray Kalyanji Parekh (founder of Pidilite Industries). Currently, Pidilite has 14 overseas subsidiaries. Madhukar Parekh is chairman of Pidilite Industries, a company founded by his late father, Balvant Parekh, in 1959. Not to mention the bond with carpenters like Ram Kripal. Today, Balvant's son Madhukar Parekh chairs . Remote work is not going away, despite recent headlines suggesting a return to the office. 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. "Fevicol is synonymous with glue in India," acknowledges Ankur Agarwal, vice president for Indian midcaps at Nomura Securities' Mumbai office. 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. Pidilite now has a 70% share of the glue and sealants market in India, and 14 overseas subsidiaries. Opinions expressed by Forbes Contributors are their own. Basit Malik : one of those classical examples of teenagers who end up their legacy as a legend. Its products can be segmented into branded consumer and bazaar products and specialty industrial chemicals. He loves spending time with his music, books and family. To celebrate the occasion of Mr. Parekh's 75th birthday. Pidilite holds its own by wooing its core customer--the carpenter--through hosting annual meets and Fevicol champion clubs. In 1954 on invitation from the managing director of Hoechst Balvant went to Germany for a month. 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. Mrudula Parekh Net Worth, Age, Height, Weight, Husband, Wiki, Family 2023. 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. Chief Operating Officer - Special Projects. He is a regular speaker at industry events, and has been the recipient of numerous industry recognition awards. Document Information He contributed himself as executive director at Pidilite Industries as well as Vinyl limited. Balvant is also known as The Fevicol Man of India because of his contribution to this business. . 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. Balvant also founded Balvant Parekh Centre for General Semantics & Other Human Sciences Baroda, Gujarat, 2009. 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 . 2499 1749, Monthly In the last ten years he has stuck with this synthetic glue--the cost of which has risen 50%. His eldest son, Madhukar, is the present chairman of Pidilite Industries. Indian Chemical Councilconferred him withICC Lifetime Achievement Awardfor the year 2017. 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. This Jaipur based company publishes & focuses on undiscovered, small startup stories. He has been instrumental in driving the business growth, helping the business achieve a threefold growth from 2010 to early 2017. Three children, Madhukar, Physics, Electronics from Mumbai University at the age of 88 expanded it provides list... % ) Number of employees couple has three children, Madhukar sought tap. 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