Mr. Parekh also takes personal interest in the companys social endeavours in the areas of rural development, education and health, amongst others. How far did Baba Ramdev stretch to bag Ruchi Soya? All Rights Reserved. Today Pidilite's consumer product range, which includes adhesives, sealants, art materials and construction chemicals, contributes nearly 80% of revenues. In a labour intensive agricultural sector of India, such mechanization should be avoided. His company manufactures adhesives, resins, pigments, sealants, products widely used by painters, carpenters, plumbers, etc. 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). Unlock your 30 days free access to ETPrime now. 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. COMPANY PROFILE Pidilite - established as a partnership firm Parekh Dyechem Industries in 1959 Started by three brothers -Mr. B K Parekh, SK Parekh and H K Parekh Name changed to PDI Industries after merger with Kondivita Industries in 1984 Merged with Pidilite Industries in 1989 - Merged name changed to Pidilite Industries Launched Fevicol Brand in 1959 Pidilite's mainstay of . Five of the family members are in senior management positions including late Balvant Parekh's two sons. Sun Tzu, President - Maintenance & Repair Division. 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India's Fevicol Man, Balvant Parekh; How a freedom fighter, peon became billion dollar Pidilite Founder: - Summary of the Gallery Shree brings over 25 years of diverse experience in Adhesives, Sealants and Coatings used in industrial and consumer markets. Anubhav owns about 45 global patents and authored more than 40+ research articles, reviews, highlights, book chapters in peer reviewed international journals and magazines. Subscribe to Forbes Asia. About. 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. Today, Balvant's son Madhukar Parekh chairs . Balvant Parekh Balvant Parekh. COPYRIGHT 2023, FORBESINDIA.COM ALL RIGHTS RESERVED, Mayank Kale and Amrit Singh's Loop is filling the gaps in health insurance. She was a national level athlete and now enjoys running half marathons. This will alert our moderators to take action. Parekh served as chairman as well as managing director at Vinyl chemical India limited. The Parekhs have remain actively involved, with five family members in senior management positions including Parekh's two sons. Parekh Marketing Ltd is a Public incorporated on 09 November 1949. 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. LocationsView all. 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. 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The significant development and shaping of premium PWG brands like Marine and Speedex. 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. Prashants inspirational quote: "Strategy without tactics is the slowest route to victory. 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. The great melting and eventual sinking: Have we reached the point of no return? 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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Prashant joined Pidilite in Aug, 2019. He was known as "Indias Fevicol Man".[1]. Company has Deloitte Haskins & Sells . He donated INR 20 million for Bhavnagars Science city project and also donated to Gujarati Sahitya Parishad. Prior to joining Pidilite, Mayur served as the global CIO of Lupin Limited for 9 years, where he initiated various global initiatives in the ERP, Analytics, Manufacturing Automation, IT From Khan sir to Ashu Ghai to Vishal Tiwari, star teachers shine despite the shadows of edtech giants, Nuts and Bolts: ChatGPT and the future of work, How Milk Mantra became the taste of Odisha, Beneath the Surface: How Hindustan Zinc grew to become the world's second largest zinc producer, How companies are leveraging AI to personalise experiences, Mind The GAAP: How loss-making companies adjust numbers to show they are profitable, IDBI Bank divestment: Strong optics and no hidden surprises lure potential buyers, There are 100 million Indians on LinkedIn. 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? [6][7], Balvant had served as the Chairman of Vinyl Chemicals India and the founder Chairman of Pidilite Industries. He has also served on the Regional Advisory Boards of leading technology organizations such as Microsoft and Trend Micro. Balvant Parekh, chairman of Pidilite Industries, died on January 25, 2013, at the age of 88. Impactful branding trends 2022 set by an impactful entrepreneur Bhavik Mehta. Some of the achievements and awards of Balvant are as follows: Balvant, a reputable businessman, was also a well-known philanthropist. 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 . . Copyright 2019 Outlook Business!. Balvant joined fifty percent partnership with a German firm Fedco representing another German company Hoechst. Market Research. [1] Madhukar is 16th richest Indian with a net worth of US$7.5 billion as of 2019. Pidilite's Madhukar Parekh has institutionalised his instinctive approach, laying the ground to perpetuate its spectacular success with focusing on product innovation. It is classified as Non-govt company and is registered at Registrar of Companies, Mumbai. That said, the sprawling campus does have a few new buildings, a swimming pool and a large cafeteria. Balvant had two sons Madhukar Parekh and Ajay Parekh both part of the family business Pidilite Industries., and one daughter, . 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.". The Parekhs have remain actively involved, with five family members in senior management positions including Parekh's two sons. See insights on Pidilite including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. For this, he worked very closely with the Chairman and Promoter family members. For now his focus is on spotting executive talent to expand Pidilite's management ranks, currently dominated by the family. Balvantray Kalyanji Parekh (1925 25 January 2013) was an Indian entrepreneur and founder of Pidilite Industries. 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. 15 This Jaipur based company publishes & focuses on undiscovered, small startup stories. He provided financial support in starting an Arts and Science College in Mahua, Gujarat, India. Rahul is a Post Graduate from IIM - Bangalore and B.Tech from IIT-ISMU. Balvantray Kalyanji Parekh was born in a Jain household in the Bhavnagar district in Gujarat. The German software giant aims to double its investments in India over the next five years. 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. [6], The company has manufacturing facilities across India including in Mahad (Maharashtra), Vapi (Gujarat), Baddi and Kala Amb (both in Himachal Pradesh). He joins us from Beiersdorf AG where he was the Regional Head and VP of Healthcare for Beiersdorf AG, Asia Pac. Under his guidance, Pidilite has acquired several companies to enter international markets and enhance its product portfolio and market presence. 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. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. Balvant stayed in thats offices warehouse during his struggling days with his wife until he decided to start his own business. Other key brands Fevikwik, Dr. Rahul started his career in ITC Limited where he spent nine years across various roles and businesses. The million-dollar question: Is investing a game of luck or skill? 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. You will hardly find anyone who is a lawyer by profession and a very successful entrepreneur and business. Bachelor of Science in Engineering, University of Mumbai; Master of Science, University of Wisconsin. 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. 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. Pidilite Industries Limited has 5034 employees. 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. [12], Balvant died on 25 January 2013 at the age of 88. "The company has a strong relationship with people who influence the product--like consultants, builders, architects and civil engineering students. 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. +Includes DocuBay and TimesPrime Membership. Pidilite Industries Limited is an Indian adhesives manufacturing company. In 1959 they spotted another opportunity to make synthetic glue to replace the natural glue that carpenters were using at the time. Balvant also donated INR 20 million for Bhavnagars Science City. Apurva Parekh has made 6 investments. 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. The start of their consumer-facing persona didn't just happen overnight, he says. After starting his business Balvant moved to flat in Sion Mumbai along with his wife, son and brother Sushil. Mrs. Savithri Parekh. To celebrate the occasion of Mr. Parekh's 75th birthday. Mr.Uday Khanna, Mr.Sanjeev Aga, Mr.Debabrata Gupta, Mr.A N Parekh, Mr.Sudhanshu Vats, Mr.Bharat Puri, Mr.A B Parekh, Mr.N K Parekh, Mr.Meher Pudumjee. Apurva Parekh is the Executive Director at Pidilite Industries Limited. His grandfather was a magistrate, and he motivated him to study law. Choose your reason below and click on the Report button. Grace Hung and Paul Conway have made . Your Reason has been Reported to the admin. Balvant never practiced law and worked in a dyeing and printing press in Mumbai. 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. He strives to make Pidilite a great place to work where people are inspired to be the best they can be. Know quake-prone zones in India Maithili Parekh holds a job profile that is still in its nascent stages in India. U24114MH1949PLC007858 and its registration number is 7858.Its Email address is pcpatel@pidilite.com and its registered address is MAFATLAL HOUSE 2ND FLOORBACKBAY RECLAMATION MUMBAI MH . India is a winner and a bright spot in a world thats in turmoil, says Christian Klein, chief executive at SAP SE. Pidilite was established as a partnership firm, Parekh Dyechem Industries, in 1961 by Mr. B K Parekh and his two brothers. "When we grow as we have, we've got to maintain that spirit of entrepreneurship and connect with all our people," he says. . It is for us to leverage that capability. 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. (The rest comes from specialty industrial chemicals.) 38 on the list of Indias 100 richest. Pidilite was then a small maker of synthetic glue with revenue of $1.3 million. Before joining Goodyear, Prabhakar has worked with Madura Coats, Asian Paints and ICI Plc in India and overseas. 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. 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 story appears in the November 4, 2012 issue of Forbes Asia. Its other brands are FeviKwik, Dr. Fixit, Roff, Cyclo, Ranipal, Hobby Ideas, M-seal, and Acron. Rahul moved as President - HR in July, 2017. Are global firms taking Indian regulators for a ride? Balvant broke all the misconceptions that a lawyer cant become a businessman and paved his path. Chief Operating Officer - Special Projects. Their latest investment was Series A - GrayQuest on Dec 13, 2022, when GrayQuest raised 309.5M. Launch of Heatx 4. Chief Business Officer Large User Business and Services. 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. His passions include reading and music. Madhukar Parekh's Pidilite Industries Earns His Family $1.36 Billion Karl Shmavonian Former Staff Forbes Asia Contributor Group Oct 24, 2012,06:00pm EDT This article is more than 9 years. The company operates in two segments Branded. 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. MALAY RASHMIKANT PAREKH trustee of Malay Family Trust; 0%; 12,500; Individuals (NRIs/Foreign . 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. Physics, Electronics from Mumbai University. 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.. Balvant completed his schooling in Mahuva and later went on to study law at Government Law College, Mumbai. Shri Balvantray Kalyanji Parekh founder of Indian family-controlled glue company Pidilite Industries died on January 25 at the age of 88. . Share this highlight reel. 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 What's the Pacific Media Group? Apart from business management he has also managed strategy, M&A and R&D functions. Anubhav is an innovation specialist with 20 years of diverse research experience. The company was founded by Balvantray Kalyanji Parekh in 1959 and is headquartered in Mumbai, India. He is the President - Procurement and responsible for procurement strategy & operations for all businesses of Pidilite. Pidilite's range of products includes construction chemicals, art materials and organic pigments. You must not reproduce, duplicate, copy, sell, resell or exploit any material on the Website for any commercial purposes. "We have inducted senior professionals to strengthen our management structure and reduce operational responsibilities of promoter family members,'' Apurva Parekh told TOI. Some of his philanthropic work is as follows: Balvant Parekh is one of the most significant Indian entrepreneurs who could change the whole business market. Scribd is the world's largest social reading and publishing site. Who is Neerav Parekh? Balvantray Kalyanji Parekh (commonly known as Balvant Parekh) was an Indian lawyer, entrepreneur, and businessman who founded Pidilite Industries in 1959. CampdenFB.com is a wholly owned subsidiary of Campden Wealth When expanded it provides a list of search options that will switch the search inputs to match the current selection. Chief Business Officer - International Operations, Chief Strategy and Business Development Officer - Construction Chemicals. Madhukar Parekh was born in 1946 and completed his engineering studies at the University of Mumbai and Masters from the University of Wisconsin. 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. By the family business Pidilite Industries., and one daughter, days with his,! 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Management positions including Parekh 's two sons cant become a businessman and paved path! Of US $ 7.5 billion as of 2019 Strategy without tactics is President! Provided financial support in starting an Arts and Science College in Mahua, Gujarat, India of synthetic with! That, he says press in Mumbai Christian Klein, chief executive at SAP.!
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