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? 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. His grandfather was a magistrate, and he motivated him to study law. 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. [6], The company has manufacturing facilities across India including in Mahad (Maharashtra), Vapi (Gujarat), Baddi and Kala Amb (both in Himachal Pradesh). 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. How far did Baba Ramdev stretch to bag Ruchi Soya? . Experience Your Economic Times Newspaper, The Digital Way! "In a country as big as India there are plenty of opportunities; it's all about spotting them," he says. 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. [2][3], Parekh is the son of Balvant Parekh, who founded Pidilite Industries in 1959. "We realized that we were not exploiting our brand and distribution strengths enough. +Includes DocuBay and TimesPrime Membership. 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. Prashant joined Pidilite in Aug, 2019. Favourite quote: "Culture Eats Strategy for Breakfast" Peter Drucker, Chief Business Officer - Pigments and IP Manufacturing Operations. For that she must understand their personality and the kind of art that would reflect their individuality. In 2022, Pidilite Industries partnered with 100x.VC.[7]. 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. 30M+ Traders and . He is the present chairman of the company and the 17th richest person in India as of 2021. 3. Dont miss out on ET Prime stories! He has been instrumental in driving the business growth, helping the business achieve a threefold growth from 2010 to early 2017. "And when I want good quality, I just don't want to risk buying some other brand.". His eldest son, Madhukar, succeeded him as chief executive in 1992. 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.". 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. and 34; others. More than half of the company's $1.3 billion in annual revenue comes from adhesives and sealants. The cavity may be configured to accommodate a metal dauber applicator comprising a metal dauber applicator wire 104, wherein the wire 104 comprises a first end 302 and a second end 304, wherein the first end 302 may be fitted with cotton blob 105. N. K. Parekh, Vice Chairman. Parekh and his family own a majority stake in the company, which was founded by his late father Balvant Parekh in 1959. The start of their consumer-facing persona didn't just happen overnight, he says. The Parekh family is actively involved in the company's activities. What's the Pacific Media Group? . Balvantray Kalyanji Parekh (commonly known as Balvant Parekh) was an Indian lawyer, entrepreneur, and businessman who founded Pidilite Industries in 1959. In 1959 they spotted another opportunity to make synthetic glue to replace the natural glue that carpenters were using at the time. About. Amol is a strategic procurement expert who consistently and continuously delivers the most competitive solutions while providing outstanding customer service and process efficiency. The significant development and shaping of premium PWG brands like Marine and Speedex. Parekh was also one of the wealthiest persons in India, having a net worth in the billions. It has a revenue of $710M. Under his IT leadership, Lupin became a pioneer in the adoption of cloud and (Plastics Engineering) from University of Lowell, USA, his B.Tech in Chemical Engineering from Indian Institute of Technology, Bombay and a Diploma in Systems Management from University of Bombay. (The rest comes from specialty industrial chemicals.) Zerodha gets a boost from the pandemic and lifts Nithin and Nikhil Kamaths net worth to $3.45 billion. LocationsView all. Rahul joined Pidilite in 2010 as the President Sales and Marketing for the Art & Stationery Business. Stock Radar: This auto component maker may retest 52-week highs in 2 months; should you buy? COPYRIGHT 2023, FORBESINDIA.COM ALL RIGHTS RESERVED, Mayank Kale and Amrit Singh's Loop is filling the gaps in health insurance. 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 . To many, Balvant Parekh was fondly known as 'BKP' and Balubhai. Balvant stayed in thats offices warehouse during his struggling days with his wife until he decided to start his own business. He also serves as an Executive Director of Pidilite Industries and Vinyl Chemicals India Ltd.[11], Last edited on 12 February 2023, at 05:17, University Department of Chemical Technology, "Madhukar Parekh's Pidilite Industries Earns His Family $1.36 Billion", "Madhukar Parekh Of Pidilite Is Moving From Strength To Strength", "The winners of the Entrepreneur Of The Year 2014 awards", https://en.wikipedia.org/w/index.php?title=Madhukar_Parekh&oldid=1138887903, Ranked 13 on Business Today Top 25 business leaders in India 2012, Chemtech Business leader of the Year 2013, EY Entrepreneur of the year - Consumer products 2014, This page was last edited on 12 February 2023, at 05:17. Electrical Engineering, Computer Engineering from Virginia Tech Graduate School, and M. Sc. I shocked them by saying that I would go to IIT. It was founded in 1959. 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. Parekh was born in a Jain family in Mahuva, Bhavnagar district of Gujarat, India. Thus was born Fevicol. 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. Related by financial asset: Pidilite Industries. . He is a regular speaker at industry events, and has been the recipient of numerous industry recognition awards. "We have inducted senior professionals to strengthen our management structure and reduce operational responsibilities of promoter family members,'' Apurva Parekh told TOI. Pidilite's range of products includes construction chemicals, art materials and organic pigments. 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 In fact, search trends for "remote work jobs" and "work from home Mayur's inspirational quote: Success is walking from failure to failure with no loss of enthusiasm. Rahul is a Post Graduate from IIM - Bangalore and B.Tech from IIT-ISMU. Uploaded by Kapil Nagar. The company operates in two segments Branded. After expanding the domestic market he spearheaded a global scale-up in the mid-2000s, making a series of acquisitions. Anand Mahindra bonds with old 'classmate' Bill Gates, two billionaires talk about working together, Not just humans, Google is also firing robots! 15 pages. 5. Copyright 2019 Outlook Business!. Pidilite was then a small maker of synthetic glue with revenue of $1.3 million. In a country as big as India there are plenty of opportunities; it's all about spotting them. Balvant got married to Kantaben while studying, and the couple has three children, Madhukar Parekh, Ajay Parekh, and Kalpana Parekh. 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. What's the Pacific Media Group? I most recently worked at Dyson as a Marketing Project Specialist with a focus on retail media planning and e . Do you have. Indian Chemical Councilconferred him withICC Lifetime Achievement Awardfor the year 2017. Its other brands are FeviKwik, Dr. Fixit, Roff, Cyclo, Ranipal, Hobby Ideas, M-seal, and Acron. Your use of this site is governed by the Terms and Conditions. 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. Apurva Narendrakumar Parekh is Whole Time Director at Pidilite Industries Ltd. See Apurva Narendrakumar Parekh's compensation, career history, education, & memberships. He joins us from Beiersdorf AG where he was the Regional Head and VP of Healthcare for Beiersdorf AG, Asia Pac. 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. DMM from Bajaj Institute of Management and is passionate about swimming and reading. 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.. Manishs inspirational quote: Discipline achieves what ambition seeks. Your email address will not be published. Darpan and tablets for sales force automation 3. The German software giant aims to double its investments in India over the next five years. When expanded it provides a list of search options that will switch the search inputs to match the current selection. 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. Pidilite's Madhukar Parekh has institutionalised his instinctive approach, laying the ground to perpetuate its spectacular success with focusing on product innovation. Further, the cap 101 comprises a cavity 102. Parekh and his family own a majority stake in the company, which was founded by his late father Balvant Parekh in 1959. With an experience of over 25 years in construction chemicals industry, Himanshu has managed businesses in scores of matured and emerging markets. Edit Personal Investments Section. Madhukar Balvantray Parekh is the eldest son of Indian entrepreneur and business Balvantray Kalyanji Parekh (founder of Pidilite Industries). 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. . 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. He is passionate about travelling, and also loves to spend time with nature on a trek or hike whenever he gets the opportunity. All rights reserved. Bachelor of Science in Engineering, University of Mumbai; Master of Science, University of Wisconsin. Share this highlight reel. The opportunity to work with unique brands attracts a diverse pool of talent who are interested to work across B2B and B2C market segments. M.B. This button displays the currently selected search type. 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. [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 has a minority stake in Pidilite, which is India's leading maker of adhesives and sealants. I am a customer-centric digital marketer with 2 years of work experience. To visit our Archives, click here. His grandfather was a magistrate, and he motivated him to study law. 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. Digital Yug is an Indian digital media platform that posts real life stories, events, news, and blogs about startups, entrepreneurs, and successful people. . 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. 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. In 2009 he founded the Balvant Parekh Centre for General Semantics and Other Human Sciences to promote the discipline in India. Anubhav is an innovation specialist with 20 years of diverse research experience. Pidilite. He enjoys sampling different cuisines and gardening and takes time to tutor and mentor young adults. Balvant studied law at Government Law College, Mumbai, known as India's Fevicol Man. 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. But Parekh never practiced law and worked in a printing and dyeing press in Mumbai and a peon in a wood traders office. It reported revenues of 417 million last year. 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. Their diversified group sees a future in EVs, as profits power a 24% increase in the family fortune to $5.8 billion. He is the President - Procurement and responsible for procurement strategy & operations for all businesses of Pidilite. Foodpanda Case Study: How the Billion Dollar Startup Model Failed? The great melting and eventual sinking: Have we reached the point of no return? Are Indian cities earthquake ready? Madhukar joined the business in 1971 after studying chemical engineering at the University of Wisconsin and a two-year stint at Abbott Labs. Last edited on 23 February 2023, at 17:50, "Pidilite Industries Ltd. Financial Statements", "Pidilite: Glued firmly to the growth path", "Salil Dalal, COO - Emerging India, Pidilite Industries Ltd", "Pidilite launches first of its kind Heat Reducing Exterior Coating", "100xvc partners with Pidilite Industries", "Pidilite to invest up to Rs 100 cr in Nina Waterproofing", "Pidilite Industries to acquire stake in CIPY Polyurethanes", "Pidilite to acquire Huntsman unit for 2,100 crore", https://en.wikipedia.org/w/index.php?title=Pidilite_Industries&oldid=1141162944, In 2015, Pidilite acquired a 70% majority stake in Nina Waterproofing Systems for, In 2018, Pidilite acquired a 70% stake in CIPY Polyurethanes for, This page was last edited on 23 February 2023, at 17:50. [4] Parekh secured rank 4 in IIT JEE examination yet remained to study at UDCT. Today Pidilite's consumer product range, which includes adhesives, sealants, art materials and construction chemicals, contributes nearly 80% of revenues. He was known as "India's Fevicol Man". Pidilite Industries Limited is a Retail company and has headquarters in Mumbai, Maharashtra, India. He donated INR 20 million for Bhavnagars Science city project and also donated to Gujarati Sahitya Parishad. Choose your reason below and click on the Report button. Smoke without 5ire? Market Research. Parekh Marketing Ltd is a Public incorporated on 09 November 1949. But global headwinds, unemployment could stand in the way of the worlds fastest-growing economy. 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 . He is responsible for driving key strategic initiatives across the organization. responsible for the commercial and P&L management responsibility for the region and also a member of the global corporate leadership council. It is classified as Non-govt company and is registered at Registrar of Companies, Mumbai. 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 . Pidilite now has a 70% share of the glue and sealants market in India, and 14 overseas subsidiaries. Get Pidilite Industries Ltd.'s stock analysis, price valuation, corporate actions, and financials from India's independent mutual fund research house. Under his guidance, Pidilite has acquired several companies to enter international markets and enhance its product portfolio and market presence. 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. % increase pidilite parekh family the company, which was founded by his late father Balvant Parekh in 1959 Maharashtra India... The search inputs to match the current selection while studying, and motivated. Market in India over the next five years from 2010 to early 2017 study: how billion! International markets and enhance its product portfolio and market presence as profits power 24... Experience your Economic Times Newspaper, the cap 101 comprises a cavity 102 with a on... 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Brands attracts a diverse pool of talent who are interested to work with unique brands attracts a pool... Zerodha gets a boost from the pandemic and lifts Nithin and Nikhil net! Dr. Fixit, Roff, Cyclo, Ranipal, Hobby Ideas, M-seal and. Of art that would reflect their individuality and VP of Healthcare for Beiersdorf AG where he the! And process efficiency Parekh family is actively involved in the Way of the company $... Of opportunities ; it 's all about spotting them from 2010 to 2017.