Are Indian cities earthquake ready? Before Lupin, Mayur had several years of cross-industry experience across various organisations including Eastman Kodak, SAP and Asian Paints. 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. Note : Parekh died at the age of 88 on 25 January 2013 in Mumbai, India. In a country as big as India there are plenty of opportunities; it's all about spotting them. Under his IT leadership, Lupin became a pioneer in the adoption of cloud and While he was studying Balvant married Kantaben. [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. Balvant stayed in thats offices warehouse during his struggling days with his wife until he decided to start his own business. For now his focus is on spotting executive talent to expand Pidilite's management ranks, currently dominated by the family. Pidilite Industries Limited 1996 - Present27 years Education University of Wisconsin-Madison BSChemical Engineering 1989 - 1993 University of Mumbai HSCScience 1987 - 1989 More activity by Apurva. Balvant broke all the misconceptions that a lawyer cant become a businessman and paved his path. Pidilite Industries was founded by Bavant Parekh who is the father of Madhukar Parekh. 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 Industries was founded by Balvant Parekh in 1959. Days Trial. Its other brands are FeviKwik, Dr. Fixit, Roff, Cyclo, Ranipal, Hobby Ideas, M-seal, and Acron. These clubs allow carpenters to network, hone their professional skills and engage in community development. 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. 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. Interest: Anubhav loves exploring nature and a wildlife enthusiast. Investors, Sanjiv Bajaj aur COVID-19. LocationsView all. The company's main business interests are in adhesives and sealants. COPYRIGHT 2023, FORBESINDIA.COM ALL RIGHTS RESERVED, Mayank Kale and Amrit Singh's Loop is filling the gaps in health insurance. Mr. Madhukar B. Parekhs journey with Pidilite commenced in 1972, after his stint with Abbot Laboratories in the U.S., which he joined immediately after completing his Masters in Chemical Engineering from University of Wisconsin. Copyright 2019 Outlook Business!. Pidilite's Madhukar Parekh has institutionalised his instinctive approach, laying the ground to perpetuate its spectacular success with focusing on product innovation. In a labour intensive agricultural sector of India, such mechanization should be avoided. [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. Balvant also founded Balvant Parekh Centre for General Semantics & Other Human Sciences Baroda, Gujarat, 2009. 2499 1749, Monthly 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. News flow. She was a national level athlete and now enjoys running half marathons. Taking charge two decades ago, Madhukar sought to tap wider markets. 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. (This story appears in the 28 December, 2018 issue of Forbes India. The Parekhs have remain actively involved, with five family members in senior management positions including Parekh's two sons. In 1954 Balvant started trading and manufacturing of dye and industrial chemicals, pigment emulsions unit in Jacob circle Mumbai along with his brother Sushil, which he named Parekh Dyechem Industries. Fixit and M-seal are market leaders with high shares in their respective segments. It was founded in 1959. [10], Balvant had two sons Madhukar Parekh and Ajay Parekh both part of the family business Pidilite Industries.,[11] and one daughter, Kalpana Parekh. In 1954 on invitation from the managing director of Hoechst Balvant went to Germany for a month. Gautam in an inclusive and adaptable leader who aspires to build strong teams, strengthen entrepreneurial mind-set and encourage diversity. Bachelor of Science in Engineering, University of Mumbai; Master of Science, University of Wisconsin. Chief Business Officer - International Operations, Chief Strategy and Business Development Officer - Construction Chemicals. More recently, Prabhakar was the force behind the acquisition of the adhesives business and the formation of the company in Sri Lanka, as well as the formation of wood finish JV ICA Pidilite with ICA of Italy. ), 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. Madhukar Parekh chairs Pidilite Industries, the country's leading maker of adhesives and sealants. Madhukar Balvantray Parekh is the eldest son of Indian entrepreneur and business Balvantray Kalyanji Parekh (founder of Pidilite Industries). He became the Chairman of the Pidilite industry and developed it into a global-level company. He donated INR 20 million for Bhavnagars Science city project and also donated to Gujarati Sahitya Parishad. 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. 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. Continuing the focus on product and brand innovation, under his leadership, Pidilite has clearly differentiated itself from competition in this otherwise generic market. Parekh is a recipient of EY Entrepreneur of the Year Award 2014 in Consumer Products category. 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. Pay up abroad, but play around in India. 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 His grandfather was a magistrate, and he motivated him to study law. Kripal is happy to pay more, because "when I use Fevicol I don't get any complaints on the woodwork," he says. Thus was born Fevicol. . 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. The familys privately held flagship Shapoorji Pallonji Group saw a return to profit, exited a one-time debt restructuring amid a family tragedy. 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. 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. Pidilite's Executive Chairman is M. B. Parekh. 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. Gujurati Edition March 1999, English Edition March 2005. Document Information Anand Mahindra bonds with old 'classmate' Bill Gates, two billionaires talk about working together, Not just humans, Google is also firing robots! 0 ratings 0% found this document useful (0 votes) 1 views. Experience Your Economic Times Newspaper, The Digital Way! [2] [3] But can it sustain the momentum? Announced Date Dont miss out on ET Prime stories! Before completing his MBA, Prashant also worked for a couple of years in the technology sector with Mastek and STMicroelectronics. Remote work is not going away, despite recent headlines suggesting a return to the office. His eldest son, Madhukar, is the present chairman of Pidilite Industries. He loves spending time with his music, books and family. 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. That said, the sprawling campus does have a few new buildings, a swimming pool and a large cafeteria. 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 . Their latest investment was Series A - GrayQuest on Dec 13, 2022, when GrayQuest raised 309.5M. Madhukar Parekh and family (70%) Number of employees. The business was listed in 1993, but the family retained a 70% stake. 30M+ Traders and . He enjoys sampling different cuisines and gardening and takes time to tutor and mentor young adults. Choose your reason below and click on the Report button. 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. Rahul is a Post Graduate from IIM - Bangalore and B.Tech from IIT-ISMU. 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? 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. This story appears in the November 4, 2012 issue of Forbes Asia. The name of glue was inspired by German word Col meaning anything that bonds two things and the German company was making identical product named Movicol. He strives to make Pidilite a great place to work where people are inspired to be the best they can be. Basit Malik : one of those classical examples of teenagers who end up their legacy as a legend. 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. 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 Shrees Inspiring Quote: Once a new technology rolls over, if you are not a steamroller, then you are a part of the road. 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. He was responsible for growing the Fevicol business and implemented some of its core building blocks, namely: 1. Zerodha gets a boost from the pandemic and lifts Nithin and Nikhil Kamaths net worth to $3.45 billion. Madhukar completed Bachelor of Engineering in Chemical Engineering from the University Department of Chemical Technology of University of Mumbai and Masters in Chemical engineering from University of Wisconsin the United States in 1969. Balvant Parekh Balvant Parekh. 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. Pidilite Industries Limited is a public company. His company manufactures adhesives, resins, pigments, sealants, products widely used by painters, carpenters, plumbers, etc. It has also penetrated deep into rural India.". Pankaj is a post graduate in Management and has over 27 years of experience in the areas of Supply Chain, Retail Business and Information Technology. 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. So, let us delve into this article to read the success story of this brilliant lawyer who turned into an entrepreneur. 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. Indian Chemical Councilconferred him withICC Lifetime Achievement Awardfor the year 2017. Subscribe to Forbes Asia. To read full story, subscribe to ET Prime, Billed annually at Gautam has over 22 years of diverse cross functional commercial leadership experience in global matrix organizations like Beiersdorf, Johnson & Johnson and Reckitt Benckiser across Singapore, UK and India offices with experience of driving product and commercial innovations, white space entry, portfolio management, M&As/strategic alliances and transformational change while setting up of new business functions and market turnarounds across Europe & Asia Pac. Madhukar Parekh is chairman of Pidilite Industries, a company founded by his late father, Balvant Parekh, in 1959. His eldest son, Madhukar, Infrastructure and IT Security domains resulting in the globalization and modernization of the IT function. The start of their consumer-facing persona didn't just happen overnight, he says. He was known as "India's Fevicol Man". More news. Unlock your 30 days free access to ETPrime now. After the death of Hoechst managing director, company decided to do direct business. Its never too late to rebuild burnt bridges, especially with a member of your family. 38 on the list of Indias 100 richest. He is the present chairman of the company and the 17th richest person in India as of 2021. He joined Abbot Laboratories USA after his master's degree. After expanding the domestic market he spearheaded a global scale-up in the mid-2000s, making a series of acquisitions. Company has Deloitte Haskins & Sells . 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 . Mr. Parekhs four decade long journey has converted an unexciting product into one of the countrys top brands Fevicol. "We realized that we were not exploiting our brand and distribution strengths enough. 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. Pidilite Industries Limited specialises in retail. Foodpanda Case Study: How the Billion Dollar Startup Model Failed? In 1959 they spotted another opportunity to make synthetic glue to replace the natural glue that carpenters were using at the time. Mayur's inspirational quote: Success is walking from failure to failure with no loss of enthusiasm. Opinions expressed by Forbes Contributors are their own. 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. . 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 . This button displays the currently selected search type. The million-dollar question: Is investing a game of luck or skill? When expanded it provides a list of search options that will switch the search inputs to match the current selection. Under his leadership, Pidilites eCommerce business in hobby retailing was conceptualized and executed. He currently heads the Human Resource Function at Pidilite. To celebrate the occasion of Mr. Parekh's 75th birthday. 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