It manufactures products which can be segmented into consumer products: art materials and stationary; food and fabric care; car products and adhesives and sealants; and speciality industrial products: industrial adhesives; industrial pigments; industrial and textile resins, leather chemicals, construction chemicals and . Apart from business management he has also managed strategy, M&A and R&D functions. 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. What went wrong at Rana Kapoor's Yes Bank. 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. 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. [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. 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. Shrees Inspiring Quote: Once a new technology rolls over, if you are not a steamroller, then you are a part of the road. This button displays the currently selected search type. Are Indian cities earthquake ready? [2] [3] Pidilite is best known for Fevicol, its iconic white glue popularized over the decades by clever advertising. 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. Mr. Parekhs four decade long journey has converted an unexciting product into one of the countrys top brands Fevicol. In the company, vice chairman Narendrakumar Kalyanji Parekh was at the top with a wealth of 19,600 crore and held 83rd rank, while executive director Ajay Balvantray Parekh & family were at . He conducts business with the highest level of customer service, ethical standards, fairness, and transparency. Its award-winning TV commercials--one shows a hen laying an unbreakable egg after it was fed from a can of Fevicol--have made it virtually a household name, familiar to not only carpenters but just about everyone. 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. [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. [1] Madhukar is 16th richest Indian with a net worth of US$7.5 billion as of 2019. 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 . Rahul joined Pidilite in 2010 as the President Sales and Marketing for the Art & Stationery Business. (This story appears in the 28 December, 2018 issue of Forbes India. Number of Investments 6. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Chairman : M B Parekh . 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 joined family business Pidilite industries in 1971. Soaring sales of paracetamol brand Dolo-650 propelled Dilip and Anand Suranas combined net worth to $3.25 billion. Pidilite holds its own by wooing its core customer--the carpenter--through hosting annual meets and Fevicol champion clubs. 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. Pidilite Industries was founded by Balvant Parekh in 1959. 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. Indian Chemical Councilconferred him withICC Lifetime Achievement Awardfor the year 2017. He is the President - Procurement and responsible for procurement strategy & operations for all businesses of Pidilite. . News, Videos, Stock . 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 now has a 70% share of the glue and sealants market in India, and 14 overseas subsidiaries. [12], Balvant died on 25 January 2013 at the age of 88. Copyright 2019 Outlook Business!. 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He contributed himself as executive director at Pidilite Industries as well as Vinyl limited. 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. 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. 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. Pidilite's Executive Chairman is M. B. Parekh. 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. Anubhav owns about 45 global patents and authored more than 40+ research articles, reviews, highlights, book chapters in peer reviewed international journals and magazines. 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. To many, Balvant Parekh was fondly known as 'BKP' and Balubhai. 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. Balvantray Kalyanji Parekh (1925 - 25 January 2013) was an Indian entrepreneur and founder of Pidilite Industries. 2-Year Know quake-prone zones in India This motivational video is about Pidilite (Fevicol) success story in hindi, Pidilite are a market leader in adhesive, industrial and construction chemicals, . Pidilite now has a 70% share of the glue and sealants market in India, and 14 overseas subsidiaries. Parekh is a recipient of EY Entrepreneur of the Year Award 2014 in Consumer Products category. Click here to know more. In 1959 they spotted another opportunity to make synthetic glue to replace the natural glue that carpenters were using at the time. . M.B. 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.". Naatu Naatu to be performed live at the Oscars! Days Trial. 6,064 (2020) Website: www.pidilite.com: Pidilite Industries Limited is an Indian adhesives manufacturing company based in Andheri (East), Mumbai. Balvant decided to start his own business with a help of investor Mohan and started importing cycle, areca nut, paper dyes from western countries. 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. Aside from glue, Parekh's other passion was general semantics a social science designed to understand and improve the way people interact with their environment and each other. I shocked them by saying that I would go to IIT. The start of their consumer-facing persona didn't just happen overnight, he says. Today, five decades later, Pidilite Industries Ltd. (PIL) is the largest manufacturer of adhesives in India reputed for its top-quality consumer and speciality chemical products, many of which, including the Fevicol brand, are market leaders. 30M+ Traders and . His grandfather was a magistrate, and he motivated him to study law. Pidilite. Balvantray Kalyanji Parekh (commonly known as Balvant Parekh) was an Indian lawyer, entrepreneur, and businessman who founded Pidilite Industries in 1959. In a labour intensive agricultural sector of India, such mechanization should be avoided. Get Pidilite Industries Ltd.'s stock analysis, price valuation, corporate actions, and financials from India's independent mutual fund research house. The independent art consultant helps people build, archive and document their collection. Not to mention the bond with carpenters like Ram Kripal. Related by financial asset: Pidilite Industries. Himanshu joined Pidilite in July20 as the Chief Business Officer for Large User Business and Services. All Rights Reserved. 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. You must not reproduce, duplicate, copy, sell, resell or exploit any material on the Website for any commercial purposes. N. K. Parekh, Vice Chairman. When expanded it provides a list of search options that will switch the search inputs to match the current selection. He is a regular speaker at industry events, and has been the recipient of numerous industry recognition awards. In 2009 Balvant founded Balvant Parekh Centre for General Semantics and Other Human Sciences in Baroda Gujarat India. Madhukar Parekh chairs Pidilite Industries, the country's leading maker of adhesives and sealants. Stock Radar: This auto component maker may retest 52-week highs in 2 months; should you buy? It is classified as Non-govt company and is registered at Registrar of Companies, Mumbai. Madhukar, for one, isn't looking over his shoulder. 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.. Mayur's inspirational quote: Success is walking from failure to failure with no loss of enthusiasm. Fondly known to all as 'BKP' and 'Balubhai', he was a warm, loving and caring leader who inspired the lives of all those he touched. 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