Madhukar Balvantray Parekh is an Indian Businessman, and the chairman of the Pidilite Industries, India’s leading maker of adhesives that deals with a wide range of products including stationery, car products, construction chemicals, art materials, sealants, food and fabric care, speciality industrial products, etc. As of 2022, he is the 16th richest man in India.
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Wiki/Biography
Madhukar Balvantray Parekh was born in 1946 (age 77 years; as of 2023) in Mumbai, India. He is a Gold Medallist Alumnus of ICT (Institute of Chemical Technology, University of Mumbai) where he earned his bachelor’s degree in Chemical Technology. He completed Masters’s in Chemical Engineering from the University of Wisconsin, US in 1969. He then joined Abbot Laboratories and worked for a few years there before coming back to India and joining his father’s business.
Institute of Chemical Technology (ICT), Mumbai, Madhukar Parekh’s Alma mater
Physical Appearance
Hair Colour: Black
Eye Colour: Black
Family
Madhukar Balvantray Parekh belongs to a Gujarati Baniya family.
Parents & Siblings
His father was Balvantray Kalyanji Parekh (1924-2013) , the founder of Pidilite Industries, also known as ‘India’s Fevicol Man’. His mother’s name is Kantaben. He has two younger siblings, Ajay Parekh and Kalpana Parekh. Ajay Parekh is the executive director of the family business. His sister Kalpana Parekh is a minor stakeholder in the company.
Balvantray Kalyanji Parekh, Founder of Pidilite Industries, Father of Madhukar Parekh
Wife & Children
He resides in Mumbai with his wife and two daughters.
Career
He came to Mumbai in (date) to study law. However, he didn’t pursue Law and instead worked in part-time businesses along with his brother. During his ventures, he came across various flaws in the Indian furniture industry which sparked his interest. He joined his father’s company Pidilite Industries in 1972. Pidilite Industries (headquartered in Mumbai, India) was founded by his late father Balvantray Kalyanji Parekh in 1959. After joining the company, Madhukar Parekh brought many significant changes to boost its reputation. Under his leadership, Pidilite Industries has scaled great heights in terms of development and revenue (1,288.87 crore net profit, as of 31 March 2023). Other notable brands under Pidilite Industries include Dr Fixit, FeviKwik, M-seal, Cyclo, Acron, Manipal, Roff, WD-40, and Hobby Ideas.
Pidilite Industries Products
Madhukar Balvantray Parekh also serves as the Chairman and Managing Director of Vinyl Chemicals India Ltd. and as an independent non-executive director of Excel Industries Ltd.
Awards, Honours, Achievements
- He secured rank 13 in the ‘Top 25 Business Leaders in India’, Business Today, in 2012.
- He won ‘Chemtech Business Leader of the Year’ in 2013.
- He was the recipient of the EY Entrepreneur of the Year Award in 2014 in the Consumer Products category (Ernst & Young).
- ICC Lifetime Achievement Award for the year 2017 from Indian Chemical Council.
- Ranked as 16th Richest Man in India in Top 50 Richest Indians (2019) by Forbes India Magazine.
- Under his tenure, Pidilite Industries has won ‘Most Promising Company of the Year’ at the CNBC-TV18, 11th India Business Leader Awards (IBLA).
Net Worth
As of July 19 2022, he has a net worth of Rs 23,170 crore.
Facts/Trivia
- He was ranked number 4 in the IIT JEE entrance test but chose chemical technology since he was interested in chemical business.
- He took up a Peon’s job at the beginning of his career.
- His family business was listed on the Bombay Stock Exchange (BSE) in 1993.
Categories: Biography
Source: vcmp.edu.vn