Madhukar Balvantray Parekh is an Indian businessman and Chairman of Pidilite Industries, a leading Indian manufacturer of adhesives with a wide range of products including stationery, automotive products, construction chemicals, art materials, sealants, food and Fabric Care, Specialty Industries As of 2022, he is the 16th richest man in India.
Wiki/Biography
Madhukar Balvantray Parekh was born in 1946 in Mumbai, India (age 77 as of 2023). He is a gold medal alumnus of ICT (Institute of Chemical Technology, University of Mumbai) with a bachelor’s degree in chemical technology. In 1969, he earned a master’s degree in chemical engineering from the University of Wisconsin. He then joined Abbot Laboratories and worked there for a few years before returning to India and joining his father’s business.
Institute of Chemical Technology (ICT), Mumbai, Madhukar Parekh’s alma mater
appearance
Hair Color: Black
Eye Color: Black
family
Madhukar Balvantray Parekh belongs to the Baniya family of Gujarat.
Parents and siblings
His father was Balvantray Kalyanji Parekh (1924-2013), founder of Pidilite Industries, also known as the “Fevicol Man of India”. His mother’s name was Cantaben. 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 minority shareholder in the company.
Balvantray Kalyanji Parekh, founder of Pidilite Industries, father of Madhukar Parekh
wife and children
He lives in Mumbai with his wife and two daughters.
Profession
He came to Bombay on (date) to study law. However, he did not pursue law and instead joined his brother in business part-time. During his entrepreneurial journey, he discovered various shortcomings in the Indian furniture industry, which piqued his interest. He joined his father’s company, Pidilite Industries, in 1972. Pidilite Industries (headquartered in Mumbai, India) was founded in 1959 by his late father, Balvantray Kalyanji Parekh. After joining the company, Madhukar Parekh brought many significant changes to enhance the reputation of the company. Under his leadership, Pidilite Industries has reached great heights in terms of growth and revenue (net profit of Rs 1,288.87 crore as on March 31, 2023). Other well-known brands under Pidilite Industries include Dr Fixit, FeviKwik, M-seal, Cyclo, Acron, Manipal, Roff, WD-40 and Hobby Ideas.
Pidilite industrial products
Madhukar Balvantray Parekh is also the Chairman and Managing Director of Vinyl Chemicals India Ltd. and an Independent Non-Executive Director of Excel Industries Ltd.
Awards, Honors, Achievements
- In 2012, he was ranked 13th among the “Top 25 Business Leaders in India” by Business Today.
- He received the Chemical Technology Business Leader of the Year award in 2013.
- He was awarded the 2014 Ernst & Young Entrepreneur of the Year in the Consumer Goods category (Ernst & Young).
- ICC Lifetime Achievement Award 2017 from Indian Chemistry Council.
- Ranked 16th among India’s 50 richest people in 2019 by Forbes India magazine.
- During his tenure, Pidilite Industries won the ‘Most Promising Company of the Year’ award at the 11th Indian Business Leadership Awards (IBLA) CNBC-TV18.
net worth
As of July 19, 2022, his net worth is Rs 231.7 billion.
Facts / Trivia
- He ranked fourth in the IIT JEE entrance exam but chose chemical technology as he was interested in chemical business.
- He started his career as a peon.
- His family business was listed on the Bombay Stock Exchange (BSE) in 1993.
Categories: Biography
Source: HIS Education