Meet the Indian billionaire sticking behind the ‘Fevicol’ brand

Madhukar Parekh is currently the 17th richest person in India

This is a story of a very talented and visionary Indian industrialist and businessman, who has taken his father’s business to new skies. This is the story of 76-year-old Madhukar Balvantray Parekh, chairman of Pidilite Industries Ltd, who is the 17th richest person in India. According to Forbes, his net worth is about Rs 87,750 crore. He also serves as the managing director and executive director of Vinyl Chemicals India ltd.

Madhukar Parekh was born in Mumbai and did his graduation in chemical engineering from the same city from the University of Mumbai. This entrepreneur does not only have talent in the corporate world but also has a great academic background. He had secured 4th rank in the IIT JEE examination. He completed his master’s in chemical engineering from the University of Wisconsin, USA in 1969.

After completing his masters, he had worked at Abbot Laboratories USA. His father, Balvantray Parekh was a businessman and had founded Pidilite Industries in 1959. Madhukar Parekh joined his father’s business in 1971. The company has witnessed an upward trending graph since his entry. He took the company on an international level.

Pidilite Industries Ltd is one of the leading multinational adhesives and sealants manufacturing companies in India. Some of its other products include construction & paint chemicals, art & craft material and pigments. Its adhesives brand ‘Fevicol’, is the most trusted adhesives brand in India. M-Seal, Fevikwik, Fevistik, Dr Fixit, Araldite are some of the other major brands of the company.

Through smart and clever advertising, Fevicol and other brands have emerged as synonymous with adhesives and sealants. As of December 2021, Madhukar Parekh holds about a 10.24% stake in Pidilite Industries while his younger brother Ajay Parekh holds a 9.33% stake in the company. Ajay too is a billionaire.