Curated By: Business Desk
Last Updated: August 09, 2023, 12:24 IST
Balvant Parekh is a first-generation entrepreneur from post-independence India. Revered as the Fevicol Man, he introduced Pidilite Industries in 1959 — a venture that defined adhesive solutions in the Indian market. Initially, when he founded the enterprise, it faced numerous challenges and adversities. Balvant Parekh stands as the ingenious mind behind the Fevicol Company, which has a staggering net worth of Rs 44.65 billion, as of 2022. From his humble beginnings as a peon, Balvant Parekh reshaped the landscape with unwavering resolve. He initiated a venture that serves a purpose and earned him global accolades. Fevicol, his brainchild, emerged as a transformative force, displacing traditional ingredients like collagen and animal fat gum. Today, Fevicol’s influence spans 54 countries worldwide, proving indispensable for carpenters, engineers, artisans, industrialists, and the general public alike.
Born in 1925 in Mahua in the Bhavnagar district of Gujarat, Balvant Parekh held a law degree, but he never pursued a legal career. Instead, he embarked on a journey at a printing press in Mumbai, followed by a stint as an office attendant in a timber firm. During this phase, he and his wife even resided in the company’s warehouse, where he keenly observed the intricacies of woodworking.
Driven by his entrepreneurial aspirations, Balvant Parekh initiated ventures that ranged from importing bicycles, areca nuts, and paper dyes from the Western world to India. Invited to Germany for a month by the company’s Managing Director, he and his brother co-founded Parekh Dyechem Industries in Mumbai following the MD’s demise. Gradually increasing their stake in Fedco, they eventually formulated an adhesive named Fevicol. Fevicol made its debut in India in 1959. During the same year, the company rebranded as Pidilite Industries. Fevicol emerged as a user-friendly adhesive tailored for woodworkers.
Starting in 2006, the brand shifted its attention towards global growth, establishing manufacturing facilities in various locations including the US, Thailand, Dubai, Egypt, and Bangladesh. Complementing this expansion, the company also started a research centre in Singapore. Through ingenious advertising campaigns, Pidilite Industries transformed an ostensibly mundane product into a premier brand.
