Who doesn’t know about Favikool in India which has now become a necessity of every home. It has become one of the biggest brands in India, but do you know who had a hand in giving the brand its identity? Today we are going to tell about one such person.
The story of Balwant Parekh popularly known as Fevicol Man has been very challenging in bringing Fevicol to every home. Balwant first marketed this product in 1959. He was born in a Jain family. He completed his degree from the Government Law College, Mumbai, but then worked in a dyeing and printing press in Mumbai. He got married while studying law and started working as a peon after graduation.
Peon to merchant
He worked with a lumber merchant and lived in his warehouse. With the help of investor Mohan, Balwant decided to start his own company and started importing bicycles, betel nuts and paper to the West. After starting his company, Balwant, his wife, child and brother Sushil moved into a flat in Sion, Mumbai.
He also participated in the freedom struggle.
While Balwant Parekh was active in business, India was participating in the freedom struggle. Balwant Parekh also participated in the freedom struggle. He was active in the Quit India movement, but was pressured by his family to pursue further education when he decided to study law.
How did the Fevicol company start?
Balwant Parekh entered into the business with a half partnership with the German company Hoechst. During 1954, Blount went to Germany for a month at the invitation of MD Hoechst. After the death of Hoechst’s managing director, the corporation decided to run the business directly. According to Forbes, in 1954, Balwant and his brother Sushil started a business in Mumbai’s Jacob Circle called Parekh Dychem Industries for the sale and production of industrial chemicals, pigment emulsions and dyes. Balwant began acquiring more Fedco stock and created a gum called Fevicol.
How did Fevicol get its name?
In 1959, the company was renamed Padelite Industries and has been operating under the same name ever since. It does business with India in many countries. According to Statista, at the end of FY 2020, Pidilite Industries Limited had a net worth of around INR 44.65 Billion and by FY 2022 its net worth was $29.95 Million. It has a turnover of Rs 2,507.10 crore in March 2022 and Rs 2,689.25 crore in March 2023.
How much was the property?
BKP became the first Asian to receive the prestigious J. Talbot Winchell Award from the Institute of General Semantics in Texas on 28 October 2011. At the time of his death in 2013, his net worth was $1.36 billion, according to Forbes.
Also read this
Investigation of insurers: Investigation of insurance companies completed, income tax caught tax evasion of 15 thousand crores
