Fevicol Founder: How a peon made a brand known as Fevicol, know his journey and net worth

Starting his journey from the post of peon, Balwant Parekh has created a big brand of India and today it is worth billions. 

Who does not know about Fevicol in India, which has now become the need of every household. It has become one of the big brands in India, but do you know who has had a hand in giving this brand an 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 taking Fevicol to every household. Balwant marketed this product for the first time in 1959. He was born in a Jain family. He completed his degree from Government Law College Mumbai, but after that worked in a dyeing and printing press in Mumbai. He got married while studying law and started working as a peon after graduation. 

Peon-turned-trader 

He used to work with a timber merchant and lived in his godown. With the help of investor Mohan, Balwant decided to start his own company and started importing cycles, betel nuts and paper to the West. After starting his company, Balwant, his wife, child and brother Sushil moved to a flat in Mumbai's Sion. 

Also participated in the freedom struggle 

At the time when Balwant Parekh was showing activism in business, India was participating in the freedom struggle. In such a situation, Balwant Parekh also participated in the fight for freedom. He was active in the Quit India Movement, but when he decided to study law, he was under pressure from his family to pursue further studies. 

How did the Fevicol company start?

Balwant Parekh did business with a half partnership with German company Hoechst. During 1954, Balwant traveled to Germany for a month at the invitation of MD Hoechst. After the death of Hoechst's managing director, the corporation decided to operate the business directly. According to Forbes, in 1954, Balwant and his brother Sushil started a business in Mumbai's Jacob Circle for the sale and production of industrial chemicals, pigment emulsions and dyes under the name Parekh Dykem Industries. Balwant began acquiring more Fedco stock and made a gum known as Fevicol. 

How did fevicol get its name? 

In 1959 the name of this company was changed to Pidilite Industries and since then it is operating under the same name. It conducts business with India in many countries. According to Statista, at the end of FY 2020, Pidilite Industries Limited had net worth of around INR 44.65 billion and by FY 2022 its net worth was $29.95 million. It has done a business 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 famed J. Talbot Winchell Award from The Institute of General Semantics in Texas on October 28, 2011. According to Forbes, at the time of his death in 2013, his net worth was $1.36 billion.