From Peon To Billionaire: Meet The 'Fevicol Man of India,' Balvant Parekh, A Freedom Fighter Who Built A Rs 1,45,000 Cr Company

Fevicol is a popular glue brand owned by Pidilite Industries, an Indian company. It was first introduced as an easy-to-use adhesive for carpenters and is used for bonding paper, cardboard, thermocol, and plywood. Today, Fevicol is sold in 54 countries and available in over 50,000 locations across India. Balvant Parekh, the man behind this iconic brand, launched it in 1959 and became known as "India’s Fevicol Man."

Balvant Parekh was born into a Jain family in Mahuva, Gujarat, during the Indian independence movement. He actively participated in the Quit India Movement and later studied law, as per his family's wishes. He completed his law degree in Mumbai but started working in a dyeing and printing press. After graduating, he worked as a peon and also had the opportunity to travel to Germany, where he gained important business insights.

With the help of investor Mohan, Balvant Parekh began importing cycle, areca nut, and paper dyes from the West. In 1959, Fevicol was launched in India as a woodworker-friendly adhesive, and Pidilite Industries was born. Over time, the company introduced new products like Fevicol, Fevicryl Acrylic Colours, Feviquick, and M-Seal, dominating the Indian adhesive market.

Balvant Parekh helped establish an Arts and Science college in Mahua, Gujarat, and donated Rs 20 million to Bhavnagar’s Science City project. In 2009, he founded the Balvant Parekh Centre for General Semantics and Other Human Sciences in Baroda, Gujarat.

On October 28, 2011, Balvant Parekh became the first Asian to receive the prestigious J Talbot Winchell Award from the Institute of General Semantics in Texas. At the time of his death in 2013, his family’s net worth was $1.36 billion, and he was ranked 45th on Forbes Asia’s India Rich List. 

By the end of the fiscal year 2020, Pidilite Industries Limited had a net worth of approximately Rs 44.65 billion, with assets valued at 29.95 million dollars as of FY2022, according to Statista. Money Control reports that the company’s net sales grew by 7.27%, rising from Rs 2,507.10 crore in March 2022 to Rs 2,689.25 crore in March 2023. Forbes noted that Balvant Parekh's net worth at the time of his death in 2013 was 1.36 billion dollars. Currently, Pidilite Industries has a market capitalization of around Rs 1,45,000 crore.