Since then, the engineering equipment maker has grown exponentially. In 2011/12, it earned a net profit of close to Rs 7 crore on sales of Rs 108 crore.
Parikh, who is also Chem Process's Managing Director, is now turning his attention to water desalination plants. This is apt given that his state Gujarat has India's longest coastline. "We are targeting rural areas," he says. "These plants will be small, not very energy-intensive, and easy to operate."
Parikh, who worked with two family-run businesses before setting up Chem Process, wants his company to have wholly professional management.
He is confident Chem Process has the potential to be a Rs 400-crore company in five years' time. But he is not in a hurry to expand. "We look at our success in terms of new technical developments and not money," he says.