Gulabchand was a son of Hirachand Doshi from his second marriage and was step-brother of Walchand Hirachand, who was born from the first marriage of his father. He was born in Solapur in Maharashtra into a Marathi Jain family. The name of his other brothers were Lalchand Hirachand and Ratanchand Hirachand.
From the years 1944–1945 Gulabchand was President of the Maharashtra Hindu Sabha and close associate of Veer Savarkar. In the 1930s, he was even arrested by British for his nationalist activities
Gulabchand was responsible for the modernization and transformation of the flagship group company, Walchandnagar Industries, from growing sugarcane to diversification into other core manufacturing businesses, when he was given charge of the company by his brother Walchand Hirachand.
Several sons were born from Gulabchand's two marriages of which Bahubali Gulabchand and Ajit Gulabchand are noted and Ajit now heads several group companies including flagship, HCC Limited. Whereas the other flagship company, Walchandnagar Industries is now run by sons of his brother, Lalchand Hirachand, after family division of businesses, as the founder of the Walchand group, Walchand Hirachand died without any heirs.
Gulabchand was the trustee of various schools, colleges and hospitals run by Walchand group.
Further, he was the author of several book about the Jain religion like Kunda-Kunda Prabhrita sangraha. Volume 9 of Jivaraja Jaina Granthamālā. Authors, Kunda Kunda, Gulabchand Hirachand Doshi, Kailash Chandra Jain
- Seth Gulabchand Hirachand| Vinayak Damodar Savarkar
- Progressive Jains of India – Satish Kumar Jain – Google Books
- Business Legends – Gita Piramal – Google Books
- Emperor vs Gulabchand Hirachand Doshi on 18 November, 1932
- Walchand Hirachand: man, his times, and achievements – Gaṅgādhara Devarāva Khānolakara, Thomas Gay – Google Books
- India's Industrialists – Margaret Herdeck, Gita Piramal – Google Books
- How HCC chief Ajit Gulabchand is tackling the challenges – Business Today
- Wine and wondering with Ajit Gulabchand of Hindustan Construction – The Economic Times
- Walchandnagar Industries Limited
- HND Pune » About Us
- Jivaraja Jaina Granthmala, No. 20