The monumental success of Solar Group; which stands on a strong foundation today was laid through determination and hard work of a first generation entrepreneur, Shri SatyanarayanNandlalji Nuwal, presently The Chairman of Solar Group.
The saga of SOLAR group started in the year 1981, when ShriNuwal came down to Chandrapur (Maharashtra) from Bhilwara (Rajasthan). He then entered in a small way into explosives trading activity and went ahead to become the largest explosives dealer in the country.
In the year 1996, he entered into explosives manufacturing with an SSI unit near Nagpur and today Solar grouphas achieved the distinction of becoming the largest manufacturer and exporter of explosives and initiating systems in the country.
Solar has the distinction of having world’s largest single location Cartridge Explosives and Detonating Fuse manufacturing plant with a workforce of over 3000. The manufacturing facilities span 25 locations across India along with four overseas manufacturing units in Zambia, Nigeria, Turkey and South Africa. The products are consumed in over 42 countries. The group is also exploring setting up manufacturing bases in Australia, Indonesia and Ghana.
SIIL is listed on BSE and NSE of India and has a current market capitalization of over Rs. 6100 Cr. Turnover of Solar Group in FY 2015 -16 was Rs.1658 Cr with a Net Worth of Rs. 868 Cr.
With a cherished dream of becoming a leading defence products manufacturer in the country, Shri Nuwal identified yet another opportunity to foray into the manufacture of Defence products such as High Energy Explosives (HMX, RDX, TNT), Propellants, Ammunitions, Pyros and Igniters. Thesefacilities will help the country inreducing the massive imports of arms and ammunition and reduce our dependence on other countries for such a critical segment of national security.
Apart from managing the successful business empire, he has deep rooted religious and spiritual sentiments cultivated by his father Late Shri Nandlalji Nuwal, who devoted his substantial life span to GayatriPariwar Trust. Shri Satyanarayan Nuwal is Trustee of GayatriPariwar Trust, Executive President of Marwadi Foundation and donates generously to various organizations as corporate social obligation. Shri SatyanarayanNuwal is also Vice-President of the Executive Committee of Vidarbha Industries Association and Vice-Chairman of Ramdeobaba College of Engineering & Management.