Meet Satyanarayan Nuwal: From sleeping on railway platforms to building Rs 1 lakh crore empire

Satyanarayan Nandlal Nuwal, Chairman of Solar Industries India, is a true testament to the power of perseverance and determination. Coming from a modest family in Bhilwara, Rajasthan, he faced tough challenges early in life. Despite having to leave school after tenth grade to support his family, Nuwal never gave up. Starting with very little and enduring hardships like sleeping at railway stations, his journey to build a billion-dollar company is incredibly inspiring. It shows how staying committed and seizing opportunities can lead to remarkable success.

School drop-out

His father was a government accountant. Due to financial hardships, Satyanarayan Nuwal had to drop out of school after class 10 to support his family. Despite these challenges, his entrepreneurial spirit led him to open an ink production plant at just 18 years old. Although this initial venture failed, it did not deter him from seeking new opportunities.

The Journey of Satyanarayan Nuwal

Satyanarayan Nuwal

Satyanarayan Nuwal got married at 19 and lived in Chandrapur, Maharashtra, until 1977. He started his career working in a small chemicals and trading firm, but this too was unsuccessful. During this challenging period, he could not afford basic essentials and often slept at railway stations. However, his determination remained unwavering.

A pivotal moment in Satyanarayan Nuwal's journey was meeting Abdul Sattar Allah Bhai, who had an explosives license but no interest in running the business. Seizing this opportunity, Satyanarayan Nuwal started renting explosive magazines in 1970. This venture proved profitable as he began supplying ammunition to coal mines. Gradually, he became one of India's leading explosives dealers.

Founding of Solar Industries India

In 1995, Satyanarayan Nuwal established Solar Industries India, headquartered in Nagpur. Initially, the company supplied explosives to publicly owned coal mines. Over time, Solar Industries expanded its operations to 65 countries, evolving into a major player in manufacturing explosives, propellants, grenades, drones, and warheads. This growth aligned with the Make in India mission.

Success and Expansion

The company recently surpassed the 1 lakh crore market cap milestone. According to its latest annual report, Solar Industries has an order book valued at Rs 5,129 crore and a sales volume of 5.5 lakh MT.

For the quarter ending March 2024, Solar Industries reported its highest-ever yearly EBITDA of Rs 1,414 crore and a PAT of Rs 875 crore. The company¡¯s net revenue was Rs 1,611 crore, compared to Rs 1,929 crore in Q4FY23. Over the past year, shares of Solar Industries have delivered multibagger returns of approximately 192 per cent and have gained nearly 61 per cent in the current calendar year.

Satyanarayan Nuwal¡¯s Net Worth

According to Forbes, Satyanarayan Nuwal has an estimated net worth of $5.8 billion (Approx Rs 48,000 crore). His success story is a testament to his resilience, hard work, and visionary leadership.

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