Last Updated:July 02, 2025, 16:38 IST
Satyanarayan Nuwal’s net worth is Rs 67,527 crore, as per Bloomberg. He owns about 70% of Solar Industries, which now has a market cap of Rs 1.54 lakh crore
In 2010, Solar Industries became the first private Indian company to receive a government licence to produce explosives for the defence forces. (News18 Hindi)
The first half of 2025 has brought remarkable gains for several of India’s top industrialists, with Satyanarayan Nuwal, co-founder and chairman of Solar Industries, leading the pack. His wealth soared by 78.4% to Rs 67,527 crore in just six months, according to Bloomberg data.
Despite market volatility, the top 20 industrialists saw an average return of 15.6%—more than double the Sensex’s 7.11% gain. On the other end of the spectrum, Ravi Jaipuria of RJ Corp faced the steepest decline, with his fortune dropping by 24.6% during the same period.
Solar Industries’ shares rose by 54% in 2023 and 45% in 2024, reflecting the company’s robust performance. Satyanarayan Nuwal’s journey to success has been fraught with challenges. Born in Bhilwara, Rajasthan, to a Patwari father and a grandfather who owned a small grocery shop, Nuwal’s family faced financial hardships after his father’s retirement. These difficulties forced him to leave school after the 10th standard and marry young. To support his family, he ventured into the fountain pen ink business, which unfortunately resulted in significant losses.
Once Slept On Railway Platforms
In 1977, Nuwal relocated to Balharshah in Maharashtra’s Chandrapur district in search of work. Struggling to find employment and unable to afford rent, he spent many nights on a railway station platform. Eventually, he met explosives trader Abdul Sattar Allahbhai and recognised the potential in the explosives business.
Although he lacked both a licence and warehouse, Nuwal saved money by working with Abdul, paying Rs 1,000 a month to use Abdul’s licence and warehouse. He bought explosives for Rs 250 and sold them for Rs 800, quickly expanding his business through hard work and acumen.
Started A Company With A Bank Loan
After some time, British explosives manufacturer Imperial Chemical Industries appointed Satyanarayan Nuwal as a distributor—a move that proved to be a turning point in his career. The partnership significantly boosted his business, making him financially stronger.
By 1995, with years of experience in the explosives industry, Nuwal decided to take a bigger leap. He established his own company that year, securing a bank loan of Rs 60 lakh to get started. Just a year later, in 1996, he obtained a licence to manufacture 6,000 tonnes of explosives annually.
In 2010, Solar Industries became the first private Indian company to receive a government licence to produce explosives for the defence forces. By 2021-22, with an annual capacity of four lakh tonnes, it had become the world’s fourth-largest explosive manufacturer and the largest producer of packaged explosives.
From Rs 60 Lakh Loan To Rs 67,527 Crore Net Worth
Today, Satyanarayan Nuwal’s net worth stands at Rs 67,527 crore, according to Bloomberg. Solar Industries boasts a market capitalisation of Rs 1.54 lakh crore, with Nuwal holding approximately 70% of the company. The firm employs around 8,000 workers and produces explosives and propellants for grenades, drones, and warheads.
- First Published:
#Meet #Satyanarayan #Nuwal #School #Dropout #Built #Lakh #Explosives #Empire #Business #News
