From sleepless nights at Railway Platforms to Billion-Dollar Heights : The Journey of Satyanarayan Nuwal

Few people in this world achieve their dreams and rise to fame on their own. They are legends in their own right for starting from scratch, overcoming all odds, and raising the bar to an unimaginably high standard. Today we have such a legendary man, Satyanarayan Nuwal.

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Who is Satyanarayan Nandlal Nuwal?

Satyanarayan Nandlal Nuwal is a great businessperson who has been the head of 11 different companies and the Chairman and Founder of Solar Industries India Ltd.

In 1995, Mr. Nuwal started Solar Industries India to trade in industrial explosives and then started manufacturing them. A major part of his annual revenue is from exports, followed by housing and infrastructure, state-owned coal companies and the defence sector. 

Satyanarayan Nuwal’s family

Mr Nuwal was brought up in Bhilwara village, Rajasthan which is also Satyanarayan Nuwal's birthplace. His father was a government accountant (Patwari), and his grandfather was a shopkeeper. He had two siblings, a brother and a sister. His life was usual, as a kid in a middle-class family in the village area. 

He generally prefers speaking in Hindi. English is never his first or second language. He is an ordinary man with extraordinary talent. He does not have a high qualification and a degree. He dropped out of school when he was in Class 10th to find his luck in the business. He stayed in Mathura with his gurudev for some time and was also trying his hands in business. This was the time when he realised that he was more interested in business than education. He says in Mathura he learned patience, which helped him in his tough times.

Nuwal set up his first business, an ink manufacturing unit in 1970 at the young age of 18. But the business was not profitable. At that time, he was too innocent to understand that business is gruelling at times. He tried his hand at many things, including a leasing business and a transport company but everything failed. Despite continued setbacks, he never lost hope and tried better to achieve his dream.

At the age of just 19, he was married. After getting married and having more obligations, he moved from Rajasthan to Maharashtra in pursuit of a suitable job. He also stayed in Maharashtra’s Chandrapur until 1977. During that period, he struggled to pay for basic needs.  He persevered and kept up his diligent job despite this.

His first few nights in the major city were spent sleeping at the railway station because he didn't have enough money to rent a house. His financial issues had caused him to go through a very difficult time in his life but he did not give up. He says that he was very confident about hard work.

He started a modest trading and chemicals company, but it failed. He relocated to Nagpur to work with his cousin. His belief and confidence paid him. The dark clouds soon parted after months of struggle when he met Abdul Sattar Allah Bhai, who had a magazine and a licence for explosives, but was not interested in operating a business using those resources as he was too old. He took the opportunity and started renting explosive magazines.  Satyanarayan paid Abdul Sattar Rs 1,000 in rent to get the licence, intending to start a business. He soon began making money from customers looking for ammunition to use in coal mines. Mr Nuwal also began renting explosive magazines in the 1970s. He grew his company and became a consignment agent and one of the greatest explosives dealers in India.

Satyanarayan Nuwal
Satyanarayan Nuwal  (PC: X former twitter)

In 1995, Satyanarayan Nandlal Nuwal laid the foundation of Solar Industries in Nagpur, starting as a modest explosives trading business. Within a year, he transitioned it into a manufacturing powerhouse from a small plant, investing a capital of Rs 1 crore. Today, Solar Industries stands as a premier explosives manufacturing company under Nuwal's visionary leadership. Specializing in the production, supply, and export of industrial explosives and initiating systems, the company offers a diverse range of products, including bulk and packaged explosives, slurry and emulsion-based explosives, pentaerythritol tetranitrate (PETN), and essential accessories like cast boosters, detonators, and detonating fuse. 

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With 25 manufacturing plants spread across eight states in India and four in international locations, including Zambia, Nigeria, Turkey, and upcoming units in South Africa, Ghana, Australia, and Tanzania, Solar Industries caters to over 50 countries globally. The Company's contributions extend across the mining and infrastructure sectors, reflecting Nuwal's relentless commitment to excellence and global expansion. Satyanarayan's astute business decisions, coupled with relentless hard work, transformed a modest beginning into a conglomerate with an estimated net worth of $3 billion, according to Forbes in 2022.

Solar Industries, under Satyanarayan's leadership, diversified its offerings and has entered the lucrative defence industry. The company began producing various products, from grenades and warheads to drones and explosive initiating systems. Today, Solar Industries boasts a presence in different countries, making it the largest producer of industrial explosives and explosive initiating systems in India.

Satyanarayan Nuwal's journey from adversity to prosperity serves as an inspiration to aspiring entrepreneurs. His story encapsulates the essence of resilience, determination, and unwavering belief in the power of hard work. As the architect of Solar Industries' success, Nuwal has not only achieved personal triumph but has also contributed significantly to India's standing in the global business landscape.

Satyanarayan Nuwal Net worth

Satyanarayan Nuwal stands 1647th in the billionaires of Forbes list (2023). His real-time Net Worth is around $3.3B. 


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