Satyanarayan Nuwal, the Chairman of Solar Industries India, was born and brought up in Bhilwara, a village in Rajasthan. In 1995, he started Solar Industries India to trade in industrial explosives then started manufacturing them. The major part of his annual revenue is from exports, followed by housing and infrastructure, state-owned coal companies and the defense sector.
Satyanarayan Nuwal’s life and education
Satyanarayan Nuwal’s father was an accountant for the government. He emphasized and believed in gaining business knowledge than depending on traditional education from childhood. Satyanarayan Nuwal spent a year with his guru after passing standard tenth and tried his hand at business. He married at the age of 19 and stayed in Maharashtra’s Chandrapur until 1977.
Satyanarayan Nuwal’s career
He began his career at a small chemicals and trading firm when he was 18, however, it didn’t turn out to be successful. It was a challenging time for the billionaire at Chandrapur and he couldn’t afford basic essentials – He had to sleep at railway stations. However, he refused to give up and kept working hard. He met Abdul Sattar Allah Bhai, who had an explosives license but was not interested in operating a business using those resources. He took the opportunity and in 1970, he started renting explosive magazines. He soon began making money from customers looking for ammunition to use in coal mines. He grew his company and became a consignment agent and became one of the greatest explosives dealers in India.
In 1995, he came up with Solar Industries headquartered in Nagpur. Initially, Solar Industries supplied explosives to publicly owned coal mines. The company has operations in 65 different countries and has its headquarters in Nagpur.
Satyanarayan Nuwal’s net worth
Satyanarayan Nuwal has an estimated net worth of $ 1.8 billion, as per Forbes.