Satyanarayan Nandlal Nuwal's path to success is an inspiration for anyone who aspires to become an entrepreneur.
The self-made billionaire businessman Satyanarayan Nandlal Nuwal founded Solar Industries India in 1995. Nuwal's path to success is an inspiration for anyone who aspires to become an entrepreneur. Initially, he traded industrial explosives but later began manufacturing them. Today, exports account for the majority of Nuwal's revenue, with housing and infrastructure, state-owned coal companies, and the defense sector following closely behind.
Although Nuwal's father worked for the government, he had always wanted to start his own company. At the age of 18, he established an ink manufacturing facility, but it did not succeed. Despite this setback, Nuwal continued to try his hand at other ventures before deciding to pursue his dream of becoming an industrial explosives manufacturer.
Nuwal used to sleep at the train station during his hard times. He dropped out of school after class 10 because of his family's needs, but today he runs an empire that currently has a market capitalisation of Rs 77,000 crore. Nuwal was born in a middle-class family in Bhilwara, Rajasthan. His grandfather used to run a small grocery shop, and his father was a patwari who retired in 1971, after which the family faced a lot of hardships. Nuwal got married at the age of 19.
In 1977, Nuwal came to Balharshah in Chandrapur district of Maharashtra, where he met Abdul Sattar Allahbhai, a dealer in explosives used for digging wells, building roads, and digging mines. Nuwal started doing business with Abdul Sattar's by paying Rs 1,000 a month, using his license to sell explosives. This brought a new dimension to Nuwal's life. Soon, the officials of Imperial Chemical Industries, a British firm, noticed Nuwal, and this opened a whole new world for him.
In 1995, Nuwal started a small unit of manufacturing explosives by taking a loan of Rs 60 lakh from the State Bank of India. Today, his company manufactures everything from explosives and propellants to grenades, drones, and warheads as part of the Make in India mission. The market value for the solar industries grew 1,700% in a decade, from 1,765 crores in 2012 to more than Rs 35,000 crore by November 2022. Currently, he has a net worth of $ 4.1 billion.
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