Satyanarayan Nuwal, the Chairman of Solar Industries India was born and raised in Bhilwara, a village in Rajasthan. According to Forbes Satyanarayan Nuwal’s estimated net worth is $1.8 billion. He started Solar Industries India in 1995, initially as a trading company for industrial explosives but later ventured into manufacturing. Most of his annual revenue comes from exports, followed by the housing and infrastructure sectors, state-owned coal companies and the defense sector.
Satyanarayan Nuwal Net Worth, Wealth and Wiki
Satyanarayan Nuwal’s upbringing and education were influenced by his father, who was a government accountant. Rather than relying solely on traditional education, his father stressed the importance of gaining business knowledge. After completing his tenth standard, Satyanarayan Nuwal spent a year with a guru and gained some entrepreneurial experience. He got married at the age of 19 and lived in Chandrapur, Maharashtra, until 1977.
His career began at a small chemicals and trading firm when he was just 18, but it did not yield success. He faced challenging times in Chandrapur and even had to sleep at railway stations due to financial difficulties. However, he persevered and continued working hard. During this time, he met Abdul Sattar Allah Bhai who possessed an explosives license but had no interest in operating a business using those resources.
Satyanarayan Nuwal saw an opportunity and in 1970, he started renting explosive magazines. Soon he started making profits by supplying ammunition to customers in need, particularly for coal mines. His business grew and he became one of the prominent explosives dealers in India.
In 1995, Satyanarayan Nuwal established Solar Industries with its headquarters in Nagpur. Initially, the company supplied explosives to publicly owned coal mines. Today, Solar Industries operates in 65 different countries, catering to a global clientele and continues to be headquartered in Nagpur.