What does Solar Industries India do?
Solar Industries India is a Nagpur company that makes industrial explosives for mining and construction and, increasingly, ammunition, rockets and explosives for India’s armed forces 713. It was founded by Satyanarayan Nuwal, who still chairs it, and is run by his son Manish as managing director and CEO 18. The company describes itself as one of the world’s five largest explosives makers and sells in more than 90 countries 10.
What does Solar Industries do?
Its oldest business is commercial explosives: bulk and cartridge explosives, detonators, detonating cord and initiating systems used by coal and metal miners, quarries and infrastructure builders 13. Since entering defence in 2010 it has added HMX explosive, rocket and missile parts, aerial bombs, grenades and loitering munitions 7. It was the first Indian company to design and build weaponised Nagastra loitering munitions, now supplied to the Indian Army 7.
In the year to March 2026 it reported record sales of ₹9,838 crore and net profit of ₹1,737 crore 9. Defence brought in ₹2,634 crore, about 27% of revenue, and international sales ₹3,815 crore, while domestic explosives grew only about 2% 10. In April-June 2026 revenue rose 70% to ₹3,668 crore, the order book reached ₹21,350 crore and the company guided for ₹14,000 crore of revenue in 2026-27 6.
Who owns Solar Industries?
The Nuwal family holds about 73.15% of the shares, split between two branches: Satyanarayan Nuwal’s side, led by Manish, and the side of his brother Kailashchandra Nuwal 3. The brothers have been in dispute since 2020 1. See who owns Solar Industries.
How did Solar Industries start?
Satyanarayan Nuwal began by trading explosives made by other companies near the coal mines of Chandrapur district, became a consignment agent for ICI in 1984 and set up Solar’s first plant in 1995 with a ₹60 lakh State Bank of India loan 4717. The company listed in 2006 17. See the history of Solar Industries.
The Omnia deal
On 14 September 2026 a Solar subsidiary agreed to buy South Africa’s Omnia Holdings, a mining and agricultural chemicals group with about $1.41 billion of revenue, for about $1.355 billion (₹12,951 crore) in cash 11. Completion is expected in early to mid-2027, subject to competition approvals, and Omnia would be delisted 11. Solar’s shares fell 13.6% after the announcement on concerns about the debt needed to fund it 12. See Solar’s acquisitions.
Safety
An explosion at the group’s Bazargaon plant near Nagpur on 17 December 2023 killed nine workers 16.
See also manufacturing and industrials and all companies.
