Archive · 17 Sep 2026
From Explosives Trader to Global Defence Manufacturing Titan
Satyanarayan Nuwal started his business journey by renting a small explosives storage facility in 1979.
He first worked as a trader and later decided that making products could help his company grow.
In 1995, he opened Solar Industries’ first manufacturing plant in Nagpur.
The company began making defence products in 2010.
It later developed items such as rockets, warheads, artillery ammunition and loitering munitions.
Solar Industries now sells products in more than 90 countries.
It has factories in 10 countries and more than 15,000 workers.
Defence products now make up about 27% of its revenue.
Nuwal’s next challenge is managing the company’s larger international and defence operations.
Satyanarayan Nuwal began in 1979 with an explosives storage facility rented for Rs 1,000 a month.
He founded Solar Industries’ first manufacturing unit in Nagpur in 1995 after working as an explosives trader.
Solar Industries entered defence manufacturing in 2010 and developed products including Pinaka rockets and Nagastra loitering munitions.
The company reported FY26 revenue of Rs 9,838 crore and net profit of Rs 1,737 crore, with defence contributing about 27% of revenue.
Solar Industries now operates manufacturing facilities in 10 countries, serves more than 90 nations and has over 15,000 employees.
- Who
- Satyanarayan Nuwal and Solar Industries India.
- What
- Nuwal transformed a small explosives-trading venture into an international explosives and defence-manufacturing enterprise.
- When
- The business began in 1979; Solar Industries entered defence manufacturing in 2010; the article reports financial results for FY26.
- Where
- The venture began in India, with its first manufacturing unit in Nagpur, Maharashtra, and now has facilities in 10 countries.
- Why
- Nuwal pursued manufacturing, defence products and international expansion to grow the business and develop capabilities in areas traditionally dependent on imports.
- Founder
- Satyanarayan Nuwal
- Business founded
- 1979, through a rented explosives storage facility
- First manufacturing unit
- Established in Nagpur in 1995
- Defence entry
- Solar Industries entered defence manufacturing in 2010
- FY26 revenue
- Rs 9,838 crore
- FY26 net profit
- Rs 1,737 crore
- Defence order book
- Rs 17,794 crore at the end of March 2026
- International reach
- Manufacturing facilities in 10 countries and products reaching more than 90 nations