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Profile

SOLARINDS

In 1955, the company Solar Explosives Limited was being incorporated by Mr.Satyanarayan Nuwal, Nandlal Nuwal, and Kailashchandra Nuwal. Also, the journey of Solar Group began in the year 1984 when Mr.Satyanarayan Nuwal formed a proprietary firm Solar Explosives for trading in Explosives. Within the same year, the largest Indian Explosive manufacturing company awarded its first Consignment agency to Solar Explosives. In 1985, the Economic Explosives, which is another proprietary firm, was also formed at Sholapur for the trading of Explosives and Accessories being made by the other companies. During 1991, it soon became one of the largest dealers of detonators and Explosives manufactured by the other reputed companies. Until 1996, it also established an effective trade network as well as the Institutional market. Moreover, banking on the strong marketing network and manufacturing experience gained in Solar Carbons the Group and entered into the manufacturing of Explosives by incorporating Solar Explosives Limited located at Nagpur in 1996. In 1997, the promoters began manufacturing Detonators under the Economic Explosives Limited. In 1997, the promoters also began the manufacturing of non-Explosive components needed for manufacturing detonators under Solar Components Private Limited. In 2000, the promoters under Solar Capitals Limited began the manufacturing of Bulk Explosives. In September 2005, Solar Explosives Limited also acquired all the shares from the promoters of Economic Explosives Limited, Solar Capitals Limited, and Solar Component Limited by swapping their holding, along with the shares of Solar Explosives Limited to make the three companies its wholly-owned subsidiary.

Some of the Important Events, Milestones, and Achievements:

  • 1984: It started trading of Explosives and Accessories at Chandrapur and also received consignment agency from the leading manufacturing company.
  • 1985: It also established Economic Explosives at Sholapur for the trading of Explosives and Accessories made by various companies.
  • 1996: The Company began production with License the capacity of about 6000MT.
  • 1997: The incorporation and commencement of Solar Component Private Limited.
  • 1998: Also, Economic Explosives Limited commenced its production with a License capacity of about 30 Mn.Nos Detonators.
  • 2000: It started Bulk Plant of Solar Capitals Limited in Waidhan with a capacity of about 6000MT.
  • 2001: It imported the first Kartridge Pack Machine from the USA for cartridge Explosives. It also started the Bulk Plant of Solar Capitals Limited in Chandrapur with a capacity of about 7750MT.
  • 2004: 
  • It imported the first of its kind high-efficiency Cartridge Pack Machine.
  • It introduced PETN in Solar Explosives Limited.
  • Also, the introduction of Cast Boasters in Solar Explosives Limited.
  • It executed the first export order of Solar Explosives Limited.
  • 2005: It started the Production at Solar Capitals Limited Korba with a license of 6000MT.
  • 2009: The Company's name was being changed from Solar Explosives Ltd to Solar Industries India Ltd.
  • 2013: It also recommended the Final Dividend of 60%, i.e., INR 6 per share on equity share of INR 10 each.
  • 2014: It also recommended a Final Dividend of INR 7 per Equity Share.
  • 2015: Both the solar products and services have successfully captured the needs and expectations of its valuable customers in India and overseas.
  • 2016: It bagged an order from Singareni Collieries Company Limited (or SCCL) for the supply of 163911.20 MT Explosives worth INR 443.44 crore for the financial year 2016-17 & 2017-18.
  • 2017: Solar Industries India bagged an INR 1,143-crore contract from Coal India for the supply of bulk explosives.

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