Nagpur based Solar Industries helps Nuwal family join India's wealthiest
Solar Industries, a company from Nagpur, has helped the Nuwal family join India's wealthiest.
Their 73.1% stake is now worth nearly ₹1.2 lakh crore, after the company's value soared to ₹1.6 lakh crore, mostly thanks to smart moves into defense and explosives manufacturing.
Since jumping into the defense sector in 2010, that part of the business now brings in four times more revenue than before.
Fiscal 2026 revenue ₹10000cr profit ₹1800cr
Solar Industries started out as a small explosives trading business in the early 1990s and is now one of India's largest packaged explosives makers.
In fiscal 2026 alone, they pulled in nearly ₹10,000 crore in revenue and around ₹1,800 crore profit.
By expanding into defense and aerospace, they've not only grown fast but also made sure their business isn't just riding market ups and downs, turning both the company and the Nuwal family into major success stories.