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Solar Industries India Ltd. Company History and Annual Growth Details

The company "Solar Explosives Limited" was incorporated in the
year 1995 by Mr.Satyanarayan Nuwal, Nandlal Nuwal and
Kailashchandra Nuwal.

The journey of "Solar" Group started in the year 1984 when a proprietary
firm Solar Explosives was formed by Mr.Satyanarayan Nuwal for trading in
Explosives . In this year one of the , then largest Indian Explosive
manufacturing company awarded its first consignment agency to Solar
Explosives. In the year 1985 Economic Explosives another proprietary firm
was formed at Sholapur for trading of Explosives and Accessories made by
companies other companies. During the year 1991, they became one of the
largest dealers of detonators and Explosives manufactured by other reputed

By the year 1996, Solar established an effective trade network as well as
Institutional market.

Banking on strong marketing network and manufacturing experience gained
in Solar Carbons the Group entered into manufacturing of Explosives by
incorporating Solar Explosives Limited at Nagpur in the year 1996. In 1997
the promoters started manufacturing Detonators under Economic Explosives
Limited. Also in 1997 the promoters started manufacturing non Explosive
component required for manufacturing detonators under Solar Components
Private Limited. In the year 2000 the promoters under Solar Capitals Limited
started manufacturing of Bulk Explosives.

In September 2005, Solar Explosives Limited acquired all the shares from
the promoters of Economic Explosives Limited, Solar Capitals Limited and
Solar Component Limited by swapping their holding with the shares of Solar
Explosives Limited to make the three companies its wholly owned subsidiary.

Year Key Events, Milestones and Achievements

1984 Solar Explosives started trading of Explosives and Accessories
at Chandrapur and received consignment agency from leading
manufacturing company.

1985 Established Economic Explosives at Sholapur for trading of Explosives
and Accessories made by various companies.

1996 Solar Explosives Limited started production with License capacity of

1997 Incorporation and Commencement of Solar Component Private Limited.

1998 Economic Explosives Limited started production with License capacity
of 30 Mn.Nos Detonators.

2000 Started Bulk Plant of Solar Capitals Limited in Waidhan with capacity

2001 Imported first Kartridge Pack Machine from USA for cartridge Explosives.
Started Bulk Plant of Solar Capitals Limited in Chandrapur with capacity
of 7750MT.

2004 Imported the first of its kind high efficiency Cartridge Pack Machine
Introduction of PETN in Solar Explosives Limited.
Introduction of Cast Boasters in Solar Explosives Limited.
Executed the first export order of Solar Explosives Limited.

2005 Started Production at Solar Capitals Limited Korba with license of 6000MT.
Product of Solar Explosive Limited well accepted in the Export market
and executed order worth 10 times of the last years order.


-Solar Explosives Ltd has informed that the following Directors have resigned from the Board.

1. Mr. Manish Nuwal (Resigned as Executive Director).

2. Mr. J F Salve (resigned as Independent Director).


-Company name has been changed from Solar Explosives Ltd to Solar Industries India Ltd.


-Solar Industries India has recommended 35% Final Dividend


-Solar Industries has approved the Final Dividend of 40%


-Solar Industries has recommended the Final Dividend of 50%


- The Company has recommended the Final Dividend of 60% i.e. Rs. 6 per share on equity share of Rs. 10 each.


- The Company has recommended a Final Dividend of Rs. 7 per Equity Share.

-Solar products and services have successfully captured the needs and
expectations of its valuable customers in India and abroad

-the Company has bagged an order from Singareni Collieries Company Limited (SCCL) for the supply of 163911.20 MT Explosives worth Rs. 443.44 crore for the financial year 2016-17 and 2017-18.