In India, the ranks of the affluent are swelling, including those who have made remarkable journeys from humble beginnings. A shining example is 73-year-old billionaire, Satynarayan Nuwal, whose story is both inspiring and captivating. Today, Nuwal stands among India's wealthiest, having completed only 10th grade and spent many nights at railway stations. However, his business now extends to 65 countries worldwide. Let’s explore his incredible journey...
73 Years Old with a Net Worth of ₹46,000Cr
A glance at Forbes' Real-Time Billionaires Index reveals Satynarayan Nuwal among India’s richest. As the founder and chairman of Solar Industries, his net worth soars at $5.2 billion (approximately ₹46,500 crores). In the defense sector, his company, Solar Industries, became the first private Indian firm to secure a government license for manufacturing explosives. Currently, the company’s market capitalization is over ₹1.08 lakh crores. Last Friday, Solar Industries’ shares closed with a 1.43% increase, setting at ₹11,940.
Source: aajtak
Education Up to 10th Grade, Married Young
The richness that today defines Nuwal's life is the result of sheer perseverance. Born into a modest family in Bhilwara, Rajasthan, Satynarayan's path was fraught with challenges. Financial constraints prevented him from further education post-10th grade, and being married at 19 added responsibilities early on. Nevertheless, Nuwal cultivated an unwavering spirit against adversity, never losing confidence during his moments of trial.
Leaving Home: Nights Spent at Railway Stations
Determined to support his family financially, Nuwal decided to leave home. This daring decision marked the beginning of his rags-to-riches story. In an interview, he recalled the early years devoid of money for accommodation, leading to nights spent on railway platforms. Despite hopping from one small venture to another, including ink production for pens and transportation, success seemed elusive.
Source: aajtak
A Fortunate Encounter That Changed Everything
In 1976-1977, after trying various trades, Nuwal relocated to Chandrapur, Maharashtra, to work with a relative. There he met Abdul Sattar Allah Bhai, the owner of an explosives license and powder depot. Nuwal's recollections detail how he rented the depot for ₹1,000 per month, a struggle on a paltry income. Yet, Abdul Sattar offered leniency, advising, ‘Do not worry, pay every three months.’
As time passed, Nuwal’s business began thriving. Orders from coal mines poured in and by 1984, his role expanded to a consignment agent, evolving into a major explosives dealer by the 1990s.
A Leap of Faith: Launching His Company on Loan
The 1990s were pivotal for Nuwal, marking the inception of his own company in 1995 with a ₹6 million bank loan. Following license acquisition, his venture flourished, with assets rising accordingly. By 2006, Solar Industries opted to go public, boasting revenues near ₹78 crore. By 2010, it had captured the distinction of India’s first private licensee for defense explosives production.
