Hard work and passion are often the key ingredients that lead to success; these are common features in all the success stories we have witnessed so far. One such person whose success story is quite interesting is Satyanarayan Nuwal—one of India’s richest individuals today, but with a past that might shock many of our readers. Formally educated only until he was in the 10th grade, he spent his early years sleeping at railway stations. However, today he runs a business that spans over 65 countries. Here’s everything you should know about him.
73 years old, net worth of ₹46,000 crore
As per a recent Forbes list, the 73-year-old Satyanarayan Nuwal is included among the richest people in India. He is the founder and chairman of Solar Industries. His net worth is $5.2 billion (more than ₹46,500 crore). A big name in the defence sector, his company, Solar Industries, was the first Indian company to receive a government license to manufacture explosives for defence forces. Today, the company’s market capitalization stands at ₹1.08 lakh crore, while Solar Industries’ share closed at ₹211,940 last Friday after a jump of 1.43%.
Studied till 10th standard, married at a young age
Satyanarayan Nuwal’s hard work has made him one of the richest people in the country. Born into a normal family in Bhilwara, Rajasthan, he faced many struggles to reach his position. Due to financial constraints, he could not study after class 10. Married at a young age of 19, the burden of responsibilities kept increasing. He said that even during the days of struggle, he did not lose his confidence and did not get disappointed.
Left home, spent nights at the railway station
To support his family and try his luck in business, he left home. In an old interview with Forbes, he mentioned that when he left home, he could not afford basic living expenses and had to spend nights at the railway station. He tried many businesses, including making ink for fountain pens, leasing businesses, and even a transport business.
How a single meeting changed his life
After trying his hand at many businesses, he went to Chandrapur, Maharashtra, to work with a relative. There, he met Abdul Sattar Allah Bhai, who had an explosives license and owned a gunpowder depot. In his interview, Nuwal said he negotiated a deal to rent the gunpowder depot for ₹1,000 per month, but even that was too much for him at the time. Abdul Sattar Allah Bhai told him, “Don’t worry, son; just pay me once every three months.”
With time, Nuwal’s business took off, and he began receiving significant orders from coal mines. By 1984, he had expanded his business to work as a consignment agent, and by 1990, he had become a major dealer in explosives.
The 1990s became a turning point for him. In 1995, considering his long experience in this sector, Nuwal started his own company. For this, he took a loan of ₹60 lakh from the bank. After obtaining the license, his business continued to grow, and his wealth increased. By 2006, the company decided to get listed on the stock market. By 2010, Solar Industries became the first private company to receive a government license to manufacture explosives for war and weapons for the defence forces of India.
