NSE Symbol: | BSE Code: | ISIN: | Sector:
- Add to Portfolio
- Add to Watchlist
- Add to Alert
Solar Explosives, a Solar group company was incorporated on February 24, 1995 by Satyanarayan Nuwal, Nandlal Nuwal and Kailashchandra Nuwal. The journey of ?óÔé¼?ôSolar?óÔé¼?Ø Group started in the year 1984 when a proprietary firm Solar Explosives was formed by 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. The name of Solar Explosives Limited got changed to Solar Industries India Limited and the trading symbol of the Company on NSE was changed from SOLAREX to SOLARINDS with effect from April 13, 2009.
The Solar group has a two decade reputation in the explosives industry, starting out as a trading organisation it soon became the nation's biggest explosives trading entity. The Solar Group has a licensed & installed capacity of 175, 000 MT of Explosives, 140 million Detonators & 20 million meters of Detonating fuse.
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 companies.
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. In the year 2000 the promoters under Solar Capitals Limited started manufacturing of Bulk Explosives.
In September 2005, Solar Explosives 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.
The manufacturing facility of the company is located at Village Chakdoh, 37 kms from Nagpur and is spread over an area of 150 acres. This ISO 9001 certified facility with a licensed capacity of 80,000 TPA of all kinds of explosives is the largest manufacturer of packaged explosives in India.
?óÔé¼?ó 1984– Solar Explosives started trading of Explosives and Accessories at Chandrapur and received consignment agency from leading manufacturing company.
?óÔé¼?ó 1985–Established Economic Explosives at Sholapur for trading of Explosives and Accessories made by various companies.
?óÔé¼?ó 1996 –Solar Explosives started production with License capacity of 6000MT.
?óÔé¼?ó 1997 –Incorporation and Commencement of Solar Component Private Limited.
?óÔé¼?ó 1998– Economic Explosives Limited started production with License capacity of 30 Mn.Nos Detonators.
?óÔé¼?ó 2000– Started Bulk Plant of Solar Capitals Limited in Waidhan with capacity 6000MT.
?óÔé¼?ó 2001– Imported first Kartridge Pack Machine from USA for cartridge Explosives.–Started Bulk Plant of Solar Capitals Limited in Chandrapur with capacity of 7750MT.–Introduction of PETN in Solar Explosives Limited.–Introduction of Cast Boasters in Solar Explosives Limited.–Executed the first export order of Solar Explosives Limited.
?óÔé¼?ó 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.
Products manufactured by the company :
The company is one of the largest manufacturers and suppliers of Explosives and Explosive Accessories in India covering the entire range of products such as Bulk and Cartridge Explosives, Detonators, Detonating Cords, Pentaerythritol Tetranitrate (?óÔé¼?ôPETN?óÔé¼?Ø), and Cast Boosters. It has manufacturing facilities strategically located in and around Nagpur spread over a total area of 350 acres. Four out of six of our Explosive manufacturing units are ISO 9001 certified by Det Norske Veritas (DNV) of Netherlands.
The company supplies its products to major public and private sector companies like Coal India Limited and its subsidiaries, Steel Authority of India Limited, Singareni Collieries Company Limited, Hindustan Zinc Limited. We also supply to various national hydroelectric projects, cement industry, infrastructure and construction sector, Border Roads Organization etc.
Its products are also exported to countries like Indonesia, Malaysia, Sri Lanka, Oman, Jordan, Syria, Lebanon, Ethiopia, Kenya, Uganda, Tanzania, and Nigeria.
?óÔé¼?ó Economic Explosives Limited–Solar Group forayed into manufacturing of Explosive initiating systems by setting up of Economic Explosives Limited (EEL) at village Sawanga 40 kms. from Nagpur, on a 165 acres of sprawling industrial plot. The entire range of instantaneous and delay detonators along with permissible detonators and specialized systems like non–electric shock tube initiating system and cord relays are manufactured at this facility.EEL has become a 100% owned subsidiary of Solar Explosives Limited with effect from September 25,2005 subsequent to a share purchase agreement between the promoters of EEL and Solar Explosives Limited.Company has got an ISO 9001 certification for its activities since 1999.Date of Incorporation : August 16, 1995
?óÔé¼?ó Solar Capitals Limited–Solar Capitals Limited (SCL) an independent company was formed as a dedicated, on–site manufacturing facility for bulk Explosives for customers. Currently the company has modern and advanced bulk Explosive plants at Singrauli (Madhya Pradesh), Chandrapur (Maharashtra) and Korba (Chhatisgarh).The system is based on plant manufacturing of the Emulsion Matrix, which is non–Explosive. This guarantees complete quality assurance and tailor–made product to suit varying geo–mining conditions for best efficiency and performance. The tailor–made Matrix is then transferred to the BDSs and carried to the mine bench for down–the–hole charging.SCL has become a 100% owned subsidiary of Solar Explosives Limited with effect from September 25, 2005 subsequent to a share purchase agreement between the promoters of SCL and Solar Explosives LimitedDate of Incorporation : August 16 1995
?óÔé¼?ó Solar Components Private Limited–Solar Components Private Limited was set up in the year 1998 for manufacturing of Aluminum Tube, Copper Tube and Brass Fuse Head with Capital expenditure of Rs. 1.25 crore. The products manufactured are used for manufacturing of Detonators. The unit is a part of total Backward Integration for manufacture of Detonators.During the last two years company has expanded its manufacturing capacity from 30 Million Per Annum to 90 Million Per Annum. The total Capital Expenditure made by the end of the year 2002–03 was Rs. 2.25 crore.Date of Incorporation : June 13 1997