Solar Group
Solar Industries India Limited is a publicly listed Indian manufacturer of industrial explosives and defence ammunition, operating 20+ plants in India and 6 international facilities across 90+ countries. It serves mining, quarrying, construction, and defence customers through direct enterprise sales.
- Company typePublic
- Founded1995
- HeadquartersNagpur, India
- Headcount1,001–5,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What Solar Group does
Solar Group, operating as Solar Industries India Limited, is a publicly listed Indian manufacturer of industrial explosives and defence ammunition founded in 1995 and headquartered in India. The company operates 20+ manufacturing units across nine Indian states — including Rajasthan, Madhya Pradesh, Maharashtra, Chhattisgarh, West Bengal, Jharkhand, Odisha, Telangana, and Andhra Pradesh — and six international production facilities in Turkey, Zambia, South Africa, Australia, Ghana, and Tanzania, serving customers in 90+ countries. Its product portfolio is organized into two core lines: Industrial Explosives (complete blasting solutions for mining, quarries, construction, seismic exploration, tunnelling, and hydro projects) and Defence (next-generation ammunition and explosive devices developed through internal R&D).
The company's technology base centers on explosive device and ammunition manufacturing, with proprietary capabilities in next-generation explosives and emulsion explosives (the latter housed in subsidiary Emul Tek Private Limited). It holds Green Channel Certification from India's Ministry of Defence, providing expedited procurement clearance for ammunition supply. Three wholly-owned operating subsidiaries — Economic Explosives, Emul Tek Private Limited, and Economic Explosives India — segment production across explosive types. R&D expenditure of ₹37.48 Crore over five years and CSR spending of ₹46.37 Crore over five years support technical and operational positioning.
Solar Group operates an enterprise field sales go-to-market model targeting large industrial and defence customers through direct sales teams. With 200+ customers reporting decade-long relationships and an order book of ₹2,650 Crore, revenue is generated through individually negotiated B2B contracts for industrial explosives sales and defence ammunition supply. The company is publicly listed with a market capitalization of ₹1,00,000 Crore as of 31 March 2024, though specific annual revenue figures are not disclosed in the available data. No AI/ML capabilities, app presence, or named customer logos are documented in the input.
Solar Group firmographics
Firmographics- Name
- Solar Group
- Legal name
- Solar Industries India Limited
- Website
- https://solargroup.com
- Company type
- Public
- Founded year
- 1995
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Solar Industries India Limited is a publicly listed Indian manufacturer of industrial explosives and defence ammunition, operating 20+ plants in India and 6 international facilities across 90+ countries. It serves mining, quarrying, construction, and defence customers through direct enterprise sales.
- Ownership category
- akta.pro rank
Solar Group industry classification
Industry- Product category
- Industrial Explosives & Defence Ammunition
- NAICS
- Explosives Manufacturing (32592), Guided Missile and Space Vehicle Manufacturing (336414)
- SIC
- Ordnance & Accessories, (No Vehicles/Guided Missiles) (3480)
- akta.pro primary industry
- Military-Grade Explosives & Energetic Materials (IMAEALAE)
Keywords
Where Solar Group is headquartered
LocationHeadquarters
- HQ city
- Nagpur
- HQ country
- India
- HQ region
- Asia
Offices26 records
Markets served
Solar Group business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Industrial Explosives Sales: Sale of industrial explosives and related products to mining, quarrying, construction, and infrastructure companies
- Defence Ammunition Supply: Supply of ammunition and explosive devices to defence sector, with Green Channel Certified status for streamlined government procurement
Go-to-market motion1 record
Distribution channels1 record
Marketing channels2 records
Solar Group product offering
Product offeringCore offering
Solar Group manufactures and supplies industrial explosives and defence ammunition. Its Industrial Explosives line provides complete blasting solutions for mining, quarries, construction, seismic exploration, tunnelling, and hydro projects, while its Defence line delivers next-generation ammunition and explosive devices for military applications. The company operates 29 manufacturing units, including 23 in India and 6 international facilities, and holds Green Channel Certification from India's Ministry of Defence.
Product overview
Solar Group operates as a manufacturer of industrial explosives and defence products. The company offers two primary product lines: Industrial Explosives (covering mining, construction, quarries, seismic exploration, tunnelling, and hydro projects) and Defence (ammunition and explosive devices for military applications). The portfolio centers on complete blasting solutions and next-generation explosive devices developed through technical expertise and R&D investment of ₹37.48 Crore over five years.
Differentiator
Problem solved
Functional benefit
Products and services
- Industrial Explosives Industrial explosive products and complete blasting solutions for mining, construction, quarries, seismic exploration, tunnelling, and hydro projects. Designed for industrial customers requiring efficient blasting for extraction, excavation, controlled demolition, rock fragmentation, and large-scale earthworks.
- Defence Ammunition and Explosive Devices Defence ammunition and explosive devices developed with technical prowess and deep domain expertise for next-generation military applications. Green Channel Certified by India's Ministry of Defence, enabling streamlined government defence procurement.
Quantifiable outcome
- Orders Booked: ₹2,650 Crore
- +2 more outcomes
Companies that use Solar Group
Customer profileSegments6 records
Ideal customer profiles3 records
Solar Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Solar Group partnerships and signals
Strategic signalScale indicators8 records
Recent moves5 records
Expansion highlights5 records
Solar Group competitors and assessment
Company assessmentDirect peers
- MAXAM: Spanish-headquartered global manufacturer of civil explosives, defence, and energetics. Closely comparable across both Solar's industrial explosives and defence ammunition product lines.
- Dyno Nobel: Global industrial explosives manufacturer serving mining, quarrying, and construction. Directly comparable product portfolio and customer base to Solar Industries' industrial explosives business.
- ENAEX: Chile-based global mining explosives and blasting services company. Comparable as a vertically integrated supplier to large-scale mining customers, particularly in South America where Solar also operates.
- EPC Groupe: France-based explosives manufacturer serving mining, quarrying, and civil engineering. Comparable as a European-headquartered industrial explosives producer with international operations.
- BME (a member of the Omnia Group): South African manufacturer of explosives and blasting services for mining. Directly comparable in mining-focused explosives supply, particularly relevant given Solar's South African manufacturing presence.
- Orica: Australian-listed global leader in commercial explosives and blasting systems for mining, quarrying, and infrastructure. Directly comparable as a worldwide industrial explosives and services competitor with overlapping end markets in mining and tunnelling.
- Austin Powder: Privately held US-based manufacturer of industrial explosives and blasting services. Closely comparable in product mix and end-market exposure to mining, quarrying, and construction.
Broad incumbents
- Hanwha Defense: South Korean defence prime with ammunition and energetics product lines. Comparable as a defence ammunition manufacturer competing in adjacent Asian markets.
- Nammo: Norwegian/Finnish defence conglomerate producing ammunition, rocket motors, and military energetics. Comparable on the defence ammunition side of Solar's business, though broader and more defence-focused.
- Rheinmetall Defence: German defence group with significant ammunition and propellant charges product lines. Comparable as an established global defence player with overlapping energetic materials capabilities, though much broader in scope.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Solar Group compliance and trust
Trust signalCompliance1 record
Solar Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Solar Group leadership team
Management profileNumber of profiles
Solar Group subsidiaries and ownership
Company hierarchySubsidiaries3 records
Solar Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Solar Group M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Solar Group
What does Solar Group do?
Solar Group manufactures and supplies industrial explosives and defence ammunition. Its Industrial Explosives line provides complete blasting solutions for mining, quarries, construction, seismic exploration, tunnelling, and hydro projects, while its Defence line delivers next-generation ammunition and explosive devices for military applications. The company operates 29 manufacturing units, including 23 in India and 6 international facilities, and holds Green Channel Certification from India's Ministry of Defence.
Is Solar Group a public or private company?
Solar Group is a public company. It is classified as public and is currently operating.
When was Solar Group founded?
Solar Group was founded in 1995. It employs 1,001 to 5,000 people.
Where is Solar Group based?
Solar Group is headquartered in Nagpur, India, in the Asia region.
How does Solar Group make money?
Two revenue lines are on record. Industrial Explosives Sales are the primary driver. The others are defence Ammunition Supply.
Who are Solar Group's main competitors?
Direct peers on record are MAXAM, Dyno Nobel, ENAEX, EPC Groupe, BME (a member of the Omnia Group), Orica and Austin Powder. Broad incumbents are Hanwha Defense, Nammo and Rheinmetall Defence.
Does Solar Group have an API?
No public API is recorded for Solar Group.
What industry is Solar Group in?
Solar Group's product category is Industrial Explosives & Defence Ammunition. Its primary akta.pro industry code is IMAEALAE, Military-Grade Explosives & Energetic Materials. Its NAICS code is 32592 and its SIC code is 3480.