India's Richest People 2026 edition · 1 director · Source: Hurun India
- #28 Satyanarayan Nuwal & family ₹84,300 Cr
Revenue · FY 2025
₹1,151.13 Cr
▲ 24% YoY
Net profit · FY 2025
₹195.83 Cr
Net margin 17%
EBITDA · FY 2025
₹327.51 Cr
EBITDA margin 28.5%
Authorised capital
₹6.6 Cr
Registered with MCA
Paid-up capital
₹4.8 Cr
Issued & subscribed
Open charges
₹1,686.17 Cr
Satisfied ₹264.21 Cr
Company age
31 yrs
Est. 1995
Employees · EPFO
1,802
Provident fund records
About Solar Defence and Aerospace Limited
Data last updated:
Solar Defence and Aerospace Limited is a public limited company based in Nagpur, Maharashtra, India, a subsidiary of Solar Industries India Limited. It operates in the defence accessories and components segment of the aerospace, maritime and defence sector. It was incorporated on 16 August 1995 and has been in existence for over 31 years.
Its director Satyanarayan Nuwal and family are #28 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Nagpur, under CIN U24292MH1995PLC091808. Its GSTIN is 27AAACE3871C1ZX (Maharashtra). The company holds 7 GST registrations, of which 4 are active.
The company has an authorised share capital of ₹6.6 Cr and a paid-up capital of ₹4.8 Cr. It is led by directors including Manish Satyanarayan Nuwal (Whole-Time Director) and Satyanarayan Nandlal Nuwal (Whole-Time Director).
Its last annual general meeting (AGM) was held on 07 August 2026, and its latest financial statements are for the year ended 31 March 2026. The registered office is at 11 Zade Layout Bharat, Nagpur, Maharashtra, India – 440033.
As per the financials filed for FY 2025, the company reported a revenue of ₹1,151.13 Cr, a growth of 24% compared to the previous year. For the same year it recorded a net profit of ₹195.83 Cr (net margin 17%) and EBITDA of ₹327.51 Cr (EBITDA margin 28.5%). Revenue has grown at a compounded annual rate (CAGR) of 12% over three years and 22% over five years.
The company has about 1,802 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Solar Group. As per MCA filings, the company has open charges of ₹1,686.17 Cr and satisfied charges of ₹264.21 Cr on record. Court records list 26 cases involving the company, including 4 filed by the company and 22 filed against it; 5 cases are pending.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website solargroup.com.
Company details
CIN U24292MH1995PLC091808
Registration Number 091808
Incorporation Date 16 August 1995
ROC Nagpur
Listing Status Unlisted
Company Status Active
Date of Last AGM 07 August 2026
Date of Balance Sheet 31 March 2026
Parent Company Solar Industries India Limited
Compliance Status Active Compliant
CIN history
Solar Defence and Aerospace has one previous CIN (Corporate Identification Number): U24292MH2004PTC091808. The current CIN is U24292MH1995PLC091808, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U24292MH1995PLC091808 | Current |
| U24292MH2004PTC091808 | Previous |
Key People
Manish Satyanarayan Nuwal Whole-Time Director Satyanarayan Nandlal Nuwal Whole-Time Director Natrajan Ramkrishna Director Recognitions & Rankings of Solar Defence and Aerospace
Contact details
Solar Defence and Aerospace Limited's registered office is in Nagpur, Maharashtra. Its website is solargroup.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Apps
- Registered Address11 Zade Layout Bharat, Nagpur, Maharashtra, India – 440033
- IndustryAerospace, Maritime and Defense, Defence Accessories & Components
To see the full contact details of Solar Defence and Aerospace Limited, buy the company report.
Comprehensive company report
Solar Defence and Aerospace Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
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Brands
Solar Defence and Aerospace operates one associated brand: Solar Group. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Defense and industrial explosives are manufactured for various sectors. | solargroup.com |
Business activity
The main business activity of Solar Defence and Aerospace is manufacturing. In detail, this covers other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C13 | Other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities |
To see the full business activity and turnover split of Solar Defence and Aerospace Limited, buy the company report.
Financials of Solar Defence and Aerospace Limited
FY 2026 filings availableSolar Defence and Aerospace Limited reported revenue of ₹1,151.13 Cr (up 24% YoY) for FY 2025.
Revenue · FY 2025
₹1,151.13 Cr ▲ 24%
Net profit · FY 2025
₹195.83 Cr margin 17%
EBITDA · FY 2025
₹327.51 Cr margin 28.5%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 24%
3 years · compounded
▲ 12%
5 years · compounded
▲ 22%
EBITDA CAGR growth
1 year
▲ 29%
3 years · compounded
▲ 9%
5 years · compounded
▲ 23%
Revenue has grown at a compounded annual rate (CAGR) of 22% over five years, including 24% growth in the latest year. EBITDA rose 29% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹1,151.13 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹327.51 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹195.83 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
| Total Liabilities | |||||
| Fixed Assets | |||||
| Investments | |||||
| Inventories | |||||
| Trade Receivables | |||||
| Cash and Bank Balance | |||||
| Total Assets | |||||
Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 28.5% | ||||
| Net Profit Margin | 17% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
| Debt-to-Equity Ratio | |||||
| Interest Coverage Ratio | |||||
| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Solar Defence and Aerospace Limited, buy the company report.
Board of directors of Solar Defence and Aerospace Limited
Solar Defence and Aerospace has 6 current directors and 17 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Manish Satyanarayan Nuwal Also directs: MSN Estate Ventures LLP, MSN Nextech Ventures LLP, MSN Ventures Global Enterprises LLP and 5 more | Whole-Time Director | 01 Sep 2008 | 18 Years 2 Months | Current |
| Satyanarayan Nandlal Nuwal Also directs: Solar Industries India Limited, MSN Nexgen Solutions Limited, Nagpur Infrastructures Private Limited and 2 more | Whole-Time Director | 16 Aug 1995 | 31 Years 2 Months | Current |
| Natrajan Ramkrishna | Director | 03 Mar 2023 | 3 Years 8 Months | Current |
| Rashmi Prasad | Director | 20 May 2025 | 1 Years 5 Months | Current |
| Brijesh Vashishta Also directs: IIT Ropar Defence Research and Innovation Foundation | Director | 01 Aug 2026 | 0 Years 3 Months | Current |
| Pawan Kumar Bhageria Also directs: Alphamers Limited | Director | 06 May 2026 | 0 Years 6 Months | Current |
Auditor
Solar Defence and Aerospace Limited is audited by Akshay Rathi & Associates for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Akshay Rathi & Associates | FY 2022 | 139703W |
Shareholding
The shareholding of Solar Defence and Aerospace Limited is on record for 5 financial years, the latest being FY 2024, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Solar Defence and Aerospace Limited, buy the company report.
Charges & borrowings
Open charges
₹1,686.17 Cr
Satisfied charges
₹264.21 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 14 Aug 2019 | 100282342 | Idbi Trusteeship Services Limited | ₹1,686.17 Cr | Open | |
| 24 Mar 2014 | 10485310 | State Bank of India | ₹61 Cr | Satisfied | |
| 27 Jan 2012 | 10332943 | State Bank of India | ₹46.01 Cr | Satisfied | |
| 31 Aug 2006 | 10026774 | State Bank of India | ₹95.3 Cr | Satisfied | |
| 03 Sep 2002 | 90160551 | State Bank of India | ₹60.07 Cr | Satisfied |
To see the full charge records of Solar Defence and Aerospace Limited, buy the company report.
Total charge records: 11 View all charges
Legal cases
Solar Defence and Aerospace Limited has 26 court cases on record: 4 filed by Solar Defence and Aerospace, 22 filed against it. 5 cases are pending and 21 are disposed.
Total cases
26
Filed by the company
4
Filed against the company
22
Pending
5
Disposed
21
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 15 | 12 | 3 |
| District courts | 11 | 10 | 2 |
Cases on record (5 of 26)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court | Court case (APOT) | Filed against the company by Coal India Ltd. & Anr. | Disposed |
| High Court for State of Telangana | Writ petition | Filed against the company | Pending |
| District court, Nagpur, Maharashtra | Court case (Civil M.A.) | Filed against the company by an individual | Pending |
| Bombay High Court | Court case (ITL) | Filed against the company by PR. Commissioner of Income Tax -1, Nagpur | Pending |
| District court, Nagpur, Maharashtra | Civil suit | Filed against the company | Pending |
To see the full case history of Solar Defence and Aerospace Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Solar Defence and Aerospace Limited was last rated by Icra on 11 Mar 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Icra | 11 Mar 2022 |
To see the full credit ratings and regulatory alerts of Solar Defence and Aerospace Limited, buy the company report.
MSME payment delays
Solar Defence and Aerospace Limited has 21 MSME Form 1 returns on record between 2016 and 2023, listing 341 overdue payments to 76 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 76)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Hariwansh Packaging Private Limited | |||
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier | |||
| Markem - Imaje India Private Limited |
To see the full MSME payment records of Solar Defence and Aerospace Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Solar Defence and Aerospace Limited has a workforce of 1,802 employees on its EPFO records as of Apr 06, 2024, across 1 active EPFO establishment.
Employee count
1,802
Active EPFO establishments
1
Employee growth
6.38%
GST
Solar Defence and Aerospace has 7 GST registrations: 4 active and 3 cancelled or inactive.
Total GSTINs
7
Active
4
Cancelled / inactive
3
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACE3871C1ZX | Maharashtra | Active | 01 Jul 2017 |
| 27AAACE3871C2ZW | Maharashtra | Active | 06 Jul 2017 |
| 20AAACE3871C1ZB | Jharkhand | Active | 01 Jul 2017 |
| 36AAACE3871C2ZX | Telangana | Active | 31 Mar 2022 |
To see the full GST registrations and return filing status of Solar Defence and Aerospace Limited, buy the company report.
Recent activity
Solar Defence and Aerospace Limited has 23 board changes on record since 1995: 6 appointments and 17 cessations. The latest: Brijesh Vashishta was appointed as Director on 01 Aug 2026.
AGM
Solar Defence And Aerospace Limited last Annual general meeting of members was held on 07 Aug 2026 as per latest MCA records.
Appointed
Brijesh Vashishta was appointed as Director.
Appointed
Pawan Kumar Bhageria was appointed as Director.
Filing
Solar Defence And Aerospace Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Nagpur.
Appointed
Rashmi Prasad was appointed as Director.
Charges
A charge with Idbi Trusteeship Services Limited of Rs. 1,686.17 Cr registered on 14 Aug 2019 with Charge ID 100282342 was modified on 14 May 2025.
Ceased
Manish Satyanarayan Nuwal ceased to be Director.
Ceased
Vasudhesh Arya ceased to be Additional Director.
Ceased
Natrajh Ramakrishna ceased to be Additional Director.
Appointed
Natrajan Ramkrishna was appointed as Director.
Ceased
Kailash Chandra Nuwal ceased to be Director.
Ceased
Satyanarayan Nandlal Nuwal ceased to be Director.
42 earlier events are in the company report.
News
Frequently asked questions
Solar Defence and Aerospace is an active public limited company based in Nagpur, Maharashtra, India. The company works in defence accessories and components, within the aerospace, maritime and defense industry. It was incorporated on 16 August 1995 (31+ years old) and is registered under CIN U24292MH1995PLC091808.
Solar Defence and Aerospace has 6 current directors:
- Manish Satyanarayan Nuwal - Whole-Time Director
- Satyanarayan Nandlal Nuwal - Whole-Time Director
- Natrajan Ramkrishna - Director
- Rashmi Prasad - Director
- Brijesh Vashishta - Director
- Pawan Kumar Bhageria - Director
The latest financial statements of Solar Defence and Aerospace on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 07 August 2026. Year-wise statements from 2015 are in the company report.
The GSTIN of Solar Defence and Aerospace is 27AAACE3871C1ZX, registered in Maharashtra. The company has 7 GST registrations in all, of which 4 are active and 3 are cancelled or inactive. Other active GSTINs include 27AAACE3871C2ZW (Maharashtra), 20AAACE3871C1ZB (Jharkhand), 36AAACE3871C2ZX (Telangana).
The CIN (Corporate Identification Number) of Solar Defence and Aerospace is U24292MH1995PLC091808. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Solar Defence and Aerospace has 26 court cases on record: 4 filed by the company and 22 filed against it. 5 are pending. Most are in the high courts.
Solar Defence and Aerospace was incorporated on 16 August 1995, making it 31+ years old. It is registered with the Registrar of Companies, Nagpur.
Brijesh Vashishta was appointed as Director on 01 Aug 2026. Pawan Kumar Bhageria was appointed as Director on 06 May 2026. Rashmi Prasad was appointed as Director on 20 May 2025. Solar Defence and Aerospace has 23 board changes on record in total.
Solar Defence and Aerospace has 21 MSME Form 1 returns on record between 2016 and 2023, listing 341 overdue payments to 76 micro and small suppliers. The latest return was filed on 07 Nov 2023.
Solar Defence and Aerospace can be reached through the website solargroup.com. Its registered office is in Nagpur, Maharashtra, India.
The registered office of Solar Defence and Aerospace is at 11 Zade Layout Bharat, Nagpur, Maharashtra, India – 440033.
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