Exclusive Interview with : Nilesh Panpaliya, CFO of Solar Industries India Limited
Updated on: 14 Jun 2016
Nilesh Panpaliya, CFO, Solar Industries India Limited is currently employed as CFO of Solar Industries India Limited. He has been with the company for over 11 years. His educational qualification includes BE Electronics and MMS in Finance. He has an overall experience of 20 years in the field of Finance. He has previously dealt with industrial Finance, merchant banking and management consultancy services.
Solar Industries India Limited was founded in 1995 by its founder Chairman Shri Satyanarayan Nandlal Nuwal to produce cartridge explosives. It has grown to become India's largest manufacturer of Industrial explosives and Explosive initiating systems and spreading its presence to Global Markets. The company offers high-quality products and services that are backed by stringent safety standards, a robust infrastructure, and a proven quality management system. Solar's manufacturing facilities span 17 locations across India along with 3 manufacturing units outside India.
Replying to Yash Ved of IIFL, Nilesh Panpaliya "The planned capex for this year is Rs. 200 Crores. We have allocated Rs. 50 Crores each to bulk explosives, cartridge & detonators, overseas expansion and defense." Brief us about the plans for bulk explosives division business?
Presently, we have 17 bulk Explosives plants in the country with license capacity of 3, 01,323 MT.
Envisaging the huge demand in the bulk explosives market on account of Coal India Limited, Private sector mining, Infrastructure and Housing, we are planing for sizeable expansion of capacities in this sector. The rising overburden in coal india as the mines get deeper and deeper will aid in increasing the demand for explosives. Along with setting up manufacturing facilities in new geographies, we would also be expanding the capacities of our existing plants.
Any plans to establish a manufacturing facility in Europe?