Nilesh Panpaliya, CFO, Solar Industries India
Nilesh Panpaliya is CFO of Solar Industries India Ltd. 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 Ltd is India’s largest manufacturer and exporter of Industrial Explosives and Initiating systems. It has large presence in the global market with footprints in 42 countries. Solar is the only India-based explosives manufacturing company to have its production facilities in Turkey, South Africa, Zambia and Nigeria.
Solar Industries runs the world’s largest packaged explosives manufacturing facility at a single location at Chakdoh, Nagpur.
Replying to IIFL, Nilesh Panpaliya said, “One of the most significant reforms of the government, the GST would indeed be a game changer and will provide a level playing field to manufacturers like us.”
Give us an idea about Solar Industries India’s organic as well as inorganic expansion?
Our expansion plan is a continuous process. We are India’s largest manufacturer and exporter of explosive and initiating System, providing a complete range of industrial explosives. Solar group has evolved from a single site manufacturing Company in 1996 to a globally recognised industrial explosives company having 25 manufacturing facilities domestically and 4 overseas manufacturing facility with a presence in 42 global markets.
Our vision is to emerge as a global leader in the manufacturing of industrial and military explosives and an innovative solution provider with a focus on safety, quality and reliability. We have spent Rs 675.74 crore in capacity expansion in the last 5 years. Capex done by us for 2016-17 was around Rs 195 crore.
This year the construction of our fourth overseas manufacturing facility has been completed in South Africa and the commercial production has also commenced. We are aiming to expand our overseas presence further by increasing our manufacturing facilities from 4 to 10 countries by 2020.
Last year, we set-up facilities to manufacture warhead filling, pyros, ignitors, propellants for our country’s Pinaka Mark-II guided rocket. We are also working on setting up a world-class project for manufacture of bi-modular charge systems and fully integrated rockets which in the long run would help us increase our return on capital employed. We are open for inorganic expansions as well.