SBL Energy fuels growth with technology, global expansion
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Mumbai: SBL Energy, which began operations in 1998 and is located near Nagpur, has emerged as the second-largest player in India’s industrial explosives segment, with around a 10 per cent market share. The company serves key sectors such as mining, infrastructure and defence, catering to clients across more than 20 countries.
In February 2024, the company raised Rs 325 crore in growth capital from Synergy Capital, India SME Investments and Mukul Agrawal. The funds are being deployed to scale up manufacturing capacity and support the launch of new products.
SBL Energy had secured its seed funding through private equity investment and has since grown steadily. Today, the organisation employs around 1,600 professionals across manufacturing, engineering, research, operations and corporate functions, making it a significant employment generator in central India.
Speaking to Bizz Buzz,Alok Choudhari, CEO, SBL Energy, said, “The company aims to establish itself as a global leader in industrial explosives and the defence sector, backed by technology-driven capabilities and world-class manufacturing standards.” The company’s revenue portfolio is supported by a diversified base of marquee clients, including international customers as well as leading Indian institutional and private-sector buyers. This diversity helps ensure a stable and sustainable revenue model, while reducing dependence on any single geography or sector.
Over the next few years, SBL Energy’s strategic roadmap is anchored on three key pillars.
The first is technology adoption, with a focus on advanced digital systems, automation of critical stages in the blasting cycle, data-driven fragmentation analysis, and the integration of IoT-enabled tools. The company is also exploring safer initiation technologies using next-generation electronic and non-electric detonators.
The second pillar is market expansion. Beyond mining and infrastructure, SBL Energy plans to deepen its presence in adjacent sectors such as cement and hydropower, where controlled blasting solutions are increasingly in demand.
The third pillar focuses on global partnerships. Leveraging capacity from its export-only TNT plant near Nagpur, with an installed capacity of 3,000 TPA, the company aims to expand exports to Europe, the US and Australia. These initiatives are supported by the recently raised capital, which is being channelled into manufacturing scale-up, product innovation and global outreach.
