Depth bar (mandatory): Process-strong foundry, Band A possible on cluster. Target 2,500–4,000 words. Exhaustive 1.1–6.3. Use [~] for estimates, [dir] for directories, [!] for unverified. Never invent bills, court outcomes, or personal emails. Palwal is still Haryana DHBVN.

1. Company overview & snapshot

M M Castings Private Limited (MMC, brand CRUSHMORE) makes high-manganese steel wear parts for stone crushing, mining, quarrying, aggregate and shredding — jaw plates, concaves, mantles, blow bars, wedges. The commercial story is export-heavy OEM and aftermarket, not a Faridabad auto-component job shop. For Stamped, the relevant physics is induction melt + heavy machine shop + compressors on DHBVN, with gas-fired PLC heat treatment that must be kept honest: HT is fuel, not an electric Yaskawa story.

Two Haryana sites matter: Faridabad Sector 59 / Jharsaintly–Jajru Road (the visit gate) and Palwal, Dudhola Road, Prithla (HSPCB-registered melt/HT campus). Both are DHBVN. Delhi ROC / Badarpur is not the mill.

1.1 Legal identity & corporate structure

CARE Ratings (Jan 2023, facilities ₹43 Cr, CARE BBB+; Stable / CARE A2 at that date — stale; do not quote as current rating without a refresh) described promoter USL ~₹50 Cr and four plants in/around Ballabgarh. Brand in CARE text: “MMC Crusher More”; website now CRUSHMORE™, ASTM A128 Mn alloy.

Do not confuse with M M Cast (Ahmedabad valves) or other Mittal foundries.

1.2 What they make & where money comes from

Product: High-Mn wear parts, 80 lb to 8,000 lb finished (CARE), website up to 6,500 kg pour. Alloy: C-Mn-Cr plus “life enhancing additives”; Mn 12–24%, Cr 2–3% [site].

Mix [site]: 60% OEM, 70% export, Three Star Export House, repeated EEPC recognition (LinkedIn posts claim 8th consecutive year [site/LI]). Named customers in CARE 2023: Terex, Falvey Steel Castings, Voltas, Kleemann / Kleeman, Propel. End markets: crusher OEMs and aftermarket globally (USA, UK, Australia, Germany, France in CARE). IndiaMART turnover band ₹100–500 Cr. CARE audited FY22 TOI ₹275.5 Cr (FY21 ₹183.1 Cr); 8MFY23 provisional ₹227.3 Cr with ~76% export in that stub.

Money comes from wear-part programmes with scrap/alloy price risk (CARE: three-month then monthly reset). Energy is a cost line under melt kWh, not the brand. Import: scrap, ferro-alloys, electrodes [~]; CARE import procurement ~11% of RM in FY22.

1.2a Scale, MSME status & trade (mandatory from Aug 2026)

1.3 Plants, addresses & footprint

CARE: manufacturing “spread over 10 acres”; 3 of 4 plants rented from promoters/associates (FY22 rent ~₹2.74 Cr). Confirm which legal name and plot is on each DHBVN invoice before Proof.

Phones: +91 129 3529600 (site), 0129-4199666 / 4199667 (HSPCB), 0129-4150995 [dir]. Emails: info@mmcastings.com (domestic), export1@mmcastings.com (export), anup@mmcastings.com (HSPCB).

Pilot: Faridabad melt + machine-shop HT account first. Palwal only after Faridabad bills, or if Palwal is clearly the larger incomer.

1.4 Leadership & CRM map — three champion types (mandatory)

Rajkumar Shivarathri flag (hard): LinkedIn https://www.linkedin.com/in/rajkumar-shivarathri-b7125391 lists Plant Head, MM Castings, Jun 2015–Present and Plant Head, Martopearl Alloys, Apr 2019–Present and “presently working for Alnaseeb, Dubai.” A second profile https://www.linkedin.com/in/rajkumar-shivarathri-93841b11 also says Plant Head MMC. Company LinkedIn “key executives” scrape still names him. Do not cold-call him as sitting plant head. Confirm at gate.

Ram Narayan — CGM Accounts & Finance, MMC Faridabad since ~2013 · https://www.linkedin.com/in/ram-narayan-72896757 — bill copies, not first technical champion.

Sanjay Mittal: director; LinkedIn not confirmed in this pass. CARE 2023 still named Anup and Balram as operating management — MCA current list is Manoj / Sanjay / Raghav. Use MCA for contracting; use gate for who actually walks the melt deck.

Decision path: Raghav or Manoj yes → electrical / melt supervisor for meters → Ram Narayan for invoices → production veto on pour chemistry.

1.5 Recent news (24 months) & timing for Stamped

• EEPC recognition posts (2025 LinkedIn) — export still the identity.
• EXCON 2025 exhibitor mention (Raghav liked CII post) — demand signal, not a capex filing.
• No FY24/FY25 CARE refresh found in this pass — credit story is 2023.
• Faridabad NGT / HSPCB 2025–26 actions on illegal / non-conforming metal units are regional. MMC not named in the TOI / NGT extracts reviewed. Do not attach those dockets.
• Timing: Sector 59 is on the LNM / Polymed belt. Walk Jharsaintly with two asks: which consumer number covers melt, and Palwal as a separate bill.

2. Energy profile

DISCOM / supply (name early): DHBVN for Faridabad Sector 59 and Palwal Prithla. Palwal is Haryana. Do not write UHBVN or a UP DISCOM.

2.1 Bill band, tariff & demand

No invoice in hand.

Working: ₹12–30 lakh/month [~] Faridabad (induction + HT campus electric remainder + machine shop + compressors). Palwal similar or larger. Cluster may hit ₹30L. Band A possible. Qualify two HT bills. Confidence: Medium.

Induction melting of Mn steel is a classic MD machine: furnace starts, hold, and coincidence with VTL/plano and compressors. Gas HT removes the electric furnace-soak lever that forging shops have. Do not price a 60-Day Proof as if HT were electric.

CARE 2023 noted working-capital intensity and export collection lag — cash is tight in the cycle even when scale is ₹200 Cr+. A honest Band A conversation still needs the bill, not the CARE TOI.

2.2 Generation, fuel & renewables

• HT: gas-fired, PLC automatic [site] — PNG/LPG/FO confirm on visit. Electric remainder: furnace auxiliaries, quench handling, lighting.
• Melt: induction — OEM unnamed. Do not claim Inductotherm unless the nameplate says so.
• Captive MW, rooftop solar, open access: not found. DG backup typical — ask.
• Fuel for melt chemistry (if any oxy/gas assist): unknown.

2.3 EnMS, PAT, ISO, BRSR

• ISO 9001:2015 [site].
• ISO 50001: not found.
• PAT / BRSR: unlisted; not expected. SAP for production/finance/quality [site] ≠ energy management.
• MAGMA + Hexagon/FARO ScanArm = process digital, not feeder analytics.

2.4 Likely ₹ leak categories (hypothesis)

1. Induction start coincidence — two furnaces or furnace + heavy VTL bank in one 15-minute MD window.
2. Hold power on melt while waiting for mould/pour.
3. Compressed air for moulding, fettling, cleaning.
4. Machine shop idle — 20+ VTL, 15+ plano, SPMs left in ready.
5. Sand plant / reclamation motors through gaps.
6. Fettling manipulators and dust extraction left at production setpoint.
7. PF / harmonics on induction.
8. Palwal vs Faridabad billed separately — peak unknown until both invoices.

Gas HT idle is a fuel leak; mention only if they ask, and do not mix it into the DHBVN ₹ case.

3. Operations, equipment & digital stack

3.1 Process flow & critical loads

Pattern (CNC, 2500+ library) → sand mix / matchplate mould → induction melt → pour (to 6,500 kg) → knockout / mechanised riser break → gas HT → automated fettling → machine shop (VTL, plano, SPM) → QA (spectro, microstructure, ScanArm) → dispatch.

Electrical centre: induction + machine shop + air + sand plant. Thermal centre: gas HT. Quality centre: chemistry and HT recipe — untouchable.

3.1a Machine inventory (mandatory from Aug 2026)

3.2 Shifts, seasonality, production pattern

Export foundry: multi-shift melt plausible. Pour windows and HT recipes create batches where utilities stay live. Normalise Proof to poured tonnes, not calendar kWh. Scrap price spikes change utilisation faster than weather.

3.3 Automation, metering, SCADA/EMS/DCS

SAP + PLC on gas HT. Named EMS/SCADA not public. Path B likely: DHBVN MRI/CSV + melt log (heat number, start time) + compressor running hours. Path A only if they already log kW on the induction panel. No PLC writes to HT or melt recipes.

3.4 Capex / tech projects affecting energy

CARE Agwanpur ₹38.82 Cr (2022–23) vs HSPCB Palwal ~₹39 Cr (COD 2018) — two different stories or messy naming. Ask what actually commissioned. Automation of recycling/fettling (CARE) changes kWh/tonne baseline. Do not baseline a Proof across a furnace install.

4. Stamped Energy fit analysis

4.1 ICP scorecard

4.2 Fit score rationale

8/10 process-strong. Induction + machine shop on the Sector 59 belt is exactly the Faridabad visit thesis. Deductions: HT is gas (narrower electric lever), bill unverified, Rajkumar CRM trap, CARE/site capacity contradiction, MSME/TOI qualify, two-site meter map.

4.3 Wedge (parser-critical)

The strongest wedge is: Faridabad DHBVN induction-start coincidence against VTL/plano and compressed-air recovery (gas-fired PLC HT left on the fuel side of the ledger), assigned as a rupee WhatsApp action and kept verified with evidence on Stamped’s stack — one feeder, 60-Day Proof, Palwal as a second meter only after the first bills.

4.4 Objections & competitors

Competitors: induction OEMs, compressed-air vendors, one-shot energy auditors, furnace-lining vendors.

4.5 Pilot design

• Site: Faridabad Sector 59 HT (melt + shop if same incomer).
• Scope: induction MD + compressor/shop idle; 60-Day Proof.
• Success: one owned action, ₹ movement verified with evidence.
• Kill: bills below floor; no melt log; chemistry veto with no alternate lever; insistence that gas HT is in the electric saving claim.

4.6 Concern scores (1–10) and who owns them (mandatory from Aug 2026)

4.7 Pitch sketches (draft — human will refine)

1. P&L / bill (Raghav): Two DHBVN bills — Faridabad and Palwal — and we will tell you which induction start or shop bank owns the peak, with ₹, on WhatsApp, verified with evidence. Gas HT stays in the gas column. 60-Day Proof on one feeder if the band clears. No hardware.

2. Maintenance: Fewer coincident starts and less compressor baseload after the last pour. You execute; we do not write the PLC. Night call-outs on air and extraction are the maintenance sell, not “energy manager.”

3. Production: We will not move pour chemistry or HT soak. We stagger furnace and VTL starts around the pour you already planned. If a card delays a heat, it dies.

5. Before you reach out

Sector 59 foundry next to the auto belt is the point. Palwal is a second DHBVN invoice, not a different state. Do not open with Rajkumar. Do not open with ESG.

5.1 Discovery checklist

• Legal name on each DHBVN bill (MMC vs promoter-rented plot)
• Faridabad vs Palwal vs any Agwanpur meter — three possibilities
• Two HT bills each: ₹, MD, PF, ToD, kVA
• Induction OEM and furnace count / kW
• Gas HT: PNG vs LPG vs FO; not in electric baseline
• Sand plant and compressor on which incomer
• Who is actually plant head this month
• Ram Narayan for bill copies
• Export vs domestic mix this quarter (utilisation)
• Confirm info@mmcastings.com still live

5.2 Do not lead with

• Do not lead with dashboards, AI, or MAGMA-as-energy
• Do not lead with “next DISCOM bill” as hero — verified with evidence
• Do not lead with Yaskawa / electric HT
• Do not lead with Inductotherm unless the nameplate agrees
• Do not treat Rajkumar as sitting plant head
• Do not attach Faridabad NGT illegal-unit stories to MMC without a named docket

5.3 Opening hooks (email / call / WhatsApp)

• “Sector 59 melt — which induction start is on your DHBVN peak?”
• “Gas HT noted. Electric case is furnace start vs VTL/air. Two bills, one feeder, 60-Day Proof.”

6. Risks, flags, controversies & sources

6.1 Integrity / controversy / regulatory (search explicitly)

Searched: MM Castings / M M Castings / CRUSHMORE + Faridabad + Palwal + NGT, HSPCB, lawsuit, fraud, labour, tax raid, pollution (2024–2026).

• HSPCB Palwal: Orange, Medium/Large, operational, occupier Anup Mittal — consent-regime presence, not a notice.
• NGT Faridabad 2025–26 (TOI: HSPCB delay on illegal metal units, cupola without APCD, etc.): MMC not named in extracts reviewed. Regional only.
• CARE 2023: no default, “status of non-cooperation: NA.”
• None found for fraud, raid, or promoter criminality in this pass.
• Open charges ~₹55 Cr [dir] — normal working-capital context, not a scandal.

Absence ≠ clearance. Pull MCA charges and current HSPCB CTO before contract.

6.2 Data quality flags

• Capacity 18,000 vs 27,000 MTPA
• Employees 491 vs LinkedIn 13
• CARE FY22 ₹275 Cr vs IndiaMART band vs unknown FY25
• Agwanpur vs Palwal project collision
• Rajkumar triple current-role
• Anup on HSPCB vs past on MCA
• LinkedIn “10–20 employees” on director profiles is the company-page scrape, ignore
• Phone 4150995 is [dir]

6.3 Sources consulted

• https://www.mmcastings.com / about-us.html / capabilities.html / contact-us.html
• https://www.linkedin.com/company/mmcastings
• CARE PR 5 Jan 2023 (PDF)
• HSPCB OCMMS industry 833118 (Palwal)
• IndiaMART about / GST / CIN
• The Company Check CIN U74899DL1994PTC063014
• LinkedIn: Raghav Mittal, Manoj Mittal, Rajkumar Shivarathri (two URLs), Ram Narayan
• TOI NGT Faridabad HSPCB (regional, not named)
• leads/lead-research-master-company-index.md — not listed (net-new)
• Stamped ICP v2; messaging canon; DHBVN Faridabad/Palwal