Depth bar: MEDIUM. [~] estimate, [!] unverified.

1. Company overview & snapshot

1.0 The connection — Jatin Sai Jaggi

• Role: production engineer on the high-pressure die casting (HPDC) and high-vacuum die casting (HVSC) floor at Mikuni India, Neemrana, since about Sept 2022. ~10 years 8 months total experience; earlier at Maxop Engineering (die casting) and Global Autotech.
• Duties he lists: HPDC production and OEE, “reduce melting cost”, TPM jishu hozen (JH) zone leader, a CO2 reduction project, die trials.
• Authority: shop-floor influence, no budget. He knows furnace and machine behaviour in detail, which makes him a strong technical ally and source for discovery.
• Status flag: user notes his profile shows “open to work” [!]. He may leave soon; ask for the intro now and keep the relationship for wherever he goes (die-casting peers are good Stamped targets).
• Connection status: 1st-degree. LinkedIn https://www.linkedin.com/in/jatinsaijaggi.

1.1 Legal identity & corporate structure

• Mikuni India Private Limited, CIN U50300RJ2008FTC027384, incorporated 12 Sep 2008, registered office at the Neemrana plant. Subsidiary of Mikuni Corporation, Tokyo (TSE: 7247).
• Paid-up capital ~₹173.5 Cr (Tofler).
• MD: Shigeru Ikuta (since 2013). Production started Nov 2009.
• Located in the Japanese Investment Zone at Neemrana (RIICO), alongside Daikin, Nissin, Toyota Gosei and others.

1.2 What they make & where money comes from

Throttle bodies and carburettors (two-wheelers and cars), variable valve timing (VVT) and oil control valves (OCV), vacuum pumps, stepping/idle-speed motors, die-cast and moulded parts. Customer logos on the site include major Japanese and Indian two-wheeler and car OEMs; named customer relationships are not confirmed [!] (likely Honda Motorcycle & Scooter India, Suzuki, Maruti Suzuki, Yamaha [~]).

1.2a Scale, MSME status & trade

Revenue table

Working revenue range: ₹1,500–1,750 Cr · confidence medium. Margins fell sharply in FY25 (EBITDA −21%, profit −48%) while revenue grew: cost pressure is real, which helps an energy-cost pitch.

1.3 Plants, addresses & footprint

Single site keeps the pilot simple.

1.4 Leadership & CRM map

Email pattern: first_last@mikuni.co.in (pattern sites). Generic Sales@mikuni.co.in.

Decision path: Jatin → Vir Vijander Singh (utility case) + Bilal Wani (production buy-in) → Japanese plant director/MD (Ikuta) → Tokyo informed for anything group-wide. Japanese subsidiaries want detailed proof and small pilots; frame as kaizen with numbers.

1.5 Recent news & timing

• Feb 2026: TPM Excellence health check (JIPM-style) at the plant; energy loss is one of the TPM pillars, so timing fits.
• FY25 profit fell 48% despite revenue growth.
• ITAT Jaipur income-tax order (Jan 2025) on carry-forward losses; routine tax matter.

2. Energy profile

DISCOM / supply: Neemrana industrial area → JVVNL (Jaipur Vidyut Vitran Nigam Ltd) HT industrial. Rajasthan industrial tariffs plus electricity duty and fuel surcharges are among North India’s higher totals [~].

2.1 Bill band, tariff & demand

₹60 lakh–1.2 Cr/month [~]. Basis: aluminium melting (likely gas or electric) and holding furnaces for 135–500 T die-cast cells, 80–650 T moulding machines (heaters, hydraulics), CNC machining, compressors, chillers, cooling towers. If melting is electric (induction or resistance), the band moves to the upper end.

2.2 Generation, fuel & renewables

Likely rooftop solar [~] (common in Neemrana Japanese zone). Furnace fuel may be LPG/PNG [~]; Jatin will know. DG backup.

2.3 EnMS, PAT, ISO, BRSR

ISO 14001, IATF 16949. TPM programme. No ISO 50001 found. Unlisted; Mikuni Corp group reports CO2 under Japanese disclosure rules.

2.4 Likely ₹ leak categories

1. Holding furnaces kept at full temperature through breaks, die changes and low-schedule shifts.
2. Die-cast cell start-up stacking at shift start pushing JVVNL billed demand.
3. Moulding machine barrel heaters left on during idle.
4. Compressed air leaks on die-cast spray and blow-off.
5. Chillers / cooling towers running at full flow regardless of load.

3. Operations, equipment & digital stack

3.1 Process flow & critical loads

Aluminium ingot → melting furnace → holding furnaces at cells → HPDC/HVSC casting → trim press → fettling/shot blast → CNC machining → leak test → assembly (throttle bodies, valves, pumps) → testing → dispatch. Parallel injection-moulding shop for plastic parts.

3.1a Machine inventory

3.2 Shifts & pattern

Three shifts likely for die casting (furnaces run continuously) [~].

3.3 Automation, metering, SCADA/EMS

Japanese plants usually have feeder meters and daily kWh logs; a formal EMS is unknown. Path A (meters + log sheets) or Path B (add a few CT clamps on furnaces) [~].

3.4 Capex

No public expansion. Group investing in EV-related products (motors, pumps); possible new lines.

4. Stamped Energy fit analysis

4.1 ICP scorecard

4.2 Fit score rationale

6/10. Strong plant and geography; drag is the junior connection, possible job change and Japanese decision cycle.

4.3 Wedge

The strongest wedge is: holding-furnace idle and die-cast cell start-up demand on the JVVNL bill, brought in by Jatin to Vir Vijander Singh as a TPM energy-loss kaizen with a 60-day proof on the die-casting feeder.

4.4 Objections & competitors

• “TPM team already tracks energy” → we turn their loss tree into rupee-priced daily actions with evidence.
• “Japan HQ must approve software” → read-only, no control path; start with exported meter data.
• Incumbents: furnace OEM controls, local energy auditors.

4.5 Pilot design

Die-casting feeder + compressor house. Success: ₹4 lakh/month evidence-verified [~]; three Rx closed by shift teams. Kill: no feeder-level interval data in 2 weeks.

4.6 Concern scores

4.7 Pitch sketches

1. MD / finance: “FY25 profit fell 48%. Furnace idle and demand charges are a controllable piece; we price them in rupees.”
2. Utilities (Vir): “Morning WhatsApp: which holding furnace or chiller cost money last night.”
3. Production (Bilal): “No change to cycle time; only stagger cell starts and drop holding temperature during long stops.”

5. Before you reach out

5.1 Discovery checklist

• Furnace fuel: electric, LPG or PNG?
• JVVNL contract demand and recorded MD over 12 months
• Number of die-cast cells and their tonnage split
• Is there rooftop solar or open access?
• Who runs the TPM energy pillar?
• Is Ajay Kumar Gupta still at Mikuni?
• Who is the Japanese plant director, and how are software purchases approved?
• Is Jatin staying? If not, where is he going?

5.2 Do not lead with

• Do not lead with predictive maintenance or AI; lead with furnace idle and the demand charge.
• Do not ask Jatin to pitch the MD himself.

5.3 Opening hooks

“How long do your holding furnaces sit at full temperature during die changes?“

6. Risks, flags, controversies & sources

6.1 Integrity / controversy / regulatory

• Jan 2025 ITAT Jaipur order on income-tax carry-forward of losses (routine tax dispute).
• Searched “Mikuni India Neemrana accident / pollution / labour strike / penalty”: none found.
• FY25 profit decline of 48% may tighten discretionary spend.

6.2 Data quality flags

• Revenue is a Tofler band, not an exact figure.
• Customer list on site is logos only.
• Maintenance head’s current employer uncertain.
• Jatin’s “open to work” status from the user brief, not independently checked.

6.3 Sources consulted

• https://www.mikuni.co.in (company profile, facilities, contact)
• https://www.mikuni.co.jp/en/ (parent)
• https://www.tofler.in/mikuni-india-private-limited/company/U50300RJ2008FTC027384
• https://tracxn.com (Mikuni India legal entity profile)
• https://www.linkedin.com/in/jatinsaijaggi
• https://www.linkedin.com/in/bilal-wani-641b2011
• https://in.linkedin.com/in/ajay-kumar-gupta-8b040628
• https://www.linkedin.com/in/vir-vijander-singh-24702b2b
• https://www.linkedin.com/in/pradeep-paliwal-04431955
• https://www.linkedin.com/in/shigeru-ikuta-26117044
• https://indiankanoon.org (ITAT Jaipur, Mikuni India, Jan 2025)
• https://rocketreach.co (Mikuni India email format)