Depth bar: HIGH-priority account. [~] = estimate, [!] = unverified, [dir] = directory/aggregator. No bills seen.

1. Company overview & snapshot

1.0 The connection — Muzaffar Hasnain

1.1 Legal identity & corporate structure

• Legal name: Beri Udyog Private Limited (brand: Fieldking)
• CIN: U74899HR1995PTC038779 · incorporated 1 May 1995 (business founded 1978 by the late Prakash Chand Beri)
• Registered office: Plot 235-236 & 238-240, HSIIDC Sector 3, Karnal 132001, Haryana
• GSTIN: 06AAACB5379C1ZX
• Board (5 directors per MCA): includes Ravi Beri (MD), Vikram Beri (ED, Business Development), Karan Beri (ED, Operations), Rajni Beri
• Professional management: Sanjay R Sofat (CEO, per LinkedIn company data and Muzaffar’s post [!] title not seen on company site); Prashant Jindal (President, Operations); Ajay Himanshu (AVP & Group Head HR/Admin/Legal/IT); Sadhan Ghosh (VP R&D, per directory [!])
• Listed: No. Family-owned
• Credit rating: CARE A; Stable / CARE A1 (upgraded, 3 Oct 2025)
• Certifications: ZED Gold (MSME sustainable certification), ISO 9001

1.2 What they make & where money comes from

Tractor-mounted implements: rotary tillers (rotavators), disc harrows and ploughs, cultivators, laser land levellers, balers, mulchers, seed drills, and newer harvesting machines (MCH). Backward-integrated into discs and blades (the main wear parts), which they also sell as spares.

• Exports ~62% of sales FY25 (57% FY24) to 108 countries. One Ethiopia government order of ₹224 Cr (₹149 Cr executed in FY25) drove much of the FY25 jump.
• Domestic: 450 dealers and 50 distributors.
• Raw material: ~63% of operating income; mostly MS and boron steel from SAIL and Tata Steel.

1.2a Scale, MSME status & trade

Revenue range (mandatory)

Working revenue range: ₹500–550 Cr FY25 (₹514 Cr per CARE). Confidence: high. FY26 likely ₹500–600 Cr [~] depending on the remaining ₹75 Cr of the Ethiopia order and domestic demand. CARE’s upgrade trigger is >₹700 Cr.

1.3 Plants, addresses & footprint

HSPCB record for Begumpur: Red category, heavy engineering, Medium/Large unit, commissioned 1 Jun 2016, capital investment ₹71.17 Cr (land ₹12.10 Cr, building ₹40.33 Cr, plant & machinery ₹18.73 Cr); occupier Ravi Beri.

Company website: “3 manufacturing facilities spanning 1,62,000 sqm”, “40 acres”, robotics, CNC press brakes, cutting centres, powder coating, in-house heat treatment, forged tynes.

Recommended pilot site: Begumpur. It has the furnaces, the presses and the paint line, it’s the newer plant (better metering likely), and it’s the bigger load.

1.4 Leadership & CRM map — champion map

Decision path: Muzaffar → Karan Beri (yes in principle) → Prashant Jindal and Sanjeev Tyagi scope the Begumpur pilot → Ravi Beri / CEO informed for the PO. Family-run, so a “yes” from Karan can move in a week; a “no” is also fast.

1.5 Recent news (24 months) & timing for Stamped

Timing: good. Post-upgrade, growth year, but the Ethiopia tailwind fades in FY26, so cost focus rises.

2. Energy profile

DISCOM / supply: UHBVN (Uttar Haryana Bijli Vitran Nigam) — Karnal district, including Gharaunda tehsil, is in UHBVN territory. Confirm per meter; both plants likely HT industrial supply (11 kV or 33 kV) [~].

2.1 Bill band, tariff & demand

Working estimate: ₹40–80 lakh/month combined [~]; Begumpur alone ₹25–50 lakh/month [~].

Reasoning:

• Begumpur runs heat treatment for 6.3 lakh discs and 42 lakh blades a year (boron steel hardening and tempering, electric or gas furnaces [!]), press forming and a paint/powder line. Electric hardening + tempering plus presses and compressors puts a plant like this at 1.5–3 MVA contract demand [~].
• Karnal Unit 2: fabrication, robotic welding (inverter welders), CNC press brakes, cutting centres, powder coating oven: 1–2 MVA [~].
• Haryana HT industrial all-in realisation is roughly ₹7.5–8.5/kWh including fixed charges and taxes [~]. At 40–60% load factor, 2.5–5 MVA combined gives ~5–9 lakh kWh/month → ₹40–75 lakh.
• Cross-check: energy for an implement maker is typically 2–4% of revenue [~]. ₹514 Cr × 1–2% electricity share = ₹43–86 lakh/month. Consistent.

Clears the ₹30 lakh/month Band A gate on either method. Confirm on two UHBVN bills.

Tariff notes: HERC tariff for HT industry has a fixed charge on contract demand (₹/kVA) and ToD components [~]. Haryana also levies electricity duty and a municipal tax. 64% capacity utilisation implies long idle periods where fixed charges and standby loads (furnace holding, compressors) weigh heavily.

2.2 Generation, fuel & renewables

• DG: backup DG sets near-certain (Sanjeev Tyagi’s profile lists DG and solar PV).
• Solar: his profile mentions solar PV; size and site not disclosed [!]. Ask.
• Fuel: heat-treatment furnaces may be electric or LPG/PNG-fired [!]; paint ovens likely LPG/diesel [~]. IOCL bottling plant next door is a hint toward LPG [~].
• Fuel billing: not evaluated.

2.3 EnMS, PAT, ISO, BRSR

• ISO 9001, ZED Gold. No ISO 50001 found.
• Not a PAT designated consumer.
• Unlisted, no BRSR.
• Export customers (Europe, Africa, Australia) may start asking for energy or carbon data per product [~]; not a lead with them, but a long-term reason to have metering.

2.4 Likely ₹ leak categories (hypothesis)

1. Furnace holding during idle shifts — heat-treatment furnaces kept hot at 64% utilisation; holding power and standby losses.
2. MD spikes — furnace heating cycles overlapping with press and paint-oven starts.
3. Compressed air — robotic welding, pneumatic tools, paint guns; Sunday/night leaks.
4. Paint/powder oven — oven running empty between batches.
5. Power factor — induction or resistance heating and inverter welders; check PF and harmonics.
6. DG vs grid — DG running during short outages beyond need; diesel cost per kWh vs grid.
7. Lighting/HVAC in 1.6 lakh sqm of shed [~].

3. Operations, equipment & digital stack

3.1 Process flow & critical loads

Steel sheets and plates → cutting (CNC cutting centres, shearing) → press forming (discs dished, blades formed) → heat treatment (hardening + tempering of boron-steel discs and blades) → machining/grinding of edges [~] → fabrication of frames (CNC press brakes, robotic MIG welding) → powder coating / paint → assembly → testing → dispatch (container exports).

3.1a Machine inventory

Plant & machinery book value at Begumpur on HSPCB record: ₹18.73 Cr (2016 basis), which looks low for a heat-treat + paint plant and may predate the 2019 expansion [!].

3.2 Shifts, seasonality, production pattern

• Domestic demand is seasonal (pre-kharif and pre-rabi), export orders lumpy (Ethiopia). Utilisation 64% means shifts flex: likely 1–2 shifts with peaks to 3 [~].
• Seasonal swings are a strong argument for a contract-demand review: if they’re paying fixed charges for a peak used three months a year, that’s money.

3.3 Automation, metering, SCADA/EMS/DCS

Sanjeev Tyagi lists SCADA and HT/LT distribution in his skills, so some SCADA or at least multifunction meters on main panels is plausible [~]. Robotic welding and CNC equipment are PLC-based. Entry path: Path A if a SCADA or meter gateway exists; Path B (clip-on loggers on incomer, furnace feeder, paint-oven feeder, compressor house) otherwise.

3.4 Capex / tech projects affecting energy

• Begumpur backward integration + paint facility (₹115.9 Cr, 2019).
• New product lines (MCH harvester, balers).
• Solar PV mention in maintenance head’s profile; scope unknown.
• CARE notes no large debt-funded capex planned; GCA projected ₹71.8 Cr FY26 — room for opex-funded tools like Stamped.

4. Stamped Energy fit analysis

4.1 ICP scorecard

4.2 Fit score rationale

8/10. Verified revenue, verified heat treatment and paint, UHBVN plant three hours from our live reference, strong balance sheet, idle capacity that wastes power, and a technical maintenance head. Docked one because the connection is R&D (needs an intro), one more because the family plus a professional CEO could slow the decision. Ranked equal with GEDIA; Fieldking’s numbers are firmer, GEDIA’s contact is more senior.

4.3 Wedge (parser-critical)

The strongest wedge is: a 60-Day Proof at the Begumpur unit showing what furnace holding and press/oven overlap cost on the UHBVN bill at 64% utilisation — read-only on existing meters (or clip-ons), rupee actions to Sanjeev Tyagi’s team on WhatsApp, verified with evidence on Stamped’s ledger, introduced through Muzaffar to Karan Beri and Prashant Jindal.

4.4 Objections & competitors

4.5 Pilot design

• Site: Begumpur.
• Meters: HT incomer + heat-treatment feeder + paint oven + compressor house (+ press shop if separate).
• Data: 2 UHBVN bills, 15-min interval data, DG log, production plan.
• Actions to test: furnace hold/idle policy, start staggering, compressor sequencing and leak sweep, oven idle-off, contract demand review vs seasonal peak, PF correction.
• Success: ≥ ₹2 lakh/month verified on the Stamped ledger by day 60 [~].
• Expansion: Karnal Unit 2; then show the same playbook for the export-customer data asks.

4.6 Concern scores (1–10)

4.7 Pitch sketches

1. P&L (Karan Beri): “Fieldking ran at 64% capacity last year, and the furnaces and compressors don’t know that. We read the meters you already have and tell Sanjeev’s team which loads are costing money when nothing is being made. Sixty days, one plant, fixed fee, every rupee verified with evidence on our ledger. LNM Auto in Faridabad is doing the same on forging and heat treatment.”
2. Maintenance (Sanjeev Tyagi): “You already know the HT side. We give you 15-minute visibility on the furnace, oven and compressor feeders, plus a WhatsApp message when one of them is driving the demand charge. No control changes, no new panel to maintain.”
3. Production (Prashant Jindal): “It’s TPM for the power bill: losses named, owners assigned, results verified. Nothing changes your takt time. We only touch idle and start-up behaviour.”

5. Before you reach out

5.1 Discovery checklist

• Two UHBVN bills each for Begumpur and Karnal Unit 2: ₹ total, contract demand, recorded MD, PF, ToD split
• Is 100-101 HSIIDC Sector 3 a separate connection?
• Heat-treatment furnace type: electric (resistance/induction) or LPG/PNG-fired? Batch or continuous?
• Paint/powder oven fuel and shift pattern
• Solar: size, site, net-metering or captive
• DG capacity and monthly run hours
• Existing SCADA / multifunction meters / energy software
• Seasonal production calendar; contract demand vs actual peak by month
• Who reviews the bill today: Karan Beri, accounts, or Sanjeev Tyagi?
• What the CEO (Sanjay Sofat) vs family EDs approve
• Any HERC/UHBVN disputes, PF or MD penalties in last 12 months

5.2 Do not lead with

• Do not lead with R&D tools or design software to Muzaffar. He’s the bridge, not the buyer.
• Do not lead with solar, ESG or carbon.
• Do not lead with “AI” or predictive maintenance.
• Do not lead with “verified on the next UHBVN bill”; lead with verified with evidence on Stamped’s ledger.
• Don’t mention the Ethiopia order as if we know their margins.

5.3 Opening hooks

• For Karan: “At 64% utilisation, how much of your UHBVN bill is furnaces and compressors keeping warm for production that isn’t happening?”
• For Prashant: “TPM names the losses on the line. We do the same for the power bill.”

6. Risks, flags, controversies & sources

6.1 Integrity / controversy / regulatory

• Intro dependency. Muzaffar may be reluctant to forward a vendor pitch outside R&D. Mitigate by giving him a forwardable three-line note and making clear he can decline.
• Decision layering. Family EDs plus a professional CEO (Sanjay R Sofat [!]) plus President-Operations: risk of “check with X”. Aim for Karan Beri first.
• Revenue concentration. FY25 growth relied on one Ethiopia order (₹149 Cr executed). FY26 may dip; cost-cutting tools can be well received then, but budgets get tighter.
• Controversy search: none found (searched: “Fieldking / Beri Udyog lawsuit, labour dispute, accident, fire, HSPCB notice, GST penalty, ED/IT raid”). HSPCB Red category is normal for heat-treatment and paint operations and is not itself a violation.
• Former HR head’s email (jagbir.dhillon@fieldking.com) still sits on the HSPCB record; he left in 2020. Not a risk, just stale regulator data.

6.2 Data quality flags

• Prashant Jindal’s LinkedIn not located (search returned a different Prashant Jindal at Jindal Automobile, Sirsa); use the search URL.
• Sanjay R Sofat’s CEO title comes from LinkedIn company data and Muzaffar’s post, not the company website [!].
• Bill band is a top-down estimate; no bill seen.
• Furnace fuel type unknown; if gas-fired, the electrical bill share falls and the pitch shifts toward presses, paint, compressors.
• Emails are pattern-inferred (first.last@fieldking.com seen on other staff).
• Brief said “UHBVN (verify per factory)”: both known sites are in Karnal district, so UHBVN is very likely for both; still verify on bills.

6.3 Sources consulted

• https://www.fieldking.com — company profile, facilities (3 plants, 1,62,000 sqm, robotics, powder coating, heat treatment), leadership, contacts
• CARE Ratings press release on Beri Udyog Pvt Ltd, 3 Oct 2025 — FY24/FY25/Q1FY26 figures, capacity, exports, upgrade to A/A1
• CARE Ratings rationale 2019 — FY17–FY19 revenue, Begumpur backward integration and paint project, capacity
• HSPCB OCMMS public record — Begumpur unit category, investment, occupier, commissioning date
• https://www.tofler.in — MCA data for CIN U74899HR1995PTC038779, FY25 band
• https://www.linkedin.com/in/muzaffar-h-75309922 — profile and Apr 2026 award post
• https://www.linkedin.com/in/karan-beri-3977878
• https://www.linkedin.com/in/sanjeev-tyagi-72369b20
• https://www.linkedin.com/in/rajeev-singh-dindha-48726653
• https://www.linkedin.com/in/sandeep-sharma-96832935
• Fieldking leadership page and press coverage — Prashant Jindal biography
• Adapt.io / RocketReach-style directories — email pattern evidence (ankita.popli@, shikha.uniyal@, subham.shrivastava@fieldking.com)
• News/legal search (Google, Indian Kanoon, HSPCB) — no controversies found