MIRA INFORM REPORT
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Report Date : |
14.05.2011 |
IDENTIFICATION DETAILS
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Name : |
TRANE INDIA LTD. |
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Registered Office : |
Corporation Trust Center 1209 Orange Street, Wilmington, New Castle,
De 19801 |
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Country : |
United States |
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Date of Incorporation : |
06.08.1993 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesalers of heating and Air-Conditioning Equipment |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 25,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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United States |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GEOPOLITICS - UNITED STATES
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD |
IDENTIFICATION
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Ordered as: |
Trane India Ltd |
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Address in the order: |
Lacrosse Head Quarters-Operations, 3600, Pammel Creek Road, Lacrosse,
Wisconsin-54601 |
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Legal Name: |
Trane India Ltd. |
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Legal Address |
Corporation Trust Center 1209 Orange Street, Wilmington, New Castle,
De 19801,Usa (Registered Agent) |
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Operative Address |
3600 Pammel Creek Rd, |
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Telephone: |
+1 (608) 787 26 50 |
ID : |
2346623 |
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Fax: |
+1 (608) 787 26 50 |
Legal Form: |
Limited Company |
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Email: |
N/A |
Registered in: |
Delaware |
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Website: |
N/A |
Date Created: |
1993 |
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Manager: |
Pravin Dhamanse, Manager |
Date Incorporated: |
August 6th, 1993 |
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Staff: |
10 employees |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Wholesalers of heating and Air-Conditioning Equipment. |
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BANKS
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Name of the Bank |
PNC Bank |
BUSINESS
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HISTORY |
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This company was created in the year 1993. |
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PRINCIPAL ACTIVITY |
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The company is working as global provider of indoor comfort systems
and comprehensive facility solutions. |
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Products/Services description: |
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Its offerings include energy efficient heating, ventilating and air
conditioning systems, service and parts support, advanced building controls
and financing solutions. Each Trane system is designed to meet the specific
needs of customers who want heating, cooling, dehumidifying and air cleaning
systems for residential, commercial, institutional and industrial
applications. |
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Sales are: |
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Wholesale |
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Clients: |
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Various industries |
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Operations area: |
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National, International |
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The company imports from worldwide |
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The company export to India mainly |
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Trade References: |
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Frost & Sullivan IDBI Bank Limited |
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The subject employs 10 employee(s) |
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PAYMENTS |
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regular |
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LOCATION |
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Headquarters |
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The company is headquartered at 3600 Pammel Creek Rd, |
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Comments on location: |
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The company is incorporated in Delaware for tax purposes; However it
is headquartered in Wisconsin |
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Branches: |
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There were no branches found for this company. |
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Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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Since June, 2008, The company became wholly own subsidiary of
Ingersoll-Rand Plc, a public company that trade at the stock exchange NYSE
under tcker symbol "IR" 170/175 Lakeview Drive, Airside Business Park, Swords, Co. Dublin, Ireland |
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Management: |
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Pravin Dhamanse, Manager Robert Smolen, Treasurer Melissa Johnson, Financial Manager |
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Related Companies: |
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"Trane International Inc." "Trane U.S. Inc." "Trane Inc." The company also has another location in India. |
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Financials - COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. |
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We have contacted Judy who confirmed and provided us with basic
information, however she refused to provide us any financial data without
knowing the name of the inquiring party. |
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However our financial sources could provide us with the following data
(estimates): |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
1,600,000 |
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Operating Income |
67,000 |
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Net Income |
51,000 |
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Net worth |
300,000 |
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Liabilities |
20,000 |
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The cash flow is |
Normal |
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Legal Fillings |
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There are no UCC files listed with the
Secretary of State of Wisconsin. There are no legal filings listed with the
District Court. THE COMPANY IS NOT LISTED ON THE OFAC
LIST.* For information: * The Specially Designated Nationals (SDN)
List is a publication of OFAC which lists individuals and organizations with
whom United States citizens and permanent residents are prohibited from doing
business. ** The Uniform Commercial Code (UCC) is
one of a number of uniform acts that have been promulgated in conjunction
with efforts to harmonize the law of sales and other commercial transactions
in all 50 states within the United States of America. The UCC deals primarily with transactions
involving personal property (movable property), not real property (immovable
property). It allows a creditor to notify other
creditors about a debtor’s assets used as collateral for a secured
transaction by filing a public notice (financing statement) with a particular
filing office. The Uniform Commercial Code Bureau files
and maintains on financial obligations (including IRS liens) incurred by
individuals (in business as a sole proprietor), business entities and
corporations. |
Rating
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Local credit bureau gave a correct credit
rate. The company is in Good Standing. This
means that all local and federal taxes were paid on due date. |
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Final Opinion |
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This company has been in business for 8
years. It has a staff of 10 employees which makes it a medium sized company. There were no legal filings found against
the company or its legal representatives. This company became subsidiary of
Ingersoll-Rand Plc (NYSE:IR). Despite our long searches, we were unable
to get financial information for the year 2010. Our financial sources though, provided us
with the financial information for the year 2009. The company gave a correct profitability
for that year. There fore a credit line may be considered
for USD 25,000 |
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SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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APPENDIX
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Person Interviewed |
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Judy |
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Position |
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Representative |
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Comments |
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She confirmed and provided us with baic information, however she
refused to provide us any financial data without knowing the name of the
inquiring party. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.91 |
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UK Pound |
1 |
Rs.73.06 |
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Euro |
1 |
Rs.64.03 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.