Company History: Y.S. Porcelain Tubes India Ltd. (YSPT) was promoted by Y.S.Inc. Japan & Sqrn. Ldr. K.Ramakrishnan to be a 100% EOU for the manuufacture of ceramic cores to be used in the manufacture of metal oxide resistors. The installed capacity of the company being 2250 million pieces p.a.Y.S.Inc. Japan established the first ceramic factory in Japan. Mr.Ramakrishna the main Indian promoter of the company was also the promoter of Elcera Substrates Ltd. in 1985.
YSPT is chaired by Mr.Akihiko Yamada President Y.S Inc. Japan. It has entered into a collaboration agreement with Y.S.Inc. Japan according to which Y.S.Inc. Japan will transfer all technical knowhow & assistance free of cost & will also buy back the entire production of the company initially for a period of 5 years from the date of commercial production.
The project of YSPT was estimated at Rs.13.59 crore by IDBI. The agrement with Y.S.Inc. Japan makes provision for Y.S.Inc. Japan to participate in YSPT's equity capital to the extent of Rs.3.76 crore which amounts to 56% of the equity. The agreement also provides for obtaining asistance in foreign curency loan to the extent Rs.6.12 crore for the import of plant & machinery. To raise part finance for the project the company made a public isue of 22 10 000 equity shares of Rs.10 each aggregating Rs.2.21 crore on 21.12.92. The public issue was over subscribed by almost 30 times. The contribution by Mr. Ramakrishna & associates amounted to Rs.65 lakhs State Government subsidy of Rs.35 lakhs & term loan from IDBI to the extent of Rs.65 lakhs.
The civil works of the factory & installation of machinery were completed on time but due to delay in completion of electrical woirk the comissioning of machinery was possible only by March 93' & hence production started in March 93' & by December 93' exports touched Rs.55 lakhs.
