Y.S. Porcelain Tubes India Ltd., [YSPTs], was promoted by Y.S.Inc. Japan and Sqrn. Ldr. K.Ramakrishnan to be a 100% EOU for manuufacture of ceramic cores to be used in the manufacture of metal oxide resistors. The installed capacity of Comp. being 2250 million pieces p.a.
Y.S.Inc. Japan, established the first ceramic factory in Japan. Mr.Ramakrishna the main Indian promoter of Comp. 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 and assistance free of cost and will also buy back the entire production of Comp. 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 equity capital to the extent of Rs.3.76 crore which amounts to 56% of equity. The agreement also provides for obtaining asistance in foreign curency loan to the extent Rs.6.12 crore for import of plant and machinery. To raise part finance for project the Comp. 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 and associates amounted to Rs.65 lakhs, State Government subsidy of Rs.35 lakhs and term loan from IDBI to the extent of Rs.65 lakhs.
The civil works of factory and 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' and hence production started in March 93' and by December 93' exports touched Rs.55 lakhs.
