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Magma Fincorp Ltd. Wins Gold at the LACP Global Spotlight Awards

November 9, 2013 - Kolkata, West Bengal, India

Magma Fincorp Ltd, one of India’s leading retail asset finance companies has won the Gold award at the LACP (League of American Communications Professionals) Spotlight Awards 2013, a global competition that recognizes the best work in professional communications. The Magma Annual Report FY 13 titled “Poised” has been ranked among the best in the world grabbing 44th spot in the overall ranking. The prestigious award has been bestowed to Magma in the category of Annual Reports for financial services and Insurance companies.

"It is a great honor that Magma Fincorp Ltd. has won the Gold Award at the LACP Spotlight Awards, 2013 in the Financial Services and Insurance category. This international recognition of our Annual Report is indeed delightful which not only speaks volumes about the communication and creativity aspects but also about the kind of reporting followed by us”, said Mr. V Lakshmi Narsimhan, CFO, Magma Fincorp Ltd.

League of American Communications Professionals (LACP) is a highly reputed group dedicated to supporting, recognizing and advancing excellence in the practice of professional communications. Each year, LACP rewards excellence in the practice of professional communications via the global communications materials competition. This year’s entry proved to be remarkable in light of tremendous competition. More than 1500 entries representing a dozen countries and 300 entries were received, so the competition was exceptionally tough.

About Magma Fincorp Limited

Magma Fincorp Limited (“Magma”) is a non-deposit taking non-banking finance company (NBFC), registered with the Reserve Bank of India (RBI) as an Asset Finance Company. The Company, having started operations over two decades back, is listed on the Bombay Stock Exchange Limited and the National Stock Exchange in India. Magma provides a bouquet of financial products including financing of Utility Vehicles & Cars, Commercial Vehicles, Construction Equipment, Used Commercial Vehicles, Tractors, SME Loans, and Loan against gold, Home finance and Insurance. Magma has a dedicated base of around 3 lac customers and has assets of INR 13,530 Cr under management. The company has 280 branches in 20 states and 1 union territory and employs over 7000 people.

Source: Business Wire India


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