Kolkata, 1st November 2011: Magma Fincorp, a leading asset finance company in India has won the Gold Award at the Spotlight Awards 2011, Global Communications Excellence Competition organised by the League of American Communications Professionals LLC (LACP), a forum within the public relations industry worldwide that facilitates discussion of best-in-class practices within the profession while recognizing those who demonstrate exemplary communications capabilities.

Magma participated in this global competition for the first time and the Magma Annual Report for the financial year 2011 titled 'Becoming the Benchmark' won the Gold Award in the category of Annual Reports for the Financial Services and Insurance companies. Magma's entry was adjudged 49th in overall ranking for all forms of communication materials. A total score of 98 out of 100 points was achieved with perfect scores in categories like Overall Narrative, Overall Visual Design, Creativity and Message Clarity.

League of American Communications Professionals LLC (LACP) was established in 2001 and today conducts one of the largest communications competitions globally. More than 1500 entries from over 400 large corporations representing nearly a dozen countries were received this year. Some of the biggest names that feature in Global Top 100 include CISCO, International Olympic Committee, Deutsche Bundestag, Qualcomm, SAP, P&G, GE Foundation, Hyundai Motor Company, Audi AG, KPMG AG, Prudential, Bayer, World Gold Council, Cairn India etc.

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 Equipments, Tractors and SME Loans. Magma has a dedicated base of around 2.6 lac customers and has assets of INR 11378 crores under management. The company has 190 branches in 20 states and 1 union territory and employs over 5000 people.