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A keen communicator

Suryakant Mishra is the AVP - Corporate Communications at Magma Fincorp. He comes with around 19 years of rich experience in Corporate Communications/Public Relations.

Close to market

Sominder Singh, Vice President, Domestic Sales, Product Management & Network of Daimler India Commercial Vehicles (DICV)

A prime mover

Sumit Mukherjee, Chief Product & Programme Officer at Magma Fincorp, has over 23 years of experience in the retail finance business. He has been with Magma for seven years and has headed various functions in Credit and Sales.

An industry veteran

Sumit Mukherjee has a total experience of 23 years in the retail finance business. Currently, he is the Chief Product & Programme Officer at Magma Fincorp. He has been with Magma for seven years and has headed various functions in Credit and Sales.

Magma Fincorp mulls agri equipment financing

Magma Fincorp is contemplating to finance entire range of agricultural equipment in Punjab and Haryana. In the current financial year, the company would finance tractors, harvesters, rotavators

Magma is a well-diversified business with six business lines

No equipment group is able to drive growth which is primarily due to the fact that the overall infrastructure and mining segments have been impacted by various factors, says Sumit Mukherjee, National Sales Head, Magma Fincorp. Excerpts from the interview.

Navigating through turbulent times

Overall slowdown in demand for new equipment, absence of new channels for the deployment of equipment compared to the overall availability, plummeting value of currency, lack of clarity on private coal blocks, highly depressed rental rates - all seems to have had its negative impact on the equipment finance segment.

Equipment finance to pick up

According to a top official from Magma Fincorp, the commercial vehicle and equipment finance segments are expected to grow in the second half of the next financial year (FY14) on the back of economic recovery. V Lakshmi Narasimhan, Chief Financial Officer, Magma Fincorp, said that it will have tangible impact on commercial vehicle and equipment finance segments. He also added that the growth in commercial vehicle finance and equipment finance were subdued across the sector due to the sluggish gr

Establishing market presence

Pratap Paode is Chief Executive Officer of Shriram Equipment Finance Company since June 2010. He has over 22 years of expe?rience in sales and mar?keting in the financial Services and heavy engineering industries. He has a strong track record of planning with distinctive abilities in establishing market presence, escalating revenues and profitability. He served as National Head of Sales?Core Business at Magma Fincorp between 2008 and 2010.

Mechanisation in rural areas leads CE demand

It is quite surprising that on one side, the infra sector has slowed down and on the other, equipment sale is going up. As per the leading manufacturers of construction equipment, excavator sales have increased by approximately 10 per cent during FY 2011-12 compared to FY 2010-11.

Budget Quotes

The Budget 2012-13 aims at sprucing up the country?s infrastructure and readying it for higher growth. Stalwarts from the construction equipment industry respond to the budget.

Is the growth story sustainable?

It is crystal clear, to reach world-class levels, infrastructure needs a tremendous boost for the next several years; this will augur well for the CE sector where most of the major players continue to upgrade capacity and widen product lines.

Magma Fincorp disbursals up 50%

Leading asset finance company, Magma Fincorp announced the Q3, FY12 results that reflected strong growth in business disbursals and assets under management (AUM) over corresponding qu?a?rter of the last year.

Ajay Rawal new CMO of Magma Fincorp

Magma Fincorp announced the appoi?nt?ment of Ajay Rawal as Chief Marketing Officer (CMO). As CMO, he will anchor the Magma's branding ini?tiatives and guide the Channel & Product Development efforts.

Magma disbursement grew 37%

Leading asset finance company Magma Fincorp announced the Q2, FY 12 results that reflected strong growth in business disbursals and Assets under Management (AUM) over corresponding quarter of the last year. The disbursements grew at a robust 37 percent to Rs 1,558 crore, riding high on the performances across product categories.

Equipment Financing: Widening the Net

CE financing has definitely picked up and has registered a growth of 20 per cent over last year. Though the industry has not touched the peak levels of 2007-08, it expects to end the 4th quarter on a high and continue the growth story in 2011-12.

Magma to open 5 MP branches

Magma Fincorp annou?nced its ambi?tious gro?wth plans for Madhya Pradesh for the financial year 2012. The company, which disbursed Rs 327 crore in Madhya Pradesh in FY 11

Dinesh Chandna joins Magma

Magma Fincorp, India's leading retail finance company has announced the joining of Dinesh Chandna as Chief Information Officer.

CARE upgrades Magma's rating

The rating agency CARE has upgraded the ratings of Magma Fincorp for all its debt obligations. Magma has an established and impeccable track-record towards timely payment of all its debt obligations.

We plan to have a growth of 50% in our overall disbursements

Magma straddles the entire customer segment from the first-time buyer to the strategic segment. Our ticket sizes range from Rs 16 lakh for a backhoe loader to Rs 20 crore to a strategic customer, says Sumit Mukherjee, Vice President, Magma Fincorp.

A complex growth pattern

Till date, leasing has not been not more than one per cent of the total equipment finance market. However, with the clarity coming about taxation related to leasing and a direct tax code coming up, there is a huge opportunity of revival of this product in the coming years.

Magma aims 50% growth in Kerala

Magma Fincorp announced its ambitious growth plans for Kerala for the financial year 2012.

Magma to Open 5 Branches In MP

Magma Fincorp announced its ambitious growth plans for Madhya Pradesh for the financial year 2012.

Magma Fincorp disbursals up by 36%

The first quarter results of Magma Fincorp reflected strong growth in business disbursals of the company along with growth in revenues, Assets under Management (AUM) over the corresponding quarter last year.

Magma targets 50% growth in Karnataka

Magma Fincorp anno?unced its ambitious growth plans for Karnataka for FY 2012. The company plans to ramp up disbursements by another 50 per cent in retail loans in Karnataka in FY12.

CARE Upgrades Magma Fincorp's Rating

The rating agency CARE has upgraded the ratings of Magma Fincorp for all its debt obligations.

KKR, IFC to invest in Magma Fincorp

Magma Fincorp announced an investment of Rs 4,400 million of funds managed by Kohlberg Kravis Roberts & Co LP (together with its affiliates, KKR) and International Finance Corporation (IFC).

Magma registers impressive growth in Q4

Magma Fincorp, a non-banking finance company, announced its fourth quarter (Q4) financial results.

Pricing becomes illogical because of the competition

?The increase in off-take has been met without much trouble. As such, there is no demand-supply gap and the market has been growing,? says Sumit Mukerjee, Vice-President, Magma Fincorp, while sharing his views with Equipment India.

Magma is present across segments and across geographies

W ith 170 branches we are well placed to address the entire market segment,? says Sumit Mukerjee, VP, Magma Fincorp, in an interview with Equipment India.

Magma PAT up 82 per cent

Magma Fincorp, an asset finance company registered with the Reserve Bank of India, has announced strong numbers for the third quarter of the current financial year.

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