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MOTORINDIA
l
May 2012
Magma’s expanding role in CV financing
Mahindra Finance PAT up 45%
Magma Fincorp Ltd. provides a
range of financial products, includ-
ing financing of utility vehicles,
cars, commercial vehicles, con-
struction equipments and tractors,
as well as SME loans. Magma has
a dedicated base of over 2.7 lakh
customers and has assets worth
INR 11,860 crores under manage-
ment. It has 199 branches in 20
States and one Union Territory,
and employs over 5,500 people.
The company provides financial
products and services to individual
and corporate customers. Its fund-
based product portfolio provides fi-
nance for commercial vehicles, cars
Mahindra & Mahindra Fi-
nancial Services Ltd.’s total
income increased by 45 per
cent at Rs. 847 crores during
the quarter ended March 31, 2012,
as against Rs. 586 crores in the cor-
responding period last year. Profit
after tax was at Rs. 228 crores dur-
ing the quarter, registering a growth
of 45 per cent as compared to Rs.
157 crores during the corresponding
period last year and a growth of 47
per cent against the preceding quar-
ter ended December 31, 2011.
Total income of MMFSL in-
creased by 41 per cent at Rs. 2,795
crores during the year ended March
31, 2012, as against Rs. 1,978 crores
in the corresponding period last
year. Profit after tax was at Rs. 620
and multi-utility vehicles, construc-
tion equipment, tractors, SME loan
and distribution of insurance. These
crores during the year, registering a
growth of 34 per cent as compared
to Rs. 463 crores during the corre-
sponding period last year. The earn-
ings per share (basic) increased from
Rs. 47.85 during 2011 to Rs. 60.46
during 2012.
The Board has recommended
a dividend of Rs. 14 per share as
against Rs. 10 paid last year.
MMFSL over the last financial
year registered a disbursement
growth of 35 per cent, maintaining
its leadership position for vehicles
and tractors in the rural and semi-
urban markets. The company has
services offer cross-sell opportu-
nities, address customer needs,
and help position the company as
a one-stop shop in retail financing.
With service excellence in re-
tail financing to bring prosperity
to its customers, Magma aims to
become one of India’s largest re-
tail financing companies, with its
focus on first-time buyers (FTBs)
and first-time users (FTUs).
Mr. Mayank Poddar is the
Chairman, and Mr. Sanjay Cham-
ria, Vice Chairman and Managing
Director of the company.
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significantly improved its
performance as a car and
utility vehicle financier. It
has also registered a marked
growth in financing of heavy com-
mercial vehicles and construction
equipment.
During the year, the company’s
customer base crossed the two-
million mark in March. The last one
million customers were added in
less than three years compared to the
13 years it took to achieve the first
million customers.
MMFSL currently has a network
of 607 offices and total assets under
management of Rs. 20,643 crores as
on March 31, 2012.
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vehicle finance
Mr. V. Lakshmi Narasimhan, Chief Fi-
nancial Officer, Magma Fincorp Ltd.